St. Kitts and Nevis: Staff Concluding Statement of the 2021 Article IV Mission

Source: imf.org

Published: 6 July 2021

Washington, DC: On June 22, 2021 the virtual 2021 Article IV mission for St. Kitts and Nevis concluded.

‘The impact of the COVID-19 pandemic on St. Kitts and Nevis’ tourism-dependent economy has been severe, despite timely government actions that kept domestic infections in 2020 the lowest in the Western Hemisphere. A rebound in tourism should prompt a strong recovery from 2022 onward, but risks to the outlook are significant. Containing the pandemic and supporting the economy are near-term policy priorities. As the recovery takes hold, policy focus should shift to rebuilding fiscal buffers by resuming to save part of the Citizenship by Investment (CBI) revenues, preparing the financial system for exit from the temporary support measures and pursuing structural reforms to support productivity, economic competitiveness, and human capital’.

The Statement, which consists of preliminary findings from an official virtual visit to the nation is available in full here