The author and economist affirmed that the DR is one of the “surprise countries”, characterized by high growth, controlled inflation and a rising stock market
Despite the adverse international situations and the talk of a global recession, Dominican Republic it is considered a “surprise country” and is in good condition to come out on top if this happens.
so stated Moses Naimthe renowned economist and former executive director of the world Bankwho stressed that a world recession does not necessarily have to overshadow and reduce the country’s growth, because it can navigate these turbulent waters and come out on top.
He cited among the list of “surprise countries” a Vietnam, Indonesia, India, Portugal, Greece, Japan, Guyana, and Saudi Arabia. And these countries have in common that they are growing much more than expected, with averages of more than 5%. They also have controlled inflation and a rising stock market.
“These results contradict the image we have of these countries. And the Dominican Republic should be on this list, because what these countries do well, you do well. And they are on the list of good surprises”, he highlighted during the conference organized by the Reserve Bank, “The world economy: surprises, emergencies and solutions”.
We invite you to read: IMF: The worst is yet to come, and for many people 2023 will feel like a recession
The economist stated: “You know that you are doing well and you know what you still have to do, and what are the tasks that are not going to be corrected, but you also know the tasks that are going to be corrected”.
He expressed that the surprise countries are those that go against the current and for these these forecasts of crisis and recession do not apply. And they are examples because they are better armored to protect themselves from international situations.
He also stressed that the era of cheap money is over and international and local loans will be more expensive and it is necessary to think more about what is being financed. And he said that if inflation is not controlled there will be more policy rate hikes in the United States and Europe.
In his conference he indicated that democracy is in danger of extinction and is affected by the political realities of these times: populism, polarization and post-truth.
The author of books such as “The End of Power”, “Rethinking the World”, “Illicit” and the most recent “The Revenge of the Powerful”, said that the percentage of the world population living under a dictatorship has increased in a decade from 49% to 70 percent.
