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LatinNews Daily - 09 June 2020
In brief: DR’s economic activity slumps in first four months of 2020
* The Dominican Republic’s central bank (BCRD) has released new figures for its monthly economic activity index (Imae), which show that the DR’s economic activity shrank by 7.5% in the first four months of 2020 compared with the same period in 2019, due to the impact of the coronavirus (Covid-19) pandemic. The worst-hit sector was hotels, bars & restaurants, which contracted by 34.1%, followed by construction (-24.5%) and mining (-11.4%). The BCRD figures also show that the Imae for April 2020 contracted by 29.8% year-on-year. On 19 May, President Danilo Medina announced a phased reopening of the country’s economy, which the United Nations Economic Commission for Latin America and the Caribbean (Eclac) expects that the country will register zero growth in 2020 - the highest in the Caribbean region, bar Guyana.
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