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Western Hemisphere > Dominica

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Cover Technical Assistance Reports
Dominica: Technical Assistance Report-Improving Estimates of Gross Domestic Product (August 29–September 8, 2023)
International Monetary Fund. Statistics Dept.
A joint CARTAC, IMF capacity development engagement with the Central Statistics Office (CSO) in the Ministry of Finance in Dominica to improve estimates of Gross Domestic Product (GDP) was undertaken. The capacity development focused on three main aspects: supporting improvements of the GDP series in line with the 2008 SNA standards, including training for re-referencing the volume estimates of GDP; identifying data holdings which could be used to improve the quality of the estimates; and developing a work program for improving the timeliness of macroeconomic statistics in Dominica. Administrative data including value added tax data was used to compliment survey based estimates to enhance the current price estimates of GDP. To identify potential other data sources, meetings with various government stakeholders took place to discuss accessibility of data to continue to improve the quality of the macroeconomic estimates in the future. In addition to re-referencing the volume estimates of GDP to 2018 prices (from the existing 2006 base year), refinements to the GDP compilation system were developed to increase the capacity development of the staff to maintain and update the compilation of macroeconomic statistics in the future.
Keywords:
GDP; Administrative Data; Value Added Tax; Re-Referencing; SNA; Dominica.; IMF's statistics department; Dominica export import agency; IMF executive directors; business processing documentation; CSO in the Ministry of Finance; Value-added tax; Civil society organizations; Agricultural sector; Agricultural exports; Caribbean
Cover IMF Working Papers
Caribbean Bananas: The Macroeconomic Impact of Trade Preference Erosion
Mr. Paul Cashin
,
Mr. Montfort Mlachila
, and
Cleary Haines
This paper examines the macroeconomic effects of the erosion of trade preferences, with a focus on the export of Caribbean bananas to Europe. Estimates are made of the magnitude of implicit assistance provided over a period of three decades to eastern Caribbean countries through banana trade preferences. The value of such assistance rose until the early 1990s, and has declined precipitously since then. Using vector autoregressive analysis, the paper finds that changes in the level of implicit assistance have had a considerable macroeconomic impact, especially on Caribbean real GDP growth.
Keywords:
WP; trade preference; EU banana regime; real GDP; country authorities; EU export unit value
Cover IMF Staff Country Reports
Dominica: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; current account; debt service; Eastern Caribbean dollar; fund staff estimate; net credit; factor cost; ECCB note; retail price; ECCB's net; Capital spending; Exports; Public sector; Current account balance; Caribbean
Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the income dispersion and comovement in the Eastern Caribbean Currency Union region. It finds that incomes are diverging, with the Leeward Islands converging to a higher income level than the Windward Islands. The paper examines the macroeconomic impact of trade preference erosion on the Windward Islands and demonstrates the substantial impact from preference erosion on growth, trade balances, and fiscal positions. The paper also analyzes the size of the informal economy in the Caribbean.
Keywords:
ISCR; CR; income; cost of capital; per capita income; ECCU country; informal economy estimate; social security scheme; income catch up; EU banana regime; financing cost of capital; FDI deflator; size of the informal economy; Informal economy; Personal income; Agricultural commodities; Securities; Exports; Caribbean; Global
Cover IMF Staff Country Reports
Dominica: Statistical Appendix
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; capital expenditure; current account; foreign currency; Eastern Caribbean dollar; fund staff estimate; net credit; factor cost; ECCB note; ECCB loan; ECCB's net; Capital spending; Exports; Current spending; Current account balance; Caribbean
Cover IMF Staff Country Reports
St. Lucia: Staff Report for the 2000 Article IV Consultation
International Monetary Fund
This 2000 Article IV Consultation highlights that after a period of slow growth in the mid-1990s, mainly owing to a decline in banana output, economic growth of St. Lucia has improved since 1998. In 1998–99, real GDP rose by an average of 3 percent a year. Executive Directors have stressed that further diversification and enhancements to international competitiveness are needed to permanently raise long-term growth and to reduce the external vulnerability of the economy, particularly in light of the market uncertainties facing the crucial banana industry.
Keywords:
ISCR; CR; banana industry; economy; GDP; tourism in St. Lucia; deficit; property taxation; banana production; tong term growth; Agricultural commodities; Public sector; Service exports; Consumption taxes; Public enterprises; Caribbean
Cover IMF Staff Country Reports
Dominica: Recent Economic Developments
International Monetary Fund
The economy is predominantly agricultural, although some degree of diversification has taken place in recent years toward tourism, communications, and financial services. The performance of the main agricultural activity, banana production and exports, has steadily deteriorated since the early 1990s and has adversely affected developments in other sectors. In the external sector, the current account of the balance of payments has shown a marked deterioration in recent years. The saving-investment balance showed a marked deterioration during 1999–2000.
Keywords:
ISCR; CR; Dominica; deficit; firm; inflation rate; dollar; export earnings; terms of trade; export production; broad money; export market; Agricultural commodities; Exports; Commercial banks; Loans; Caribbean
Cover IMF Staff Country Reports
Dominica: Staff Report for the 2001 Article IV Consultation
International Monetary Fund
Output and employment growth have been sluggish for the past several years, reflecting a difficult restructuring process associated with the retrenchment of the banana industry and the low productivity of public investment. The public finances have deteriorated in recent years as capital expenditure has increased sharply, while saving has been declining and foreign grants have fallen from their levels of the mid-1990s. Executive Directors emphasized the need for strong fiscal consolidation, and noted that generating higher public saving is the key to improve Dominica’s growth prospects.
Keywords:
ISCR; CR; government; policy; deficit; initial offer; Policy challenge; policy coherence; debt service; authorities preference; lofty policy objective; Public sector; Service exports; Current account balance; Caribbean
Cover IMF Staff Country Reports
St. Vincent and the Grenadines: Statistical Annex
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; private sector; foreign currency; balance of payments; net credit; unit price; net ECCB borrowing; balance due; unclassified asset; exports of goods; net acquisition; credit to NIS; Public sector; Commercial banks; Current account balance; Exports; Credit; Caribbean
Cover IMF Staff Country Reports
St. Vincent and the Grenadines: Statistical Annex
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; net credit; balance; public enterprise; deposit; unit price; net ECCB borrowing; balance due; net position; unclassified asset; credit to NIS; Commercial banks; Public sector; Credit; Exports; Loans; Caribbean