IMF reports positive 2024/25 economic trajectory of 4.5 percent growth for Dominica

Dominica is anticipated to experience a steady growth trajectory, averaging around 4½ percent during the period of 2024-25, as per recent projections by the International Monetary Fund (IMF). This positive outlook, outlined in the IMF’s Staff Concluding Statement following its 2024 Article IV Mission in Dominica held from March 5-14, attributes the expected growth to various factors. These include the resurgence of stayover tourism to pre-pandemic levels, expansions in agriculture initiatives, and advancements in crucial infrastructure projects deemed as priorities.

The IMF’s report underlines an optimistic future, emphasizing the anticipated recovery of stayover arrivals, the execution of pivotal investment plans, and responsible fiscal management. Furthermore, inflation is forecasted to stabilize at around 2 percent in alignment with trading partner dynamics.

Key projects such as the transition to geothermal production, developments in the aviation sector including the new airport, and endeavors to enhance infrastructure resilience are poised to yield sustainable growth benefits while mitigating external imbalances.

Highlighting significant economic indicators, the IMF pointed out that inflation has receded from its peak of 9.7 percent in 2022 to 2.3 percent by the end of 2023, largely attributed to favorable shifts in global commodity prices. Moreover, favorable terms of trade coupled with robust service exports have contributed to a reduction in the current account deficit to 26.2 percent.

Looking ahead, the IMF anticipates a gradual narrowing of the current account deficit over the medium term, propelled by the rise in tourism exports and a steady decline in imports of investment goods and fuel. Despite challenges, such as elevated public debt, the IMF remains optimistic, expecting a gradual reduction in public debt supported by prudent fiscal policies.

Additionally, the IMF report lauds the resilient performance of the financial system and acknowledges the gradual improvement in the fiscal position, while also urging continued vigilance against potential risks stemming from global uncertainties, climate change, and fluctuating Citizenship-by-Investment (CBI) flows.

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  1. Gone Are The Days
    March 21, 2024

    The I M F? you’re doomed.
    Together with their World bank and world trade org – WTO, they have made the works a f jacked up world. Countries must depend on them so that they can PULL the PLUG anytime they decide you step out of line. Just see how they jacked up Africa and prevent them from feeding themselves. PREY!

  2. Francisco Etienne-Dods Telemaque
    March 19, 2024

    Something seems wrong: who’s telling the truth? How many reports has the IMF released?
    We heard that the IMF said recently that the economy of Dominica was on the brink of collapse, we heard that last week, if what was conveyed last week is true; how come all of a sudden the same IMF is predicting a 4.5% growth in the same Dominica, and may I ask based on what?
    If that is really a reported by any institution such as the IMF, they need to be reminded that Dominica’s main industry, is the sale of our national passports. Our economy is based on this sale of passports to the underworld.
    Statistics shows that not even in a country as the United States with the many industries one predicts the economy to grow that fast!
    The IMF do have a history of giving false information, and very bad advice to third world countries which caused them fail.
    That has happened many times over the years; this might be Dominica’s turn!

  3. Lin clown
    March 19, 2024

    Now I know MEME is posting his comments from a mental institution.There are hundreds of $350,000 houses in Dominica built by Dominicans living in Dominica.There are no food section 8,no soup kitchen,no one living in cars,no handout by the one going hungry in Dominica.The handful of street people choose to live on the street because of a mental problem.Every house in Dominica has water,electricity and internet.Every child above 5 years has a cell phone with a plan.Dominican women are the best dressed in the Caribbean,expensive shoes,hair,nails,jeans and dresses.Dominica has more than 39,000 registered vehicles and the majority of women above 20 can drive.In Dominica more women work than men and there are more small businesses than anytime before and everybody make money.Larger businesses are expanding,SMart,Whitchurch,Fresh Market,Auto Trade,Issa,Do it Center Muslin Store ,Burton and more.Not even the street people beg in Dominica,they never go hungry.Economy is good

    March 18, 2024

    masterlin labad……. time will tell

  5. If we knew better
    March 18, 2024

    Growth? Dominica? The private sector is dying. Banks closing. How is there growth? CBI drying up. Unemployment high. HOW ARE WE GROWING?

    Well-loved. Like or Dislike: Thumb up 9 Thumb down 2
    • March 19, 2024

      And what are you doing for your country to ameliorate the economic situation? Talking and criticizing won’t do it. Come better than that, brother. Look at yourself in a mirror and see how old you have grown. That is one example of growth. Life must be good in Dominica. You are not hungry; you are not starving to write all your foolishness on DNO.

  6. Lin clown
    March 18, 2024

    DNO should educate those blue do nothing ERC aholes.Lennox Linton told the world that members of UWP had vilified and backstabbed him.He was referring to a handful of blue crooks and traitors led by Sticky Fingers.According to Lennox Linton if election were to be called in the next 6 months,Sticky Fingers would not qualify to vote or contest,because he has been living on foreign lands.Lennox Linton and Sticky Fingers have two different opinion about electoral reform.Crooked ERC wanted to have both Linton and Sticky Fingers talk on electoral.Linton refused to talk on the matter after Sticky Fingers spoke from South Sudan.I listened to Rosa Sparks say Granbarians are slaves in 2024.Washbum Cuffy said the crowd was small because the road from Delice to Petite Savanne was not good.Another idiot said DLP should build a university in Grandbaby.None spoke about putting Pierre Charles face on the head of a Donkey,and Rosie being an arsonist,jailbird,liar and communist.Granbay don’t forget.

  7. TangledWeave
    March 18, 2024

    I waiting to see all that growth hit my bank account. Or at least for things to ease up with the groceries. But prices here hardly ever go down.

    Well-loved. Like or Dislike: Thumb up 11 Thumb down 4
    • MEME
      March 18, 2024

      You wont see it hit your bank account, because you are not a cabalist. Man the cost of living is a KILLER on island. A handful of groceries to cook just 2 pots is already EC$100.00. I keep wondering how some families are making it. No wonder there are a few villains who are continuously preying on some of our vulnerable citizens.

      Hot debate. What do you think? Thumb up 5 Thumb down 3
  8. DeEyesHaveIt
    March 18, 2024

    where are the comments? why is the comment section so dry?? lol more you try to paint the govt as corupt, the world sees the truth!! positive growth trajectory and prudent financial management the report said!!!! Take that

    Hot debate. What do you think? Thumb up 9 Thumb down 18
    • MEME
      March 18, 2024

      Yes indeed this is a very hilarious comment. Is the IMF a court of law? Yes this government led by Skerrit is extremely CORRUPT, corrupt to the core, and they cant challenge anyone for saying so. For your edification, the IMF works with the figures given to it by the corrupt Skerrit regime. You think Skerrit will hand himself? Has Skerrit ever been honest on anything? So just relax, because you surely dont know what you are saying.
      Have you felt the growth? Between 90-95% of Dominicans are penniless.Most are begging…Where are the jobs? Have you even heard of a term called jobless growth? Go research it.

      Well-loved. Like or Dislike: Thumb up 7 Thumb down 3
  9. dissident
    March 18, 2024

    Dat song is just as flowery as some nasty business tunes dat really just empty and gutless!
    One thing I know Skerrit doesn’t feel sorry, no sympathy for de taxpayers red or blue or whatever.
    Can de IMF tell us how much more improvement we can get in de economy if we eliminate that $63,000 month rent for Skerrit??????

    Hot debate. What do you think? Thumb up 6 Thumb down 10
  10. Juanita
    March 17, 2024

    Aye, so is the IMF now going to liaise with “Mr. Abdullah” to send the money? We know it’s all a guessing game but will anyone in Dominica notice the difference? Asking for a friend.

    Well-loved. Like or Dislike: Thumb up 16 Thumb down 4
  11. March 17, 2024

    Was this an IMF report from IMF employee Thomas Fontaine? Oopss, he is in Sudan. I completely forgot where he is. That is how insignificant they are. Talk crap and do not know crap. I am happy that the IMF is an independent organization, entity. Let us all hear what know-it-all Ibo France and his VeePee Francisco Telemakak have to say. They are the Lords of Dominica. Great job Skerrit. Keep it up. The progress we make in this country of ours is not always how rich we are.

    Hot debate. What do you think? Thumb up 7 Thumb down 16
    • Ibo France
      March 18, 2024

      You are a hardened, ultra ignoramus. The 4.5% is just an estimate. It’s NOT set in stone.

      Ignorance is your problem. You are too dupable. Not everything that is printed is factual as you think. That double degree that you gloat about is not worth the sheets of paper they are written on.

      Ignorance is not bliss. Go and educate yourself to be of some worthiness to your country. No one resonates with the poppycock you vomit.

      Hot debate. What do you think? Thumb up 4 Thumb down 6
      • March 18, 2024

        You bet the double degrees are worth it. I am living happily and doing well in America. Too bad I am not screaming for your help and will never. The sad thing is you cannot take away from me what I have earned. I know you have tried hard. My daughter is also doing very well with her two degrees and her great job making money. You just cannot keep a good man down. I think it bothers you. Ah bet you if Linton or Fontaine were in power when That IMF report came out you would been showering dem guys with praise and whatever. You would have been extolling the virtues and hard work of these two boom boom clats. My degrees are working. Thanks be to God. I guess everything printed is factual only when Linton and Fontaine are in power. Boy, you are something else. When will you learn? You are so quick to criticize everything good about the Skerrit Administration. You are no different from Donald Trump. You are just another River Street bum.

  12. Ibo France
    March 17, 2024

    Where is this 4.5% growth when every one outside the cabal is dead ‘broke’. If this percentage is true, the ministers, ruling party advisors, consultants and senators are only beneficiaries.

    Only two sectors are doing well. The construction sector led by governmental infrastructure projects and the funeral parlors.

    Nurses dead broke; police officers flat broke; teachers live in subtle poverty; most businesses in the red; most civil and public servants catching hell. Hunger is a constant companion of a large majority of resident Dominicans.

    That 4.5% growth is like a ghost. It is not seen nor felt by thousands of undernourished, emaciated, famished children and adults existing on the island.

    Hot debate. What do you think? Thumb up 13 Thumb down 10
    • Mark
      March 18, 2024

      All of your negativity will not change the projection, Mister all things DOOM and GLOOM. This is exciting news which I am sure most patriotic Dominicans welcomed but not you. You are one sad individual who will find fault with everything, possibly even with your own existence.

      • March 20, 2024

        I like that. Even with his own existence will he find fault with. That Ibo is a frustrated, disgruntled old man who needs to sit on the dock of a bay watching the waves roll in.

  13. Performance
    March 17, 2024

    u know…sometimes it hard to believe these projection….because it’s like every year Dominica gets a hurricane 🌀 and we get absolutely no were….they are quite aware this government has been there for over 20 years….they need to show how the port has been improved….how agriculture Is escalating….show how employment is growing….show how Dominica is growing with this level of salary increase to a lazy government…..what is Dominica really exporting? importing everything to keep Dominica afloat? and the government is really pleased with its performance over these years?

    Hot debate. What do you think? Thumb up 7 Thumb down 6
      March 18, 2024

      @ Performance, have you ever take note of he number of vehicles that are cleared on the port and sold out every month? Have you noticed whenever there is an action or sewo, no matter the price ALL tickets and drinks are sold out? How can a broke country sustain such?

      • Wake up and grow up
        March 19, 2024

        cars rum and sewo Dominicans spending money on? that’s a really superficial way of showing the economy is doing well. There are people with disposable income, it also makes sense that luxury goods like vehicles and tickets to fet are being bought by these individuals, and businesses but the month to month salaried Dominican are not the ones affording these things or they are spending out of their means through debt.

        Besides these are projections not realized numbers yet and they are more susceptible to the skew I’m referencing above to the 1 – 10% that can be at every sewo and have disposable income all the time.

  14. Arshia
    March 17, 2024

    The most important source of financing and saving Dominica from poverty and inflation is the CBI citizenship program, which has two conditions for the benefit of the people of Dominica. First, complete transparency in all stages Second, strengthening relations with western countries such as England, Canada and America Because you can be sure that no one will pay 100,000 dollars to travel to China without a visa! The basic requirement of the above two conditions is the impeachment and trial of Roosevelt Skerrit
    god bless Dominica

    Hot debate. What do you think? Thumb up 6 Thumb down 8
    • March 18, 2024

      @Arshia, stop talking rubbish. The western countries will continue to take us for granted when people with your type of backward thinking exist to call for a return to colonialism. Just look at the billions of dollars your western friends are dumping in Ukraine and Israel while totally ignoring Haiti.

      Well-loved. Like or Dislike: Thumb up 4 Thumb down 0
      • March 19, 2024

        She is yearning and hungry to come to America and England that is why she want the government to fix dem visas so she can fly like a kite. She hungry and seeing misery in poor Dominica.

    • Francisco Etienne-Dods Telemaque
      March 20, 2024

      How can the sale of Dominica passports save the country from poverty and inflation?
      In the first place you are complicating yourself, I don’t believe that inflation has anything to do with poverty as it exists in Dominica. It’s nonsensical to suggest that CBI program is the financial savior to any poor Dominican. The sale of Dominica passports are only benefiting the people (the crooks) who are privileged to sell them: while you carved your argument to desieve the unsuspecting, I asks you; haven’t you heard about the billions of dollars which derived from the sale of the nation passports, deposited in foreign banks in the name of foreigners.
      one individual, when in Dominica uses a fictitious name; in Dubai he used another, in another, Middle Eastern country he is know as someone else!
      It is not a good thing to try to desieve people, you are in your tangled web talking things that makes absolutely no sense whatsoever!
      How many people in the country you know earñ a living via CBI

      • March 21, 2024

        You are so stupid and ignorant. Is that all Dominica has to offer? Your creep from Wesley village. Is that all you can talk about, passport and CBI money? You are such an a..hole. I am telling you right now, you will not see either Lennox or Fontaine become the PM of this beautiful and progressive country Dominica, not on this earth, not on the next one. That is why you were shitting over pit latrines in Wesley and in Antigua.

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