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IMF Says Dominican Republic will Continue to Grow

DR1 Daily News (April 23, 2009)

The International Monetary Fund (IMF) and the Economic Commission for Latin American and the Caribbean (ECLAC) are both predicting that the Dominican Republic will continue to grow during the global financial crisis.   The IMF also stated that it believes the DR will continue to grow for the next 2 years, plenty of time for a true global recovery to begin.

The World Bank also recognized the Dominican Republic as 1 of the 10 nations pushing thru the greatest number of reforms in 2008 in order to create a better climate for investments and business. The Banking Industry in the DR was adopting new regulation with a strict abhorrence for risky assets while the rest of the world was deregulating. As a result, the banks in the DR are very well capitalized, have continued to post increasing profits, have NO toxic assets, and have plenty of money to lend to qualified Buyers, Entrepreneurs, and Business Owners.