Dominican Republic
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2003-2004 , pp 295-302
- Publication Date: December 2004
- DOI: https://doi.org/10.18356/60cd85bb-en
- Language: English
In 2003 the economy of the Dominican Republic was affected by the banking crisis that broke out in the second quarter of the year, requiring a financial bail-out that cost the equivalent of 20% of GDP. This crisis resulted in a drop of 0.4% in productive activity and in severe macroeconomic imbalances, including an abrupt currency devaluation (74%), a considerable increase in inflation (which went as high as 42.7%), a large deficit (4%) in the non-financial public sector and a quasi-fiscal Central Bank deficit of 2.5% of GDP.
© United Nations
ISBN (PDF):
9789211555202
Book DOI:
https://doi.org/10.18356/72d77e9d-en
Related Subject(s):
Economic and Social Development
Sustainable Development Goals:
Countries:
Dominica
;
Dominican Republic
-
From This Site
/content/books/9789211555202s004-c022dcterms_title,dcterms_subject,pub_keyword-contentType:Journal -contentType:Contributor -contentType:Concept -contentType:Institution105
/content/books/9789211555202s004-c022
dcterms_title,dcterms_subject,pub_keyword
-contentType:Journal -contentType:Contributor -contentType:Concept -contentType:Institution
10
5