Dominica: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; for Dominica
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Summary:
This paper discusses Dominica’s Request for Disbursement Under the Rapid Credit Facility (RCF). Tropical Storm Erika had a devastating effect on Dominica’s economy. Total damage and loss is estimated at 96 percent of GDP. Real GDP is projected to decline by 3 percent in 2015, and reconstruction expenditures and the impact on agriculture and tourism activities are putting pressure on the fiscal and external accounts. Despite the high capital expenditures, the 2015 budget deficit will be contained to 2.4 percent of GDP reflecting strong grants, and the current account balance could deteriorate to a deficit of about 15 percent of GDP. The IMF staff supports the authorities’ request for a disbursement under the RCF.
Series:
Country Report No. 2015/316
Subject:
Capital spending Credit Economic sectors Expenditure Money Public debt Public sector
English
Publication Date:
November 18, 2015
ISBN/ISSN:
9781513562216/1934-7685
Stock No:
1DMAEA2015001
Pages:
54
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