St. Lucia: 2015 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2016/052, IMF Staff Country Reports from International Monetary Fund

Abstract: A moderate economic recovery is taking hold in St. Lucia. Favorable international conditions have contributed to improved demand for tourism, St. Lucia’s main economic sector, and the external current account deficit has narrowed significantly. The authorities have made some progress in addressing a weak fiscal position. However, the financial sector continues to be impaired by nonperforming loans, public debt keeps rising, and unemployment remains very high, while external sector competitiveness continues to be weakened by an overvalued exchange rate, economies of scale disadvantages, and structural bottlenecks.

Keywords: ISCR; CR; tourism inflow; balance of payments; private sector; fiscal year; economic activity; debt target; reform agenda; youth unemployment; excess reserves; growth prospect; Capital spending; Fiscal stance; Natural disasters; Caribbean; Global (search for similar items in EconPapers)
Pages: 79
Date: 2016-02-18
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