Dominica: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; for Dominica
IMF Staff Country Reports, November 18, 2015
Source details
- Canonical URL
- Dominica: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; for Dominica
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Bibliographic details
- Published: November 18, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513562216.002
Summary
- 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.
- The IMF staff supports the authorities’ request for a disbursement under the Rapid Credit Facility (RCF).
Economic impact and projections
- Total damage and loss: 96 percent of GDP.
- Real GDP projection: decline by 3 percent in 2015.
- Reconstruction expenditures and impacts on agriculture and tourism are exerting pressure on economic activity.
Fiscal and external accounts
- Despite high capital expenditures, the 2015 budget deficit will be contained to 2.4 percent of GDP reflecting strong grants.
- Current account balance could deteriorate to a deficit of about 15 percent of GDP.
Policy response and IMF assessment
- Reconstruction expenditures prioritized in response to Tropical Storm Erika.
- IMF staff recommendation: support for the authorities’ request for a disbursement under the Rapid Credit Facility (RCF).
Key statistics and identifiers
- Pages: 54
- Volume: 2015
- Issue: 316
- Series: Country Report No. 2015/316
- DOI: https://doi.org/10.5089/9781513562216.002
- Stock No: 1DMAEA2015001
- ISBN: 9781513562216
- ISSN: 1934-7685
- Publication date on page: November 18, 2015
International Monetary Fund. "Dominica: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; for Dominica", IMF Staff Country Reports 2015, 316 (2015), November 18, 2015.
Content in this bundle
- Executive Summary