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On December 24, 2013, a tropical trough system impacted St. Vincent and the Grenadines. The heavy rains resulted in severe floods and landslides, with damages and losses estimated to be equivalent to about 15 percent of GDP. With most of the impact falling on infrastructure, including bridges, roads and hydroelectric facilities, emergency relief costs and rehabilitation and reconstruction expenses are opening a balance of payments gap in 2014.

Debts, Public -- Saint Vincent and the Grenadines. --- Fiscal policy -- Saint Vincent and the Grenadines. --- International Monetary Fund -- Saint Vincent and the Grenadines. --- International Monetary Fund. --- St. Vincent and the Grenadines

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This paper highlights St. Vincent and The Grenadines’ Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 (COVID-19) pandemic poses a major challenge to St. Vincent and the Grenadines. The tourism sector, a key driver of economic growth in the country, has come to a complete halt with ripple effects across the economy. The authorities have responded to the pandemic by swiftly implementing containment measures and a fiscal package, which includes an increase in funding for the health sector, various public construction projects to generate jobs, financial support to agriculture and fishery sector, and programs to support displaced workers and the most vulnerable. The authorities are committed to meeting the regional debt target of 60 percent of gross domestic product by 2030. Once the crisis has abated, they plan to reprioritize capital spending, contain the growth of the wage bill, enhance taxpayer compliance, and rationalize exemptions from import duties and value added tax on imports. IMF emergency support under the RCF will help fill St. Vincent and the Grenadines’ balance of payments needs. The IMF financing will also help catalyze additional donor support. The authorities are committed to ensuring transparency and good governance in the use of COVID-19-related spending.

COVID-19 Pandemic, 2020 --- -COVID-19 Pandemic, 2020 --- -Climate --- Communicable diseases --- Covid-19 --- Debt Management --- Debt --- Debts, External --- Debts, Public --- Diseases: Contagious --- Environment --- Exports and Imports --- External debt --- Fiscal Policy --- Fiscal policy --- Fiscal stance --- Global Warming --- Health Behavior --- Health --- Hospitality, leisure & tourism industries --- Industries: Hospital,Travel and Tourism --- Infectious & contagious diseases --- International economics --- International Lending and Debt Problems --- Macroeconomics --- Natural Disasters and Their Management --- Natural Disasters --- Natural disasters --- Public debt --- Public finance & taxation --- Public Finance --- Revenue administration --- Revenue --- Sovereign Debt --- Taxation, Subsidies, and Revenue: General --- St. Vincent and the Grenadines --- -St. Vincent and the Grenadines

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This Selected Issues paper analyzes macroeconomic fluctuations in the Eastern Caribbean Currency Union (ECCU). The paper describes data, along with the estimation technique used to ensure stationarity of the data. The empirical regularities of macroeconomic fluctuations in the ECCU are described, examining the relationship between a set of macroeconomic time series and domestic output, for each of the six IMF members of the ECCU. The paper also explores the determinants of macroeconomic volatility in the ECCU.

Exports and Imports --- Foreign Exchange --- Macroeconomics --- Taxation --- Emigration and Immigration --- Public Finance --- Taxation, Subsidies, and Revenue: General --- Fiscal Policy --- International Migration --- Insurance --- Insurance Companies --- Actuarial Studies --- Climate --- Natural Disasters and Their Management --- Global Warming --- International Investment --- Long-term Capital Movements --- Public finance & taxation --- International economics --- Migration, immigration & emigration --- Currency --- Foreign exchange --- Finance --- Tax incentives --- Migration --- Fiscal policy --- Fiscal stance --- Exchange rate arrangements --- Population and demographics --- Natural disasters --- Environment --- Emigration and immigration --- St. Vincent and the Grenadines

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This report analyzes economic developments in St. Vincent and the Grenadines in the first half of the 1990s. Real GDP increased at an average annual rate of 5 percent in 1988–93, reflecting sustained growth in most sectors except for agriculture and manufacturing, which showed some volatility. In 1993, economic growth slowed to 1.4 percent as a sharp decline in agricultural production and in manufacturing activity only partly offset growth in the construction and tourism sectors.

Banks and Banking --- Investments: Commodities --- Exports and Imports --- Money and Monetary Policy --- Industries: Financial Services --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Trade: General --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Agriculture: General --- Banking --- International economics --- Monetary economics --- Investment & securities --- Finance --- Commercial banks --- Exports --- Credit --- Agricultural commodities --- Loans --- Financial institutions --- International trade --- Commodities --- Money --- Banks and banking --- Farm produce --- St. Vincent and the Grenadines

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Despite the impact of Hurricane Ivan, the economic activity of St. Vincent and the Grenadines has strengthened. Executive Directors welcomed the developments and the tax policy aimed to broaden the tax base and reduce concessions. They appreciated the home-grown Interim Poverty Reduction Strategy Paper aimed for reducing poverty. They urged to strengthen financial sector supervision and advised to seek greater regional cooperation. They also emphasized the need to accelerate growth, structural reforms, and reduce poverty, while restoring fiscal and external viability and reducing the debt.

Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- Public Enterprises --- Public-Private Enterprises --- International Lending and Debt Problems --- National Government Expenditures and Related Policies: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Public finance & taxation --- Civil service & public sector --- International economics --- Banking --- Public debt --- Public sector --- External debt --- Expenditure --- Capital spending --- Economic sectors --- Debts, Public --- Finance, Public --- Debts, External --- Expenditures, Public --- Capital investments --- St. Vincent and the Grenadines