The Banco Central de la República Dominicana (BCRD) recently reported a significant increase in remittances to the Dominican Republic, reaching approximately $4.2 billion in the first five months of 2023. This represents a 2.9% growth compared to the same period in 2022. The positive trend continued in May 2023, with remittances totaling $881.1 million, marking…
On June 30, 2023, the Inter-American Development Bank (IDB) introduced a groundbreaking initiative called Amazonia Forever. This holistic umbrella program seeks to accelerate the sustainable, inclusive, and resilient development of the Amazon region through enhanced financing, knowledge sharing, and regional coordination. The program garnered support from the IDB’s governors representing Bolivia, Brazil, Colombia, Ecuador, Guyana,…
The period from March to May 2023 witnessed a rise in Chile’s national unemployment rate, reaching 8.5%. This increase marked the seventh consecutive annual rise after a prolonged period of steady decline. Analyzing these economic indicators from a broader perspective can shed light on the underlying factors and potential policy solutions to stimulate economic growth…
On Monday, July 3, 2023, the Banco Central de Chile (Chile’s Central Bank) released the May 2023 monthly index of economic activity, known as Imacec. According to preliminary information, May witnessed a 2.0% drop compared to the same month in the previous year. The seasonally adjusted series fell by 0.5% compared to the previous month…
The Ecuadorian economy has experienced a year-on-year growth of 0.7% in the first quarter of 2023, compared to the same period last year. This growth has been driven by positive variations in household consumption (1.6%), government expenditure (0.5%), and exports (0.4%). However, fixed capital formation contracted by 5.2%, and imports decreased by 1.3%. In terms…
Recently, the Banco Central de la República Argentina (BCRA) issued a regulation that prohibits payment service providers (PSPs) from conducting or facilitating transactions involving unregulated digital assets, including cryptocurrencies. According to the new rule, PSPs are not allowed to initiate or facilitate such operations through their own platforms or applications. The measure aims to mitigate…
The recent monetary policy statement released by the Central Reserve Bank of Peru (BCRP) provides insights into the decision to maintain the reference rate at 7.75%. This article will analyze the text from an economic perspective that emphasizes individual freedom, free markets, and limited government intervention. It will discuss inflation trends, global factors influencing inflation,…
The recent decision of the Board of Directors of the Banco de la República (Colombia’s Central Bank) to maintain the monetary policy rate unchanged at 13.25% requires careful analysis from an economic perspective that emphasizes individual freedom, free markets, and limited government intervention. This article will examine the elements considered by the Board in reaching…