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International Monetary Fund. Western Hemisphere Dept.

On behalf of the authorities of St. Kitts and Nevis, we express gratitude to Mr. Bas Bakker and his team for constructive and candid discussions during the Article IV mission. Our authorities found the discussions timely and helpful and largely share staffs assessment and recommendations . The authorities are focused on building a strategy that will facilitate post pandemic recovery. They are especially committed to rebuilding the fiscal buffers that existed prior to the pandemic and to implementing the necessary fiscal and structural measures that are

International Monetary Fund

The authorities of St. Kitts and Nevis (SKN) thank the staff for a constructive set of meetings and a well-focused report that succinctly highlights the challenges facing the country, especially during this turbulent period for world financial markets and the global economy. The authorities also appreciate the efforts the staff has made in facilitating their request for Emergency Natural Disaster Assistance (ENDA). Most of the central issues facing SKN are common to the other small Caribbean islands, and have already been well-articulated in the ECCU

International Monetary Fund. Western Hemisphere Dept.
St. Kitts and Nevis entered the Covid-19 pandemic from a position of fiscal strength following nearly a decade of budget surpluses. A significant part of the large CBI revenues was prudently saved, reducing public debt below the regional debt target of 60 percent of GDP and supporting accumulation of large government deposits.
International Monetary Fund
The sharp global recession has been taking a toll on the St. Kitts and Nevis economy. The staff report examines the St. Kitts and Nevis 2009 Article IV Consultation and request for Emergency Natural Disaster Assistance. Economic activity has weakened markedly, particularly in tourism and foreign direct investment (FDI)-related construction, the drivers of growth in recent years. The drop-off in tourism receipts, FDI, and other capital flows could lead to a worsening of the balance-of-payments position.
International Monetary Fund
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.
International Monetary Fund. Western Hemisphere Dept.

, 2013, following discussions that ended on May 15, 2013, with the officials of St. Kitts and Nevis on economic developments and policies underpinning the IMF arrangement under the Stand-By Arrangement. Based on information available at the time of these discussions, the staff report was completed on July 8, 2013. A Press Release including a statement by the Chair of the Executive Board. The documents listed below have been or will be separately released. Letter of Intent sent to the IMF by the authorities of St. Kitts and Nevis* Memorandum of Economic and

International Monetary Fund

The sharp global recession has been taking a toll on the St. Kitts and Nevis economy. The staff report examines the St. Kitts and Nevis 2009 Article IV Consultation and request for Emergency Natural Disaster Assistance. Economic activity has weakened markedly, particularly in tourism and foreign direct investment (FDI)-related construction, the drivers of growth in recent years. The drop-off in tourism receipts, FDI, and other capital flows could lead to a worsening of the balance-of-payments position.

International Monetary Fund

discussions that ended on March 16, 2012 with the officials of St. Kitts and Nevis on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on May 4 2012. The views expressed in the staff report are those of the staff team and do not necessarily reflect the views of the Executive Board of the IMF. A press release. The documents listed below have been separately released. Letter of Intent sent to the IMF by the authorities of St. Kitts and Nevis * Memorandum of Economic and Financial

International Monetary Fund. Western Hemisphere Dept.

ended on October 5, 2012 with the officials of St. Kitts and Nevis on economic developments and policies. Based on information available at the time of these discussions, the staff report was completed on November 16, 2012. The views expressed in the staff report are those of the staff team and do not necessarily reflect the views of the Executive Board of the IMF. A Press Release. The document listed below is to be separately released. Letter of Intent sent to the IMF by the authorities of St. Kitts and Nevis* Memorandum of Economic and Financial Policies