07219oam 22013814 450 991081498910332120240405053819.01-4843-7835-01-4983-6625-21-4983-5560-9(CKB)2670000000568104(EBL)1790707(SSID)ssj0001398955(PQKBManifestationID)11799571(PQKBTitleCode)TC0001398955(PQKBWorkID)11465179(PQKB)11652647(MiAaPQ)EBC1790707(Au-PeEL)EBL1790707(CaPaEBR)ebr10933652(CaONFJC)MIL645390(OCoLC)891446702(IMF)1VCTEE2014001(IMF)1VCTEA2014001(EXLCZ)99267000000056810420020129d2014 uf 0engurcnu||||||||txtccrSt. Vincent and the Grenadines : Staff Report for the 2012 Article IV Consultation1st ed.Washington, D.C. :International Monetary Fund,2014.1 online resource (75 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4983-0843-0 1-322-14135-5 Cover; CONTENTS; CONTEXT; BOXES; 1. The Authorities'' Progress with Building Climate Resilience; BACKGROUND; OUTLOOK AND RISKS; POLICY ISSUES AND RECOMMENDATION; A. Fiscal Policies: Continuing Fiscal Consolidation while Supporting Growth; 2. Pension Reform; B. Containing Risks and Reducing Vulnerability in the Financial System; 3. Active Scenario: Additional Expenditure Measures; C. Sustaining Growth and Improving Competitiveness; OTHER ISSUES; STAFF APPRAISAL; FIGURES; 1. Regional Comparison, 2007-11; 2. Fiscal Developments, 2000-11; 3. External Sector Indicators, 1996-20114. Monetary Developments, 2001-115. 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 EnterprisesCONTENTS FUND RELATIONS; RELATIONS WITH THE WORLD BANK GROUP; RELATIONS WITH THE CARIBBEAN DEVELOPMENT BANK (CDB); STATISTICAL ISSUESKEY ISSUES Background: Activity is slowly recovering after a cumulative decline of about 5 percent during 2008–10. Expansionary fiscal policies—largely to counteract the impact of the global slowdown and the two successive natural disasters—led 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 consolidation—including by rebalancing government expenditure toward growth and employment generating public sector projects—is 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 spending—especially on the wage bill, which is high relative to revenues—will 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.IMF Staff Country Reports; Country Report ;No. 2014/251Banks and BankingimfExports and ImportsimfMacroeconomicsimfPublic FinanceimfIndustries: Financial ServicesimfStatisticsimfDebtimfDebt ManagementimfSovereign DebtimfInternational Lending and Debt ProblemsimfFinancial Institutions and Services: GeneralimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfTaxation, Subsidies, and Revenue: GeneralimfPublic finance & taxationimfInternational economicsimfFinanceimfPublic debtimfFinancial sectorimfCapital spendingimfExternal debtimfRevenue administrationimfEconomic sectorsimfExpenditureimfDebts, PublicimfDebts, ExternalimfFinancial services industryimfCapital investmentsimfRevenueimfSaint Vincent and the GrenadinesEconomic conditionsSt. Vincent and the GrenadinesimfBanks and BankingExports and ImportsMacroeconomicsPublic FinanceIndustries: Financial ServicesStatisticsDebtDebt ManagementSovereign DebtInternational Lending and Debt ProblemsFinancial Institutions and Services: GeneralNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockBanksDepository InstitutionsMicro Finance InstitutionsMortgagesTaxation, Subsidies, and Revenue: GeneralPublic finance & taxationInternational economicsFinancePublic debtFinancial sectorCapital spendingExternal debtRevenue administrationEconomic sectorsExpenditureDebts, PublicDebts, ExternalFinancial services industryCapital investmentsRevenue338.9729844DcWaIMFBOOK9910814989103321St. Vincent and the Grenadines4019359UNINA