St. Kitts and Nevis: Fifth and Sixth Reviews Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion and Request for Waiver of Applicability; Staff Report; Press Release

This paper discusses St. Kitts and Nevis’ Fifth and Sixth Reviews Under the Stand-by Arrangement (SBA) and Request for Waiver of Nonobservance of Performance Criterion. All fiscal program targets were met through end-March 2013, partly owing to strong receipts from the Citizenship by Investment program. The structural benchmark on drafting a proposal for a comprehensive pension reform, scheduled for end-June 2013, has been delayed to allow for further deliberations. The IMF Staff supports the authorities’ request for the completion of the fifth and sixth reviews under the SBA and the waiver of applicability.