Tourism development expected to increase in 2010. Pictured: Cap Cana.
SAN SALVADOR. - Central America and Dominican Republic will grow at a rate of 2.9 percent of their Gross Domestic Product in 2010, below the 4 percent predicted for the rest of Latin America, according to estimates of the International Monetary Fund (IMF).
The IMF’s main adviser for the Western Hemisphere department, Miguel Savastano, today in a press conference in San Salvador on Tuesday that one of the factors which explain which Central American countries aren’t going to grow as much as their continental neighbors is that they are raw material importers .
During the presentation of the report " Economic perspective. The Americas take advantage of the wind in its favor," with emphasis in the data for Central America and the Dominican Republic, the IMF technician affirmed that Latin America will grow at 4 percent.
The report estimates a 4.5 percent growth and even higher for those nations such as Mexico, Brazil, Peru, Chile or Colombia, because they are “net raw material exporters."
Written by: juanb, 18 May 2010 5:48 PM
From: Dominican Republic
Oh really?
4.5% growth for some. 4% average for Latin America. 2.9% for DR.
Wait till you see Saturdays gasoline prices.
By the way, gasoline closed at $69/barrel, the lowest price since last October.
Written by: juanb, 18 May 2010 5:55 PM
From: Dominican Republic
Where are all the kind words about LF's management of the economy, now? He's been feeding us BS for so long and we have been so happy and naive to believe it. Now we will start to find out the truth, hopefully.
Written by: jonbonz, 18 May 2010 5:58 PM
From: Dominican Republic, santo domingo
So the IMF that has been funding all the PWC powered economic growth has spoken. So we are further in Debt and now it appears that the silver bullet was really lead.
From: Dominican Republic, Puerto Plata
The real score?
With the elections now over, it is normal the economic activity slows down; the motoconchos, discolays, Daihatsu trucks, Cerveceria nacional, Brugal, chicken farmers from Higuey, helicopter pilots unemployed or with slow sales, a recession is coming!
No growth anticipated until 2012.
Written by: BASTA, 18 May 2010 6:00 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
Why should they do that? We are doing so well. Why also does every thing cost more here than the US. I for one refuse to eat out. I will not give those bums 24+10 % for taxes and bad service.
From: United States
The DR population deserves what they voted for.
60% didn't vote because they don't care.
Corruption will continue.
Leonel will be off on his photo op's for the length of his term which will probably be for another term.
This is what happens when no one cares.
Written by: jhcl2012, 18 May 2010 6:47 PM
From: United States
Is that the same "IMF" that called for a 0.5 PIB in 2009 for the Dominican Republic.
Result........ a 3.5 PIB.
:-)
From: Dominican Republic, vieja Santo Domingo
2.9 % is still a good growth rate in the present climate and there will probably be revisions in the rate for other latin countries as well as for here during the year ,,It is strange how some people sneer at the IMF when they give the DR good growth rates yet accept them when there is a fall in the growth rate ..seems to show a remarkable amount of mental instability and fragility. The other latin countries mentioned also fared much worse during the last several years than did the DR .
Written by: jonbonz, 18 May 2010 8:23 PM
From: Dominican Republic, santo domingo
Well lets see revised down right after the election. Makes one wonder about the timing.
Written by: lovingit, 18 May 2010 10:30 PM
From: United States, Delaware
I anticipate growth to be higher. Hasn't the IMF predicted lower growth for the DR for the last three years or so and the final numbers are have been at least 1 to 1.5 points higher than what they predicted? I personally feel that this was purposely done by the IMF to prevent too many investors from putting too much in the DR basket while minimizing investments in other parts of the Caribbean
Written by: zooma, 18 May 2010 11:38 PM
From: United States
Is it coincidence this announcement comes after the elections?
From: Dominican Republic
Latin America should try to unite and create a union and make one money one currency stronger so alot of us don't have to go these country's and endure all this racist experience that alot of us are going throught when we go to other first world country for a better life. Making a union with most of the latin america country's can make a difference we can compete with other first world country's. The european union did the same and brought down the dollar ever since they made a union. Lating country's need to unite to make things better for the future of our future genarations to come. Why do you think that europe create a union there is a reason why.
From: Dominican Republic
The IMF only favorites first world country's, any third world country that is trying to go up, they will down play their growth of any third world country the is trying to grow. Their job is to keep alot of third world country's under poverty to help first world country make money from this poor country's. Look at the name IMF ( International Monetary Fund) CREATE by first world country's. They lend money to third world country's to keep them in debt so third world country's currency willl always be down. That way first world country's can buy goods at a very low rate from third world country's. Because of that fact that these country have loans to pay with high interest. They will alwas lend money to make more interest. These loans are in bad faith no wonder why the members of the IMF are always making money.
From: Dominican Republic, vieja Santo Domingo
I will never be alive to see such a union with so many different contrasts ,,,can you imagine Colombia and Honduras and Argentina in a union with Venezuela or Cuba and I doubt if Chile or Brazil would see much benefit .
Written by: jonbonz, 19 May 2010 11:13 AM
From: Dominican Republic, santo domingo
Regardless of what some people think Latin America has the resources to build a robust local economy with out outside cash flow. We need to redefine how to measure a good economy by going by a quality life index rather than goods and services traded.
If every town and village was food independent then that would be a start. OK a good quality gas fridge is built in Brazil. I do not see gas fridges here for sale. Why not? If the refrigeration was dealt with then an average house with lights, Fans, TV and so forth would be down to 1kw or less on average. By the way a good bio-gas plant could be made out of two 400 gallon tanks. The feedstock for the bio gas could be table scraps. Then no purchase for propane. Because the propane was not purchased then there was no economic activity and that refrigeration is not counted for the economy. But the quality of life for that house is higher.
From: Puerto Rico
The idea of a United Latin America is a noble concept albeit a ludicrous one. The amount of division which occurs inside these countries is the first obstacle to such a union, the second one being that the ruling class of each is so playpen-minded that they are against anything that even resembles a union of economic power as such a concept usually requires for these to acknowledge that they are not Top-Doggies in an international level (monetarily speaking) since there are richer countries and thus families living elsewhere.
I hope that history advances the learning curve for these countries but if the situation occuring in Venezuela, Bolivia, Cuba, and others is any indication, the precondition for union is the advancement of a populist agenda which benefits only the party in power and the ousting of the rich. The poor are simple bystanders without any real benefits once the hoopla and dust is cleared (as always)
Written by: Atabey, 19 May 2010 3:10 PM
From: United States, NYC
"The idea of a United Latin America is a noble concept albeit a ludicrous one."
I agree with you 100%. The Euro has demonstrated the fallacy of bridging the various economies of Western Europe and some Eastern European countries together. From highly productive economies like Germany's to lower ones in the South and East, the system has failed because the designers never forced the individual nations to allow all national fiscal plans to be vetted before passage. Now that some economies are in the tank, like Greece, Spain, and Portugal, Ireland, etc., the major powers behind the Euro are forcing through this urgent and much needed modification of the treaty. Now this happens within the confines of the world's largest economic union, where there are many carrots to offer the individuals nations or partners. Can you imagine the task it would be forcing the different nations of Latin America to accept fiscal restraints as a precondition to monetary and economic unification?
Written by: danny00, 19 May 2010 4:09 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
for the dr to grow to achieve long-term growth with a strong currencies they will have to export increasingly SOPHISTICATED GOODS, and that will require more innovation and MUCH MORE EDUCATION.
if u look over your shoulder for one minute and look at asia and their growth rate.
the bulk of latin america's investments in research and developent are state-funded projects on THEORETICAL issues of no commerical value.
consider this south korea registered 80,000 patents last year BRAZIL REGISTERED ONLY 580
MEXICO 330 ----- ARGENTINA ONLY 80.
THE DOMINICAN REPUBLIC?
Written by: danny00, 19 May 2010 4:13 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
Written by: LatinAmericaUnion, 19 May 2010 10:49 AM
From: Dominican Republic
The IMF only favorites first world country's, any third world country that is trying to go up, they will down play their growth of any third world country the is trying to grow. Their job is to keep alot of third world country's under poverty to help first world country make money from this poor country's
HARD TO FIND WORDS ABOUT THIS STATEMENT.
THEY ARE MAKING MONEY FROM THIS?.... REALLY!
NO ONE IS PLAYING DOWN ANYTHING OR ANY-ONE
Written by: danny00, 19 May 2010 4:16 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
maybe with the new dominican space program on the table the dr's rating will go up? who knows maybe the world intellectual property organization will open their arms and welcome us.
guess u have no idea what im talking about do u?
Written by: danny00, 19 May 2010 4:19 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
but have no fears all is well in the land of "smoke and mirrors"
the dr's rating and numbers will advance this year. for sure.
is any thing for real in the dr?
Written by: jonbonz, 19 May 2010 4:35 PM
From: Dominican Republic, santo domingo
I can assure that the Debt is real.
Written by: danny00, 19 May 2010 4:59 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
Written by: jonbonz, 19 May 2010 4:35 PM
From: Dominican Republic, santo domingo
I can assure that the Debt is real.
YES THATS FOR SURE...
Written by: danny00, 19 May 2010 5:11 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
In April, Central Bank Governor Hector Valdez Albizu had forecast the DR economy would grow 8%.
ok!
Written by: danny00, 19 May 2010 5:16 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
11. 18-vehicle crash
A multi-vehicle collision occurred on the Duarte Highway in Villa Altagracia, 43 kms from the center of Santo Domingo on Monday, 17 May. Four people were injured, some seriously. As reported in Listin Diario, the accident occurred when a freight truck driving at excessive speed from north to south impacted several vehicles. The pile-up caused significant traffic congestion on the highway from 3pm to 7pm, and required a detour for traffic to flow.
its about the time to LYNCH SO TRUCK DRIVERS. EVERY WEEK THEY HURT OR KILL MANY PEOPLE.
Written by: jonbonz, 19 May 2010 8:28 PM
From: Dominican Republic, santo domingo
Danny Please let us know how yo't remeber seeing you before. I could youu really feel. You should not hold back. BTW Welcome I don't remember seeing you before.
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4.5% growth for some. 4% average for Latin America. 2.9% for DR.
Wait till you see Saturdays gasoline prices.
By the way, gasoline closed at $69/barrel, the lowest price since last October.
With the elections now over, it is normal the economic activity slows down; the motoconchos, discolays, Daihatsu trucks, Cerveceria nacional, Brugal, chicken farmers from Higuey, helicopter pilots unemployed or with slow sales, a recession is coming!
No growth anticipated until 2012.
60% didn't vote because they don't care.
Corruption will continue.
Leonel will be off on his photo op's for the length of his term which will probably be for another term.
This is what happens when no one cares.
Result........ a 3.5 PIB.
:-)
Is it coincidence this announcement comes after the elections?
If every town and village was food independent then that would be a start. OK a good quality gas fridge is built in Brazil. I do not see gas fridges here for sale. Why not? If the refrigeration was dealt with then an average house with lights, Fans, TV and so forth would be down to 1kw or less on average. By the way a good bio-gas plant could be made out of two 400 gallon tanks. The feedstock for the bio gas could be table scraps. Then no purchase for propane. Because the propane was not purchased then there was no economic activity and that refrigeration is not counted for the economy. But the quality of life for that house is higher.
I hope that history advances the learning curve for these countries but if the situation occuring in Venezuela, Bolivia, Cuba, and others is any indication, the precondition for union is the advancement of a populist agenda which benefits only the party in power and the ousting of the rich. The poor are simple bystanders without any real benefits once the hoopla and dust is cleared (as always)
I agree with you 100%. The Euro has demonstrated the fallacy of bridging the various economies of Western Europe and some Eastern European countries together. From highly productive economies like Germany's to lower ones in the South and East, the system has failed because the designers never forced the individual nations to allow all national fiscal plans to be vetted before passage. Now that some economies are in the tank, like Greece, Spain, and Portugal, Ireland, etc., the major powers behind the Euro are forcing through this urgent and much needed modification of the treaty. Now this happens within the confines of the world's largest economic union, where there are many carrots to offer the individuals nations or partners. Can you imagine the task it would be forcing the different nations of Latin America to accept fiscal restraints as a precondition to monetary and economic unification?
if u look over your shoulder for one minute and look at asia and their growth rate.
the bulk of latin america's investments in research and developent are state-funded projects on THEORETICAL issues of no commerical value.
consider this south korea registered 80,000 patents last year BRAZIL REGISTERED ONLY 580
MEXICO 330 ----- ARGENTINA ONLY 80.
THE DOMINICAN REPUBLIC?
From: Dominican Republic
The IMF only favorites first world country's, any third world country that is trying to go up, they will down play their growth of any third world country the is trying to grow. Their job is to keep alot of third world country's under poverty to help first world country make money from this poor country's
HARD TO FIND WORDS ABOUT THIS STATEMENT.
THEY ARE MAKING MONEY FROM THIS?.... REALLY!
NO ONE IS PLAYING DOWN ANYTHING OR ANY-ONE
guess u have no idea what im talking about do u?
the dr's rating and numbers will advance this year. for sure.
is any thing for real in the dr?
From: Dominican Republic, santo domingo
I can assure that the Debt is real.
YES THATS FOR SURE...
ok!
A multi-vehicle collision occurred on the Duarte Highway in Villa Altagracia, 43 kms from the center of Santo Domingo on Monday, 17 May. Four people were injured, some seriously. As reported in Listin Diario, the accident occurred when a freight truck driving at excessive speed from north to south impacted several vehicles. The pile-up caused significant traffic congestion on the highway from 3pm to 7pm, and required a detour for traffic to flow.
its about the time to LYNCH SO TRUCK DRIVERS. EVERY WEEK THEY HURT OR KILL MANY PEOPLE.