St. Kitts and Nevis: 2011 Article IV Consultation and Request for Stand-By Arrangement: Staff Report; Staff Supplements; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for St. Kitts and Nevis.
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Summary:
Following a two-year long recession, a gradual recovery of St. Kitts and Nevis’ highly indebted economy is under way. The government has shown remarkable resolve in pursuing fiscal consolidation. Notwithstanding the fiscal adjustment, a comprehensive and timely public debt restructuring is critical for the program to be fully financed and to achieve debt sustainability. Available financial sector indicators point to a well-capitalized banking system. Regulation of the non-bank financial sector has been strengthened, but continued efforts are needed to ensure effective supervision.
Series:
Country Report No. 2011/270
Subject:
Asset and liability management Commercial banks Debt restructuring Debt service External debt Financial institutions Public debt
English
Publication Date:
September 2, 2011
ISBN/ISSN:
9781463902346/1934-7685
Stock No:
1KNAEA2011001
Pages:
106
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