On May 12, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the 2017 Article IV consultation with Dominica.
Dominica CBI revenues have increased significantly from 5% of GDP in 2015 to 9% of GDP in 2016, reaching ECD 136 million (2016), providing relief to the financing needs.
According to the IMF consultation report…
- Growth is projected to accelerate to above 3 percent in 2017-18 on the back of a pickup in public investment and several large-scale private projects with citizenship-by-investment (CBI) and grant financing.
- Public investment has picked up, with large CBI revenues offsetting the shortfall in grants; and large-scale investment projects in execution are boosting demand in the near term.
- A large increase of citizenship-by-investment (CBI) revenues has provided relief in the near term.
- Private investment is improving with financing from the citizenship-by- investment (CBI) program, including a large hotel construction project (20 percent of GDP) currently in execution.
- Use CBI revenues to reduce debt and build buffers, IMF said in the risk assesment report.
Source: https://www.imf.org/~/media/Files/Publications/CR/2017/cr17391-DominicaBundle.ashx
