CARIBBEAN INFRASTRUCTURE: Resource competition

CARIBBEAN INFRASTRUCTURE: Resource competition

Caribbean Jamaica Dominican Republic Trinidad & Tobago M&A Project & Infrastructure Finance

Development of the Pueblo Viejo mine, which started production in 2012, has been vital for the Dominican Republic’s external financial position since. It is expected to bring in more than $10 billion of export earnings over its 25-year life. Already, it is having an effect: increases in gold shipments accounted for most of the island’s 5.8% export growth in 2013 and the 6.2% growth in the first three quarters of 2014. That jump improved the Dominican Republic’s current account position, which in turn was central to Fitch’s upgrade of the sovereign from B to B+ in November. “The diversified export structure makes growth prospects more robust,” says César Arias, associate director at Fitch. Th

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