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International Monetary Fund. Western Hemisphere Dept.
This 2019 Article IV Consultation explains that St. Lucia’s near-term growth prospects are favorable, supported by large infrastructure investment and robust tourist inflows. However, longer-term growth continues to be impeded by high public debt, lingering vulnerabilities in the financial system, and structural impediments to private investment. Diminishing policy buffers further weaken the country’s resilience to external shocks against the backdrop of aprecarious global outlook. Completion of long pending legislative initiatives, alongside stronger regional and domestic financial oversight, should provide banks with incentives to strengthen their balance sheets and increase the efficiency of financial intermediation. There is also a need to draw on supervisory and regulatory tools to respond to emerging risks from rising overseas investments of the banks and the rapid expansion of lending by credit unions. The authorities are recommended to should step up efforts to address the institutional, financing and capacity gaps in its climate and disaster response strategy. Supply-side reforms are needed to unlock potential growth by improving the business environment, reducing energy costs, enhancing labor productivity, and further diversifying the economy.
International Monetary Fund. Western Hemisphere Dept.

the BPM6. January 2015 (CARTAC): Training on External Sector Statistics for Survey Respondents Tax Reforms and Revenue Administration November 2019 (CARTAC Tax Administration) Strengthening HQ Capacity: Program Development November 2019 (CARTAC Customs): participation in regional seminar in Developing Trusted Trader and Authorized Economic Operator Programs. September 2019 (CARTAC Tax Administration): Regional Tax Audit Training (participation in regional workshop) July 2019 (CARTAC Tax Administration): IT Support – Implementation of ICT System

International Monetary Fund. Western Hemisphere Dept.

for Survey Respondents Tax Reforms and Revenue Administration FY 2018/19 (CARTAC Customs Administration): Provide training on extracting data from the ASYCUDA system to support risk management, trade facilitation and sound management. October & November 2017 (CARTAC): Building Technical Capacity in VAT Legislation June & Nov 2017 (CARTAC): Building and enhancing HQ capacity, data gathering, analysis, and program reporting March 2017 CARTAC Revenue Administration): Follow-up on Developing a Compliance Risk Management Strategy. November 2016

International Monetary Fund. Western Hemisphere Dept.

: IT Support – (via Peer-to-Peer Technical Assistance (TA) Attachment) October 2016 (CARTAC Revenue Administration): Developing a Compliance Risk Management Strategy. (follow-up TA in March 2017 to complete this TA) October 2016: Data Analytics September 2016 (CARTAC Revenue Administration): Developing a Taxpayer Service Strategy. June 2016 (CARTAC Revenue Administration): Building Audit Capacity June 2016 (CARTAC Customs): Strengthen the Post Clearance Audit Function. October 2015 (CARTAC Tax Administration): Technical Assistance to Support the

International Monetary Fund. Western Hemisphere Dept.

(Guyana Revenue Authority, customs enforcement) May 2012 CARTAC (Tax and customs administration mission) Oct. 2012 CARTAC (Public finance management) Feb. 2013 CARTAC (Management mission to Guyana Revenue Authority) Feb. 2013 CARTAC (Risk Management mission to the Guyana Revenue Authority) Oct. 2013 CARTAC (Customs Risk Management) Apr. 2014 CARTAC (Internal audit training) Feb. 2015 CARTAC (Training on chart of accounts) Mar. 2015 CARTAC (Tax Administration) Jun. 2015 CARTAC (Statistical data

International Monetary Fund. Western Hemisphere Dept.

). Feb. 2012 CARTAC (Guyana Revenue Authority, customs enforcement). May 2012 CARTAC (Tax and customs administration mission). Oct. 2012 CARTAC (Public finance management) Feb. 2013 CARTAC (Management mission to Guyana Revenue Authority) Feb. 2013 CARTAC (Risk Management mission to the Guyana Revenue Authority) Oct. 2013 CARTAC (Customs Risk Management Mission) Apr. 2014 CARTAC (Internal audit training) Feb. 2015 CARTAC (Training on chart of accounts) Mar. 2015 CARTAC (Tax Administration) Jun. 2015

International Monetary Fund. Western Hemisphere Dept.

-up. Apr. 2008 CARTAC (budget management). Feb. 2012 CARTAC (Guyana Revenue Authority, customs enforcement). May 2012 CARTAC (Tax and customs administration mission). Oct. 2012 CARTAC (Public finance management) Feb. 2013 CARTAC (Management mission to Guyana Revenue Authority) Feb. 2013 CARTAC (Risk Management mission to the Guyana Revenue Authority) Oct. 2013 CARTAC (Customs Risk Management Mission) Apr. 2014 CARTAC (Internal audit training) Feb. 2015 CARTAC (Training on chart of accounts) Mar. 2015