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Dominican Republic

Will more debt hinder the development of the Dominican Republic?

Also available in: Español

Co-Authors: Aleksandra Iwulska, Javier Eduardo Báez and Alan Fuchs

In April this year the Dominican Republic borrowed 1.25 billion US dollars on international markets in 30-year bonds. The DR is the only country in the B investment rating group that  successfully issued 30-year bonds in the last 6 years. The country has a total of 2.75 billion US dollars for three issuances in the past 15 months.

At the same time, debt levels have been growing in the country: non-financial sector public (NFPS) debt doubled from 18.3 percent of GDP in 2007 to 36.6 in the first quarter of 2014.When considering the DR Central Bank debt stock, levels would be already close to 47 percent of GDP. It is worth noticing that Jiménez and Ovalle (2011) estimated in 56.7% the debt to GDP the maximum debt to GDP threshold that investors would consider sustainable for the DR in 2013.  Meanwhile, interest payments reached a peak of 2.4 percent of GDP in 2012-13 and external debt stood at 25 percent of GDP in 2013, levels not seen since the economic crisis of 2003. But the economic realities in the DR now are much different than they were in 2003. GDP grew by 4.1 percent last year and 5.5 percent in the first quarter of 2014. The Central Bank forecasts the annual economic growth at 4.5 percent this year. Meanwhile, central government fiscal deficit dwindled from 6.6 percent of GDP in 2012 to 2.9 percent in 2013.

How to Take Control of your Personal Finances

Rekha Reddy's picture
Also available in: Español


​Many of our aspirations revolve around improving our personal finances—keeping better track of spending, saving towards a goal or perhaps getting out of debt.  How can we work towards these goals and follow through on these changes? 

Latin America and the Caribbean: Back to Normal?

José Juan Ruiz Gómez's picture
Also available in: Español


The ritual publication by the leading multilateral organizations, think tanks and investment banks on the macroeconomic outlook for Latin America and the Caribbean which, without being too dramatic, puts an end to the era of growth rates above the region’s potential, has inevitably attracted the interest of policymakers, investors and the public in general.

Building pro-growth coalition for reforms: The Caribbean Growth Forum

Andrea Gallina's picture

Nighttime in St George's, Grenada

What does it take to make reforms work in small island countries?

At the end of June 2013, twelve Caribbean countries presented a roadmap for growth in three areas -logistics and connectivity, investment climate, skills and productivity- to a broad audience of private sector representatives, international development institutions, regional organization, civil society and media. That event culminated a 7-month long phase during which policy-making was not the result of close-doors meetings, but a process of intense negotiation, consultations, and consensus building among all actors of each Caribbean country’s societies. All of which was documented in real time and in a transparent fashion by each government. Yes, business was not “business as usual”.
 
Reforms priorities were agreed and a calendar for implementation brushed on a power point slide in the wonderful framework of five stars Bahamian hotel…After the workshop lights, projects and microphones shut down, many of us went home with a familiar sound in our ears: and now what? Was it another “talkshop”?

Buenos Aires: How the Maldonado stream went back to its bed

Maria Madrid's picture
Also available in: Español
The case of the Maldonado stream: The voice of a citizen

Imagine a busy metropolitan avenue crossing the length of Buenos Aires, Argentina, transited daily by buses and trains and lined with a large hospital, medical buildings, schools, shops and businesses.

Now imagine for 27 years this avenue flooding severely 37 times as if it were a river. During a flood, envision people being evacuated in motorboats, cars practically floating downstream, and cars and pedestrians on the bridge above it having to remain stranded there until the waters on the avenue below receded. It sounds implausible doesn’t it? Not for Buenos Aires residents it didn’t. The Juan B. Justo Avenue was such a thoroughfare.

Targeting motorcycle users to improve traffic safety in Latin America

Anna Okola's picture
Also available in: Español


Motorcycle riders and passengers have long been vulnerable users of motorized transport. In the Americas, with the increasing ownership of motorcycles, given the ease and lower costs, this trend is worrisome as the number of vulnerable users as well as those impacted by traffic crashes increases, sometimes masking a shift from pedestrian or bicycle casualties to motorcycle victims. These trends would be similar in regions such as Africa which also share the motorcycle-taxi (mototaxi) phenomenon.

Caribbean: Working together to boost growth

Andrea Gallina's picture

What is the solution to low growth in the Caribbean? That's been the question on the minds of  private sector, government and civil society representatives from 12 Caribbean countries for the last year.

They're all member of the Caribbean Growth Forum - a regional initiative designed to share experiences, ideas and expertise to promote a more prosperous Caribbean. Andrea Gallina has been coordinating the process since it launched in May 2012.

Here he explains what has been achieved so far and what the next steps are for the Caribbean.

Caribbean: Working together to boost growth

 

What’s getting in the way of Latin America becoming a food superpower?

John Nash's picture
Also available in: Español | Portuguese



The United Nations estimates that with the population reaching 9 billion by 2050, global food demand will double, with much of that growth in developing countries. 
 
While the gloom-and-doom predictions of Malthus and a long line of neo-Malthusians have failed to materialize, still, one does have to wonder how all those hungry mouths are going to be fed.
 
What will it take to ensure that the recent food crises do not become permanent features of the world of the future?  While countries in Latin America and the Caribbean are quite heterogeneous in their production potential, overall they are well equipped to contribute to meeting this challenge.

The Americas look for a 360-degree approach to drugs

Sergio Jellinek's picture
Also available in: Español



Antigua may mean old in Spanish, but what has been accomplished here looks quite modern.

In this colonial city, a living example of Guatemala’s Mayan heritage, surrounded by mountains and volcanoes, foreign ministers from across the Americas have achieved what appeared if not impossible, very difficult: to create a space for inter-American dialogue to build a new continent-wide strategy in the fight against drug trafficking.

Latin America: Making sure anti-tobacco efforts don’t go up in smoke

Joana Godinho's picture

También disponible en español


Today is No Tobacco Day, a moment in time when we’re supposed to remind ourselves of the many evils smoking brings upon us both as individuals and as member of society.

So when I started drafting this blog I asked myself: why can’t we have a No Tobacco Month, or even better a No Tobacco Lifetime? In other words, why are we not already enjoying a tobacco-free world or a tobacco-free Latin America?

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