Dominican Economy Takes Deep Nosedive in World Ranking

The collapse of the Dominican Republic in the global ranking of competitiveness, carried out by the Global Economic Forum, is staggering, slipping from 41st in 2001 to 112th in 2005.

The 2001 ranking took into account the four years of President Fernandez´ first term, 1996-2000. The significantly lower 2005 rankings coincide with President Mejia´s term in office.

In all fairness to Mejia, not all of the country´s woes can be attributed directly to his leadership. The terrorist attacks in the United States in 2001 had a decidedly negative impact on tourism globally and the 2003 collapse of Baninter, Bancredito, and Mercantil banks were an economic hit from which the country is only just beginning to recover.