Skerrit backs IMF findings despite minor disagreement

Prime Minister Roosevelt Skerrit has thrown his support behind a recent International Monetary Fund (IMF) report, stating that it was done “diligently” and “properly”, though he acknowledged disagreement regarding some content and language choice.

He voiced his opinion while addressing Parliament recently.

The January 2026 update of the World Economic Outlook by the International Monetary Fund provides a detailed review of global economic conditions, building on its October 2025 projections. It forecasts global growth at 3.3% in 2026 and 3.2% in 2027, slightly higher than earlier estimates. This improvement is driven by increased investment in technology, productivity gains from artificial intelligence, supportive fiscal and monetary policies, and resilient private sector activity.

According to the report, advanced economies like the US and India are expected to outperform slower-growth regions such as the eurozone and China, reflecting uneven recovery patterns and structural differences.

“They believe that some of the things that the IMF said is a negative to the government, but I tell them no,” he said. “I love the IMF report, I do not agree with some of the things they say, the kind of language they use sometimes, but I respect the report.”

He continued, “It is done diligently and it is done properly.”

For perspective, Skerrit summarized and explained to the members of the House what the report says.

“I am reading from the article for consultation of March 2026,” he noted. “The IMF said, Mr. Speaker, real GDP growth accelerated to 4.5 percent in 2025, from 3.5 percent in 2024, supported by robust tourism, 36 percent above pre-pandemic levels and targeted development investments.”

He added, “The airport, the cable car, the marina, housing, roads, supporting the hotel and the private sector, improving doing business in Dominica, agriculture.”

The report goes on to say that inflation continues to ease in the country, averaging 2.5 percent in 2025.

In context, global inflation is moderating, but some emerging markets continue to face persistent price pressures, requiring careful monetary policy management.

The report added that inflation in the US is expected to return to target more gradually.

“The IMF emphasized the importance of fiscal consolidation, structural reforms, and multilateral cooperation to sustain growth momentum,” Skerrit quoted. “Policymakers are advised to restore fiscal buffers, preserve price and financial stability, reduce uncertainty, and implement targeted industrial policies to enhance productivity.”

On the issue of the deficit, he noted, “The current account deficit [remains] elevated, primarily reflecting high construction-related imports.”

The prime minister expressed that, in his view, this is positive.

“….[It] means Mr. Speaker, in essence, some things are happening,” he surmised.