Top News (7/24/2014)
IMF’s Deputy Managing Director and Acting Chair, Mr. Min Zhu
 
 
 
   
IMF Says Substantial Strides Made In St. Kitts And Nevis Economy, Post-Program Monitoring To Be Initiated
 
BASSETERRE, ST. KITTS, (CUOPM) – The Washington-based International Monetary Fund (IMF) says substantial strides have been made under St. Kitts and Nevis’ home-grown Fund-supported programme.

In a statement Tuesday, the IMF’s Deputy Managing Director and Acting Chair, Mr. Min Zhu said fiscal and debt sustainability have improved significantly, financial sector stability was preserved during a comprehensive debt restructuring exercise, and economic growth has rebounded strongly following a four-year recession.

He said as evidence of the strong turnaround, St. Kitts and Nevis repaid early a significant portion of its outstanding credit to the IMF and continues to treat the arrangement as precautionary.

“The fiscal outturn for end-March 2014 was consistent with programme objectives and the government is on track to achieve its end-year targets. The temporary accumulation of small external arrears was rapidly cleared and measures to prevent their recurrence have been taken,” the ...

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