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Dominican Republic

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Country summary

Capital

Santo Domingo

Borders

Haiti 360 km

Government type

democratic republic

Population

9,650,054 (July 2010 est.)[1]

Population growth

1.489% (2010 est.)[1]

Life expectancy

73.7 years[1]

Unemployment

15% (2009 est.)[1]

Index of Economic Freedom

86[2]

Corruption Perceptions Index

99[3]

Doing Business ranking

86[4]


Explored and claimed by Christopher COLUMBUS on his first voyage in 1492, the island of Hispaniola became a springboard for Spanish conquest of the Caribbean and the American mainland. In 1697, Spain recognized French dominion over the western third of the island, which in 1804 became Haiti. The remainder of the island, by then known as Santo Domingo, sought to gain its own independence in 1821 but was conquered and ruled by the Haitians for 22 years; it finally attained independence as the Dominican Republic in 1844. In 1861, the Dominicans voluntarily returned to the Spanish Empire, but two years later they launched a war that restored independence in 1865. A legacy of unsettled, mostly non-representative rule followed, capped by the dictatorship of Rafael Leonidas TRUJILLO from 1930-61. Juan BOSCH was elected president in 1962 but was deposed in a military coup in 1963. In 1965, the United States led an intervention in the midst of a civil war sparked by an uprising to restore BOSCH. In 1966, Joaquin BALAGUER defeated BOSCH in an election to become president. BALAGUER maintained a tight grip on power for most of the next 30 years when international reaction to flawed elections forced him to curtail his term in 1996. Since then, regular competitive elections have been held in which opposition candidates have won the presidency. Former President (1996-2000) Leonel FERNANDEZ Reyna won election to a new term in 2004 following a constitutional amendment allowing presidents to serve more than one term, and was since reelected to a second consecutive term.[1]

Economical characteristicsEdit

  • Currency: Peso (ISO code: DOP)
  • Central bank discount rate: [1]
  • Commercial banks lending rate: 19.95% (31 December 2008)[1]
  • Stock of money (M1): $3.619 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $5.902 billion (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 21 709 23 997 24 895 26 570 21 268 22 039 34 004 35 953 41 317 45 541
Govt. debt (% of GDP)[6] 16.740
Govt. revenue (% of GDP)[7] 14.247 15.821 16.199 17.633
Govt. expenses (% of GDP)[8] 13.727 14.441 14.846 14.789
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Dominican Republic", from The World Facebook. Referenced 2010-09-30.
  2. Heritage Foundation. "Dominican Republic", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. Transparency International. "Dominican Republic", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. Doing Business. "Dominican Republic", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. World Bank. "Dominican Republic: GDP", from World Bank Data. Referenced 2010-09-30.
  6. World Bank. "Dominican Republic: government debt", from World Bank Data. Referenced 2010-09-30.
  7. World Bank. "Dominican Republic: government revenue", from World Bank Data. Referenced 2010-09-30.
  8. World Bank. "Dominican Republic: government expenses", from World Bank Data. Referenced 2010-09-30.

External linksEdit

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