SKNLP Chair Person and Constituency #2 Representative, Hon Marcella Liburd, says that recent International Monetary Fund (IMF) report that said St Kitts-Nevis is at a turning point where the twin island Federation has the opportunity to establish itself on a sustainable long-term growth pattern; serves as vindication of the SKNLP government policies and the visionary leadership of former Prime Minister Hon Dr Denzil L Douglas.
An IMF delegation has just ended a two week visit to the island and it said in order to achieve that goal, St Kitts-Nevis would have to make “difficult decisions and careful choices to preserve the hard-earned gains.
Judith Gold, who headed the mission, said macroeconomic conditions improved significantly over 2013 and 2014 and that the economy recorded two years of strong growth, averaging about six per cent annually, the strongest in the region by far.
She said employment expanded by 23 per cent over the two years, while inflation has remained low. Banks have remained stable following debt restructuring, although the NPL ratio significantly increased notably due to removing public sector loans from the total loan portfolio following the debt-for-land swap. Credit to the private sector is still sluggish, expanding by 0.5 per cent in 2014.
MP Liburd challenged that new government in regards to issues of transparency. Liburd explained that the IMF delegation at no time met with the opposite as was the norm under the SKNLP administration.
She noted that the SKNLP administration whilst in office organised for a press conference allowing the media to question Ms Gold.
Former Prime and SKNLP Leader Hon Dr Denzil Douglas also speaking on Freedom Fm’s “Issues” said that the people of St Kitts and Nevis should now be reaping the benefits of the debt restructuring policies. He however indicated that because of the new Team Unity administration programs like the PEP will soon not exist.