{
  "title": "St. Lucia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia",
  "publication": "IMF Staff Country Reports, March 13, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/03/13/st-lucia-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-565180",
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  "summary": "The 2024 Article IV Consultation highlights that St. Lucia’s tourism-dependent economy has normalized after the pandemic. Gross domestic product growth is expected at 3.7 percent in 2024, on strong tourism, construction, and manufacturing activity.",
  "sections": [
    {
      "heading": "Economic outlook and growth projections",
      "content": "- St. Lucia’s tourism-dependent economy has normalized after the pandemic.\n- Gross domestic product growth is expected at 3.7 percent in 2024, on strong tourism, construction, and manufacturing activity.\n- Over the medium term, once planned infrastructure and hotel investments approach completion, growth is projected to slow to a modest 1.5 percent over the medium term."
    },
    {
      "heading": "Inflation and external balance",
      "content": "- Inflation is expected to rise to 2 percent over the medium term as global input costs normalize.\n- The current account deficit is anticipated to narrow further over the medium term on account of stronger tourism and lower fuel prices."
    },
    {
      "heading": "Risks and vulnerabilities",
      "content": "- Risks to the outlook are tilted to the downside and include:\n  - investment delays\n  - large debt rollover needs\n- St. Lucia is vulnerable to:\n  - a global slowdown\n  - supply disruptions\n  - natural disasters and climate change"
    },
    {
      "heading": "Upside scenario",
      "content": "- Stronger-than-expected growth in tourism and construction could provide a positive boost to the economy."
    },
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      "content": "- Pages: 74\n- Volume: 2025\n- Issue: 065\n- Series: Country Report No. 2025/065\n- DOI: https://doi.org/10.5089/9798229004060.002\n- ISBN: 9798229004060\n- ISSN: 1934-7685\n- Subject tags included: Anti-money laundering and combating the financing of terrorism (AML/CFT), Credit, Crime, Money, Public debt, Revenue administration\n\nInternational Monetary Fund. St. Lucia: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia\n\n---\n\n Content in this bundle\n\n- 1lcaea2025001-print-pdf\n  - 1lcaea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1lcaea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 13, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798229004060.002",
    "St. Lucia’s tourism-dependent economy has normalized after the pandemic.",
    "Gross domestic product growth is expected at 3.7 percent in 2024, on strong tourism, construction, and manufacturing activity.",
    "Over the medium term, once planned infrastructure and hotel investments approach completion, growth is projected to slow to a modest 1.5 percent over the medium term.",
    "Inflation is expected to rise to 2 percent over the medium term as global input costs normalize.",
    "The current account deficit is anticipated to narrow further over the medium term on account of stronger tourism and lower fuel prices.",
    "Risks to the outlook are tilted to the downside and include:",
    "St. Lucia is vulnerable to:",
    "Stronger-than-expected growth in tourism and construction could provide a positive boost to the economy.",
    "Pages: 74",
    "Volume: 2025",
    "Issue: 065",
    "Series: Country Report No. 2025/065",
    "DOI: https://doi.org/10.5089/9798229004060.002",
    "ISBN: 9798229004060",
    "ISSN: 1934-7685",
    "Subject tags included: Anti-money laundering and combating the financing of terrorism (AML/CFT), Credit, Crime, Money, Public debt, Revenue administration",
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