I.M.F Staff Mission Visits Dominica

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Published on Monday, 10 September 2012 12:49

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(Caribbean News Now): WASHINGTON, USA -- An International Monetary Fund (IMF) mission led by Aliona Cebotari visited Dominica during August 13–23 for the 2012 Article IV consultation on economic developments and macroeconomic policies. The mission met with government and private sector representatives as part of this consultation.

The following statement was issued on Friday by Cebotari:

“The authorities’ decisive actions to support the recovery through public investment have helped Dominica withstand a challenging economic environment. However, weak demand and an outbreak of banana leaf disease will continue to hold back the recovery. Growth is expected to remain subdued this year, accelerating gradually to around 2 percent over the medium term. Rising global food prices may contribute to a modest rise in inflation and weigh on the balance of payments in 2012, but pressures are expected to subside later next year.

“Against this background, the discussion between the authorities and the IMF staff focused on policies needed to maintain fiscal sustainability without derailing the economic recovery and on ways to safeguard the stability of the financial system.

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