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International Monetary Fund

supported by the OECS Financial Sector Strengthening and Regulation Project; the OECS Regional Energy Regulator Program that would establish a regional electricity regulator to improve the regulatory environment and quality and reliability of services; and the Caribbean Regional Communications Infrastructure Program (CARCIP), which is a Caribbean-wide initiative aimed at increasing the availability, use and development impact of regional broadband communications infrastructure. It is expected that these interventions will be complemented by grants and technical

International Monetary Fund
Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.
International Monetary Fund

Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.

International Monetary Fund

Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals.

International Monetary Fund. Western Hemisphere Dept.

Matter Page EASTERN CARIBBEAN CURRENCY UNION STAFF REPORT FOR THE 2017 DISCUSSION ON COMMON POLICIES OF MEMBER COUNTRIES May 18, 2017 Under Article IV of the IMF’s Articles of Agreements, the IMF holds bilateral consultations with members, usually every year. In the context of the 2017 ECCU Common Policies Discussion, the mission held policy discussions with the Governor of the Eastern Caribbean Central Bank (ECCB), senior officials of the Caribbean Development Bank (CDB) and of the Organization of Eastern Caribbean States (OECS), financial sector

International Monetary Fund

, and the OECS Financial Accountability Assessment. In conjunction with the IMF, a Financial Sector Assessment Program (FSAP) was completed in early 2004. The Bank also recently completed an OECS study on Growth and Competitiveness, a Caribbean Air Transport Rationalization Report and a report on Crime, Violence and Development: Trends, Cost and Policy Options in the Caribbean. Work is ongoing on an OECS Private Sector Financing Study, and a Caribbean Skills and Curriculum Study. C. Financial Relations (In millions of U.S. dollars) Operation

International Monetary Fund

, and plan training. II. E conomic and S ector W ork The Bank has completed a series of analytical work relating to: public sector capacity in the OECS including the Institutional and Organizational Capacity Review, the OECS Procurement Assessment Review, and the OECS Financial Accountability Assessment. In conjunction with the IMF, a Financial Sector Assessment Program (FSAP) was completed in early 2004, and a fiscal issues report, which includes a review of public expenditures in St. Lucia, was completed in 2005. The Bank also recently completed an OECS

International Monetary Fund

management of the overall project. The total project cost is US$2.6 million, of which the World Bank is providing US$1.45 million and the EU is providing US$0.58 million of grant financing. Economic and Sector Work : The Bank has completed a series of analytical work relating to: public sector capacity in the OECS including the Institutional and Organizational Capacity Review, the OECS Procurement Assessment Review, the OECS Financial Accountability Assessment and an Infrastructure Services Studies. In conjunction with the IMF, a Financial Sector Assessment Program

International Monetary Fund

managing the HIV/AIDS epidemic over the longer term. The Bank’s support to St. Vincent and the Grenadines under this project is for US$7.0 million. V. E conomic and S ector W ork The Bank has completed a series of analytical work relating to: public sector capacity in the OECS including the Institutional and Organizational Capacity Review, the OECS Procurement Assessment Review, the OECS Financial Accountability Assessment, and an Infrastructure Services Studies. In conjunction with the IMF, a Financial Sector Assessment Program (FSAP) was completed in early