The term entry crisis shows a complicated situation that requires attention. The world has not recovered from the impacts of COVID-19 in economic and health terms.
The picture is complicated by the situation of Ukraine and Russiacausing international prices of Petroleum are affected, as well as the wheatcorn, soybeans, among other raw materials used in the production of various industries globally.
As for personal finances, citizens begin to ask themselves what to do in times of crisis and whether or not to invest the little money they have saved.
Diario Libre spoke with Federico Castillo, director of Business & Markets, who points out that at present we have to be a little cautious with the issue of investments and with debts.
“The first thing is that in order to invest you should get advice from a good financial advisor. investmentswhich can be through the Stock Market of the Dominican Republic, it can be with an international advisor if you are going to invest in the stock market of the different markets”, he indicated.
In relation to debts, Castillo recommends paying off as much as possible and trying to generate extra income, in order to create an emergency fund because in a crisis you cannot predict when it will end.
“I think it’s not going to be a long crisis, the markets are going to stabilize in the coming weeks or months. There is a negotiation process between Russia and Ukraine that is going to happen, but we as a country must cover ourselves in every sense of the word, both the government and the citizens,” he said.
He reiterated that one must be cautious with the issue of debt, of embarking on medium and long-term projects that have to do with considerable amounts.
“Here people invest in commercial paper, term deposits, there are options in banking and options in the stock market”Business & Market Director
On the subject of buying the dollar, he points out that it would not be bad to buy dollars now because the currency is down and at some point the dollar will have to rise.
He explains that as long as you have the ability to buy dollars, you can. But, he reiterates, that in crisis and in times of stability all investment to be done must be advised.
