IMF Staff Country Reports

Dominica: First Review Under the Stand-By Arrangement and Requests for Extension of the Arrangement and for Waiver of Performance Criteria

September 11, 2003

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International Monetary Fund. "Dominica: First Review Under the Stand-By Arrangement and Requests for Extension of the Arrangement and for Waiver of Performance Criteria", IMF Staff Country Reports 2003, 293 (2003), accessed April 21, 2025, https://doi.org/10.5089/9781451810790.002

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Summary

A 12-month Stand-By Arrangement was approved to help Dominica deal with external shocks, rising public debt, and a prolonged economic downturn. Discussions focused on the appropriate mix between adjustment and financing. The authorities will also continue to strengthen the public sector investment program (PSIP) and the social safety net. Dominica's debt dynamics present an important challenge that will require continued fiscal efforts and exceptional financial support. In light of the proposed strengthened program and decisive ownership, the IMF staff recommends completion of the first review and extension of the arrangement.

Subject: Arrears, Banking, Debt service, External debt, Fiscal policy, Fiscal stance, Public debt

Keywords: Approval of the budget, Arrears, Caribbean, Cash management system, CR, Debt service, Fiscal stance, Government, ISCR, Staff appraisal, Staffs assessment, Stand-by credit

Publication Details

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