LatinFinance - March/April 2016 - 27
Sovereign debt
Magín Díaz interview
INVESTOR
REPORT
DOMINICAN
REPUBLIC
PAGE 34
Energy
Decanting growth
PAGE 37
The Dominican effect
The Dominican Republic's economy is outpacing those of big and small countries alike - across
Latin America. And prospects are looking up, thanks to a healthy mix of domestic demand,
tourism and foreign investment in strategic sectors. By L ucien Chauvin
Institutional investors also like what
they see, and have snapped up Dominican
paper. A $1 billion, 10-year bond was priced
at a final yield of 6.875% in late January after
generating an order book of $3 billion. The
proceeds were used to partially finance the
2016 budget.
"The Dominican Republic is now seen by
the capital markets as a very good country
for investment. It not only has high liquidity in the markets, but also the economic
fundamentals that investors are looking
for," says vice minister of public credit,
Magín Díaz.
The International Monetary Fund (IMF),
which reviewed the Caribbean country in
February, reported that the "Dominican
economy has continued its vibrant perPOINTING UP: President Danilo
Medina is optimistic about the
country's growth
Source: Reuters
President Danilo Medina struck a bullish
tone in his late February State of the Union
address, saying growth this year for the
Dominican Republic would be 6%, making
the country an oasis in a region that, according to the IMF, is set to contract in
2016. Inflation is under control at around
2%, the current account deficit has fallen
to around 2% and international reserves
have increased. Exports last year were approximately $9.6 billion and should top $10
billion in 2016. Foreign direct investment
(FDI), meanwhile, is expected to average
around 4% of GDP for this year and next.
Rating agencies, investors and international organizations convey an optimism
on par with Medina's, who is up for re-election on May 15. Fitch Ratings and Standard
& Poor's raised their sovereign ratings
in the past 12 months and their analysts
forecast growth to stay well above regional
averages in the near-term.
Manuel Rocha, president of the country's principal mining company, Pueblo
Viejo Dominicana Corporation, a joint
venture between two Canadian owners,
says the government has been consistent in
its policies, "establishing rules of the game
that have allowed for a steady increase in
foreign investment."
March/April 2016 - L ATINFINA NCE.COM 27
http://www.LATINFINANCE.COM
Table of Contents for the Digital Edition of LatinFinance - March/April 2016
Contents
LatinFinance - March/April 2016 - Cover1
LatinFinance - March/April 2016 - Cover2
LatinFinance - March/April 2016 - Contents
LatinFinance - March/April 2016 - 2
LatinFinance - March/April 2016 - 3
LatinFinance - March/April 2016 - 4
LatinFinance - March/April 2016 - 5
LatinFinance - March/April 2016 - 6
LatinFinance - March/April 2016 - 7
LatinFinance - March/April 2016 - 8
LatinFinance - March/April 2016 - 9
LatinFinance - March/April 2016 - 10
LatinFinance - March/April 2016 - 11
LatinFinance - March/April 2016 - 12
LatinFinance - March/April 2016 - 13
LatinFinance - March/April 2016 - 14
LatinFinance - March/April 2016 - 15
LatinFinance - March/April 2016 - 16
LatinFinance - March/April 2016 - 17
LatinFinance - March/April 2016 - 18
LatinFinance - March/April 2016 - 19
LatinFinance - March/April 2016 - 20
LatinFinance - March/April 2016 - 21
LatinFinance - March/April 2016 - 22
LatinFinance - March/April 2016 - 23
LatinFinance - March/April 2016 - 24
LatinFinance - March/April 2016 - 25
LatinFinance - March/April 2016 - 26
LatinFinance - March/April 2016 - 27
LatinFinance - March/April 2016 - 28
LatinFinance - March/April 2016 - 29
LatinFinance - March/April 2016 - 30
LatinFinance - March/April 2016 - 31
LatinFinance - March/April 2016 - 32
LatinFinance - March/April 2016 - 33
LatinFinance - March/April 2016 - 34
LatinFinance - March/April 2016 - 35
LatinFinance - March/April 2016 - 36
LatinFinance - March/April 2016 - 37
LatinFinance - March/April 2016 - 38
LatinFinance - March/April 2016 - 39
LatinFinance - March/April 2016 - 40
LatinFinance - March/April 2016 - 41
LatinFinance - March/April 2016 - 42
LatinFinance - March/April 2016 - 43
LatinFinance - March/April 2016 - 44
LatinFinance - March/April 2016 - 45
LatinFinance - March/April 2016 - 46
LatinFinance - March/April 2016 - 47
LatinFinance - March/April 2016 - 48
LatinFinance - March/April 2016 - 49
LatinFinance - March/April 2016 - 50
LatinFinance - March/April 2016 - 51
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LatinFinance - March/April 2016 - 54
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LatinFinance - March/April 2016 - 56
LatinFinance - March/April 2016 - 57
LatinFinance - March/April 2016 - 58
LatinFinance - March/April 2016 - 59
LatinFinance - March/April 2016 - 60
LatinFinance - March/April 2016 - 61
LatinFinance - March/April 2016 - 62
LatinFinance - March/April 2016 - 63
LatinFinance - March/April 2016 - 64
LatinFinance - March/April 2016 - Cover3
LatinFinance - March/April 2016 - Cover4
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