Dominican Republic to Grow by 5.5% in 2011 and 2012 According to the IMF

Dominican Republic to Grow by 5.5% in 2011 and 2012 According to the IMF
Dominican Republic, Santo Domingo 06/21/2011

The Dominican Republic will experience 5.5% economic growth in 2011 and 2012, placing it among the countries in the Caribbean region with the healthiest economy, according to a recent report from the International Monetary Fund (IMF).

The IMF stressed that Latin America could see consolidated economic growth above 4% between 2011 and 2012.

The IMF stressed that Latin America could see consolidated economic growth above 4% between 2011 and 2012. Reports indicate that Central America and the Caribbean are improving their economic perspectives and that Panama will have an estimated growth of 7.4% in 2011 and 7.2% in 2012. The Dominican Republic, with 5.5% growth for both years, is leading the region.

The IMF stated that Latin America’s economies will grow at a rate of 4.6% in 2011 and 4.1% in 2012, one-tenth less that stipulated two months ago, according to a press release from the Presidency.

The IMF, a multilateral banking organization, maintained its growth predictions in 2011 with little variation for the majority of the countries in the region.

In this sense, the IMF indicated that only Brazil is seeing reductions in its growth predictions from 4.1% in 2011, four-tenths lower than forecasted in April and 3.6% in 2012, five-tenths less than in recent predictions.

In South America, the best prognostications are for Peru, with 6.6% for this year and 5.9% for next; Chile, 6.2% for 2011 and 5% for 2012; Colombia, 4.6% for 2011 and 4.5% for 2012.

In the case of de Venezuela, the International Monetary Fund is hoping for 3.3% for 2011 and 3.9% for 2012.

The IMF is predicting that Guatemala will experience 3% for 2011 and 3.2% for next year; Costa Rica, 4.3 and 4.4%, respectively.

Likewise, the IMF is hoping that Mexico maintains its good economic indicators wherein growth is estimated at 4.7% for 2011 and 4% for 2012, nearly identical to its April analysis.

The IMF recommends that Mexico makes adjustments in its macroeconomic policies which, it says, “will be fundamental in order to confront the challenges within an international context where there continues to be instability between the developing and the advanced economies.”