St. Kitts and Nevis: 2011 Article IV Consultation and Request for Stand-By Arrangement: Staff Report; Staff Supplements; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for St. Kitts and Nevis

International Monetary Fund

No 2011/270, IMF Staff Country Reports from International Monetary Fund

Abstract: Following a two-year long recession, a gradual recovery of St. Kitts and Nevis’ highly indebted economy is under way. The government has shown remarkable resolve in pursuing fiscal consolidation. Notwithstanding the fiscal adjustment, a comprehensive and timely public debt restructuring is critical for the program to be fully financed and to achieve debt sustainability. Available financial sector indicators point to a well-capitalized banking system. Regulation of the non-bank financial sector has been strengthened, but continued efforts are needed to ensure effective supervision.

Keywords: ISCR; CR; debt; St. Kitts and Nevis economy; IMF quota; SBA arrangement; authorities of St. Kitts and Nevis; PPG debt; Debt restructuring; Debt service; Commercial banks; Caribbean; Global (search for similar items in EconPapers)
Pages: 106
Date: 2011-09-02
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