Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), is expected to visit Dominica this week. He expressed satisfaction over the country’s recovery following Hurricane Maria in 2017. Zhang stated that Dominica is recovering faster than was expected and expressed confidence that development in the Tourism and Energy sectors to include geothermal electricity are on track for completion in the near future. He also highlighted that retail and construction activities show strong performance given reconstruction and restocking across the island.
Zhang mentioned that the steps taken by the country proves its ability to cope with natural disasters, namely in the preparation of an Integrated National Climate Resilient Strategy and the Climate Resilience Execution Agency for Dominica (CREAD). The Deputy Managing Director also touched on the Citizen by Investment (CBI) program and stated that the CBI has been a source of foreign investment and fiscal revenues due to several projects within the Tourism sector that are in their advanced stages, carded for generation of income and jobs in the economy. Dominica’s responsible government officials were also commended for their achievements in the economy and stated that the country has proven its commitment to meet fiscal obligations under the most extreme circumstances.
Although Zhang had commendations for the country, he also warned that the contribution of the private sector is key for the long term development of the country and that the public sector must continue to play an important role in creating a favorable business environment.
Attached is a list of questions asked during the interview with Caribbean Media Corporation (CMC) in Dominica.
