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President Mejia only received $120 of the $600 million he asked from the IMF. The Dominican Republic lost 67% of the annual budget and about $700 million. [5] The Dominican Recession (2002) brought a halt to the steady rapid growth brought by the telecommunications and mining sectors. The DR was exporting good and unemployment was down.
The economy of the Dominican Republic is the seventh largest in Latin America, and is the largest in the Caribbean and Central American region. The Dominican Republic is an upper-middle income [13] developing country with important sectors including mining, tourism, manufacturing (medical devices, electrical equipment, pharmaceuticals, and chemicals), energy, real estate, infrastructure ...
The CDB collaborates with distinct institutions like the Green Climate Fund to promote sustainable development and climate resilience across the region. [ 17 ] The bank also facilitates soft loans and technical assistance for its smaller member states by working closely with partners like the Inter-American Development Bank and the World Bank .
The Caribbean Tourist Association was founded in 1951. [12] Tax incentives encouraged foreign development of hotels and infrastructure, cultivated by newly formed tourism ministries. [10] Regular non-stop international airplane flights in the 1960s made vacations to the Caribbean more affordable and increased the number of visitors. [6]
For a minimum investment of about $270,000 in real estate, individuals and their families can obtain Greek residency, which offers the freedom to live and work in Greece and travel throughout Europe.
More than 10 million tourists visited the Dominican Republic in 2023, [1] [2] making it the most popular tourist destination in the Caribbean and putting it in the top 5 overall in the Americas. [3] The industry accounts for 11.6% of the nation's GDP [ 4 ] and is a particularly important source of revenue in coastal areas of the country.