Cover IMF Staff Country Reports
St. Lucia: Debt Sustainability Analysis
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2003: Issue 139
Language:
English
Publication Date:
23 May 2003
DOI:
https://doi.org/10.5089/9781451823226.002
ISBN:
9781451823226
ISSN:
1934-7685
Pages:
6
Keywords:
ISCR; CR; dollar; GDP; debt ratio; GDP deflation; debt-creating flow; sustainability framework; dollar deflator; debt stock; revenue-to-GDP ratio; debt-to-revenue ratio; Real interest rates; Stress testing; Debt sustainability analysis
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This paper presents a debt sustainability analysis for St. Lucia. The medium-term scenario prepared by the IMF staff assumes continued fiscal consolidation and thus is compatible with sustainable debt levels even in the presence of adverse economic shocks. Stress tests show that stabilizing the debt/GDP ratio for the public sector at around the levels prevailing in 2002/03 would allow the absorption of economic shocks without generating unstable debt dynamics. Most temporary shocks would, however, shift the debt ratio upward, and further adjustment would be necessary to restore the preshock level.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2003: Issue 139