St. Kitts and Nevis: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis
IMF Staff Country Reports, November 21, 2022
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- St. Kitts and Nevis: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis
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Bibliographic details
- Published: November 21, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400226120.002
Growth and inflation
- Growth decelerated marginally in 2017, as the continued decline in CBI inflows slowed growth in construction.
- Consumer inflation was low, partly due to a small contraction in food prices.
Fiscal position and public debt
- The overall fiscal balance remained in surplus but has deteriorated markedly since its 2013- peak.
- The debt-to-GDP ratio increased marginally from the previous year.
External sector and reserves
- The current account deficit remains high and only marginally declined in 2017, as the decline in CBI receipts was more than offset by growing tourism receipts and a significant decrease in imports.
- Foreign reserves at the ECCB remained at comfortable levels, well above the various reserve-adequacy metrics.
Banking sector and financial risks
- The banking sector has reported capital and liquidity ratios that are well above the regulatory minimum.
- Elevated NPLs and risks persist, including:
- delays in completing the debt-land swap arrangement; and
- loss of Corresponding Banking Relationships (CBRs).
Publication and identifiers
- Publication date: November 21, 2022
- Pages: 67
- Volume: 2022
- Issue: 351
- Series: Country Report No. 2022/351
- DOI: https://doi.org/10.5089/9798400226120.002
- Stock No: 1KNAEA2022001
- ISBN: 9798400226120
- ISSN: 1934-7685
St. Kitts and Nevis: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis
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