The Economical Stature of the Dominican Republic
Jazmin Lopez
3/27/14
Dominican Republic Jobs –Selling fruits (coconut, mangos, etc.), men doing construction, women sweeping streets, security guards. In Dominican Republic children can’t work until the age of 14. Economy- After a decade of little to no growth in the 1980s, the Dominican Government initiated a program of economic reform in the early 1990s, adopting sound macroeconomic policies and opening the country to foreign investment. The economy grew at an average rate of 7.6% annually from 1996 to 2000. Growth faltered in the early 2000s as several of the Dominican Republic’s main trading partners suffered recessions, reducing demand for manufactured goods. The economy contracted in 2003 (-0.3%) in the wake of a domestic banking crisis. The Mejia administration negotiated an IMF standby agreement in August 2003, though failed to comply with fiscal targets. The Fernandez administration signed the agreement in January 2005, after securing required tax legislation. Fernandez successfully renegotiated official bilateral debt with Paris Club member governments, commercial bank debt with London Club members, and sovereign debt with a consortium of lenders. Growth recovered, averaging 7.8% from 2004 to 2007. The standby agreement concluded in January 2008 with fiscal and financial targets largely met but reform in the electricity sector and financial markets unrealized. Dominican Republic trades with the United States to get certain products.
Climate – Dominican Republic is known as tropical weather all year round. The winter for the Dominican Republic is 68 degrees, which is the lowest it goes in the evening. That goes on for November to April.
Laws and civil rights – Dominican Republic received independence from Spain in 1821 and from Haiti in 1844. Dominican Republic has two parties that people get to vote for when election comes along. Which are Dominican liberation party and the Dominican revolutionary party. The Dominican Republic is
3/27/14
Dominican Republic Jobs –Selling fruits (coconut, mangos, etc.), men doing construction, women sweeping streets, security guards. In Dominican Republic children can’t work until the age of 14. Economy- After a decade of little to no growth in the 1980s, the Dominican Government initiated a program of economic reform in the early 1990s, adopting sound macroeconomic policies and opening the country to foreign investment. The economy grew at an average rate of 7.6% annually from 1996 to 2000. Growth faltered in the early 2000s as several of the Dominican Republic’s main trading partners suffered recessions, reducing demand for manufactured goods. The economy contracted in 2003 (-0.3%) in the wake of a domestic banking crisis. The Mejia administration negotiated an IMF standby agreement in August 2003, though failed to comply with fiscal targets. The Fernandez administration signed the agreement in January 2005, after securing required tax legislation. Fernandez successfully renegotiated official bilateral debt with Paris Club member governments, commercial bank debt with London Club members, and sovereign debt with a consortium of lenders. Growth recovered, averaging 7.8% from 2004 to 2007. The standby agreement concluded in January 2008 with fiscal and financial targets largely met but reform in the electricity sector and financial markets unrealized. Dominican Republic trades with the United States to get certain products.
Climate – Dominican Republic is known as tropical weather all year round. The winter for the Dominican Republic is 68 degrees, which is the lowest it goes in the evening. That goes on for November to April.
Laws and civil rights – Dominican Republic received independence from Spain in 1821 and from Haiti in 1844. Dominican Republic has two parties that people get to vote for when election comes along. Which are Dominican liberation party and the Dominican revolutionary party. The Dominican Republic is