March 1, 2006
Barely three years after fraud and mismanagement nearly destroyed the country's financial system, the Dominican economy seems headed for prosperity.
The Dominican Republic's central bank has its work cut out for it.Observers say the Dominican Republic will enjoy GDP growth of at least 5% in 2006, following last year's impressive 9.3% showing. "The economy's doing very well," says Frederic Emam-Zade, director-general of the Fundación Global Democracia y Desarrollo – a think tank created by President Leonel Fernández, who returned to office in August 2004 following a four-year hiatus. Emam-Zade notes that 10 out of the 15 sectors are expanding, with trade, tourism, telecommunications and construction among some of the fastest-growing segments of the economy.
The United Nation's Economic Commission for Latin Ameri