Nonfinancial public sector debt represents the 44.7% of GDP

As of February 29, 2024, the nonfinancial public sector (NFPS) external and domestic debt totaled US$55,201.1 million. This amount represents 44.7% of the estimated GDP.

The 70.7% of the NFPS total debt corresponds to external debt, which presented a balance of US$39,038.5 million, while the remaining 29.3% corresponds to domestic debt, which totaled RD$946,052.1 million, equivalent to US$16,162.6 million, at the exchange rate of RD$/US$=58.5334. These amounts represent 31.6% and 13.1% of the estimated GDP, respectively. Of the total domestic debt, US$2,261.3 million (1.8% of GDP) corresponds to intergovernmental bonds debt issued by the Central Government for the recapitalization of the Central Bank of the Dominican Republic. The intergovernmental debt is that contracted by one government institution with another.

For more details, see the

Public Debt Statistics as of February 29, 2024.

1/ Nominal GDP base 2007, consensus between BCRD, MH and MEPyD according to the latest framework revised in Mar-2024, RD$7,447,461.00 million, (US$123,573.0 million).

Nonfinancial public sector debt represents the 44.9% of GDP

As of February 29, 2024, the nonfinancial public sector (NFPS) external and domestic debt totaled US$55,201.1 million. This amount represents 44.9% of the estimated GDP.

The 70.7% of the NFPS total debt corresponds to external debt, which presented a balance of US$39,038.5 million, while the remaining 29.3% corresponds to domestic debt, which totaled RD$946,052.1 million, equivalent to US$16,162.6 million, at the exchange rate of RD$/US$=58.5334. These amounts represent 31.7% and 13.1% of the estimated GDP, respectively. Of the total domestic debt, US$2,261.3 million (1.8% of GDP) corresponds to intergovernmental bonds debt issued by the Central Government for the recapitalization of the Central Bank of the Dominican Republic. The intergovernmental debt is that contracted by one government institution with another.

For more details, see the

Public Debt Statistics as of February 29, 2024.

1/ Nominal GDP base 2007, consensus between BCRD, MH and MEPyD according to the latest framework revised in Aug-2023, RD$7,411,233.80 million, (US$123,005.7 million).

Standard & Poor’s reaffirms Dominican Republic’s credit rating and highlights its public debt management

Santo Domingo.- Standard & Poor’s (S&P Global) credit rating agency, reaffirmed this Thursday, the Dominican Republic’s credit rating at BB maintaining its stable outlook. The agency highlighted, among other factors, the strengthening of government institutions, which has allowed the country to maintain high economic growth rates and improve its fiscal planning and debt management.

The agency, having upgraded the Dominican Government’s credit rating from “BB-” to “BB” in December 2022 - a significant milestone for the country in attaining its highest credit rating to date, emphasizes the continued role of macroeconomic stability as the key pillar driving these accomplishments.

S&P’s report values the reduction in inflation rates, as a result of the Central Bank’s tight monetary policy throughout 2023 and expects that the country's economic growth will quickly return to its long-term levels. In addition, the report points to the great performance seen in the tourism sector, which contributes to the expansion of the gross domestic product (GDP) and the reduction of the current account deficit.

The agency notes that one aspect that could lead to an improvement in the credit rating is the Government’s capacity to approve and implement reforms that allow it to improve fiscal and debt planning measures, leading to lower fiscal deficits.

With regards to this Minister of Finance, Jochi Vicente, expressed that “Despite having faced very challenging external and internal events, we have managed to both enhance and implement reforms within the government, which have resulted in advances in the country's credit evaluation, translating into more and better opportunities.”

The vice Minister of Public Credit, María José Martínez, highlighted that the improvements obtained in the credit rating during the current administration, not only enable the Dominican government to access capital markets at more favorable terms but also strengthen international investor confidence, making the country increasingly more attractive for foreign investment.