IMF Staff Country Reports

St. Kitts and Nevis: Recent Economic Developments

July 20, 1995

Preview Citation

Format: Chicago

St. Kitts and Nevis: Recent Economic Developments, (USA: International Monetary Fund, 1995) accessed November 24, 2024

Summary

This paper reviews economic developments in St. Kitts and Nevis during 1993–95. Economic performance was broadly satisfactory in 1993–94 with high real GDP growth, low inflation, and a favorable external position. Faced with increased external competition and reduced concessional aid flows, the government has pursued a development strategy aimed at diversifying the economy away from the sugar industry toward tourism-led activities. As a result, the tourism sector expanded rapidly, generating substantial employment opportunities and foreign exchange earnings, the economic structure being centered on service-oriented activities.

Subject: Commercial banks, Credit, Economic sectors, Exports, External debt, Financial institutions, International trade, Money, Public sector

Keywords: Balance of payments, Banking system, Broad money, Capital expenditure, Caribbean, Commercial banks, CR, Credit, Current account, Debt service, Exports, GDP, ISCR, Minimum wage, Net, Net credit, Private sector, Public enterprise, Public sector, Trade balance, U.S. dollar

Publication Details

  • Pages:

    64

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 1995/059

  • Stock No:

    1KNAEA0011995

  • ISBN:

    9781451821925

  • ISSN:

    1934-7685

Notes

This report on recent economic developments in St. Kitts and Nevis was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

You May Also Be Interested In...

Sierra Leone: Poverty Reduction and Growth Strategy

November 22, 2024

Sierra Leone: 2024 Article IV Consultation and Request for a 38-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Sierra Leone

November 22, 2024

Implementing Risk-Based Solvency for Insurers—Lessons from Kenya, Mexico, and South Africa

November 22, 2024

Bilateral Trade in Services and Exchange Rates: Evidence of Dominant Currency Pricing

November 22, 2024