Economy & Business - January 2023

DOMINICAN REPUBLIC | Record net international reserves. On 3 January the Dominican Republic’s central bank (BCRD) released new figures which show that the country’s net international reserves totalled US$14.4bn at the end of 2022, the highest level in the country’s history. This is up from US$13.0bn in 2021. BCRD said that this reflects “notable dynamism” in “sectors generating foreign exchange, the robust macroeconomic climate and the important role of monetary…policies implemented by the BCRD”, among other things. It highlights the performance of sectors such as tourism, which generated US$8.67bn in 2022, exports which reached a record US$14.2bn, and remittances which amounted to US$10bn.