St. Lucia: Debt Sustainability Analysis

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 139

Publication date: May 2003

ISBN: 9781451823226

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Finance , Public Finance , ISCR , CR , dollar , GDP , debt ratio , GDP deflation , debt-creating flow , sustainability framework , dollar deflator , debt stock , revenue-to-GDP ratio , debt-to-revenue ratio , Real interest rates , Stress testing , Debt sustainability analysis

Also of interest

Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

This paper presents a debt sustainability analysis for St. Lucia. The medium-term scenario prepared by the IMF staff assumes continued fiscal consolidation and thus is compatible with sustainable debt levels even in the presence of adverse economic shocks. Stress tests show that stabilizing the debt/GDP ratio for the public sector at around the levels prevailing in 2002/03 would allow the absorption of economic shocks without generating unstable debt dynamics. Most temporary shocks would, however, shift the debt ratio upward, and further adjustment would be necessary to restore the preshock level.