Cover IMF Staff Country Reports
Buy Book in Print
Dominica: 2018 Article IV Consultation-Press Release and Staff Report
Author:
International Monetary Fund. Western Hemisphere Dept.
Search for other papers by International Monetary Fund. Western Hemisphere Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2018: Issue 265
Language:
English
Publication Date:
05 Sep 2018
DOI:
https://doi.org/10.5089/9781484374788.002
ISBN:
9781484374788
ISSN:
1934-7685
Pages:
69
Keywords:
ISCR; CR; Dominica; cost; director; output collapse; recovery spending; costs of reconstruction; category 5 Hurricane Maria; zoning regulation; vulnerability to natural disasters; Natural disasters; Credit bureaus; Public sector; Caribbean; Global
Download PDF (2 MB) Download Epub
This 2018 Article IV Consultation highlights that in 2018, Dominica’s output is projected to decline by 14 percent and to take about 5 years to recover to pre-hurricane levels. The fall in output and government revenue, coupled with increased expenditure for rehabilitation and reconstruction, will lead to a substantial worsening of fiscal and external deficits. However, signs of recovery, particularly in construction and the public sector, have already started to emerge. The risks to the outlook include the budget becoming financially constrained and unable to sustain adequate investment given high debt, limited buffers, weak revenue, and urgent needs for reconstruction spending. Other risks include financial instability stemming from undercapitalization of systemic financial institutions, recurrent natural disasters, and external competitiveness challenges.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund