Government of St Kitts and Nevis has approved 2018 IMF Report Public Release

Source: SKNVibes
SAMSUNG CSC

In keeping with the principles of good governance and transparency, the Government of St Kitts and Nevis has authorized the release of the 2018 Article IV International Monetary Fund (IMF) Report. The Executive Board of the IMF therefore released the report on November 21, 2022, outlining the details of the Article IV consultation with St Kitts and Nevis concluded on September 14, 2018.

The report indicated that the “Directors acknowledged significant challenges, including those associated with declining Citizenship by Investment (CBI) inflows, financial sector vulnerabilities, tighter global financial conditions, and weather-related shocks. Against this background, Directors encouraged policies to safeguard macroeconomic and financial stability, together with reforms to strengthen competitiveness and foster inclusive growth.”It was noted that “absent any corrective policies, public debt is expected to increase over the medium term, as revenue from CBI receipts further declines.”

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