This web page provides information about the work of the IMF in the ECCU and its member countries Antigua and Barbuda, Dominica,Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines, as well the activities of the Regional Representative Office.
At a Glance
- Antigua and Barbuda joined the Fund in February 25, 1982. The IMF Executive Board completed the Second and Third Review under the Stand-by arrangement on March 30, 2011
- Dominica joined the Fund on December 12, 1978
- Grenada joined the Fund on August 27, 1975.
- St. Kitts and Nevis joined the Fund on August 15, 1984
- St. Lucia joined the Fund on November 15, 1979. The IMF Executive Board approved US$8 million in Emergency Assistance for St. Lucia on January 12, 2011
- St. Vincent and the Grenadines joined the Fund on December 28, 1979. IMF Executive Board Approves US$3.26 Million Disbursement Under Rapid Credit Facility on February 28, 2011
- Anguilla and Montserrat are UK territories. Since 2009, the IMF includes the two territories in its regional policy consultation discussion. In addition, in 2011 the IMF staff will have bilateral discussions with Anguilla and Montserrat.
- Eastern Caribbean Currency Union. As in the case of the other three monetary unions in the world, since 2002 the IMF holds formal regional consultations with the ECCU.
Office Activities
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IMF statement on recent media reports concerning Barbados’ Financial Supervision
The IMF has a longstanding commitment to the Caribbean region. We provide support to country authorities’ efforts to strengthen financial sector regulation and supervision, including through the Caribbean Regional Technical Assistance Center. The IMF does not, however, make assessments of the financial position of individual firms nor entities. We would refer specific questions to the Barbados Financial Services Commission, which has recently issued a comprehensive statement.
December 20, 2017
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ECCU Countries -- Technical Assistance Reports by the IMF's Fiscal Affairs Department
June 2009 through June 2014
September 9, 2014
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CARTAC Technical Assistance Reports
July 2014
September 9, 2014
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Press Release; June 19, 2014
June 19, 2014
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Public Information Notice - April 1, 2013
April 1, 2013
IMF's Work on the Eastern Caribbean Currency Union
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St. Vincent and the Grenadines: Staff Concluding Statement of the 2024 Article IV Mission
May 8, 2024
An IMF staff team, led by Ms. Nan Geng, visited Kingstown during April 23 – May 7, 2024, for the 2024 Article IV consultation discussions on economic developments and macroeconomic policies.
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Saint Lucia: Technical Assistance Report-Report on External Sector Statistics Mission
May 6, 2024
Series:Technical Assistance Report No. 2024/036
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Dominica: Staff Concluding Statement of the 2024 Article IV Mission
March 14, 2024
An International Monetary Fund (IMF) staff team, led by Mr. Christopher Faircloth, visited Roseau and held discussions on the 2024 Article IV consultation with Dominica’s authorities during March 5–14. At the end of the consultation, the mission issued the following statement, which summarizes its main conclusions and recommendations.
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St. Lucia: 2023 Article IV Consultation-Press Release; and Staff Report
March 8, 2024
Series:Country Report No. 2024/068
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IMF Executive Board Concludes 2023 Article IV Consultation with St. Lucia
March 7, 2024
St. Lucia’s tourist-dependent economy has rebounded strongly after the Covid-19 pandemic and the commodity import price shock due to Russia’s war in Ukraine. Output is currently near the pre-pandemic level, while higher government revenue has narrowed the fiscal deficit. Similarly, with the recovery of tourism, the current account deficit declined from the pandemic peak of 16 percent of GDP in 2020 to an estimated 2 percent of GDP in 2022. Though declining, public debt remains much higher than before the pandemic. The banking sector has adequate liquidity and is profitable, but NPLs are elevated.