This 2007 Article IV Consultation highlights that macroeconomic outcomes for Antigua and Barbuda have strengthened significantly in recent years. Real GDP growth averaged 5 percent during 2003–05, and is estimated to have reached 12 percent in 2006. There has been progress in implementing broad structural reforms. On fiscal issues, the authorities intend to enhance revenue performance, including the introduction of a more flexible mechanism for retail fuel pricing in 2008. They also intend to improve the investment climate, reduce skill mismatches, exports, and deregulate telecommunications.
Describes progress in the inclusion of CACs in international sovereign bonds. Provides an update of efforts to broaden the consensus on the Principles. Reports on developments in recent sovereign debt restructuring cases. Discusses progress in the Evian Approach and other Paris Club issues. Provides a summary of the aforementioned paper on the determinants and prospects for regaining market access.