Santo Domingo, Dominican Republic. – Dominican Republic will have a more positive economic recovery rate against the crisis caused by the Covid-19 pandemic, than that projected a few months ago, even before the United States.
This is what economist Rael Anbal Féliz says by participating in the virtual discussion “Situation and the economy and monetary sector in the world and in Latin America” of the Association of Commercial Banks of the Dominican Republic (ABA), Head of Consulting and the Institute of Finance of Santo Domingo.
Happy said his recovery for the Dominican economy would be more even than that of the United States.
“Lately there is a strong recovery in key global markets, such as the United States, the country’s largest trading partner. This recovery would take a position for two main reasons: the expectations of a vaccine until the end of 2020 or early 2021, and the large financial stimulus programs,” explained the eminent economist in Mexico City.
Similarly, he noted that the pandemic is an unpublished phenomenon, unknown to the generations of human beings who have recently inhabited the planet, and that, therefore, we are informed as we move forward, either in terms of the remedy of the disease. itself, as well as the economic effects it produces.
About the financial system
Regarding the monetary system, the economist and instructor at the Center for Economic Research and Education (CIDE) in Mexico City pointed out that banking in the Dominican Republic continues to be a developing industry.
In the scenario of uncertainty, he warned that several banks have as healthy a portfolio as possible, sufficiently good degrees of liquidity, provisions and capital, which the Dominican banking sector says has done in recent years.
It also definitively called mutual guarantee fund schemes in which the credit threat is shared between personal banks and the Dominican public sector, recommending that, to be successful, they be well designed from the outset, with the clarity of the threats taken.
The virtual conference was attended by bank presidents and senior bank officials.
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