The Dominican Republic is expected to offer a market-friendly restructuring of its international bonds in the next few weeks, bankers said yesterday, as the Caribbean economy recovers from the edge of default.

Prices on the republic's $1.1bn in outstanding sovereign bonds have rallied as investors have gained confidence in the country's ability to overhaul its finances and surface from a severe economic crisis. This had been triggered by the collapse of a large bank in 2003.