Dominica: Second Review Under the Stand-By Arrangement, Cancellation of Stand-By Arrangement and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

International Monetary Fund

No 2004/006, IMF Staff Country Reports from International Monetary Fund

Abstract: In this study, the authorities outlined a two-stage strategy and explained the need for requesting the cancellation of Stand-By Arrangement and the approval of a Three-Year Arrangement Under the Poverty Reduction Growth Facility (PRGF). The objective of the three-year program is to review growth by addressing the debt overhang and structural weaknesses. The underlying concept of fiscal reform is to support the achievement of the medium-term primary surplus target. The authorities will implement a number of initiatives to strengthen the investment climate in the economy.

Keywords: ISCR; CR; staff appraisal; PRGF arrangement; government; SDR; discretionary exemption; World Bank's Board; IMF staff representative; Debt strategy; Fiscal stance; Caribbean (search for similar items in EconPapers)
Pages: 74
Date: 2004-01-12
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