Eastern Caribbean Currency Union: Staff Report for the 2005 Regional Discussions
IMF Staff Country Reports, August 26, 2005
Source details
- Canonical URL
- Eastern Caribbean Currency Union: Staff Report for the 2005 Regional Discussions
Other formats
Bibliographic details
- Published: August 26, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451811674.002
Summary
- This 2005 Article IV Consultation reports that economic activity in the Eastern Caribbean Currency Union (ECCU) accelerated since mid-2003 owing to an acceleration of activity in the tourism and construction sectors.
- Inflation has been stable.
- Monetary aggregates have been expanding rapidly, reflecting continued growth in the demand for money and confidence in the banking system and the quasi-currency board arrangement.
Economic activity
- Acceleration in activity since mid-2003 driven by:
- Tourism sector expansion.
- Construction sector expansion.
Inflation and monetary developments
- Inflation: stable (no numeric inflation rate provided in the source).
- Monetary aggregates: expanding rapidly, indicating:
- Growth in demand for money.
- Confidence in the banking system.
- Confidence in the quasi-currency board arrangement.
Fiscal stance and public debt
- Executive Directors urged:
- Strengthening fiscal consolidation.
- Lowering the debt ratios.
- Ensuring the consistency of fiscal policies with the currency board arrangement.
Scope and subjects covered
- The report addresses topics including: Banking; Economic sectors; Environment; Fiscal policy; Fiscal stance; Natural disasters; Public debt; Public sector; Tax incentives.
- Keywords associated with the report include: Caribbean, CR, debt, ECCU country, ECCU government, exchange rate, fiscal policy, Fiscal stance, Global, ISCR, labor market, Natural disasters, private sector, Public sector, public sector debt stock, U.S. dollar.
International Monetary Fund. "Eastern Caribbean Currency Union: Staff Report for the 2005 Regional Discussions", August 26, 2005.
Content in this bundle
- _cr05304 — Executive Summary and Staff Report Highlights