Governor Valdez Albizu and his technical team examined the main results of the monetary and financial measures adopted by the issuing entity to address the economic impact of the coronavirus.

To analyze the country's economic situation in the context of the COVID-19 pandemic and evaluate the implementation of additional measures aimed at continuing to boost the economy with new financing for businesses and households through financial intermediation entities, the Governor of the Central Bank of the Dominican Republic, Héctor Valdez Albizu, held a meeting with the institution's technical team.

These new measures will aim to preserve and create new jobs, ease the financial burden on households, and provide support to the health sector for the purchase of equipment and supplies, the acquisition of medications, the payment of medical treatments, and the improvement of hospitals.

Additionally, Governor Valdez Albizu and his technical team examined the main results of the monetary and financial measures adopted by the issuing entity to address the economic impact of the coronavirus.

In this regard, it was observed that of the RD$ 120 billion made available to financial intermediation entities to provide liquidity to economic agents, some RD$ 90 billion have been channeled to date, highlighting financing to sectors such as commerce and MSMEs (RD$ 9,410 million), manufacturing (RD$ 8,392 million), export (RD$ 6,484 million), agriculture (RD$ 3,532 million), construction (RD$ 2,938 million), households (RD$ 2,559 million) and tourism (RD$ 1,723 million).

Of the total amount initially approved, approximately RD$ 30 billion remains pending, which is in the process of being distributed to businesses and households and will be disbursed in the coming days, according to information from financial intermediaries.

One of the topics discussed throughout the meeting was the significant contribution of these measures to the dynamism that private sector credit has shown in recent months, increasing to a rate above 14.0 %.

During the meeting, Governor Valdez Albizu emphasized the importance of maintaining favorable monetary conditions that contribute to sustained credit expansion, achieving a healthy and sustainable recovery without jeopardizing macroeconomic stability.

In this regard, the Central Bank governor reiterated that monetary policy has sufficient room to adopt new measures, continue supporting productive activities, and provide support to the health sector, which is on the front lines of the fight against the pandemic.

In addition to Governor Valdez Albizu, the meeting was attended by Vice Governor Clarissa de la Rocha de Torres, Manager Ervin Novas Bello, Deputy General Manager Frank Montaño, Economic Advisor to the Governor's Office and the Central Bank Julio Andújar Scheker, Deputy Manager of Regulation and Financial Stability Ramón Rosario, and departmental directors Joel González, of Monetary Programming and Economic Studies; Brenda Villanueva, of International Affairs; Máximo Rodríguez, of Regulation and Financial Stability; and Yamileh García, of Treasury.