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After Bananas: The IMF and the Politics of Stabilisation and Diversification in Dominica

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Article of journalPayne, Anthony After Bananas: The IMF and the Politics of Stabilisation and Diversification in Dominica . [Trad. Después del Banano: El FMI y la Política de Estabilización y de Diversificación en Dominica] Bulletin of Latin American Research, 2008 vol. 27 no. 3 p. 317. Keywords:
Caribbean
Dominica
Economy, Companies, Industry | Politics, Public Administration

Abstract:

Dominica was the quintessential banana island but now faces a major turning point in its history caused by the changing position of this crop within the global political economy. As the decline of its banana industry generated a major economic crisis, it was forced in 2002 to make a desperate turn towards the International Monetary Fund (IMF). It has remained under IMF supervision ever since, but has at last begun to chart the bases of a post-banana development strategy under the leadership of Roosevelt Skerrit, projected into the leadership of his country at an early age by the death of his predecessor but since re-elected to office in May 2005.

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