Dominica receives IMF aid for reconstruction

The International Monetary Fund disbursed USD3.3 million in emergency funding for Dominica. The money aims to help the island rebuild from the destruction caused by Hurricane Dean, which struck it last year. “The IMF extends its deepest sympathy to the people of Dominica at this difficult time. The extensive damage caused by Hurricane Dean has resulted in great hardship for many Dominicans, and constitutes a serious setback to recent economic progress … the authorities’ continued implementation of prudent policies, together with support from the international community, should help Dominica recover from the setbacks caused by the hurricane,” said IMF Deputy Managing Director and Acting Chair Murilo Portugal. The hurricane crippled Dominica’s agricultural sector, thus shaving off 20 percent from the island’s GDP. (Press release: IMF Executive Board Approves USD3.3 Million in Emergency Assistance for Dominica/IMF)

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