ST. KITTS-ECONOMY-Government pleased with economic strategies to date

BASSETERRE, St. Kitts, CMC – Prime Minster Dr. Denzil Douglas says St. Kitts and Nevis has approached the challenge of debt-reduction by entering into in-depth, sustained, and ultimately successful negotiations with its creditors. He said his administration had also used a small portion of its assets to create a Special Purpose Vehicle capable of reducing the debt by nearly 50 per cent within a one year period. “We took this approach to debt-reduction as a means of encouraging and facilitating private sector growth,” Dr. Douglas said at the launch of the Caribbean Growth Forum, St. Kitts and Nevis Chapter.