A CARTAC National Accounts technical assistance mission to St Kitts and Nevis, re-referenced the volume estimates of quarterly GDP for the years 2012-2022 using 2018 as the base and reference year from the previous 2006 base year. The series were developed for both Saint Kitts and for Nevis and...

This Selected Issues paper on St. Kitts and Nevis studies economic benefits from energy transition. Cheaper and more stable energy prices can support macroeconomic stability. In addition to the aforementioned effects, low and stable energy prices can mitigate the adverse impact from...

The 2024 Article IV Consultation with St. Kitts and Nevis discusses that despite a continued strong tourism performance, growth fell to 3.4 percent in 2023 due to delays in public and private sector investment projects. The economic outlook is positive thanks to the renewable energy projects...

This Selected Issues paper reviews anecdotal evidence on labor market conditions and discusses policy options to strengthen the labor market and support growth in St. Kitts and Nevis. The diagnosis of labor market conditions reveals challenges and opportunities in wages, productivity, and labor...

This 2023 Article IV Consultation discusses that St. Kitts and Nevis' economic growth rebounded strongly in 2022 despite global headwinds. GDP is estimated to have grown by 9 percent in 2022 after contracting 14.5 percent in 2020 and 0.9 percent in 2021. Return to the pre-pandemic activity level...

This technical assistance report on St. Kitts and Nevis highlights strengthening core business functions audit capacity (RTAT). In response to a request from the St. Kitts and Nevis Inland Revenue Division (IRD), Caribbean Regional Technical Assistance Centre provided capacity development (CD)...

Growth decelerated marginally in 2017, as the continued decline in CBI inflows slowed growth in construction. Consumer inflation was low, partly due to a small contraction in food prices. The overall fiscal balance remained in surplus but has deteriorated markedly since its 2013- peak, and the...

St. Kitts and Nevis entered the Covid-19 pandemic from a position of fiscal strength following nearly a decade of budget surpluses. A significant part of the large CBI revenues was prudently saved, reducing public debt below the regional debt target of 60 percent of GDP and supporting...

Under Action 14, countries have committed to implement a minimum standard to strengthen the effectiveness and efficiency of the mutual agreement procedure (MAP). The MAP is included in Article 25 of the OECD Model Tax Convention and commits countries to endeavour to resolve disputes related to...

Under BEPS Action 14, members of the OECD/G20 Inclusive Framework on BEPS have committed to implement a minimum standard to strengthen the effectiveness and efficiency of the mutual agreement procedure (MAP). The MAP is included in Article 25 of the OECD Model Tax Convention and commits...

Offshore Shore Centres (OFCs) are generally small, low tax jurisdictions. In defining International Financial Centers (IFC’s) the International Monetary Fund (IMF) notes that there must be a large number of financial institutions functioning in a simplified regulatory environment, with low or...

This 2017 Article IV Consultation highlights that the economic performance of St. Kitts and Nevis moderated in 2016. Growth moderated, reflecting the deceleration in tourism-linked sectors and contraction in manufacturing output, while still exceeding the average growth in the Eastern Caribbean...

This 2016 Article IV Consultation highlights that economy of St. Kitts and Nevis continued its strong growth at about 5 percent, recording the strongest growth in the region during 2013-15. Strong growth has been underpinned by construction and tourism sector activity and their favorable...

Economic Citizenship Programs (ECPs) have recently been proliferating, with large and potentially volatile inflows of investment and fiscal revenues generating significant benefits for small economies, but also posing substantial challenges. This paper discusses recent developments and...

Context and post-program performance: Macroeconomic conditions continued to improve, with the economy recording a second year of strong growth of about 6 percent, significantly higher than envisaged in the 9th Review. The fiscal balance has also been exceptionally strong, reflecting both robust...

This paper discusses St. Kitts and Nevis’ Ex Post Evaluation of Exceptional Access Under the 2011 Stand-by Arrangement. The program focused on (1) an ambitious fiscal consolidation, (2) a comprehensive debt restructuring, and (3) a further strengthening of the financial sector. These goals...

EXECUTIVE SUMMARY Stand-By Arrangement (SBA). On July 27, 2011, the Executive Board approved a 36-month SBA for St. Kitts and Nevis for SDR 52.51 million (590 percent of quota) to support the authorities’ program (Country Report No. 11/270). The first review was completed on January 25, 2012,...

KEY ISSUES Stand-By Arrangement (SBA): The 36-month SBA for SDR 52.51 million (590 percent of quota) was approved on July 27, 2011. The seventh and eighth reviews were completed on March 19, 2014, together with the 2014 Article IV consultation. The authorities plan to continue to treat the...

KEY ISSUES Stand-By Arrangement (SBA): the 36-month SBA for SDR 52.51 million (590 percent of quota) was approved July 27, 2011. The fifth and sixth reviews were completed July 24, 2013. Context and program performance: The economy is recovering from a four-year contraction through 2012, and...

Economic activity continued to shrink in St. Kitts and Nevis in 2012 on account of a sharp slowdown in the construction sector. Despite the sluggish global environment, the authorities have continued to successfully implement their economic program. Inflation has stabilized. The external...

Despite high levels of per capita incomes and good social service provision, poverty remains a persistent problem in St. Kitts and Nevis. To improve competitiveness, restore rapid economic growth, and ensure its medium-term sustainability in the context of the currency union, the main challenges...

The Second Review Under the Stand-By Arrangement with St. Kitts and Nevis highlights that economic activity continued to contract in 2011 while the current account balance improved and banks remained sound. All quantitative performance criteria for end-December 2011 were met, and the structural...

Economic activity is estimated to have softened below program expectations in January-March 2012, due to a continued contraction in the construction sector which dominated a relatively strong outturn in tourism. Despite this growth underperformance and the continued global uncertainty, the...

The staff report for St. Kitts and Nevis’ first review under the Stand-By Arrangement and the Financing Assurances Review is presented. Economic activity is estimated to have been flat in 2011, as continued weakness in the construction sector offset the moderate recovery in tourism and...

Following a two-year long recession, a gradual recovery of St. Kitts and Nevis’ highly indebted economy is under way. The government has shown remarkable resolve in pursuing fiscal consolidation. Notwithstanding the fiscal adjustment, a comprehensive and timely public debt restructuring is...

The sharp global recession has been taking a toll on the St. Kitts and Nevis economy. The staff report examines the St. Kitts and Nevis 2009 Article IV Consultation and request for Emergency Natural Disaster Assistance. Economic activity has weakened markedly, particularly in tourism and foreign...

The authorities announced a strategy to restore fiscal and debt sustainability, in conjunction with a transition out of sugar production. Discussions centered on restoring fiscal and debt sustainability, enhancing competitiveness and growth, and containing risks. However, policies need to be...

In this paper, statistical details are listed regarding the following: GDP by sector at constant and current prices, tourism data, indicators of agricultural production, wage rates of workers, number of workers in the social security by age group, retail price index, central government...

This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of the Federation of Saint Kitts and Nevis. The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of...

This 2006 Article IV Consultation highlights that despite the closure of the sugar industry, economic growth in St. Kitts and Nevis has accelerated. In 2006, the economy is estimated to have recorded its third consecutive year of strong growth, projected at 41⁄2 percent in 2006, with good...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country