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International Monetary Fund. Statistics Dept.
A technical assistance (TA) mission on external sector statistics (ESS) was conducted to the Central Statistics Office (CSO) of Saint Lucia as part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on ESS. The mission focused on addressing data compilation issues on trade in goods—especially on the import and re-export of fuel—and travel credits and assessed the revised 2022 balance of payments that was disseminated in December 2023.
International Monetary Fund. Statistics Dept.
This paper presents the technical assistance report on remote national accounts mission in St. Lucia. The improved estimates will improve the understanding of the Saint Lucia economy, notably the needs of the Ministry of Finance for more robust and timely national accounts statistics. This development will also help Saint Lucia meet the IMF Special Data Dissemination Standards requirements. Training has been provided on the different components of Gross Domestic Product by expenditure (GDP-E) for current price methods and price and volume measurement. The mission identified some research topics for the national accounts department as part of its development of GDP-E. This includes checking the quality of some indicators and identifying whether some sources are available at a lower level of detail. The mission also quality assured the current methods used for compiling accommodation in the production measure of GDP. In order to support progress toward the objectives, the mission recommended priority recommendations to make headway in improving Saint Lucia’s national accounts.
International Monetary Fund. Western Hemisphere Dept.
This paper takes stock of St. Lucia’s plans to manage climate change, from the perspective of their macroeconomic implications, and suggests macro-relevant reforms that could strengthen the likelihood of success of the national strategy. To meet its renewable energy plans, St. Lucia will need to mobilize private investment. External assistance will be needed to develop supporting infrastructure. Building capacity for project assessment and investment promotion is a high priority, to shape needed investments into bankable projects. Elsewhere, capacity-building would be most useful to help cost sectoral plans, complete the disaster-preparedness strategy, move toward carbon taxation, and strengthen skills in public investment management and public financial management.
International Monetary Fund. External Relations Dept.
Tanzanian President Benjamin William Mkapa’s remarks on the inauguration of East AFRITAC could not have been clearer or more emphatic. If Africa is to define its own economic destiny, it must strengthen its ability to design and implement sound economic policies. And policy ownership and capacity building are what the new regional technical assistance center, which opened October 24 in Dar es Salaam, is all about.