Dominica: 2018 Article IV Consultation-Press Release and Staff Report

September 5, 2018

Preview Citation

Format: Chicago

Dominica: 2018 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2018) accessed December 21, 2024

Summary

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.

Subject: Credit bureaus, Economic sectors, Environment, Expenditure, Financial markets, Natural disasters, Nonperforming loans, Public debt, Public sector

Keywords: Caribbean, Category 5 Hurricane Maria, Cost, Costs of reconstruction, CR, Credit bureaus, Director, Dominica, Global, ISCR, Natural disasters, Output collapse, Public sector, Recovery spending, Vulnerability to natural disasters, Zoning regulation

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/265
Stock No:

1DMAEA2018001
ISBN:

9781484374788
ISSN:

1934-7685

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