Dominica: The Caribbean Information and Credit Rating Services Limited (CariCRIS) has adjudged as adequate the creditworthiness of the Dominica government based on the country’s economic performance during the last three years, a Dominica News Online article said.
The agency has assigned the rating of CariBBB- on the Dominica’s government’s debt of US$25 million, CariCRIS said in a release on Thursday. The rating indicate that the level of creditworthiness of this obligation, adjudged in relation to others debts in the Caribbean is adequate.
The DNO report said the ratings reflect Dominica’s favourable economic performance in the last three years relative to its regional peers in key areas such as economic growth and fiscal performance.
Dominica also has the third highest three-year average real gross domestic product (GDP) growth rate of 2.5 per cent, CariCRIS said.
In addition, Dominica has maintained one of the lowest public sector debt/GDP ratios of 60.2 per cent in the last three years.
According to the rating agency, monetary indicators have been relatively stable and in line with its peers in the Organisation of Eastern Caribbean States.
The DNO article said the external sector has generally performed creditably with a three-year average balance of payments surplus of 1.3 per cent of GDP.
Gross international reserves are also sufficiently healthy to cover 8 months of imports, the release said.
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