The International Monetary Fund’s Executive Board has approved a disbursement for US $3.1 million to Dominica under its Rapid Credit Facility.
The funding is aimed at helping Dominica with reconstruction and rehabilitation following a series of floods and landslides in the summer and fall of 2011.
The floods caused millions of dollars in damage, including the destruction of a Chinese agriculture project on the island.
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By the time that money reach the people it supose to help it will dwindle down to $25 each , the rest will be in those big bank account, as usual
if i read this imf chart correctly…with this new 3.1M loan we now owe the IMF more money than we ever have in Dominica’s history almost $13M USD! http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=255&date1key=2011-12-31&category=EXC
I.M.F. MEANS; IT’S MY FAULT
england and p.m cameroon is keeping tabs on how much ‘help’ we recieving…. lol..
And what has Dominica ever done for the rest of the world, leave alone for itself? We curse our donors but never refuse the handouts, do we? Is that how we expect to earn respect? It is about time we start to look at ourselves in the mirror before criticizing others.
I can guarantee all you guys just seating by the roadside waiting for some poor relative from overseas to send you all a bread just get off you all backsides and do something constructive. The fact that the imf is helping Dominica shows that all these allegations are malicious and unfounded so you all better take a hike
I TOUGHT WE DIDN’T NEED THE IMF!!!
I THOUGHT WE WERE DOING SOOOO WELL THAT WE WERE SENDING MONEY TO ENGLAND AND AMERICA TO HELP THE POOR FOLKS THERE?
HHHHMM
I WONDER WHO SAID THAT
We need to differentiate between natural disasters and disasters that could have been avoided by regular maintenance, timely intervention and correct civil engineering procedure.
…But….IMF Funds are usually a last resort….I’m paying keen attention, (as keen as I’m ‘allowed’) to this “Transparent” Government’s choice of acquiring funding to deal with the flood damage. We may be in more dire straits than they admit to us…..hmmm!
Thats a disguise and its the MO of this government to conceal the real truths and keep the people in the dark deceptively. The facts will be revealed in time
Yes, Asterix, we are treated like mushrooms. Kept in the dark and now and again they open the door to throw a bucket of manure over us.
first of all funding from the IMF is usaully a loan. if that is the case we will have to pay it back.
secondly the wealth of the so called first world countries is sustained by explioting so called third world countries.
Lets see who is going to benefit from this loan.
EVEN IMF THEY FRAUDING !!!
HAHAHA
“The total cost of reconstruction is expected to be as high as 6.5 percent, according to the IMF, which would weaken Dominica’s balance of payments, the fund said.” http://www.caribjournal.com/2012/01/11/international-monetary-fund-approves-3-1-million-disbursement-for-dominica/
Ladies and gentlemen this simply means to say that the interest rate has augmented and our debt has increased thus we will never get out from the web of our creditors.
the 6.5 percent referred to in this instance is not the interest rate on the loan. The article does not say 6.5 % of what. But, having familiarity with the IMF economic analyses, I believe the Journal should have reported 6.5 % of GDP.
You are right and in fact that is what was reported. This means that according to my calculations Dominica’s GDP would only be U.S.$.47.7 million! If true it is frightingly low. I would be more comfortable if the Govt. could confirm that the report is in fact wrong and give us the correct figure.
Firstly, the IMF is funded by countries such as the UK, (as are funds from the EU) so let’s hear no more of “We not getting money from England” in so many posts.
Secondly, I believe that there are always conditions attached to IMF funding – I wonder what conditions apply to this?
The same money they made during slavery!!!
O! O! O! Please
they asked for 27 and they got 3 million why is that?
Ask your bank when you go for a loan and they want to know what collateral you have.
Thomson Fontaine must be regretting that he no longer is at the IMF.
This would have been an opportunity to squeeze Skerrit’s . . I mean Dominican’s
that’s nonsense. Thompson Fontaine had no role to play in decisions on granting Dominica loans when he was at the IMF. The Fund does not allow staff economists to work on their countries of nationality. So, Mr. Fontaine has no reason to regret.
Have respect for the Patriot.LOVE YOU DOCTOR FONTAINE.!
Money down the drain! The IMF and the World Bank must stop pouring our money down the drain into these broken and corrupt countries. We in the West need our money now. Let these rogue nations get help from their rogue friends like Iran and Venezuela. Why do they need the IMF – they do not like us but they want our money so their corrupt leader can feed his hungry unemployed followers instead of him creating jobs. Enough already!
@ truth be told i have a little advice for u shot the hole that God gave u if u have not sensible to say …………..but then again i can’t blame u it our power hunger politician that have the likes of u speaking so
Yuh ah eeeiiiiidiat!….
The Court battle is now behind you Mr. Skerritt, look forward and continue to develop and make safe our country.
My marijuana plantation was destroyed from the recent floods. Am looking forward for some funds from that 1.3M to rehabilitate my plantation.
Lord i hope the money go to the right cause and not in them big boys pocket i know how tempting that much money can be.That money should be dispersed among dominicans and not party affiliates.
God protect Dominica from the floods,landslides and other natural disasters.
Thanks for all the blessings. I hope this money goes to help does who need it the most.
One love to all Dominicans!
God protect Dominica from the IMF!!!
Well done and many thanks to the IMF. Ministers use the money wisely and look after the people of DA and the infrastructure to build a better Dominica. Peace and Love!
Jane…we ought to be very afraid….Not many countries survive the IMF!
Jane, this money is to rebuild what was destroyed, not foranything else. Unlike Venezuela, China, Libya, etc The IMF will be looking at what we do with the money very closely, so we cannot do what we want with it. And that is just more added to our already 9 months pregnant national debt.
IMF again? we couldn’t have gotten help from China? or Taiwan?
IMF? lord haver mercy!
Taiwan?….Which world do u live in?? There are Two Chinas…Democratic (Taiwan)….and People’s Republic (China), which is the one that we talk to…..They, incidentally, do not acknowledge the existence of the other one. Thus we cannot speak to them both….it’s one or the other!
This country has been made so poor and impoverished by this corrupt group of leaders, that even if we need just 50cents to buy a bread, we have to beg for it abroad.
FROM WHERE I AM SITTING I CAN ONLY SEE IT GETTING WORSE.A lazy mendicant population has been created, and the effect is staring us in the face.
Mr PM can you tell us what is the country’s National Debt?
…………. .
come from your PIT boy, you will turn RED:(
………….drive and look,
all over the island with your eys open.
And what you see is no agriculture, criminal activities,poverty, indigents,corruption,etc..
ARE YOU STILL IN THE PIT?
how u going to drive around when u can’t afford a ride?lol