Search Results

You are looking at 1 - 4 of 4 items for :

  • "ECCU banking system asset quality" x
Clear All
International Monetary Fund. Western Hemisphere Dept.

technical assistance project to build capacity in ECCU regulators and financial institutions. We also take note of the results of the assessment in Annex VIII on “ Natural Disaster Impact on the ECCU Banking System Asset Quality ” as it gives further guidance on addressing climate risks in the banking sector. Maintaining a strong currency continues to be a major policy objective . Despite the economic challenges and the uncertainties in the external sector, the exchange rate parity with the US dollar has remained fixed. The fixed exchange rate policy has served the

International Monetary Fund. Western Hemisphere Dept.

VI. Lessons for the ECCU and Its Members from Countries’ Experience with Fiscal Rule VII. Insurance Penetration and Natural Disasters VIII. Natural Disaster Impact on the ECCU Banking System Asset Quality IX. United Kingdom Overseas Territories—Anguilla and Montserrat 1 Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. In the context of these bilateral Article IV consultation discussion, staff hold separate annual discussions with the regional institutions responsible for

International Monetary Fund. Western Hemisphere Dept.
With ECCU economies slowly emerging from the pandemic with scars, the impact of the war in Ukraine is a setback to the nascent recovery. Higher food and energy prices, amid ongoing supply disruptions and intra-regional transportation bottlenecks, are raising inflation, eroding income, lowering output growth, worsening fiscal and external positions, and threatening food and energy security. As a result, inflation is expected to hover over 5½ percent in 2022. Real GDP is projected to grow by 7½ percent in 2022, leaving output still well below the pre-pandemic level. Fiscal deficits are projected to remain sizable, given continued pandemic- and disaster-related spending and temporary support to address rising living costs, thereby keeping gross financing needs and public debt at elevated levels in the near term. The financial system has remained broadly stable so far, with adequate capital and liquidity buffers, but nonperforming loans remain high and could rise further following the expiration of the ECCB’s loan moratoria program. The outlook is subject to large downside risks, primarily from further increases in commodity prices and new COVID variants amid vaccine hesitancy, in addition to the ever-present threat of natural disasters.
International Monetary Fund. Western Hemisphere Dept.

<0.01 Model 1: Treated variable is nonlife insurance premium in percentage of GDP Models 2 through 5: Treated variable is change in nonlife insurance premium in dollars. Model 6: Treated variable is change in nonlife insurance premium in dollars. Treatment variable is inserted with a lag. Annex VIII. Natural Disaster Impact on the ECCU Banking System Asset Quality 1 1. Natural disasters have historically had a relatively modest impact on the ECCU banking system . Despite large-scale economic damages, even the largest hurricane events such as Maria