The Banks Association Multiples from the Dominican Republic (ABA) valued today as vital the contribution of the scheme of inflation targetingestablished by the Central Bank of the Dominican Republic (BCRD), to generate certainty in economic and financial agents and price stability, for the sake of a business climate that is conducive to domestic and foreign investment.
The ABA highlighted the importance for a developing economy, such as the Dominican Republic, of assuming the commitment to maintain the inflation in the target range of 4% ± 1as of 2012, except when inflationary pressures have a high imported component, as is the case with the post-covid situation and geopolitical conflicts that have generated supply and demand shocks.
In a press document, he stated that “the commitment and efforts to achieve the goal of inflation have been the monetary policy compassguiding the Dominican economy towards levels of sustained and top growth in the region during the last decade”.
He expressed that the economic growth It is essential to be able to meet the social requirements and well-being of the population, and for this it is necessary to maintain stability in the country.
Likewise, the union affirmed that this monetary policy has been a guarantee to promote local and foreign investment. “Economic stability is one of the main inputs that investors take into account when making their business plans, along with clear market rules, private security, legal security and social stability,” said the ABA.
He recalled that, as recently reported by the Central Bank, the average inflation fell from 13.0 to 3.5% during the last decade, which has provided certainty for the establishment of new businesses and the growth of existing ones.
The entity that brings together the country’s multiple banks recognized, in this way, the importance of maintaining efforts in the country to comply with the inflation target in the Dominican Republic, thus contributing to the generation of jobs and wealth among the population.
