IMF Staff Country Reports

Dominica: Staff Report for the 2005 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Requests for Waiver of Nonobservance of Performance Criterion, Financing Assurances Review, and Extension of Repurchase Expectations

October 26, 2005

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Dominica: Staff Report for the 2005 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Requests for Waiver of Nonobservance of Performance Criterion, Financing Assurances Review, and Extension of Repurchase Expectations, (USA: International Monetary Fund, 2005) accessed November 28, 2024

Summary

This 2005 Article IV Consultation highlights that Dominica is recovering from the aftermath of an economic and financial crisis in 2001–02 when output contracted by 10 percent. The reform strategy has been successful. Economic growth has recovered to more than 3 percent a year and is set to record the second straight year of above average growth in 2005. Inflation declined in 2004 and remains subdued in 2005 despite the higher energy prices. Reflecting strong fiscal consolidation and a collaborative debt restructuring agreement, public finances are now on a firmer footing.

Subject: Banking, Commercial banks, Credit, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Money, Public debt

Keywords: Adjustment program, Banking system, Caribbean, Commercial banks, CR, Credit, Debt restructuring process, Fiscal stance, Government, ISCR, PRGF, PRGF arrangement, Private sector, Public finance, U.S. dollar

Publication Details

  • Pages:

    89

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2005/384

  • Stock No:

    1DMAEA2005004

  • ISBN:

    9781451810912

  • ISSN:

    1934-7685

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