IMF Staff Country Reports

St. Vincent and the Grenadines: 2001 Article IV Consultation—Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for St. Vincent and the Grenadines

Publication Date:

February 19, 2002

Electronic Access:

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Summary:

This 2001 Article IV Consultation highlights that in recent years, economy of St. Vincent and the Grenadines has diversified from bananas into services, mainly tourism, telephone and Internet-based marketing, and offshore financial services. However, the rate of economic growth declined sharply to 2 percent in 2000. The external current account deficit is estimated to have doubled to about 16½ percent of GDP in 2001 largely owing to a decline in banana export volumes, higher imports, and a slowdown in tourism receipts and remittances.

Series:

Country Report No. 2002/026

Subject:

Agricultural commodities Commodities Economic sectors Expenditure National accounts Public debt Public enterprises Public investment spending Public sector savings