Dominica: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica

February 14, 2022

Preview Citation

Format: Chicago

Dominica: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica, (USA: International Monetary Fund, 2022) accessed December 22, 2024

Summary

Dominica has been hit hard by the Covid-19 pandemic, with an estimated decline in GDP of 11 percent in 2020 underpinned by a sharp reduction in tourism receipts that affected connected sectors and by lockdown measures to limit virus contagion. The output decline was contained by health spending, social transfers, and public investment resilient to natural disasters which increased significantly, leading to an increase in public debt to 106 percent of GDP despite record-high Citizenship-by-Investment (CBI) revenue. The financial sector remained stable and liquid, but vulnerability continue to be significant in the under-capitalized non-bank sector.

Subject: COVID-19, Environment, Expenditure, External debt, Health, International organization, Monetary policy, Natural disasters, Public debt, Public investment spending

Keywords: Authorities' effort, Authorities of Dominica, Caribbean, CBI revenue, COVID-19, Global, Natural disasters, Pandemic well, Public investment spending, Response to the pandemic

Publication Details

Pages:

79
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/040
Stock No:

1DMAEA2022001
ISBN:

9798400202506
ISSN:

1934-7685

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