St. Lucia [electronic resource] : Debt Sustainability Analysis.
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TextSeries: IMF Staff Country Reports, Country Report ; No. 03/139Publication details: Washington, D.C. : International Monetary Fund, 2003Description: 1 online resource (6 p.)ISBN: 1451823223 :ISSN: 1934-7685Subject(s): Debt Ratio | External Debt | GDP Deflator | GDP Growth | Real GDP | St. LuciaAdditional physical formats: Print Version:: St. Lucia : Debt Sustainability AnalysisOnline resources: IMF e-Library | IMF Book Store Abstract: 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.
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.
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