St. Vincent and the Grenadines : 2012 Article IV Consultation.
International Monetary Fund. Western. Hemisphere Dept.
Bok Engelsk 2014 · Electronic books.
| Omfang | 1 online resource (75 pages)
|
|---|---|
| Utgave | 1st ed.
|
| Opplysninger | Cover -- CONTENTS -- CONTEXT -- BACKGROUND -- OUTLOOK AND RISKS -- POLICY ISSUES AND RECOMMENDATION -- A. Fiscal Policies: Continuing Fiscal Consolidation while Supporting Growth -- B. Containing Risks and Reducing Vulnerability in the Financial System -- C. Sustaining Growth and Improving Competitiveness -- OTHER ISSUES -- STAFF APPRAISAL -- BOXES -- 1. The Authorities' Progress with Building Climate Resilience -- 2. Pension Reform -- 3. Active Scenario: Additional Expenditure Measures -- FIGURES -- 1. Regional Comparison, 2007-11 -- 2. Fiscal Developments, 2000-11 -- 3. External Sector Indicators, 1996-2011 -- 4. Monetary Developments, 2001-11 -- 5. Banking System Vulnerabilities, 2003-12 -- TABLES -- 1. Selected Social and Economic Indicators, 2008-13 -- 2. Summary of Central Government Operations, 2008-17 (in millions of EC) -- 3. Summary of Central Government Operations, 2008-17 (in percent of GDP) -- 4. Balance of Payments Summary, 2008-17 -- 5. Monetary Survey, 2008-13 -- 6. Indicators of External and Financial Vulnerability, 2008-12 -- 7. Medium-Term Projections, 2008-17 -- ANNEXES -- I. Risk Assessment Matrix with Policy Actions -- II. External Sector Assessment -- III. Financial Performance of State-Owned Enterprises -- CONTENTS -- FUND RELATIONS -- RELATIONS WITH THE WORLD BANK GROUP -- RELATIONS WITH THE CARIBBEAN DEVELOPMENT BANK (CDB) -- STATISTICAL ISSUES.. - KEY ISSUES Background: Activity is slowly recovering after a cumulative decline of about 5 percent during 200810. Expansionary fiscal policieslargely to counteract the impact of the global slowdown and the two successive natural disastersled to a deterioration in fiscal balances, with public debt up by about 10½ percent of GDP over this period. The fiscal deficit, however, is expected to narrow this year, largely reflecting cuts in capital spending. In the financial sector, non performing loans remain above prudential guidelines; provisioning and profitability are low; and supervision remains weak. Policy Challenges: Further fiscal consolidationincluding by rebalancing government expenditure toward growth and employment generating public sector projectsis required to ensure medium-term sustained growth as well as keep public sector debt on a downward trajectory. In this regard, improving the efficiency of revenue collection and reducing current spendingespecially on the wage bill, which is high relative to revenueswill be crucial to allow the government to maneuver fiscal policy. Financial sector weaknesses also need to be addressed, including through strengthening of supervisory and regulatory standards, to promote effective financial intermediation that supports private sector growth. Structural reforms, including infrastructure enhancements and labor market reforms are critical to improve competitiveness and ensure medium-term growth and current account sustainability.
|
| Emner | |
| Sjanger | |
| Dewey | |
| ISBN | 9781498355605
|
| ISBN(galt) |
