Country Report Organisation of Eastern Caribbean States 2nd Quarter 2018

Country Report Organisation of Eastern Caribbean States 2nd Quarter 2018

  • June 2018 •
  • Report ID: 1698486 •
  • Format: PDF

Outlook for 2018-19



  • The members of the Organisation of Eastern Caribbean States (OECS) will continue to enjoy broad political stability in 2018-19.
  • A recovery in economic activity will gather strength, supported by improved growth in the US, the main source of tourism demand for the region.
  • GDP growth will continue to be hindered by weak public finances and high levels of public debt, which will crowd out private investment.
  • OECS governments will continue to pursue fiscal consolidation, through commitments made under IMF programmes or to the UK government.
  • The 2018 hurricane season is beginning with many countries still recovering from the damage created by last year's harsh hurricane season.


Review



  • The UK government approved Anguilla's 2018 budget. The introduction of new taxes will be limited, although the government will undertake a number of structural reforms.
  • The prime minister of Antigua and Barbuda, Gaston Browne, was forced to remove the trade minister from the cabinet, owing to allegations that he received bribes.
  • Roosevelt Skerrit, the prime minister of Dominica, has announced that the rebuilding efforts-the island was struck by Hurricane Maria in September-are advancing at a considerable pace.
  • Grenada will hold a second referendum by year-end regarding the country's membership of the Caribbean Court of Justice.
  • Montserrat is set to return to the UN list of Non-Self-Governing Territories, as this would pressure the UK into providing greater economic assistance.
  • The St Kitts and Nevis government announced a number of fiscal stimulus measures that will be financed by an increase in revenue from the territory's Citizenship by Investment programme.
  • The government of St Lucia announced a multi-year programme to upgrade the country's infrastructure, which is expected to increase productivity and enhance competitiveness.
  • The St Vincent and the Grenadines government unveiled the creation of a new US$3 per room per night levy that will apply to hotel stays. Proceeds from the levy will finance a climate-change contingency fund.





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