{
  "title": "Dominica: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica",
  "publication": "IMF Staff Country Reports, February 14, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/02/14/dominica-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-513125",
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  "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.",
  "sections": [
    {
      "heading": "Macroeconomic impact of COVID-19",
      "content": "- Estimated decline in GDP of 11 percent in 2020.\n- Decline underpinned by a sharp reduction in tourism receipts that affected connected sectors.\n- Output decline also driven by lockdown measures to limit virus contagion.\n- The output decline was contained by:\n  - health spending,\n  - social transfers,\n  - public investment resilient to natural disasters which increased significantly."
    },
    {
      "heading": "Public finances and debt",
      "content": "- Public debt increased to 106 percent of GDP.\n- Increase in public debt occurred despite record-high Citizenship-by-Investment (CBI) revenue."
    },
    {
      "heading": "Financial sector and vulnerabilities",
      "content": "- The financial sector remained stable and liquid.\n- Significant vulnerabilities persist in the under-capitalized non-bank sector.\n\nSource: Dominica: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica, February 14, 2022.\n\n---\n\n Content in this bundle\n\n- 1dmaea2022001\n  - 1dmaea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1dmaea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 14, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400202506.002",
    "Estimated decline in GDP of 11 percent in 2020.",
    "Decline underpinned by a sharp reduction in tourism receipts that affected connected sectors.",
    "Output decline also driven by lockdown measures to limit virus contagion.",
    "The output decline was contained by:",
    "Increase in public debt occurred despite record-high Citizenship-by-Investment (CBI) revenue.",
    "The financial sector remained stable and liquid.",
    "Significant vulnerabilities persist in the under-capitalized non-bank sector.",
    "**1dmaea2022001**"
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