IMF says financial position stronger than ever
BASSETERRE, St. Kitts, CMC – The International Monetary Fund (IMF) says the economy of St. Kitts and Nevis is projected to recover and grow by two percent in 2013 and that despite a challenging economic environment, the overall fiscal position through end-March 2013 was stronger than expected.
The IMF issued a statement on Thursday following an April 20th to May 15th visit by an IMF mission to review recent economic developments and programme performance at the end of March, to assess progress in structural reforms and discuss economic policies and the outlook for 2013 and beyond.
“Economic activity for 2012 is now estimated to have contracted by 1.3 percent, reflecting sluggish construction and tourism sectors. Inflation continued to decline to 0 percent at end-March 2013,” said the IMF.
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