Santo Domingo.- The Greater Santo Domingo (AEIH) Industries Association warned Sunday that the country will be "putting out monetary fires" until it develops an export strategy that guarantees a strong external sector to generate currency.
Organization president Victor Castro said the Central Bank's measures to contain the unusual spike in the dollar’s rate confirm the need to move towards production with a widened competitive platform. "Other economies have withstood major devaluations than Dominican Republic’s, but we haven’t seen any of the monetary nonsense as here, because they are supported by sectors that earn sufficient foreign currency."
Castro noted that although president Danilo Medina’s campaign promised stimulus for Dominican exporter, little efforts are currently seen, starting with the notion of getting the Foreign Service to conquer markets.
He said official decisions are neither seen, as the campaign promised, on making tourism a motor for development. “It will be impossible to achieve the sector’s goal "doing more of the same."