Dominican Republic

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The Dominican Republic rated a 7.0 in 1997, placing it 53rd out of 123 countries. This represents a large increase from the 4.1 rating (93rd ranking) of 1990.

This country has made important improvements in monetary, exchange, and credit policies. The top marginal tax rate has been reduced and mandatory military service has been eliminated.

There was a significant advance over previous years with respect to the enforcement of contracts (Area V-B). In improving its legal structure, the system has more credibility, which would grant confidence to investors.

However, the Dominican Republic could improve other aspects to drive the country towards a higher degree of economic freedom. In particular, lower tariffs and reduction of other trade restrictions are needed. Concerning financial and capital markets, it is still necessary to break barriers that impede the mobility of capital. Dominican Republic needs to eliminate remaining restrictions on currency convertibility.

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Last Modified: Monday, January 10, 2000