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Eastern Caribbean Currency Union: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 032
Language:
English
Publication Date:
28 Jan 2011
DOI:
https://doi.org/10.5089/9781455213894.002
ISBN:
9781455213894
ISSN:
1934-7685
Pages:
62
Keywords:
ISCR; CR; ECCU country; GDP; ECCU Tourism; debt; Tourism competitiveness vis-á-vis; composition analysis; public debt debt ratio; public-debt-to GDP ratio; ECCU group; Tourism; Budget planning and preparation; Civil service; Caribbean; Global
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The objective of this paper is to analyze the growth performance of the ECCU countries since independence and the policy challenges they face to ensure sustained growth in the period ahead. Although tourism specialization may bring about higher growth, it could also increase volatility in growth by amplifying the impact of business cycles in source countries on the tourism sector. Low productivity growth is principally the reason for the slowdown in growth. High debt levels have been a major drag on growth.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund