Antigua and Barbuda: 2023 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2024/022, IMF Staff Country Reports from International Monetary Fund

Abstract: The 2023 Article IV Consultation discusses that Antigua and Barbuda’s economy continues to bounce back from the sharp contraction experienced during the coronavirus disease 2019 pandemic. Real activity is expected to return to prepandemic levels this year, with growth projected at 5.7 percent, driven by a rebound in tourism and construction activity. The strong recovery from the pandemic provides a window of opportunity to decisively address Antigua and Barbuda’s fiscal and external imbalances, build buffers, and invest in resilience. Higher revenues and expenditure restraint should reduce the public debt and fiscal financing needs further. The social safety net should provide more targeted support to the vulnerable. Stronger fiscal institutions are needed to enhance the credibility of fiscal plans. There is scope to improve the oversight and regulation of credit unions.

Keywords: sound cash management; debt management strategy; money market rate; ECCB website; E.C. dollar; External sector statistics; Arrears; Real sector statistics; Global; Caribbean (search for similar items in EconPapers)
Pages: 64
Date: 2024-01-23
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