Dominica is a small island developing state that is vulnerable to external shocks. Key economic drivers (agriculture and ecotourism) have limited downstream integration and are vulnerable to disaster shocks. During the past decade, consecutive natural disasters (NDs) followed by the pandemic and cost of living shocks have taken its toll on Dominica’s economy. Policy responses have eroded essential fiscal buffers, despite large Citizenship by Investment (CBI) revenues which have supported reconstruction, infrastructure development, and climate adaptation. The country remains exposed to shocks, while tight fiscal space constrains development initiatives. The ongoing economic expansion provides an opportunity to rebuild essential buffers and reorient policies towards increasing prospects for more sustained and resilient growth.
- Format
- Paper
- Frequency
- regular
- ISBN
- 9798400281334
- ISSN
- 1934-7685
- Pages
- 93
- Published in
- United States of America
- Series
- Country Report No. 2024/192
- StockNumber
- 1DMAEA2024001
Table of Contents
- context 8
- Recent developments 8
- OUTLOOK AND RISKS 10
- POLICY DISCUSSIONS 12
- A. Safeguarding Fiscal Sustainability and Rebuilding Buffers 12
- B. Strengthening Financial System Balance Sheets and Intermediation 17
- C. Structural Reforms to Boost Sustainable, Inclusive, and Resilient Growth 19
- D. Institutional Strengthening 22
- Staff Appraisal 23
- A. Financial Landscape in Dominica 46
- B. Financial Conditions and Growth-At-Risk in Dominica 47
- A. Current Energy Sector Landscape and Challenges 52
- B. Macroeconomic Implications 53
- Near and Medium-Term Impacts of Energy Transition 54
- Long-Term Impact of Energy Transition 55
- DMA - 2024 - AIV SR IA to SEC after feedback round 2 May 15.pdf -1
- Fund Relations 61
- PFM Missions 62
- Revenue Administration Missions 63
- Financial Sector Missions 66
- Economic and Financial Statistics 66
- Macroeconomics and Programming Analysis 67
- Relations With OTHER International FINANCIAL INSTITUTIONS 69
- DMA - 2024 - AIV SR DSA to SEC after feedback.pdf -1
- Public Debt Coverage 71
- Background on Debt 72
- Background on Macro Forecasts 73
- Country Classification and Determination of scenario stress tests 77
- External DSA 78
- Overall Risk of Public Debt Distress 79
- Risk Rating, Vulnerability and Recommendations 79
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