Antigua and Barbuda: 2025 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2025 Issue 096

Publication date: April 2025

ISBN: 9798229008129

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Topics covered in this book

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Exports and Imports , Finance , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , FSAP participation , financing option , exchange arrangement , compiling supply , transparency policy , Arrears , Credit bureaus , External sector statistics , Caribbean

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Summary

The 2025 Article IV Consultation highlights that Antigua and Barbuda’s post-pandemic economic expansion is continuing. Real output is estimated to have surpassed pre-pandemic levels in 2024, with growth estimated at 4.3 percent, driven by strong tourism and one-off events. The recovery in nominal gross domestic product (GDP), along with improved fiscal balances, brought down the public debt from around 100 percent of GDP in 2020 to 67 percent in 2024. However, gross financing needs are projected to remain around 10 percent of GDP in the medium term. Recent improvements in tax revenue are welcome, with further domestic revenue mobilization needed in the medium term to ensure fiscal sustainability. Antigua and Barbuda’s tax revenues remain below the authorities’ fiscal resilience guideline targets and are low by peer country standards. Targeted efforts to increase educational opportunities, employer-employee matching at the One Stop Employment Centre, and the completion of the Skills Demand Survey, are warranted.