After poor economic performance in the 1980s, macroeconomic stability in the early 1990s stimulated rapid economic growth. From 1992 to 1999 the Dominican Republic was among the fastest growing economies in the world, registering annual GDP growth rates in excess of 6 percent. However, the banking crisis of 2003, which cost Dominicans approximately 15 percent of GDP, caused the growth rate to sharply plummet to negative 0.4 percent. Subsequent declines in external demand, coupled with high international oil prices and the deterioration of Dominican macroeconomic stability, have contributed to the sluggish growth rates recorded for the last two (2) years

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