Spanish
Santo Domingo.– The president of the Republic, Luis Abinader, defended his government's economic policy, assuring that the devaluation of the Dominican peso against the US dollar has been “minimal” in the last five years.
The president attributed the exchange rate stability to a combination of appropriate monetary and fiscal policies, as well as the robust performance of the country's productive sectors.
The head of state spoke in these terms during an interview granted this Friday, prior to the inauguration of the access road to the Aguas Blancas Waterfall, in Constanza.
Abinader explained that the Dominican Republic is favorably managing a "systemic crisis" affecting Latin America. "There is a perfect combination between monetary policy and fiscal policy," he stated, highlighting that this strategy has allowed maintaining the stability of the foreign exchange market.
The president pointed out that the abundance of dollars in the local market is the key to the stability of the exchange rate. This abundance, he said, comes from the main drivers of the economy: tourism, free zones, the increase in remittances from the United States, and the increase in exports, including gold.
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He backed up his statements with concrete data, comparing the current situation with that of 2020. "In 2020, the dollar was at 59 pesos, while yesterday it was around 62 pesos," he indicated. Despite this slight increase, he emphasized that the accumulated devaluation in the last five years has been "minimal" and has occurred normally, reflecting the strength of the sectors that generate foreign currency. In addition to referring to the economy, Abinader highlighted the importance of improving the connectivity of Greater Santo Domingo and promised new investments in road infrastructure and transportation for the region.
