St. Kitts and Nevis: 2024 Article IV Consultation-Press Release and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2024 Issue 126

Publication date: May 2024

ISBN: 9798400274183

$20.00

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Money and Monetary Policy , International - Economics ,

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Summary

Delays in investment projects lowered growth to 3.4 percent in 2023 despite a solid rebound in tourism. Revenues from the citizenship by investment (CBI) program were 22 percent of GDP in 2023 which resulted in a small fiscal surplus and debt falling to 54 percent of GDP. Two large energy projects are at a planning stage but, if fully implemented, would shift the country’s energy mix entirely to renewables and significantly reduce the impact of changes in global commodity prices.