St. Lucia: Staff Report for the 2010 Article IV Consultation
April 9, 2010
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This 2010 Article IV Consultation highlights that macroeconomic outcomes have weakened significantly for St. Lucia. Real GDP is estimated to have contracted by 5.2 percent in 2009, reflecting a sharp decline in visitor arrivals and construction activity related to foreign direct investment. For 2010, the outlook is for a nascent recovery, supported by higher advance hotel bookings and additional flights to the island. Against this backdrop, Executive Directors have welcomed the authorities’ commitment to implement a credible fiscal framework to achieve fiscal sustainability.
Subject: Capital spending, Economic sectors, Expenditure, External debt, Fiscal policy, Fiscal stance, Public debt, Tourism
Keywords: Capital spending, Caribbean, consultation, consultations informational annex, CR, debt ratio, deficit, executive board discussion, Fiscal stance, Global, ISCR, outturn, sharper-than-expected downturn in the economy, St. Lucia authorities, Tourism
Pages:
72
Volume:
2010
DOI:
Issue:
092
Series:
Country Report No. 2010/092
Stock No:
1LCAEA2010001
ISBN:
9781455203611
ISSN:
1934-7685
