Dominica: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Financing Assurances Review
IMF Staff Country Reports, May 18, 2004
Source details
- Canonical URL
- Dominica: First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Financing Assurances Review
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Bibliographic details
- Published: May 18, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810868.002
Executive summary and purpose
- Examines the First Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF) for Dominica.
- Authorities were encouraged by the stronger-than-envisaged performance, but considered it premature to change the macroeconomic framework.
- Recent encouraging developments on the growth front enhanced the credibility of the macroeconomic framework and increased the chances of success.
- Authorities embraced the ambitious structural reform agenda as a necessary course of action to address the complex problems faced by Dominica.
Macroeconomic framework and program stance
- The macroeconomic framework remained unchanged because authorities considered it premature to change it despite stronger-than-envisaged performance.
- Stronger growth developments increased the credibility of the macroeconomic framework and raised the probability of program success.
Growth developments
- Recent developments on the growth front described as "encouraging" and as having strengthened program credibility.
Structural reform agenda
- Authorities endorsed an ambitious structural reform agenda as necessary to address Dominica's complex problems.
Thematic coverage and keywords
- Subject areas: Asset and liability management; Commercial banks; Credit; Debt restructuring; Financial institutions; Money; Poverty; Poverty reduction strategy; Public debt.
- Keywords (as listed): authorities' debt restructuring effort, Caribbean, Commercial banks, commitment to the PRGF program, CR, Credit, debt, Debt restructuring, debt restructuring process, Dominica's debt burden, Dominican authorities, government, ISCR, monetary management, Poverty reduction strategy, PRGF, PRGF arrangement, PRGF loan.