Dominica : Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; for Dominica

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

November 18, 2015

Electronic Access:

Free Full text (PDF file size is 1179 KB).Use the free Adobe Acrobat Reader to view this PDF file

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. 15/316

Subject:

English

Publication Date:

November 18, 2015

ISBN/ISSN:

9781513562216/1934-7685

Stock No:

1DMAEA2015001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

54

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