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Dom Rep Pays Over 14 Billion Dollars in Foreign Debt

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The Dominican government has announced that in the past seven years it has paid 14.3 billion dollars in foreign debt.

According to a press release from the Ministry of Finance, of this payment 8.9 billion correspond to capital maturities and 5.4 to commissions and interest.

The Institution also reaffirmed that the country implements a cautious and responsible debt management, focused on ensuring the maintenance of macroeconomic stability and the flow of resources to address social investment in education and health, as well as infrastructure. The institution also explained that thanks to financing contracted and taxes raised ‘since 2013 there have been infrastructure works for an estimated amount of 14.6 billion dollars in projects to improve citizens’ quality of life.

The figures revealed that the debt levels of the non-financial public sector are below that of their regional neighbors, while at closing April 2019, the Dominican debt was 38.9 of the Gross Domestic Product, compared to an average of 53 for Central America and the Caribbean. (https://www.plenglish.com/index.php?o=rn&id=42896&SEO=dom-rep-pays-over-14-billion-dollars-in-foreign-debt)

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