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Dominica: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2024. "Dominica: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Dominica," IMF Staff Country Reports 2024/192, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2024/192
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