CDB’s share at end-2010 was inflated partly by the EC$100 million disbursement made in 2010 to help facilitate the privatization of the former National Commercial Bank.
The fiscal balance numbers discussed in the assumptions reflect only that of central government, whereas the DSA includes both the central government and state-owned enterprises. The primary deficit for the consolidated public sector, that is, including both the central government and the state owned enterprises, is somewhat higher in the short-term reflecting increased capital spending by the electricity company and the International Airport Development Corporation.
The permanently lower GDP growth is calculated as the baseline level minus one standard deviation divided by the square root of the projection period.
The DSA uses policy-dependent external debt burden indicators. Policy performance is measured by the Country Policy and Institutional Assessment Index (CPIA), compiled annually by the World Bank, categorizing countries into three groups based on the quality of their macroeconomic policies (strong, medium, and poor). St. Vincent and the Grenadines is classified as a strong performer, with the thresholds on PV of debt-to-GDP, debt-to-exports, and debt-to-revenue of 50, 200 and 300 percent, respectively.
The project is expected to be completed by end-2013.