CONSUMPTION AND SPENDING

Great disparities exist between rich and poor. Black Dominicans remain at the bottom of the economic and social ladder, accounting for the major proportion of small farmers and unemployed. Haitian immigrants are poorly paid, badly treated, and liable to be deported at short notice. Mixed races have shown most upward mobility in recent years, but, nevertheless, the old Spanish families still form the wealthiest section of society and retain their grip on valuable estates. In 2003 the collapse of three major banks, through widespread fraud, led the government to agree to a $5 billion bailout which crippled the economy and saw living standards plummet.

From "The Financial Times World Desk Reference" © Dorling Kindersley 2004