Being a net fuel importer, the Dominican Republic has greatly benefitted from the drop in oil prices. It is largely thanks to this price drop that the current account deficit dropped from 4.1% of GDP in 2013 (and around 7% in the prior three years) to 3.1% in 2014. This figure still implies a significant financing need, however, which the Dominican Republic has found difficult to meet. Short-term debt has edged up in recent months while reserves have declined. The latter now again represent less than three months of goods and services imports, indicating an elevated liquidity risk. This evolution, along with downside risk pertaining to the gradual tightening of international financing conditions, has urged Credendo Group to downgrade the Dominican Republic’s short-term political risk classification from category 2/7 to 3/7.
15 Nov 2019
The Caribbean and Pacific islands: Climate change leading to rapidly increasing risks in the most vulnerable countries
The Caribbean and Pacific islands: major victims of climate change
COUNTRIES : Anguilla Antigua and Barbuda Dominica Sri Lanka Grenada Vanuatu Tuvalu Virgin Islands (American) Fiji Kiribati Marshall Islands Micronesia Nauru Palau Samoa (American) Solomon Islands Tonga Bahamas Barbados Bermuda Cayman Islands Dominican Republic Guadeloupe Haiti Jamaica Martinique Montserrat Puerto Rico St.Barthelemy (FR) St.Kitts and Nevis St.Lucia St.Martin (FR) St.Vincent and the Grenadines St.Martin (NL) Turks and Caicos Islands