IMF Staff Country Reports

Antigua and Barbuda: 2010 Article IV Consultation and Request for Stand-By Arrangement: Staff Report; Supplements; Public Information Notice; Press Release; and ED's Statement.

Publication Date:

September 7, 2010

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The global slowdown has severely affected Antigua and Barbuda’s economy through its impact on tourist arrivals, FDI inflows and remittances, and fiscal revenue. The recession and associated fiscal crisis coincides with already weak public finances and mounting problems in the financial sector. The authorities have taken decisive action to address the fiscal crisis and set the stage for a sustained recovery. The scope for restructuring public debt with domestic banks is limited, and financial sector reform is paramount.

Series:

Country Report No. 2010/279

Subject:

Arrears Asset and liability management Debt restructuring External debt Fiscal policy Fiscal stance Public debt