LEADER 07219oam 22013814 450 001 9910814989103321 005 20240405053819.0 010 $a1-4843-7835-0 010 $a1-4983-6625-2 010 $a1-4983-5560-9 035 $a(CKB)2670000000568104 035 $a(EBL)1790707 035 $a(SSID)ssj0001398955 035 $a(PQKBManifestationID)11799571 035 $a(PQKBTitleCode)TC0001398955 035 $a(PQKBWorkID)11465179 035 $a(PQKB)11652647 035 $a(MiAaPQ)EBC1790707 035 $a(Au-PeEL)EBL1790707 035 $a(CaPaEBR)ebr10933652 035 $a(CaONFJC)MIL645390 035 $a(OCoLC)891446702 035 $a(IMF)1VCTEE2014001 035 $a(IMF)1VCTEA2014001 035 $a(EXLCZ)992670000000568104 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSt. Vincent and the Grenadines : $eStaff Report for the 2012 Article IV Consultation 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (75 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4983-0843-0 311 $a1-322-14135-5 327 $aCover; 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, 1996-2011 327 $a4. 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 Enterprises 327 $aCONTENTS FUND RELATIONS; RELATIONS WITH THE WORLD BANK GROUP; RELATIONS WITH THE CARIBBEAN DEVELOPMENT BANK (CDB); STATISTICAL ISSUES 330 3 $aKEY ISSUES Background: Activity is slowly recovering after a cumulative decline of about 5 percent during 2008?10. Expansionary fiscal policies?largely to counteract the impact of the global slowdown and the two successive natural disasters?led to a deterioration in fiscal balances, with public debt up by about 10½ percent of GDP over this period. The fiscal deficit, however, is expected to narrow this year, largely reflecting cuts in capital spending. In the financial sector, non performing loans remain above prudential guidelines; provisioning and profitability are low; and supervision remains weak. Policy Challenges: Further fiscal consolidation?including by rebalancing government expenditure toward growth and employment generating public sector projects?is required to ensure medium-term sustained growth as well as keep public sector debt on a downward trajectory. In this regard, improving the efficiency of revenue collection and reducing current spending?especially on the wage bill, which is high relative to revenues?will be crucial to allow the government to maneuver fiscal policy. Financial sector weaknesses also need to be addressed, including through strengthening of supervisory and regulatory standards, to promote effective financial intermediation that supports private sector growth. Structural reforms, including infrastructure enhancements and labor market reforms are critical to improve competitiveness and ensure medium-term growth and current account sustainability. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/251 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aIndustries: Financial Services$2imf 606 $aStatistics$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aNational Government Expenditures and Related Policies: Infrastructures$2imf 606 $aOther Public Investment and Capital Stock$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aTaxation, Subsidies, and Revenue: General$2imf 606 $aPublic finance & taxation$2imf 606 $aInternational economics$2imf 606 $aFinance$2imf 606 $aPublic debt$2imf 606 $aFinancial sector$2imf 606 $aCapital spending$2imf 606 $aExternal debt$2imf 606 $aRevenue administration$2imf 606 $aEconomic sectors$2imf 606 $aExpenditure$2imf 606 $aDebts, Public$2imf 606 $aDebts, External$2imf 606 $aFinancial services industry$2imf 606 $aCapital investments$2imf 606 $aRevenue$2imf 607 $aSaint Vincent and the Grenadines$xEconomic conditions 607 $aSt. Vincent and the Grenadines$2imf 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aIndustries: Financial Services 615 7$aStatistics 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aInternational Lending and Debt Problems 615 7$aFinancial Institutions and Services: General 615 7$aNational Government Expenditures and Related Policies: Infrastructures 615 7$aOther Public Investment and Capital Stock 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aTaxation, Subsidies, and Revenue: General 615 7$aPublic finance & taxation 615 7$aInternational economics 615 7$aFinance 615 7$aPublic debt 615 7$aFinancial sector 615 7$aCapital spending 615 7$aExternal debt 615 7$aRevenue administration 615 7$aEconomic sectors 615 7$aExpenditure 615 7$aDebts, Public 615 7$aDebts, External 615 7$aFinancial services industry 615 7$aCapital investments 615 7$aRevenue 676 $a338.9729844 801 0$bDcWaIMF 906 $aBOOK 912 $a9910814989103321 996 $aSt. Vincent and the Grenadines$94019359 997 $aUNINA