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KEY 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.

Economic development -- Saint Vincent and the Grenadines. --- Economic indicators -- Saint Vincent and the Grenadines. --- Fiscal policy -- Saint Vincent and the Grenadines. --- International monetary fund -- Saint Vincent and the Grenadines. --- Business & Economics --- Economic History --- Saint Vincent and the Grenadines --- Economic conditions. --- St. Vincent and the Grenadines --- St. Vincent & the Grenadines --- St. Vincent --- St. Vincent en die Grenadines --- St. Vincent und d Grenadine --- Sant Vicent y as Granadinas --- Sant-Vincent-et-les Grenadenes --- Saint Vincent y les Granadines --- Saint Winsent wan Grenadinak --- Sent-Vinsent vä Qrenadina --- Sèng Vincent kap Grenadines --- Sent-Vinsent ḣăm Grenadindar --- Сент-Вінсент і Грэнадзіны --- Sent-Vinsent i Hrėnadziny --- San Vincente asin an Granadinas --- Сейнт Винсент и Гренадини --- Seĭnt Vinsent i Grenadini --- St. Vincent und de Grenadinen --- Sveti Vincent i Grenadini --- Sant Visant hag an Inizi Granadinas --- Сент-Винсент ба Гренадин --- Sent-Vinsent ba Grenadin --- Saint Vincent i les Grenadines --- Saint Vincent ug ang Grenadines --- Svatý Vincenc a Grenadiny --- Saint Vincent a'r Grenadines --- Saint Vincent og Grenadinerne --- St. Vincent und die Grenadinen --- Saint Vincent a Grenadiny --- Saint Vincent ja Grenadiinid --- Αγιος Βικέντιος και Γρεναδίνες --- Hagios Vikentios kai Grenadines --- San Vicente y las Granadinas --- Sankta Vincento kaj Grenadinoj --- San Vicenti i las Granainas --- Saint Vincent eta Grenadinak --- St. Vinsent og Grenadinoyggjar --- Saint-Vincent-et-les-Grenadines --- SVG --- Sint-Finsint en de Grenadinen --- San Uinseann agus na Greanáidíní --- Noo Winsen as ny Grenadeenyn --- Naomh Bhionsant agus Eileanan Greanadach --- St. Vincent agus na Grenadines --- San Vicente e Granadinas --- Сенвинсентин болн Гренадин Орн --- Senvinsentin boln Grenadin Orn --- Santa Vincent e Grenadini --- San Vicente ken dagiti Grenadito --- Saint Vincent dan Grenadine --- Sant Vincent e li Grenadines --- Сент-Винсент æмæ Гренадинтæ --- Sent-Vinsent æmæ Grenadintæ --- Sankti Vinsent og Grenadíneyjar --- Saint Vincent e Grenadine --- סנט וינסנט והגרנדינים --- Sanṭ Ṿinsenṭ ṿeha-Grendinim --- Saint Vincent lan Grenadines --- Sent-Vinsent zhăne Grenadinder --- Sen Vinsent ha'n Ynysow Grenadinek --- Mutagatifu Visenti na Gerenadine --- Saint Vincent na Grenadini --- Sen Vensan ak Grenadin --- Saint Vincent û giravên Grenadîn --- Sanctus Vincentius et Granatinae --- Sentvinsenta un Grenadīnas --- Saint Vincent an d'Grenadinnen --- Sent Vinsentas ir Grenadinai --- San Viçenço e Grenadinn-e --- Saint Vincent en de Grenadines --- Santu Vicent mpé Granadines --- San Vincenz e Grenadin --- Saint Vincent és a Grenadine-szigetek --- Свети Винцент и Гренадини --- Masina Vincent sy Grenadine --- Saint Vincent u l-Grenadini --- Saint Vincent dan Grenadines --- Séng Vincent gâe̤ng Grenadines --- San Vicente īhuān in Granadinas --- セントビンセント・グレナディーン --- Sentobinsento Gurenadīn --- Сент-Винсент а Гренадинаш а --- Sent-Vinsent a Grenadinash a --- St. Vincent an Grenadiinen --- Saint Vincent og Grenadinene --- Sankte Vinsent e li Grenadines --- Sant Vincenç e las Grenadinas --- Saint Vincent --- Economic history --- Fiscal policy --- Financial risk management --- Economic indicators --- Economic development --- International Monetary Fund --- E-books --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Business indicators --- Indicators, Business --- Indicators, Economic --- Leading indicators --- Quality of life --- Economic forecasting --- Index numbers (Economics) --- Social indicators --- Risk management --- Tax policy --- Taxation --- Finance, Public --- Economic conditions --- History, Economic --- Government policy --- Internationaal monetair fonds --- International monetary fund --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Industries: Financial Services --- Statistics --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Financial Institutions and Services: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- International economics --- Finance --- Public debt --- Financial sector --- Capital spending --- External debt --- Revenue administration --- Economic sectors --- Expenditure --- Debts, Public --- Debts, External --- Financial services industry --- Capital investments --- Revenue

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This paper contains a summary assessment of adherence to the Basel Core Principles for Effective Banking Supervision with respect to the offshore sector of St. Vincent and the Grenadines. The St. Vincent and the Grenadines Offshore Finance Authority Act, 1996, and the International Banks Act, 1996, set out the framework for offshore bank supervision in the jurisdiction. The Offshore Finance Authority (OFA) has reportedly enjoyed substantial operational independence. However, it is recommended to enhance OFA’s role and legal independence on matters such as the power to set prudential rules administratively.

Saint Vincent and the Grenadines --- St. Vincent and the Grenadines --- St. Vincent & the Grenadines --- St. Vincent --- St. Vincent en die Grenadines --- St. Vincent und d Grenadine --- Sant Vicent y as Granadinas --- Sant-Vincent-et-les Grenadenes --- Saint Vincent y les Granadines --- Saint Winsent wan Grenadinak --- Sent-Vinsent vä Qrenadina --- Sèng Vincent kap Grenadines --- Sent-Vinsent ḣăm Grenadindar --- Сент-Вінсент і Грэнадзіны --- Sent-Vinsent i Hrėnadziny --- San Vincente asin an Granadinas --- Сейнт Винсент и Гренадини --- Seĭnt Vinsent i Grenadini --- St. Vincent und de Grenadinen --- Sveti Vincent i Grenadini --- Sant Visant hag an Inizi Granadinas --- Сент-Винсент ба Гренадин --- Sent-Vinsent ba Grenadin --- Saint Vincent i les Grenadines --- Saint Vincent ug ang Grenadines --- Svatý Vincenc a Grenadiny --- Saint Vincent a'r Grenadines --- Saint Vincent og Grenadinerne --- St. Vincent und die Grenadinen --- Saint Vincent a Grenadiny --- Saint Vincent ja Grenadiinid --- Αγιος Βικέντιος και Γρεναδίνες --- Hagios Vikentios kai Grenadines --- San Vicente y las Granadinas --- Sankta Vincento kaj Grenadinoj --- San Vicenti i las Granainas --- Saint Vincent eta Grenadinak --- St. Vinsent og Grenadinoyggjar --- Saint-Vincent-et-les-Grenadines --- SVG --- Sint-Finsint en de Grenadinen --- San Uinseann agus na Greanáidíní --- Noo Winsen as ny Grenadeenyn --- Naomh Bhionsant agus Eileanan Greanadach --- St. Vincent agus na Grenadines --- San Vicente e Granadinas --- Сенвинсентин болн Гренадин Орн --- Senvinsentin boln Grenadin Orn --- Santa Vincent e Grenadini --- San Vicente ken dagiti Grenadito --- Saint Vincent dan Grenadine --- Sant Vincent e li Grenadines --- Сент-Винсент æмæ Гренадинтæ --- Sent-Vinsent æmæ Grenadintæ --- Sankti Vinsent og Grenadíneyjar --- Saint Vincent e Grenadine --- סנט וינסנט והגרנדינים --- Sanṭ Ṿinsenṭ ṿeha-Grendinim --- Saint Vincent lan Grenadines --- Sent-Vinsent zhăne Grenadinder --- Sen Vinsent ha'n Ynysow Grenadinek --- Mutagatifu Visenti na Gerenadine --- Saint Vincent na Grenadini --- Sen Vensan ak Grenadin --- Saint Vincent û giravên Grenadîn --- Sanctus Vincentius et Granatinae --- Sentvinsenta un Grenadīnas --- Saint Vincent an d'Grenadinnen --- Sent Vinsentas ir Grenadinai --- San Viçenço e Grenadinn-e --- Saint Vincent en de Grenadines --- Santu Vicent mpé Granadines --- San Vincenz e Grenadin --- Saint Vincent és a Grenadine-szigetek --- Свети Винцент и Гренадини --- Masina Vincent sy Grenadine --- Saint Vincent u l-Grenadini --- Saint Vincent dan Grenadines --- Séng Vincent gâe̤ng Grenadines --- San Vicente īhuān in Granadinas --- セントビンセント・グレナディーン --- Sentobinsento Gurenadīn --- Сент-Винсент а Гренадинаш а --- Sent-Vinsent a Grenadinash a --- St. Vincent an Grenadiinen --- Saint Vincent og Grenadinene --- Sankte Vinsent e li Grenadines --- Sant Vincenç e las Grenadinas --- Saint Vincent --- Economic conditions. --- Banks and Banking --- Finance: General --- Public Finance --- International Lending and Debt Problems --- Financial Institutions and Services: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Public Administration --- Public Sector Accounting and Audits --- Banking --- Financial services law & regulation --- Management accounting & bookkeeping --- Offshore financial centers --- Basel Core Principles --- Capital adequacy requirements --- Bank supervision --- Financial services --- Financial regulation and supervision --- External audit --- Public financial management (PFM) --- International finance --- Banks and banking --- State supervision --- Asset requirements --- Auditing

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This 2016 Article IV Consultation highlights that St. Vincent and the Grenadines’ recovery from the global financial crisis was hampered by a series of natural disasters, sluggish global demand, and slow implementation of key infrastructure projects. Economic activity appears to have recovered in 2015, led by strong tourism inflows and a rebound in construction. Inflation has trended down owing to falling food and fuel prices. The new airport, now foreseen for completion in 2016, is expected to sustain the near- and medium-term economic growth. Real GDP is projected to expand by 2.2 percent in 2016 and reach 3.1 percent over the medium term.

Economic development --- Fiscal policy --- Saint Vincent and the Grenadines --- Economic conditions. --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Development, Economic --- Economic growth --- Growth, Economic --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Government policy --- St. Vincent and the Grenadines --- St. Vincent & the Grenadines --- St. Vincent --- St. Vincent en die Grenadines --- St. Vincent und d Grenadine --- Sant Vicent y as Granadinas --- Sant-Vincent-et-les Grenadenes --- Saint Vincent y les Granadines --- Saint Winsent wan Grenadinak --- Sent-Vinsent vä Qrenadina --- Sèng Vincent kap Grenadines --- Sent-Vinsent ḣăm Grenadindar --- Сент-Вінсент і Грэнадзіны --- Sent-Vinsent i Hrėnadziny --- San Vincente asin an Granadinas --- Сейнт Винсент и Гренадини --- Seĭnt Vinsent i Grenadini --- St. Vincent und de Grenadinen --- Sveti Vincent i Grenadini --- Sant Visant hag an Inizi Granadinas --- Сент-Винсент ба Гренадин --- Sent-Vinsent ba Grenadin --- Saint Vincent i les Grenadines --- Saint Vincent ug ang Grenadines --- Svatý Vincenc a Grenadiny --- Saint Vincent a'r Grenadines --- Saint Vincent og Grenadinerne --- St. Vincent und die Grenadinen --- Saint Vincent a Grenadiny --- Saint Vincent ja Grenadiinid --- Αγιος Βικέντιος και Γρεναδίνες --- Hagios Vikentios kai Grenadines --- San Vicente y las Granadinas --- Sankta Vincento kaj Grenadinoj --- San Vicenti i las Granainas --- Saint Vincent eta Grenadinak --- St. Vinsent og Grenadinoyggjar --- Saint-Vincent-et-les-Grenadines --- SVG --- Sint-Finsint en de Grenadinen --- San Uinseann agus na Greanáidíní --- Noo Winsen as ny Grenadeenyn --- Naomh Bhionsant agus Eileanan Greanadach --- St. Vincent agus na Grenadines --- San Vicente e Granadinas --- Сенвинсентин болн Гренадин Орн --- Senvinsentin boln Grenadin Orn --- Santa Vincent e Grenadini --- San Vicente ken dagiti Grenadito --- Saint Vincent dan Grenadine --- Sant Vincent e li Grenadines --- Сент-Винсент æмæ Гренадинтæ --- Sent-Vinsent æmæ Grenadintæ --- Sankti Vinsent og Grenadíneyjar --- Saint Vincent e Grenadine --- סנט וינסנט והגרנדינים --- Sanṭ Ṿinsenṭ ṿeha-Grendinim --- Saint Vincent lan Grenadines --- Sent-Vinsent zhăne Grenadinder --- Sen Vinsent ha'n Ynysow Grenadinek --- Mutagatifu Visenti na Gerenadine --- Saint Vincent na Grenadini --- Sen Vensan ak Grenadin --- Saint Vincent û giravên Grenadîn --- Sanctus Vincentius et Granatinae --- Sentvinsenta un Grenadīnas --- Saint Vincent an d'Grenadinnen --- Sent Vinsentas ir Grenadinai --- San Viçenço e Grenadinn-e --- Saint Vincent en de Grenadines --- Santu Vicent mpé Granadines --- San Vincenz e Grenadin --- Saint Vincent és a Grenadine-szigetek --- Свети Винцент и Гренадини --- Masina Vincent sy Grenadine --- Saint Vincent u l-Grenadini --- Saint Vincent dan Grenadines --- Séng Vincent gâe̤ng Grenadines --- San Vicente īhuān in Granadinas --- セントビンセント・グレナディーン --- Sentobinsento Gurenadīn --- Сент-Винсент а Гренадинаш а --- Sent-Vinsent a Grenadinash a --- St. Vincent an Grenadiinen --- Saint Vincent og Grenadinene --- Sankte Vinsent e li Grenadines --- Sant Vincenç e las Grenadinas --- Saint Vincent --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Natural Disasters --- Industries: Financial Services --- Debt --- Debt Management --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- Fiscal Policy --- Climate --- Natural Disasters and Their Management --- Global Warming --- International Lending and Debt Problems --- Public finance & taxation --- Natural disasters --- International economics --- Banking --- Finance --- Public debt --- Revenue administration --- Fiscal stance --- External debt --- Environment --- Debts, Public --- Revenue --- Debts, External