IMF sees slower Dominican Republic growth at 4% in 2023


MEXICO CITY (Reuters) – The Dominican Republic’s economy is expected to grow around 4% in 2023, the IMF said on Monday, slowing from the 4.9% rise in 2022.

The economy is “one of the most dynamic and resilient in the Western Hemisphere over the last two decades,” the IMF said in a statement, crediting the island nation’s “sound” post-pandemic reforms.

“The strong recovery began moderating at the end of 2022 in response to tighter global financial conditions, lower global demand, and the appropriate withdrawal of policy stimulus, contributing to inflation’s convergence to its target,” the IMF said following a visit to the Dominican Republic.

The fund said the economic outlook for the Dominican Republic is positive, though subject to high uncertainty.

(Reporting by Isabel Woodford; Editing by Richard Chang)