Front Matter Page
Western Hemisphere Department
Authorized for distribution by Anthony R. Boote and Jorge P. Guzmán
Contents
I. Introduction
II. Fiscal Developments and Policy Issues
III. Fiscal Guidelines of the Eastern Caribbean Central Bank (ECCB)
A. Quantitative Guidelines
B. Structural Guidelines
IV. Debt Stabilization
V. Fiscal Sustainability
VI. Should Fiscal Guidelines Be Made Binding?
VII. Conclusion
Annexes
I. Sustainable Debt and Solvency
II. Statistical Annex
References
Boxes
1. The ECCB: Operations as Fiscal Agent
2. The WAEMU’S Convergence Criteria
Text Figures
1. Public Sector Deficit and Debt
2. Eastern Caribbean Currency Union (ECCU): Public sector Deficit and Debt, 1991–2002
3. Primary Balances
4. ECCU Members: Primary Balance: Actual Versus Debt Stabilizing 1991–2002
Text Tables
1. ECCU: Compliance with Proposed Fiscal Guidelines
2. ECCU:Quantitative Fiscal Gluidelines of the ECCB, Euroopean Union (EU), and West African Economic and Monetary (WAEMU)
3. ECCB’S Structural Fiscal Guidelines and the ECCU Implementation as of 2001
4. Maximum Sustainable Debt
Statistical Annex Tables
A1. ECCU: Selected Public Sector Fiscal Indicators by Region and Country, 1990–2002
A2. ECCU: Selected Central Government Fiscal Indicators by Region and Country, 1990–2002
A3. ECCU Region: Central Government Operations, 1990–2002
A4. ECCU:Central Government Revenue Indicators by Region and Country, 1990–2002
A5. ECCU: Central Government Expenditure Indicators by Region and Country 1990–2002
A.6. ECCU: Government and Government-Guaranteed Debt by Region and Country, 1990–200-
A.7. ECCU: Arrears by Region and Country, 1990–2001