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International Monetary Fund. Western Hemisphere Dept.

cover the period FY15-19. The high-level objective of the new RPS is to contribute to lay the foundations for sustainable inclusive growth, in line with the OECS governments’ priorities. In order to achieve this goal, the program is planned to be organized around three main areas of engagement. Under the first one, the WBG is planning to support “competitiveness”. Growth and job creation in the private sector will be supported both horizontally - by improving the business environment- and vertically - by focusing on specific sectors with a high potential to generate

International Monetary Fund. Western Hemisphere Dept.

November 13, 2014, the Executive Board of the World Bank Group endorsed the new OECS Regional Partnership Strategy (RPS) for FY15-19. The high-level objective of the new RPS is to contribute to lay the foundations for sustainable inclusive growth, in line with the OECS governments’ priorities. To achieve this goal, the program is organized around three main areas of engagement. In the first area, the WBG will support “competitiveness”. Growth and job creation in the private sector will be supported both horizontally—by improving the business environment—and vertically

International Monetary Fund. Western Hemisphere Dept.

, the Board of the Executive Directors of the World Bank Group has endorsed the new OECS Regional Partnership Strategy ((RPS) which will cover the period FY15-19. The high-level objective of the new RPS is to contribute to lay the foundations for sustainable inclusive growth, in line with the OECS governments’ priorities. In order to achieve this goal, the program is planned to be organized around three main areas of engagement. Under the first one, the WBG is planning to support “competitiveness”. Growth and job creation in the private sector will be supported both

International Monetary Fund. Western Hemisphere Dept.

public expenditure, fiscal and debt sustainability, growth and competitiveness, the financial sector, public sector management and social protection. The ongoing dissemination of these reports represents a key instrument for policy dialogue with the OECS governments, including St. Kitts and Nevis. The Bank’s program in St. Kitts and Nevis is further supported by a comprehensive series of analytical and advisory activities, including the following: “Towards a New Agenda for Growth” – OECS growth and competitiveness study (2005); An OECS Skills Enhancement Policy Note

International Monetary Fund

, public sector management, and social protection. The ongoing dissemination of these reports represents a key instrument for policy dialogue with the OECS governments, including St. Kitts and Nevis. The Bank’s program in St. Kitts and Nevis is further supported by a comprehensive series of completed, ongoing and planned analytical and advisory activities including the following: “Towards a New Agenda for Growth”—OECS growth and competitiveness study (2005); An OECS Skills Enhancement Policy Note (2006); a Caribbean Air Transport Report (2006); a regional study on

International Monetary Fund

by how closely the policies in the region conform to the agreed statements. Joint Overseas Representation 216. The OECS governments have made known their wish to establish offices abroad of joint representation, and thus benefit from the economies of scale. So far, a joint High Commission has been established in Ottawa, Canada (for the OECS members except Anguilla and the British Virgin Islands), and in Brussels, Belgium (for the OECS members except Anguilla, Antigua and Barbuda, Montserrat and Grenada). Negotiations are to be requested with the government

International Monetary Fund. Western Hemisphere Dept.

ongoing dissemination of these reports represents a key instrument for policy dialogue with the OECS governments, including St. Vincent and the Grenadines. In the context of the Support of Economic Management for the Caribbean (SEMCAR) program, a team is working with the authorities on an Action Plan for Customs improvements and has assessed the system by using the Customs Assessment Trade Toolkit (CATT). The CATT assessment measures 120 high level indicators which are combined and aggregated into seven intuitive dimensions: Process orientation, Strategic thinking

International Monetary Fund

governance and public expenditure management, regulatory reform of the financial sector and improved economic management. Protecting Human Capital . To improve the efficiency and effectiveness of social safety net programs, the Bank is supporting OECS governments in designing and implementing reform action plans under Economic and Social DPLs , the Dominica Growth and Social Protection Technical Assistance Credit , and the regional Social Safety Nets Non-Lending Technical Assistance which finances analysis, constituency building, action-planning and knowledge sharing

International Monetary Fund. Western Hemisphere Dept.
This 2014 Article IV Consultation highlights that Grenada’s economy continues to face significant headwinds after a decade of natural disasters and economic shocks coalesced into a deep economic crisis by 2011–2012. Economic activity declined by more than 8 percent of GDP from peak to trough (2008–2012) as tourism and construction collapsed. After almost four years of decline, real GDP grew by 1.5 percent in 2013. To address the fiscal crisis, the authorities have initiated fiscal adjustment as part of their 2014 budget, and have subsequently approved a large package of revenue measures needed for the targeted consolidation.
International Monetary Fund. Western Hemisphere Dept.

(As of February 10, 2017) World Bank Group OECS Regional Partnership Strategy : On November 13, 2014, the Board of the Executive Directors of the World Bank Group (WBG) endorsed the Regional Partnership Strategy (RPS) for the Organisation of Eastern Caribbean States (OECS) which covers the period FY15-19 (July 1, 2014 – June 30, 2019). The high-level objective of the RPS is to contribute to laying the foundations for sustainable inclusive growth, in line with the OECS governments’ priorities. In order to achieve this goal, the strategy is organized around three