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International Monetary Fund. Western Hemisphere Dept.
This IMF Staff Report for the 2016 Discussion on Common Policies of Eastern Caribbean Currency Union (ECCU) Member Countries highlights that the regional recovery in ECCU is gaining ground, supported by continued low oil prices, strong tourism arrivals, and robust citizenship-by-investment receipts. Risks to the near-term outlook are balanced, but growth in the ECCU continues to be hindered by weak competitiveness, banking sector fragilities, susceptibility to natural disasters, and large public debt. The Executive Directors have encouraged the authorities to press ahead with sound macroeconomic policies and structural reforms to decisively address these issues and strengthen the conditions for robust long term growth.
International Monetary Fund. Western Hemisphere Dept.

sectoral level, and within individual State Owned Enterprises (SOE). The CARTAC framework has been successful in driving reforms at the enterprise level, which is starting to be reflected in improved operating performance. For example, with Gravel and Concrete the company (under new management) has turned its operations around, focused on cost reductions, and is now generating cash profits from operations. Within the Housing Authority, the accounts have been reorganized according to profit centers with accountability on each operating unit to generate cash profits