The Governor of the Central Bank (BCRD), Héctor Valdez Albizu, led the act of putting the work into circulation ‘Analysis of the International Situation (ACI): Essays on the impact of the world economy on the Dominican external sector, volume III’a compendium of essays carried out by officials and technicians of the International department, directed by its director, Brenda Villanueva, as well as by high-level experts belonging to other departments of the institution.
During the activity held at the institution’s Juan Pablo Duarte Library, Valdez Albizu expressed that “the analysis and constant evaluation of the external and internal conditions in which the Dominican economy operates constitute fundamental tools of the Central Bank, both for the decisions, as well as for the implementation of the necessary measures that seek to maintain price stability and the dynamism of economic performance, despite the adverse shocks that the international environment presents”.
The governor pointed out that, within the framework of Covid-19 and its consequences, the disruptions in supply chains, the international rise in the prices of raw materials, the increase in container transport costs, and the uncertainty generated by the Russia-China conflict, ‘both monetary and fiscal policy decisions have been wise and prudent’.
Likewise, he referred to the forecasts for the external sector, indicating that ‘they point to a favorable performance in terms of foreign currency income, higher exports, income from tourism and foreign direct investment (FDI), with remittances at levels above the pre-pandemic. All this has favored the stability of the exchange market, as well as record levels of international reserves, which contributes to a climate of certainty for economic agents’.
Brenda Villanueva explained in her presentation that the ACI Volume III includes a selection of relevant issues at a global level that affect the economy of our country, especially in the external sector for the period 2018-2021.
He explained that ‘the work is made up of 65 essays written with preferential topics, among which are the exchange market, the balance of payments, external financing, and the performance of different economies, such as the United States, Europe, China and Latin America, among other topics.
The director of the International department cited some titles such as: ‘Dominican investment in free zone companies in Haiti: What motivates this business scheme?’; ‘Potential of green bond issues in the Dominican Republic’; or ‘The “Great Encierro”: What does it mean for the Dominican exchange market?’, among others.
Volume III of ACI is edited by Ana Estefany Germosén, deputy director of Domestic Exchange Affairs; Yadira Caminero Tavarez, Head of Division, of the Sub-Directorate of Balance of Payments; and its director Brenda Villanueva.
The work, available in the International Environment section of the BCRD website (https://www.bancentral.gov.do/a/d/2585-entorno-internacional), constitutes a sample of the commitment of the BCRD and its authorities to keep economic agents and the general public informed about international economic phenomena and their possible incidences in the national environment, being also a complementary tool for economic analysis and debate. .
During the ceremony, Governor Valdez Albizu was accompanied at the main table by the lieutenant governor, Clarissa de la Rocha; the manager, Ervin Novas Bello; the comptroller, José Manuel Taveras; the assistant general manager, Frank Montaño; the assistant manager of Monetary, Exchange and Financial Policies, Joel Tejeda; and the International Director, Brenda Villanueva.
Likewise, the publication was attended by other BCRD officials and guests, including Martín Zapata, Vice Minister of Finance; Julio Caminero, mayor of banks; Luis Valdez, head of the General Directorate of Internal Taxes; and the economists Magín Díaz, Magdalena Lizardo, Fabricio Gómez Mazara and Henri Hebrard, among others.