St. Kitts and Nevis: Second Review Under the Stand-By Arrangement and the Financing Assurances Review, and Request for Waivers of Applicability: Staff Report and Press Release

July 24, 2012

Preview Citation

Format: Chicago

St. Kitts and Nevis: Second Review Under the Stand-By Arrangement and the Financing Assurances Review, and Request for Waivers of Applicability: Staff Report and Press Release, (USA: International Monetary Fund, 2012) accessed September 26, 2024

Summary

The Second Review Under the Stand-By Arrangement with St. Kitts and Nevis highlights that economic activity continued to contract in 2011 while the current account balance improved and banks remained sound. All quantitative performance criteria for end-December 2011 were met, and the structural benchmarks were completed. The authorities have made progress in a comprehensive debt restructuring, including a successful completion of the restructuring of bonds and external commercial debt on April 18, 2012, and agreement on a debt-land swap.

Subject: Asset and liability management, Credit, Debt restructuring, Debt service, External debt, Public debt, Revenue administration

Keywords: Caribbean, CR, Debt, Debt exchange offer, Debt restructuring, Debt service, ECCU debt target, Expenditure arrears, GDP, GDP deflator, Global, ISCR, Net, Par bond, Period debt stock, Short-term debt, SSMC debt, St. Kitts and Nevis authorities, St. Kitts and Nevis' IMF quota

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/196
Stock No:

1KNAEA2012002
ISBN:

9781475506150
ISSN:

1934-7685

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