Macroeconomic Forecast Dominican RepublicAugust 2012 | Macroeconomic Forecasts
The Dominican Republic's foreign reserves contracted by 3.4% year-on-year (y-o-y) in July to US$3.1bn. The ongoing deterioration of the global economic backdrop has had a negative impact on both tourism and remittances in the Dominican Republic, two key sources of foreign exchange inflows for the country. This has resulted in a slower accumulation of reserves than we had previously anticipated, and we are therefore revising our end-2012 foreign reserves forecast from US$4.0bn to US$3.6bn.
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