The governor of the Central Bank (BCRD), Héctor Valdez Albizu, met with international executives from the investment bank Citibank, headed by Alberto Torres, head of the corporation for relations with the public sector in Latin America and the Caribbean, in which they requested to the governor an analysis of the behavior of the Dominican economy, its perspectives, as well as his impression of the recent scenarios produced as a result of the bankruptcies of financial entities that occurred in the United States and Europe.
Likewise, they pointed out the growing interest on the part of international investors for the bond issues in the Dominican Republic and the notable success of the auctions carried out, attributing it “in large part, to the reputational anchor and institutional strength of the Central Bank, which has been transmitted to other institutions in the Dominican Republic, such as, for example, in the management of fiscal policy”.
The governor indicated that said strength is evident in the final figure of foreign direct investment (FDI) registered in the DR during 2022, which amounted, after the final calculations, to US$ 4.010 million.
In this sense, he informed them that the improvement in the inflow of foreign currency has contributed to exchange stability, in such a way that at the end of 2022 the national currency showed an appreciation of 2.0%.
“This allowed the accumulation of international reserves, which reached the historical figure for a year-end of US$14,440.6 million in 2022 and which currently stands at about US$16 billion, equivalent to more than six months of imports and 13% of the gross domestic product (GDP)”.
Citibak executive
Alberto Torres highlighted that, within its investment plans in the Dominican Republic, “Citibank is interested in promoting projects in the country’s energy sector, responding to the appetite of international investors.”
Likewise, the executive of the investment bank asked Valdez Albizu for his vision of the latest financial events that have taken place in the United States and Europe, referring in particular to the bankruptcy and liquidity problems of financial institutions that caused the interventions of the corresponding supervisory bodies in these countries.
