Central Bank says economy will grow without inflation

Dominican Central Bank (Banco Central) Governor Hector Valdez Albizu said that the Dominican economy is still growing below its potential and its growth in the remainder of the year will be without generating inflationary pressures.

Valdez Albizu�s comments came after a meeting he held with the senior leadership of the International Monetary Fund (IMF) and World Bank (WB), who noted positively the recent performance of the Dominican economy. They also praised the management of monetary policy and exchange rate stability, as well as the willingness of the authorities to act in case of significant inflationary pressures.

The Central Bank governor and members of his staff met with the senior leadership of the IMF and the WB as part of the Spring meetings to review issues related to economic performance in the context of the stand-by agreement with the country.
The meeting was attended by the IMF Deputy Managing Director, Murilo Portugal, and Nicol�s Eyzaguirre and Rodrigo Valdez, director and deputy director respectively, of the Western Hemisphere Division of the WB, Alejandro Santos, head of mission in the Dominican Republic, along with other officials.

At the meeting, the Central Bank governor spoke about the behavior of main economic indicators during the first quarter and its outlook for the year end 2010.
Accompanying the governor were; Clarissa de la Rocha de Torres, deputy governor, Julio Estrella, Dominican representative to the IMF, Joel Tejeda, assistant manager of Monetary Policy and Financial Exchange, and Frank Fuentes, adviser to the governor.

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