IMF Praises Antigua and Barbuda’s Fiscal Turnaround

The International Monetary Fund has given a positive assessment of Antigua and Barbuda’s economic performance, endorsing the government’s recent fiscal management.

Prime Minister and Finance Minister Gaston Browne said international financial partners expressed satisfaction with the country’s economic direction during a high-level meeting last week. Representatives from the Caribbean Development Bank also highlighted what they described as a significant turnaround in public finances over the past three years.

Mr Browne said Antigua and Barbuda has moved away from persistent fiscal deficits and is now showing steady progress, backed by improving macroeconomic indicators. He noted that the IMF’s latest report praised stronger fiscal discipline, economic stability and continued growth.

The IMF has projected economic growth of about three percent, lower than the government’s forecast of at least five percent but still ahead of many Caribbean economies.

Debt levels have also fallen sharply, with debt-to-GDP reduced from more than 100 percent to around 67 percent, and further declines expected. Inflation has eased and fiscal surpluses have been recorded in several areas.

However, Mr Browne acknowledged that long-standing liabilities, including Paris Club debt, remain unresolved. He said that despite these challenges, key indicators point to an economy performing well by international standards.

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