Dominican Republic and the International Monetary Fund and the World Bank  The Dominican Republic is a lower middle-income country stretching over 18,172 miles on the Island of Hispaniola. It has the tenth largest economy in Latin America, and the largest economy in the Caribbean region. Agriculture, tourism, Free Trade Zone (FTZ) Manufacturing, and mining (gold, ferronickel, silver, bauxite, limestone, and zinc) drive the economy. Due to the FTZ Model, the DR has an open market economy that is free from tariffs, subsidies, licensing requirements, unions, and other regulations which has made trade with other countries easier, quicker, and cheaper. This is why there was a recent boost in exports resulting in an improved GDP growth. The purpose of the World Bank is to provide long term financial and project planning assistance to any country that is struggling with extreme poverty. The World Bank consists of five integral organizations. They are the IBRD (The International Bank for Reconstruction and Development), IDA (International Development Association), IFC (International Finance Corporation), MIGA (Multilateral Investment Guarantee Agency), and the ICSID (International Center for Settlement of Investment Disputes). The World Bank has sent the Dominican Republic $230 million dollars (2016), $1 million (2017), $150 million (2018), and $180 million in 2019. The loans vary each year depending on existing loans, urgency, and other factors that influence the Project Cycle. World Bank projects in the Dominican Republic vary from expanding the energy sector, improving education, to strengthening infrastructure. The Dominican Republic joined the IMF December 28, 1945. The goal of the IMF is to ensure financial stability and are the final resort for countries who are struggling. Government officials have abused the IMF by using them as a way to save the economy to cover up scandals of corruption. For instance, in 2002 the Dominican Republic went through a Recession after the Bank, Baninter went bankrupt. President Mejia bailed out the bank despite the negligence of the Bank management resulting in the loss of $2.2 billion. President Mejia only received $120 of the $600 million he asked from the IMF. The Dominican Republic lost 67% of the annual budget and about $700 million. The Dominican Recession (2002) brought a halt to the steady rapid growth brought by the telecommunications and mining sectors. The DR was exporting good and unemployment was down. However, due to the corruption and decision by President Mejia to bail out the bank, Baninter, that went Bankrupt.