JP Morgan interested in the Dominican Republic

JP Morgan interested in the Dominican Republic

The Governor of central bank of the Dominican Republic (BCRD), Héctor Valdez Albizu, received a delegation from the investment bank JP Morgan, with the aim of reviewing the advances in strategic issues aimed at developing local financial markets and strengthening the tools available to it the central bank for the achievement of its objectives.

JP Morgan reiterated its interest in continuing to develop a long-term relationship in the country.

The Dominican Republic is one of the economies that exhibits the best macroeconomic fundamentals in the region, making it more attractive to investors, said the central bank in a press release.

He added that the delegation also indicated its interest in being part of the development of innovative solutions and products that allow it to continue enhancing the development of the financial markets of the Dominican Republic.

JP Morgan stated that “the risk mitigation mechanisms we employ in each transaction, coupled with our respect for the history and reputation of the central bank“, gives them the peace of mind to continue fostering the development of a successful long-term relationship with the country.

JP Morgan is the leading global investment bank, with the largest market share among its peers.

On his side, Governor Valdez Albizu highlighted the macroeconomic stability that prevails in the country, the strength of its financial system, exchange rate stability and high levels of international reserves, together with its legal security and climate of social peace. In this context, the role of central bank has been to bring certainty to economic agents and the general public.

He indicated that the Dominican economy has maintained a good performance by registering an average expansion of 5.6% in the monthly indicator of economic activity (IMAE) during January-May 2022.

Likewise, he pointed out that, despite the fact that the current international context is full of uncertainty, the Dominican economy has proven to be resilient in the face of adverse shocks, for which it is expected to grow around 5.0% at the end of 2022, close to its potential growth.

The JP Morgan delegation was made up of executives Rob Cozzari, Geraldo Guanaes and Eugenio Alarcón.

They accompanied the governor of the central bank, manager Ervin Novas Bello; Deputy General Manager Frank Montaño; the deputy manager of Monetary, Exchange and Financial Policies, Joel Tejeda; the director of the Treasury department, Yamileh García Belén; and the consultants from the Treasury department, José Gabriel Perdomo, Liselotte Reyes and José Eduardo Agramonte.

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