St Kitts & Nevis get good rating from the IMF

2009-06-09 00:48:43 by

The Washington-based International Monetary Fund (IMF) said Monday that while the global downturn and heavy debt burden are likely to weigh heavily on near-term growth, the economy of St Kitts and Nevis is well placed to achieve strong growth over the medium term, provided that the authorities continue to implement appropriate policies and press ahead with the reform agenda.

The Washington-based International Monetary Fund (IMF) said Monday that while the global downturn and heavy debt burden are likely to weigh heavily on near-term growth, the economy of St Kitts and Nevis is well placed to achieve strong growth over the medium term provided that the authorities continue to implement appropriate policies and press ahead with the reform agenda. Thus, after growing by 3.2 percent in 2008, St Kitts and Nevis? real output is projected to contract by 1.2 percent in 2009.

IMF Directors encouraged the authorities to tighten oversight of the broader public sector; work closely with donors to tap additional grants or highly concessional loans; accelerate land and/or other asset sales to lower debt more rapidly; and strengthen debt management capacity.

Read the full article at Caribbean Net News.