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Dominican Republic

The centre-left government of President Leonel Fernández has begun to stabilise the economy, renegotiating relationships with foreign creditors and bringing order to fiscal accounts after the disastrous administration of Hipólito Mejía. The economy has revived and Mr Fernández, enjoys high popularity ratings. However, Chinese competition in manufacturing has put the textiles industry under fierce pressure and agriculture remains in the doldrums. The main challenge is to create more jobs and ease poverty levels that are high, even by Latin American standards. - -

Content

Order and stability bring hopes of prosperity

Few countries can have experienced such sharp changes in fortunes in recent years as the Dominican Republic.

Leonel Fernandez: From left-wing past to the voice of reason

The president talks about his successes and his ideas for the future.

Energy: Why power to the people remains but a dream

Generating capacity is adequate but distribution is a problem.

Tourism: Sights set firmly on big-spending US visitors

Analysis of the industry’s direction.

Banking: Tougher regulation brings more confidence

Changes that have brought stability.

Offshore centre: Ambitious idea to take on the world

Plans to launch an offshore financial centre

Marketing: Selling sexy cigars and gourmet chocolate

Sport: Where dreams create hope

DR-Cafta: Negotiation opens opportunities

Remittances: Diaspora helps pay the bills

Haitians: Cane cutters seek sweet life

Free zones: Employment shrinks in the textile sector

FT World Desk Reference

Dominican Republic key facts

  • Official name: Dominican Republic
  • Capital: Santo Domingo
  • Population: 8.9 million
  • Currency: Dominican Republic peso
  • Official language: Spanish

Introduction

The most popular tourist destination in the Caribbean, the Dominican Republic lies 970 km (600 miles) southeast of Florida. Once ruled by Spain, it occupies the eastern two-thirds of the island of Hispaniola and boasts both the region's highest point (Pico Duarte, 3088 m – 10,131 ft) and its lowest (Lake Enriquillo, 44 m – 144 ft – below sea level). Spanish-speaking, it seeks closer ties with the anglophone West Indies.