Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: 2024 Staff Report for the 2024 Article IV Consultation on Common Policies of Member Countries of the Eastern Caribbean Currency Union-Press Release and Staff Report
Author: International Monetary Fund. Western Hemisphere Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2024: Issue 093
Language:
English
Publication Date:
25 Apr 2024
DOI:
https://0-doi-org.library.svsu.edu/10.5089/9798400269196.002
ISBN:
9798400269196
ISSN:
1934-7685
Pages:
85
Keywords:
ECCU country; asset quality; ECCU member-country government; ECCU member country; CARTAC TA mission; Anti-money laundering and combating the financing of terrorism (AML/CFT); Credit bureaus; Credit; Caribbean; Global
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The 2024 Article IV Consultation with member countries on common policies of the Eastern Caribbean Currency Union (ECCU) discusses that the economies have registered a strong recovery after successive external shocks. Fiscal and external balances have improved, but public debt and current account deficits remain high. The financial system has been stable and liquid, although it continues to be confronted with asset quality weaknesses and rising risks in the non-bank financial sector. Longstanding structural challenges affecting private investment and employment create a drag on growth going forward. The regional priority is to rebuild buffers while protecting the fiscal space for priority public investment and social spending. Social policies and institutional labor market reforms would help improve competitiveness by addressing structural constraints to employment and labor productivity. Concerted efforts to address gaps in core economic data improve transparency and strengthen resource capacity for data collection would support calibration of economic policies.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund