A Dominican Republic entrepreneur and economist committed to improving the lives of Dominicans via public service, Donald Guerrero has overseen or played a role in carrying out various economic initiatives in his role as minister of finance. An experienced economist with post-secondary teaching experience, Donald Guerrero was appointed the Dominican Republic’s minister of finance via Presidential Decree 201-16, replacing Simón Lizardo Mézquita. He was succeeded by José Manuel Vicente Dubocq in 2020.
During his four-year tenure as minister of finance, Donald Guerrero prioritized fiscal responsibility, social welfare, and transparent spending. Within his first year in the position, the Dominican Republic experienced a 12 percent reduction of poverty, according to the World Bank. Around the same time, he increased spending to build new schools and hospitals, while also increasing salaries for teachers and doctors.
As of 2013, the average school day for public schools was just 2.5 hours in the Dominican Republic. During Mr. Guerrero’s tenure as finance minister, the average school day grew to eight hours, and students received uniforms and books, supplied by the government, along with breakfast, lunch, and snacks. Teacher salaries increased by roughly 60 percent. Moreover, in 2017, nearly half of all public spending was directed to the provision of services, including plans to remodel 56 hospitals and create primary health centers to improve the efficiency of the public health system.
Under Mr. Guerrero’s leadership, the Dominican Republic signed on to the Organization for Economic Co-operation and Development’s (OECD) Inclusive Framework on Base Erosion and Profit Sharing (BEPS) to improve tax transparency and mitigate the scope of tax evasion. The country recorded 100 percent of estimated collections in 2018 to increase state income.
In addition, Donald Guerrero’s finance ministry passed an anti-money laundering law that included best practices from the World Economic Forum. Prior to the COVID-19 pandemic, the Dominican Republic’s public spending and debt was among the lowest in the region. Mr. Guerrero’s tenure as minister of finance was characterized by economic growth as well as an increase in foreign investment and international trade agreements that strengthened financial ties with other nations.
Mr. Guerrero has taught postgraduate finance courses at Pedro Henríquez Ureña National University (UNPHU), Santo Domingo Institute of Technology (INTEC), and the Pontificia Universidad Católica Madre y Maestra. He taught international and corporate finance at INTEC and was professor of business strategy at the Pontificia Universidad Católica Madre y Maestra. Donald Guerrero has also held executive roles at Chase Manhattan Bank, Listín Diario, Reid & Pellerano, and Banco Intercontinental.
Also successful in business, Donald Guerrero founded Axis Holding, LLC, more than 25 years ago and has grown the Puerto Rico-based car dealership group to include several companies, including Autocentro Toyota, Autocentro Nissan, and Smile Collision Center. The group’s companies sold more than 10,000 vehicles in 2019.
Complementing his diverse experience in business and economics, Donald Guerrero holds a master’s degree in finance from the University of Maryland and is a distinguished alumnus of INTEC, where he received a bachelor’s degree in economics and completed postgraduate studies in business administration.
