St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis

IMF Staff Country Reports, October 28, 2021

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Canonical URL: St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis

St. Kitts and Nevis entered the Covid-19 pandemic from a position of fiscal strength following nearly a decade of budget surpluses.
A significant part of the large CBI revenues was prudently saved, reducing public debt below the regional debt target of 60 percent of GDP and supporting accumulation of large government deposits.

Fiscal position prior to the pandemic: nearly a decade of budget surpluses.
CBI (Citizenship by Investment) revenues:
- Characterized as "large".
- A significant part was saved rather than spent.
- Noted vulnerability: "CBI revenue volatility" listed among keywords.
Public debt:
- Reduced below the regional debt target of 60 percent of GDP.
Government liquidity:
- Accumulation of large government deposits supported by saved CBI revenues.
Context and risks highlighted in metadata subjects:
- COVID-19, External debt, Financial institutions, Health, International organization, Loans, Monetary policy, Public debt, Revenue administration.
Keywords indicating areas of concern or focus:
- authorities of St. Kitts and Nevis, Caribbean, CBI program, CBI revenue, CBI revenue volatility, COVID-19, Global, government target population, Loans, lower-than-expected CBI receipts, Western Hemisphere.