IMF says overall fiscal position in St. Kitts Nevis stronger than expected

WASHINGTON, CMC – The International Monetary Fund (IMF) says that despite a “difficult economic environment,” the overall fiscal position of St. Kitts and Nevis through the end of September last year was “stronger than expected.” After undertaking the fifth review under the Stand-By Arrangement (SBA), the Washington-based financial institution said on Wednesday that the latest update on the twin-island federation was “due to buoyant non-tax revenue and lower-than-expected capital outlays.” An IMF mission, led by George Tsibouris visited St. Kitts and Nevis from January 21 to29, assessing recent economic developments and program performance, along with progress in structural reforms, and discussing policies and the outlook for 2013.