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. Lucia: Staff Concluding Statement of the 2024 Article IV Mission
November 25, 2024
Growth is expected to pick up to 3.7 percent in 2024 on tourism expansion and revived construction activity and then moderate to 1.5 percent over the medium term. Both overall unemployment and youth unemployment have dropped to decade lows. A brief boost to growth will taper off, with growth moderating to a modest 1.5 percent toward the end of the medium term. Inflation, after peaking in 2022, is expected to fall to an estimated 1.3 percent in 2024, driven by lower utilities costs and deceleration in food prices. Inflation is expected to gradually rise to around 2 percent over the medium term. Staff assesses the external position in 2023 as broadly in line with the level implied by fundamentals and desirable policies. The current account deficit is projected to narrow further going forward, driven by tourism and lower fuel prices.
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Transcript of IMF Press Briefing
November 21, 2024
MS. KOZACK: Good morning, everyone. It's great to see you all here in person and online. Welcome to this IMF press briefing. My name is Julie Kozack. I'm the Director of Communications at the IMF.
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Grenada: Systemic Risk Monitoring
November 7, 2024
Author/Editor:Petr Jakubik
Series:High Level Summary Technical Assistance Report No. 2024/035 -
Grenada: Technical Assistance Report-Systemic Risk Monitoring
November 1, 2024
Series:Technical Assistance Report No. 2024/091
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Transcript of IMF Press Briefing
October 3, 2024
MS. KOZACK: Good morning, everyone. It is great to see you all here in person and online. Welcome to this IMF Press Briefing. I am Julie Kozack, Director of the Communications Department. As usual, this briefing is embargoed until 11:00 a.m. Eastern Time in the United States. I will start with some announcements and then take your questions in person on Webex and via the Press Center.
Regional Economic Outlook
October 25, 2024
After successfully weathering a series of shocks, most countries in the region are converging to their (tepid) potential. Growth is expected to moderate in late 2024 and 2025, while inflation is projected to continue easing, although gradually. With output gaps mostly closed and inflation near target in most cases, policies should be rebalanced. Fiscal consolidation should advance without delay to rebuild buffers while protecting priority public investment and social spending. Most central banks are well placed to proceed with monetary easing, striking a balance between fending off the risk of reemerging price pressures and avoiding an undue economic contraction. Over the medium-term, growth is expected to remain close to its low historical average, reflecting long-standing, unresolved challenges. Pressing on with structural reforms will be key to boost potential growth and raise living standards.
Read the Report