Macroeconomic Forecast Dominican Republic

The decline in economic growth in the US is starting to make its impact felt on the Dominican Republic, with remittance growth slowing substantially during the first half of this year to 6.6% y-o-y, compared to 13.9% during the same period a year earlier. Measuring US$1.56bn during the first six months of 2008, we believe that remittances this year will struggle to substantially exceed last year's US$3.03bn figure.

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