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St Kitts and Nevis - Economy

Whitaker's Almanack Version

Financial Outlook

According to an IMF report on St Kitts and Nevis in July 2013, the islands’ authorities have made progress toward achieving the debt restructuring set for them by the IMF under a 36-month standby arrangement. A four-year contraction in economic activity is finally giving way to signs of improvement, the IMF said. The islands’ debt had mounted to the point where it was 170% of GDP and quite unsustainable. Over the near to medium term it will be important to accelerate the pace of structural reforms to further boost revenue and promote growth-enhancing public expenditure. The financial system has remained resilient, with adequate capitalization and continued deposit growth. Inflation declined from 2.9% at the end of 2011 to 1.9% in 2012. However, in 2013 it rose again to 3% and is expected to be around 2.5% in 2014. Real GDP growth for 2013 was 1.9% and is expected to rise to 3.2% in 2014.

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Further reading on St Kitts and Nevis

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