## 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_

## Source details

**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](https://www.imf.org/en/publications/cr/issues/2021/10/28/st-kitts-and-nevis-2021-article-iv-consultation-press-release-staff-report-and-statement-by-500804)

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## Bibliographic details
- Published: October 28, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513599151.002

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### Summary
- 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.

### Key findings and observations
- 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.

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_Source: https://www.imf.org/en/publications/cr/issues/2021/10/28/st-kitts-and-nevis-2021-article-iv-consultation-press-release-staff-report-and-statement-by-500804_