IMF Executive Board Concludes 2008 Article IV Consultation with Dominica

Public Information Notice (PIN) No. 08/101: Dominica's economy has weathered well the effects of Hurricane Dean that struck the country in August last year, causing damage estimated at about 20 percent of GDP. Real output growth slowed to 1½ percent in 2007, after reaching a decade high 4 percent in 2006. The economy is expected to grow by 2½ percent in 2008 supported by the recovery in agriculture and reconstruction efforts. Inflation accelerated to 5½ percent in 2007, mainly reflecting international energy and food price increases, and is projected to rise to about 6½ percent in 2008.