(ZIZ News) — Last week, the International Monetary Fund’s Deputy Director, Min Zhu, met with the Chamber of Industry and Commerce for a brief discussion ahead of the IMF Growth Forum in St. Kitts.
At the meeting, Prime Minister, the Honourable Dr. Timothy Harris said because of the technical assistance and support the IMF has consistently given to St. Kitts-Nevis, the country has been able to rely on that advice and support to weather many storms.
“Indeed much of the development which will take place going forward we are working closely in collaboration with the IMF, in a manner of speaking, to ensure that the policy prescriptions, by and large, will redound to the best benefit of the people of St. Kitts and Nevis,” he said.
Meanwhile, Deputy Director Zhu congratulated the Federation and told the gathering that the country can become, not only the champion of the region but of the world, because of its fiscal policies. He said the country has a strong economic performance.
“The forecast this year, St. Kitts-Nevis has a GDP growth rate of 5% which is very strong given globally, we just downgraded the economic global growth by 3.5/3.3%…given the sole Caribbean region the average growth rate is roughly 2.2, given the whole American and the Caribbean, the growth this year is 0.4% but a 5% GDP growth rate is fantastic,” he said.
Members of the IMF were here for two days of intense discussions on financial growth in the region.
The 2015 High Level Caribbean Forum addressed issues such as reducing energy cost, financing infrastructure and improving access to credit for the productive sector.