St. Lucia: 2015 Article IV Consultation-Press Release; and Staff Report
February 18, 2016
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A moderate economic recovery is taking hold in St. Lucia. Favorable international conditions have contributed to improved demand for tourism, St. Lucia’s main economic sector, and the external current account deficit has narrowed significantly. The authorities have made some progress in addressing a weak fiscal position. However, the financial sector continues to be impaired by nonperforming loans, public debt keeps rising, and unemployment remains very high, while external sector competitiveness continues to be weakened by an overvalued exchange rate, economies of scale disadvantages, and structural bottlenecks.
Subject: Capital spending, Credit, Environment, Expenditure, Fiscal policy, Fiscal stance, Natural disasters, Public debt, Public financial management (PFM)
Keywords: balance of payments, Capital spending, Caribbean, CR, debt target, economic activity, excess reserves, Fiscal stance, fiscal year, Global, growth prospect, ISCR, Natural disasters, private sector, reform agenda, tourism inflow, youth unemployment
Pages:
79
Volume:
2016
DOI:
Issue:
052
Series:
Country Report No. 2016/052
Stock No:
1LCAEA2016001
ISBN:
9781498344968
ISSN:
1934-7685
