“Antigua and Barbuda’s economy has recovered from the extended crisis.”
Those were the words expressed by the Director of the Western Hemisphere Department of the International Monetary Fund, (IMF) Alejandro Werner, in a letter of congratulations to Prime Minister, Gaston Browne on his victory at the polls a week and a half ago.
In his letter, Director Werner the economic recovery reflects both significant policy efforts as well as a substantial increase in Citizenship-By-Investment revenues.
The Director in his congratulatory note pointed out that the country continues to face important challenges. Dealing with regional financial system developments and regional integration were key among the challenges the Director pointed out.
In Closing, Director Werner said, “I very much hope to maintain the constructive and fruitful dialogue we have with Antigua and Barbuda, and the IMF looks forward to working closely with you and your economic team in the period ahead.”
The congratulatory letter to Prime Minister Gaston Browne was also copied to Ms. Nancy Horsman, Executive Director of the International Monetary Fund.
The International Monetary Fund loaned the Government of Antigua and Barbuda EC$320 Million during the UPP administration. However, the loan, which was inherited by the ABLP, was repaid in full by the Gaston Browne administration on March 20th 2018.