多米尼加共和国：2025年第四条磋商新闻稿；多米尼加共和国执行主任的工作人员报告和声明

2025 ARTICLE IV CONSULTATION—PRESS RELEASE;STAFF REPORT;AND STATEMENT BY THE EXECUTIVEDIRECTOR FORDOMINICAN REPUBLIC Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussionswith members, usually every year. In the context of the 2025Article IV consultation withtheDominican Republic, the following documents have been released and are included inthis package: •APress Releasesummarizing the views of the Executive Board as expressed during itsNovember 12, 2025consideration of the staff report that concluded the Article IVconsultation withthe Dominican Republic. •TheStaff Reportprepared by a staff team of the IMF for the Executive Board’sconsideration onNovember 12, 2025, following discussionsthat ended onSeptember12, 2025,with the officials oftheDominican Republicon economicdevelopments and policies. Based on information available at the time of thesediscussions, the staff report was completed onOctober27, 2025. •AnInformational Annexprepared by the IMF staff. •AStatement by the Executive DirectorfortheDominican Republic. TheIMF’s transparency policy allows for the deletion of market-sensitive informationand premature disclosure of the authorities’ policy intentions in published staff reportsand other documents. Copies of this report are available to the public from International Monetary Fund•Publication ServicesPO Box 92780•Washington, D.C. 20090Telephone: (202) 623-7430•Fax: (202) 623-7201E-mail:publications@imf.org Web:http://www.imf.org International Monetary FundWashington, D.C. IMF Executive Board Concludes 2025 Article IV Consultationwith the Dominican Republic FOR IMMEDIATE RELEASE •Growth in the Dominican Republic is projected to pick up in the period ahead,underpinned by the authorities’ supportive policies. This follows a slowdown in late 2024and the first half of 2025 due to increased uncertainty and tighter financial conditions. •The Dominican Republic has strong economic fundamentals and policy space to respondshould risks materialize, leaving it well-positioned to weather continued global uncertainty. •Fiscal and structural reform efforts, especially for the electricity sector, are key to boostingmedium-term growth prospects and further bolstering resilience, including to naturaldisasters. Washington, DC – November 18, 2025:The Executive Board of the International MonetaryFund (IMF) completed the Article IV Consultation for the Dominican Republic1on November12, 2025. The authorities need more time to consider the publication of the Staff Reportprepared for this consultation.2 The Dominican Republic’s (DR) growth slowed in late 2024 and the first half of 2025 largelydue to increased uncertainty and tighter financial conditions. There are preliminary signs thateconomic activity is reviving, with credit, exports, and tourism growth all picking up in recentmonths, underpinned by supportive monetary and fiscal policies. Inflation remains close totarget and is expected to average 3.7 percent in 2025. External balances are in line withfundamentals and desirable policies. The current account deficit is expected to narrow furtherthis year to 2.5 percent of GDP, on the back of robust exports and remittances, and is fullyfinanced by foreign direct investment (FDI). Growth is expected to accelerate to 4.5 percent in 2026 then converge to its long-term trend of5 percent, while inflation is forecast to remain around the 4 percent ± 1p.p target. The currentaccount deficit is expected to remain around 2½ percent and continue to be fully financed byFDI. The government’s deficit and debt are projected to gradually decline, in part due to theexpected reduction of electricity sector losses and improved targeting of energy subsidies.This will also help to create space for planned increases in public investment. The balance of risks is tilted to the downside, but the DR is well-positioned to weather them.External risks from global financial conditions and heightened uncertainty remain, as does theDR’s vulnerability to natural disasters. But the DR has strong economic fundamentals andpolicy space to respond should these risks materialize. On the upside, the DR could benefitfrom trade diversion and FDI inflows stemming from changes in global trade policies.Domestically, delays in implementing the authorities’ reform and public investment plans couldpose a downside risk to growth, while robust implementation would create upside “risks” togrowth. Executive Board Assessment3 Executive Directors commended the Dominican Republic’s sustained efforts to strengthenpolicies and institutions and advance business-friendly reforms, driving the strongmacroeconomic performance over the past two decades. Directors welcomed that growth isexpected to accelerate and inflation remain well-anchored. They agreed that while downsiderisks persist, the country is well positioned to absorb shocks, given its strong fundamentalsand policy space. Notwithstanding the strong fundamentals, Director