St. Kitts and Nevis: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis

Volume/Issue: Volume 2021 Issue 236

Publication date: October 2021

ISBN: 9781513599151

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , authorities of St , Kitts and Nevis , CBI revenue , CBI revenue volatility , government target population , CBI program , lower-than-expected CBI receipts , COVID-19 , Loans , Caribbean , Western Hemisphere , Global

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Summary

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.