Santo Domingo.- Moody’s Ratings, Risk Qualifying Agency, has improved the credit rating of the Dominican Republic, raising it from “BA3+” to “BA2” with a stable perspective, which highlights the macroeconomic strength of the country, its sustained growth and significant advances in institutional matters.
Lee: Moody’s rises credit rating of the Dominican Republic of BA3 to BA2
According to the report published this Friday, Moody’s emphasizes that the Dominican economy has maintained an average growth rate close to 5 % per year during the last 15 years, driven by greater diversification of productive sources, structural reforms and a macroeconomic stability environment.
Since 2020, the country has not only resumed the path of growth after the effects of pandemic, but also strengthened its institutionality, both at the legislative and executive level, backed by an active civil society.
“High political stability, especially compared to other countries with BA rating and regional peers, helps the Dominican Republic to arranged high levels of foreign direct investment, an increase in tourism income and a constant flow of remittances from abroad. These factors support the country’s foreign exchange reserves, which remain at historically high levels, strengthening their external position and limiting their vulnerability to their vulnerability in the face of event. Point out the document.
The agency also highlights improvements in public administration, reflected in a greater fiscal planning capacity, a prudent management of debt and a political and social cohesion that contrasts with the high polarization observed in other countries in the region.
This is the first improvement in the sovereign qualification of the Dominican Republic by Moody’s since June 2017. The decision was taken after the change of perspective from stable to positive in 2023, when the qualifier recognized the proactive management of debt and institutional advances in the country.
