The American Chamber of Commerce of the Dominican Republic considered that the measures announced by the Central Bank on May 31 will contribute to the sustainable growth of the country’s economy.
It estimated that the reduction of the monetary policy rate (TPM) from 8.5% to 8% per annum and the release of legal reserve requirements ordered by the Monetary Board, will contribute RD$94 billion of fresh resources that will be available for financing at lower interest rates.
“We celebrate the leadership shown by the Central Bank in its consideration of the national economic activity, and in the timely taking of monetary policy decisions that stimulate the return to growth in a sustainable manner, confident that the private sector will take advantage of this change in monetary stance by accelerating efforts for the execution of projects that raise the level of accumulated investment”, said the Board of Directors of the organization in a communiqué sent to AL MOMENTO.
It goes on to add: “These measures create more formal jobs in the Dominican Republic and generate new opportunities for long-term investment and the expansion of trade under initiatives such as those led by the AMCHAMDR”.
It indicates that the adoption of these measures reflects a positive turnaround in the country’s inflation outlook, which makes it possible and timely to adopt a monetary policy to stimulate economic growth.