The Dominican Republic has formally assumed the Pro Tempore Presidency of the Council of Ministers of Finance for Central America, Panama and the Dominican Republic (COSEFIN), marking a significant advancement in regional fiscal governance. This leadership transition occurred during the 57th Ordinary Meeting of COSEFIN, where Panama’s Ministry of Economy and Finance transferred responsibilities to Dominican authorities who will maintain this strategic position until June.
Vice Minister of Fiscal Policy Camila Hernández articulated an ambitious agenda for the Dominican presidency, emphasizing enhanced public financial management frameworks and optimized allocation of public expenditures. The administration plans to prioritize revenue enhancement initiatives and develop coordinated approaches to address shared fiscal vulnerabilities, particularly those associated with climate-related disasters and economic instability.
Key initiatives under Dominican leadership include implementing the Regional Strategy for Disaster Risk Financial Management, revitalizing the Central American Committee on Internal Taxes, and establishing the Smart Finance Community of Practice in partnership with the World Bank. These programs will operate within the broader architecture of the Central American Integration System (SICA), reinforcing regional cooperation mechanisms. The presidency handover ceremony gathered finance ministers and high-level officials from across the region, including Panama’s Economy Minister Felipe Chapman, signaling strong collective commitment to fiscal integration and sustainable economic development.