St. Lucia:2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Lucia

Author: International Monetary Fund. Western Hemisphere Dept.

The St. Lucian economy is confronted with significant challenges from consecutive external shocks.

Volume/Issue: Volume 2022 Issue 348

Publication date: November 2022

ISBN: 9798400225772

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Topics covered in this book

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Finance , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , Industries - Hospitality Travel and Tourism , Natural Disasters , donor government , authorities of St , Lucia , CARTAC TA , debt sustainability outlook , financing constraint , Natural disasters , External sector statistics , Tourism , Global , Caribbean

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Summary

The St. Lucian economy is confronted with significant challenges from consecutive external shocks. While still recovering from the impact of the Covid-19 pandemic, which led to an output collapse in 2020 and 2021 mainly due to a halt in tourism, the war in Ukraine is adding inflation and balance of payments pressures given the dependence on fuel and food imports.