IMF Staff Country Reports

Eastern Caribbean Currency Union: 2010 Discussion on Common Policies of Members Countries—Staff Report; Informational Annex, and the Public Information Notice on the Executive Board Discussion

Publication Date:

January 28, 2011

Electronic Access:

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Summary:

Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.

Series:

Country Report No. 2011/030

Subject:

Banking Commercial banks Economic sectors Expenditure Financial institutions Government debt management Public debt Public financial management (PFM) Public sector

Frequency:

Biannually