{
  "title": "St. Kitts and Nevis: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis",
  "publication": "IMF Staff Country Reports, November 21, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/11/21/st-kitts-and-nevis-2018-article-iv-consultation-press-release-staff-report-and-statement-by-525802",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Growth and inflation",
      "content": "- Growth decelerated marginally in 2017, as the continued decline in CBI inflows slowed growth in construction.\n- Consumer inflation was low, partly due to a small contraction in food prices."
    },
    {
      "heading": "Fiscal position and public debt",
      "content": "- The overall fiscal balance remained in surplus but has deteriorated markedly since its 2013- peak.\n- The debt-to-GDP ratio increased marginally from the previous year."
    },
    {
      "heading": "External sector and reserves",
      "content": "- 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.\n- Foreign reserves at the ECCB remained at comfortable levels, well above the various reserve-adequacy metrics."
    },
    {
      "heading": "Banking sector and financial risks",
      "content": "- The banking sector has reported capital and liquidity ratios that are well above the regulatory minimum.\n- Elevated NPLs and risks persist, including:\n  - delays in completing the debt-land swap arrangement; and\n  - loss of Corresponding Banking Relationships (CBRs)."
    },
    {
      "heading": "Publication and identifiers",
      "content": "- Publication date: November 21, 2022\n- Pages: 67\n- Volume: 2022\n- Issue: 351\n- Series: Country Report No. 2022/351\n- DOI: https://doi.org/10.5089/9798400226120.002\n- Stock No: 1KNAEA2022001\n- ISBN: 9798400226120\n- ISSN: 1934-7685\n\nSt. Kitts and Nevis: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis\n\n---\n\n Content in this bundle\n\n- 1knaea2022001\n  - 1knaea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1knaea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: November 21, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400226120.002",
    "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.",
    "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.",
    "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.",
    "The banking sector has reported capital and liquidity ratios that are well above the regulatory minimum.",
    "Elevated NPLs and risks persist, including:",
    "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",
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