St. Kitts and Nevis: Fifth and Sixth Reviews Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Request for Waiver of Applicability; Staff Report; Press Release
February 18, 2014
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This paper discusses St. Kitts and Nevis’ Fifth and Sixth Reviews under the Stand-By Arrangement (SBA), Request for Waiver of Nonobservance of Performance Criterion (PC) and Request for Waiver of Applicability. All fiscal program targets were met through the end of March 2013, partly thanks to strong receipts from the Citizenship by Investment program. However, the continuous PC on the nonaccumulation of government and guaranteed external arrears was missed by a minor amount because of temporary delays in payments. Three structural benchmarks were met at the end of December 2012 and the end of March 2013, while two benchmarks were met with delay. The IMF staff supports the authorities’ request for the completion of the fifth and sixth reviews under the SBA and the waiver of applicability.
Subject: Arrears, Credit, External debt, Money, Public debt, Revenue administration
Keywords: Arrears, Caribbean, CR, Credit, debt, debt service, disbursement of an amount equivalent, Executive Board's discussion, ISCR, liquid asset, short-term debt, St. Kitts and Nevis' IMF quota, Stand-by Arrangement, waiver
Pages:
55
Volume:
2014
DOI:
Issue:
049
Series:
Country Report No. 2014/049
Stock No:
1KNAEA2014001
ISBN:
9781475591552
ISSN:
1934-7685
