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LatinNews Daily - 19 March 2020

In brief: DR’s central bank announces emergency measures

* The Dominican Republic’s central bank (BCRD) has announced a series of measures to counteract the effects of the coronavirus (Covid-19) pandemic. Among other things, it has reduced the monetary policy rate from 4.50% to 3.50%. It has also announced it will inject RD$52bn (US$962m) into the financial system, with RD$10bn earmarked for loans to households, small and medium-size businesses (SMEs), and the trade sector, along with RD$12.3bn for the productive sectors - mainly tourism and exports. The BCRD also announced that it has authorised financial institutions to restructure the terms of payment, interest rates, and other factors for creditors.

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