Eastern Caribbean Currency Union: 2024 Staff Report for the 2024 Article IV Consultation on Common Policies of Member Countries of the Eastern Caribbean Currency Union-Press Release and Staff Report

April 25, 2024

Preview Citation

Format: Chicago

Eastern Caribbean Currency Union: 2024 Staff Report for the 2024 Article IV Consultation on Common Policies of Member Countries of the Eastern Caribbean Currency Union-Press Release and Staff Report, (USA: International Monetary Fund, 2024) accessed December 21, 2024

Summary

After successive external shocks—first, the pandemic and later higher commodity prices after Russia’s invasion of Ukraine—the region’s output has surpassed its pre-pandemic level boosted by a strong tourism rebound and investment. Inflation is moderating from its peak. Fiscal and external balances have improved, but public debt and current account deficits remain high. The financial system has been stable and liquid, although it continues to be confronted with asset quality weaknesses and rising risks in the non-bank financial sector. Longstanding structural challenges affecting private investment and employment create a drag on growth going forward. The region’s outlook is heavily dependent on uncertain Citizenshipby- Investment (CBI) inflows, and susceptible to volatility in commodity prices, a slowdown in major tourism source countries, and the recurrent threat of natural disasters.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Credit, Credit bureaus, Crime, Financial markets, International organization, Monetary policy, Money, Public debt

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asset quality, Caribbean, CARTAC TA mission, Credit, Credit bureaus, ECCU country, ECCU member country, ECCU member-country government, Global

Publication Details

Pages:

85
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2024/093
Stock No:

1ECCEA2024001
ISBN:

9798400269196
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports