Abstract
ST. VINCENT AND THE GRENADINES
Title page
ST. VINCENT AND THE GRENADINES
STAFF REPORT FOR THE 2022 ARTICLE IV CONSULTATION—INFORMATIONAL ANNEX
October 28, 2022
Prepared By
The Western Hemisphere Department
Contents
FUND RELATIONS
RELATIONS WITH OTHER FINANCIAL INSTITUTIONS
STATISTICAL ISSUES
Fund Relations
(As of September 30, 2022)
| Membership Status: | Joined: December 28, 1979; Article VIII | |
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 11.70 | 100.00 |
| Fund holdings of currency | 11.20 | 95.73 |
| Reserve Tranche Position | 0.50 | 4.27 |
| SDR Department: | SDR Million | Percent of Allocation |
| Net cumulative allocation | 19.13 | 100.00 |
| Holdings | 10.84 | 56.69 |
| Outstanding Purchases and Loans: | SDR Million | Percent of Quota |
| RCF Loans | 20.70 | 176.94 |
| Membership Status: | Joined: December 28, 1979; Article VIII | |
| General Resources Account: | SDR Million | Percent of Quota |
| Quota | 11.70 | 100.00 |
| Fund holdings of currency | 11.20 | 95.73 |
| Reserve Tranche Position | 0.50 | 4.27 |
| SDR Department: | SDR Million | Percent of Allocation |
| Net cumulative allocation | 19.13 | 100.00 |
| Holdings | 10.84 | 56.69 |
| Outstanding Purchases and Loans: | SDR Million | Percent of Quota |
| RCF Loans | 20.70 | 176.94 |
Latest Financial Arrangements: None
Outright Loans:
| Type | Date of Commitment | Date Drawn/Expired | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| RCF | Jul 01, 2021 | Jul 07, 2021 | 8.17 | 8.17 |
| RCF | May 20, 2020 | May 22, 2020 | 11.70 | 11.70 |
| RCF | Aug 01, 2014 | Aug 12, 2014 | 2.08 | 2.08 |
| Type | Date of Commitment | Date Drawn/Expired | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
| RCF | Jul 01, 2021 | Jul 07, 2021 | 8.17 | 8.17 |
| RCF | May 20, 2020 | May 22, 2020 | 11.70 | 11.70 |
| RCF | Aug 01, 2014 | Aug 12, 2014 | 2.08 | 2.08 |
Projected Payments to the Fund1
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 0.42 | 0.42 | 1.17 | 2.34 | |
| Charges/Interest | 0.04 | 0.17 | 0.17 | 0.17 | 0.17 |
| Total | 0.04 | 0.58 | 0.58 | 1.34 | 2.51 |
| Forthcoming | |||||
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Principal | 0.42 | 0.42 | 1.17 | 2.34 | |
| Charges/Interest | 0.04 | 0.17 | 0.17 | 0.17 | 0.17 |
| Total | 0.04 | 0.58 | 0.58 | 1.34 | 2.51 |
| Implementation of HIPC Initiative: | Not Applicable |
| Implementation of Multilateral Debt Relief Initiative (MDRI): | Not Applicable |
| Implementation of Catastrophe Containment and Relief (CCR): | Not Applicable |
| Implementation of HIPC Initiative: | Not Applicable |
| Implementation of Multilateral Debt Relief Initiative (MDRI): | Not Applicable |
| Implementation of Catastrophe Containment and Relief (CCR): | Not Applicable |
Exchange Arrangements: The exchange rate arrangement is a currency board. St. Vincent and the Grenadines participates in a currency union with seven other members of the Eastern Caribbean Currency Union and has no separate legal tender. The Eastern Caribbean Central Bank (ECCB) manages monetary policy and the exchange system for its eight members. The common currency, the Eastern Caribbean dollar, has been pegged to the U.S. dollar at the rate of EC$2.70 per U.S. dollar since July 1976. St. Vincent and the Grenadines has accepted the obligations of Article VIII, Sections 2(a), 3 and 4, and maintains an exchange system that is free of restrictions on the making of payments and transfers for current international transactions and multiple currency practices.
Safeguards Assessment: An update safeguards assessment of the ECCB, finalized in August 2021, found strong external audit and financial reporting practices that continue to be aligned with international standards, and further improvement in the capacity of the internal audit function. Legal reforms were recommended to further strengthen operational autonomy of the ECCB and align its Agreement Act with leading practices. The issuance of digital currency (DCash) introduced new risks that require additional control and oversight, including strengthening the related project-governance framework.
Article IV Consultation: St. Vincent and the Grenadines is on a 12-month cycle. The last Article IV consultation was concluded on February 15, 2019, by the Executive Board: Country Report 19/66.
Technical Assistance: Several missions from MCM, FAD, STA, supported by the Caribbean Regional Technical Assistance Centre (CARTAC), have visited the country. Below the compilation of the TA delivered from 2019–22.
St. Vincent and the Grenadines: Fund Technical Assistance, 2019–22
St. Vincent and the Grenadines: Fund Technical Assistance, 2019–22
| Start date | End date | Mission description |
|---|---|---|
| Jan. 28, 2019 | Feb. 01, 2019 | Quarterly GDP current price estimates |
| May 15, 2019 | May 19, 2019 | Customs administration - strengthen risk management capacity and develop a trusted trader program |
| Jul. 15, 2019 | Jul. 26, 2019 | Arrears management and returns processing |
| Aug. 26, 2019 | Aug. 31, 2019 | BOP/IIP - enhance source data |
| Sep. 16, 2019 | Sep. 27, 2019 | Consumer prices - review the HBS data |
| Oct. 7, 2019 | Oct. 9, 2019 | Development of the regional government securities market |
| Oct. 7, 2019 | Oct. 18, 2019 | National accounts statistics - compilation of SUT |
| Dec. 16, 2020 | Jan. 8, 2021 | Fiscal Responsibility Framework |
| Jan. 20, 2020 | Jan. 24, 2020 | Preparation of an annual borrowing plan |
| Jan. 27, 2020 | Jan. 31, 2020 | Customs administration – strengthening risk management |
| Mar. 18, 2021 | Mar. 31, 2021 | (Virtual mission) National accounts - rebasing of GDP |
| Mar. 22, 2021 | Mar. 26, 2021 | Customs administration - WAH strengthening risk management and PCA |
| May 1, 2021 | Apr. 30, 2022 | (Virtual mission) St Vincent and the Grenadines - LTX desk work |
| May 3, 2021 | Aug. 31, 2021 | FY21 St. Vincent and the Grenadines real sector - national accounts |
| May 25, 2021 | Jun. 28, 2021 | Strengthening HQ functions – Client Relations Management (CRM) Program for large and medium taxpayers |
| Jun. 7, 2021 | Jun. 11, 2021 | Customs administration - review of customs law |
| Sep. 1, 2021 | Jan. 31, 2022 | Strengthening the Fiscal Responsibility Framework FY22 |
| Oct. 1, 2021 | Oct. 29, 2021 | (Virtual mission) Strengthening SOEs FY22 |
| Oct. 18, 2021 | Oct. 29, 2021 | (Virtual mission) Strengthening customs control of petroleum imports |
| Oct. 25, 2021 | Oct. 29, 2021 | (Virtual mission) Customs administration - developing performance targets and KPI |
| Nov. 8, 2021 | Nov. 12, 2021 | (Virtual mission) BOP/IIP - improve source data |
| Dec. 13, 2021 | Mar. 31, 2022 | (Virtual mission) Bank reconciliation FY22 |
| Jan. 17, 2022 | Apr. 29, 2022 | (Virtual mission) Support IPSAS compliance FY22 |
| Mar. 4, 2022 | Mar. 15, 2022 | (Virtual mission) Implementation of risk-based supervision across non-banks, follow-up mission |
| Apr. 25, 2022 | Apr. 29, 2022 | (Virtual mission) Customs administration - strengthening customs control of petroleum imports |
| Mar. 28, 2022 | Apr. 13, 2022 | (Virtual mission) Customs administration - developing performance targets and KPI |
| Jul. 11, 2022 | Jul. 22, 2022 | (Virtual mission) Customs administration - review of customs law |
| Jul. 18, 2022 | Jul. 29, 2022 | Customs administration - strengthening customs control of petroleum imports |
| Sep. 5, 2022 | Oct. 4, 2022 | Support to internal audit FY23 |
| Sep. 19, 2022 | Sep. 23, 2022 | BOP/IIP - improve source data |
St. Vincent and the Grenadines: Fund Technical Assistance, 2019–22
| Start date | End date | Mission description |
|---|---|---|
| Jan. 28, 2019 | Feb. 01, 2019 | Quarterly GDP current price estimates |
| May 15, 2019 | May 19, 2019 | Customs administration - strengthen risk management capacity and develop a trusted trader program |
| Jul. 15, 2019 | Jul. 26, 2019 | Arrears management and returns processing |
| Aug. 26, 2019 | Aug. 31, 2019 | BOP/IIP - enhance source data |
| Sep. 16, 2019 | Sep. 27, 2019 | Consumer prices - review the HBS data |
| Oct. 7, 2019 | Oct. 9, 2019 | Development of the regional government securities market |
| Oct. 7, 2019 | Oct. 18, 2019 | National accounts statistics - compilation of SUT |
| Dec. 16, 2020 | Jan. 8, 2021 | Fiscal Responsibility Framework |
| Jan. 20, 2020 | Jan. 24, 2020 | Preparation of an annual borrowing plan |
| Jan. 27, 2020 | Jan. 31, 2020 | Customs administration – strengthening risk management |
| Mar. 18, 2021 | Mar. 31, 2021 | (Virtual mission) National accounts - rebasing of GDP |
| Mar. 22, 2021 | Mar. 26, 2021 | Customs administration - WAH strengthening risk management and PCA |
| May 1, 2021 | Apr. 30, 2022 | (Virtual mission) St Vincent and the Grenadines - LTX desk work |
| May 3, 2021 | Aug. 31, 2021 | FY21 St. Vincent and the Grenadines real sector - national accounts |
| May 25, 2021 | Jun. 28, 2021 | Strengthening HQ functions – Client Relations Management (CRM) Program for large and medium taxpayers |
| Jun. 7, 2021 | Jun. 11, 2021 | Customs administration - review of customs law |
| Sep. 1, 2021 | Jan. 31, 2022 | Strengthening the Fiscal Responsibility Framework FY22 |
| Oct. 1, 2021 | Oct. 29, 2021 | (Virtual mission) Strengthening SOEs FY22 |
| Oct. 18, 2021 | Oct. 29, 2021 | (Virtual mission) Strengthening customs control of petroleum imports |
| Oct. 25, 2021 | Oct. 29, 2021 | (Virtual mission) Customs administration - developing performance targets and KPI |
| Nov. 8, 2021 | Nov. 12, 2021 | (Virtual mission) BOP/IIP - improve source data |
| Dec. 13, 2021 | Mar. 31, 2022 | (Virtual mission) Bank reconciliation FY22 |
| Jan. 17, 2022 | Apr. 29, 2022 | (Virtual mission) Support IPSAS compliance FY22 |
| Mar. 4, 2022 | Mar. 15, 2022 | (Virtual mission) Implementation of risk-based supervision across non-banks, follow-up mission |
| Apr. 25, 2022 | Apr. 29, 2022 | (Virtual mission) Customs administration - strengthening customs control of petroleum imports |
| Mar. 28, 2022 | Apr. 13, 2022 | (Virtual mission) Customs administration - developing performance targets and KPI |
| Jul. 11, 2022 | Jul. 22, 2022 | (Virtual mission) Customs administration - review of customs law |
| Jul. 18, 2022 | Jul. 29, 2022 | Customs administration - strengthening customs control of petroleum imports |
| Sep. 5, 2022 | Oct. 4, 2022 | Support to internal audit FY23 |
| Sep. 19, 2022 | Sep. 23, 2022 | BOP/IIP - improve source data |
FSAP: A joint IMF/World Bank team assessed the financial sector of the ECCU member countries in two missions: September 1–19 and October 20–31, 2003. The missions evaluated development needs and opportunities for the financial sector, identified potential vulnerabilities of markets and financial institutions, and identified risks to macroeconomic stability from weaknesses in the financial sector. The Financial System Stability Assessment (FSSA) was discussed by the Executive Board on May 5, 2004, and subsequently published on the IMF’s external website, including the Report on the Observance of Standards and Codes (ROSC) on Banking Supervision.
Relations with other Financial Institutions
(As of October 28, 2022)
World Bank
WBG Finances - Countr y Details - St. Vincent and the Grenadines (worldbank.org)
Caribbean Development Bank
Saint Vincent and the Grenadines | Caribbean Development Bank (caribank.org)
Statistical Issues
(As of October 28, 2022)
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision has some shortcomings but is broadly adequate for surveillance. |
| National Accounts: The Statistical Office (SO) has published annual GDP estimates by economic activity and expenditure at current and constant 2018 prices, changing the base from 2006. The SO commenced releasing quarterly GDP estimates by economic activity at constant prices in July 2018. A CARTAC mission in January 2019 assisted with development the framework for the 2018 Supply and Use Tables and the compilation of quarterly GDP estimates at current prices and constant 2018 prices, and the SO has subsequently published them. A medium-term action plan to improve and expand the national accounts aggregates has been developed. It will be necessary to increase the staffing and other resources of the SO in order to implement the action plan. In addition, improvements are needed on data used to monitor labor markets. |
| Price Statistics: A current CPI index series (with January 2010 as the base) was introduced in June 2011 with assistance from CARTAC. The current index uses a Household Budget and Expenditure Survey (HBES) that took place in 2008. As part of the CARTAC’s assistance with the current CPI index, it helped link the 2001 based to the 2010-based CPI series. The CSO has not produced producer price index (PPI), and export and import price indices (XMPIs). The SO conducted a HBES in 2018 and the CPI basket was reweighted in 2019. The SO is testing the new CPI series with the 2019 base, with support from CARTAC. |
| Government Finance Statistics: Central government monthly revenue and expenditure data are provided regularly. Capital expenditure data have some reporting lags and include some income supporting programs that should be categorized and reported under subsidies and transfers. Discrepancies exist between the fiscal and monetary accounts, between above and below the line for budget data, and between financing and debt data. The financial reports of public enterprises are available with a significant delay. However, public debt data are published at a timely basis. Fiscal data provided for surveillance are based on the Government Finance Statistics Manual (GFSM) 1986 framework. It is desirable to develop capacity and migrate to reporting based on the GFSM 2014 framework. |
| Monetary and Financial Statistics: Monthly monetary statistics are compiled and reported to the Fund by the ECCB, based on standardized report forms (SRF) for the central bank (SRF 1SR) and for other depository corporations (SRF 2SR), since July 2006. The main shortcomings of the monetary statistics relate to incomplete institutional coverage of other depository corporations. Specifically, mortgage companies, finance companies, building societies, and credit unions—all of which accept deposits—are not covered by the monetary statistics. Also, accrued interest is not incorporated in the value of the interest-bearing assets and liabilities, and valuation adjustments are included in other liabilities. To achieve better coverage, close coordination between the ECCB and the single regulatory unit (which supervises financial corporations other than those licensed under the Banking Act) is crucial. The ECCB has implemented a new reporting system for commercial banks addressing the recommendations made by the 2014 MFS mission and has been reporting data in the new format since 2020. |
| Financial Sector Surveillance: The ECCB reports all core and 10 additional financial soundness indicators (FSIs) for commercial banks in St. Vincent. The Financial Services Authority (FSA) compiles and publishes FSIs for credit unions and insurance companies on a quarterly basis. |
| External sector statistics: Since 2017, annual balance of payments and international investment position (IIP) data are compiled and disseminated following the latest international standard methodology (BPM6). Education-related services provided to nonresident students by the offshore universities, which were omitted in the former methodology, are now included as travel services exports. The response rate to the business and visitor expenditure surveys is low and more granularity of administrative information is needed for analytical purposes. The CARTAC continues to assist ECCU member countries in strengthening their ESS compilation framework, including through the development of a work plan to improve business registry focusing on relevant respondents and the revision of debt securities issued in the Regional Government Securities Market according to residence of holders. Actions for improvements are coordinated by the SO with the ECCB, which jointly compiles the ESS of the country and the rest of the ECCU. |
| II. Data Standards and Quality |
| St. Vincent and the Grenadines has been participating in the General Data Dissemination System since September 2000 and currently participates in its successor initiative, the e-GDDS. The 2007 regional data ROSC provides an assessment on the ECCB’s monetary statistics. No data ROSC is available for other sectors. |
| I. Assessment of Data Adequacy for Surveillance |
| General: Data provision has some shortcomings but is broadly adequate for surveillance. |
| National Accounts: The Statistical Office (SO) has published annual GDP estimates by economic activity and expenditure at current and constant 2018 prices, changing the base from 2006. The SO commenced releasing quarterly GDP estimates by economic activity at constant prices in July 2018. A CARTAC mission in January 2019 assisted with development the framework for the 2018 Supply and Use Tables and the compilation of quarterly GDP estimates at current prices and constant 2018 prices, and the SO has subsequently published them. A medium-term action plan to improve and expand the national accounts aggregates has been developed. It will be necessary to increase the staffing and other resources of the SO in order to implement the action plan. In addition, improvements are needed on data used to monitor labor markets. |
| Price Statistics: A current CPI index series (with January 2010 as the base) was introduced in June 2011 with assistance from CARTAC. The current index uses a Household Budget and Expenditure Survey (HBES) that took place in 2008. As part of the CARTAC’s assistance with the current CPI index, it helped link the 2001 based to the 2010-based CPI series. The CSO has not produced producer price index (PPI), and export and import price indices (XMPIs). The SO conducted a HBES in 2018 and the CPI basket was reweighted in 2019. The SO is testing the new CPI series with the 2019 base, with support from CARTAC. |
| Government Finance Statistics: Central government monthly revenue and expenditure data are provided regularly. Capital expenditure data have some reporting lags and include some income supporting programs that should be categorized and reported under subsidies and transfers. Discrepancies exist between the fiscal and monetary accounts, between above and below the line for budget data, and between financing and debt data. The financial reports of public enterprises are available with a significant delay. However, public debt data are published at a timely basis. Fiscal data provided for surveillance are based on the Government Finance Statistics Manual (GFSM) 1986 framework. It is desirable to develop capacity and migrate to reporting based on the GFSM 2014 framework. |
| Monetary and Financial Statistics: Monthly monetary statistics are compiled and reported to the Fund by the ECCB, based on standardized report forms (SRF) for the central bank (SRF 1SR) and for other depository corporations (SRF 2SR), since July 2006. The main shortcomings of the monetary statistics relate to incomplete institutional coverage of other depository corporations. Specifically, mortgage companies, finance companies, building societies, and credit unions—all of which accept deposits—are not covered by the monetary statistics. Also, accrued interest is not incorporated in the value of the interest-bearing assets and liabilities, and valuation adjustments are included in other liabilities. To achieve better coverage, close coordination between the ECCB and the single regulatory unit (which supervises financial corporations other than those licensed under the Banking Act) is crucial. The ECCB has implemented a new reporting system for commercial banks addressing the recommendations made by the 2014 MFS mission and has been reporting data in the new format since 2020. |
| Financial Sector Surveillance: The ECCB reports all core and 10 additional financial soundness indicators (FSIs) for commercial banks in St. Vincent. The Financial Services Authority (FSA) compiles and publishes FSIs for credit unions and insurance companies on a quarterly basis. |
| External sector statistics: Since 2017, annual balance of payments and international investment position (IIP) data are compiled and disseminated following the latest international standard methodology (BPM6). Education-related services provided to nonresident students by the offshore universities, which were omitted in the former methodology, are now included as travel services exports. The response rate to the business and visitor expenditure surveys is low and more granularity of administrative information is needed for analytical purposes. The CARTAC continues to assist ECCU member countries in strengthening their ESS compilation framework, including through the development of a work plan to improve business registry focusing on relevant respondents and the revision of debt securities issued in the Regional Government Securities Market according to residence of holders. Actions for improvements are coordinated by the SO with the ECCB, which jointly compiles the ESS of the country and the rest of the ECCU. |
| II. Data Standards and Quality |
| St. Vincent and the Grenadines has been participating in the General Data Dissemination System since September 2000 and currently participates in its successor initiative, the e-GDDS. The 2007 regional data ROSC provides an assessment on the ECCB’s monetary statistics. No data ROSC is available for other sectors. |
St. Vincent and the Grenadines: Table of Common Indicators Required for Surveillance
(As of October 28, 2022)
St. Vincent and the Grenadines is a member of the Eastern Caribbean Currency Union, in which the common currency of all member states (E.C. dollar) is pegged to the U.S. dollar at US$1 = EC$2.70.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state-owned enterprises.
Including domestic and external composition and maturity.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
St. Vincent and the Grenadines: Table of Common Indicators Required for Surveillance
(As of October 28, 2022)
| Date of Latest Observation | Date Received | Frequency of Data5 | Frequency of Reporting5 | Frequency of Publication5 | |
|---|---|---|---|---|---|
| Exchange rate1 | Fixed rate | NA | NA | NA | NA |
| International reserve assets and reserve liabilities of the monetary authorities | Aug. 2022 | Oct. 2022 | M | M | M |
| Reserve/base money | Aug. 2022 | Oct. 2022 | M | M | M |
| Broad money | Aug. 2022 | Oct. 2022 | M | M | M |
| Central bank balance sheet | Aug. 2022 | Oct. 2022 | M | M | M |
| Consolidated balance sheet of the banking system | Aug. 2022 | Oct. 2022 | M | M | M |
| Interest rates | June 2022 | Sep. 2022 | Q | Q | Q |
| Consumer price index | Aug. 2022 | Oct. 2022 | M | M | M |
| Revenue, expenditure, balance and composition of financing—central government | Sep. 2022 | Oct. 2022 | M | M | H |
| Revenue, expenditure, balance and composition of financing—general government2 | NA | NA | NA | NA | NA |
| Stock of central government and central government-guaranteed debt3 | Dec. 2021 | June 2022 | Q | H | H |
| External current account balance | 2020 | April 2022 | A | A | A |
| Exports and imports of goods and services | June 2022 | Sep. 2022 | A | Q | Q |
| GDP/GNP | 2021 | Oct. 2022 | A | A | A |
| Gross external debt | NA | NA | NA | NA | NA |
| International Investment Position4 | 2020 | April 2022 | A | A | A |
St. Vincent and the Grenadines is a member of the Eastern Caribbean Currency Union, in which the common currency of all member states (E.C. dollar) is pegged to the U.S. dollar at US$1 = EC$2.70.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state-owned enterprises.
Including domestic and external composition and maturity.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
St. Vincent and the Grenadines: Table of Common Indicators Required for Surveillance
(As of October 28, 2022)
| Date of Latest Observation | Date Received | Frequency of Data5 | Frequency of Reporting5 | Frequency of Publication5 | |
|---|---|---|---|---|---|
| Exchange rate1 | Fixed rate | NA | NA | NA | NA |
| International reserve assets and reserve liabilities of the monetary authorities | Aug. 2022 | Oct. 2022 | M | M | M |
| Reserve/base money | Aug. 2022 | Oct. 2022 | M | M | M |
| Broad money | Aug. 2022 | Oct. 2022 | M | M | M |
| Central bank balance sheet | Aug. 2022 | Oct. 2022 | M | M | M |
| Consolidated balance sheet of the banking system | Aug. 2022 | Oct. 2022 | M | M | M |
| Interest rates | June 2022 | Sep. 2022 | Q | Q | Q |
| Consumer price index | Aug. 2022 | Oct. 2022 | M | M | M |
| Revenue, expenditure, balance and composition of financing—central government | Sep. 2022 | Oct. 2022 | M | M | H |
| Revenue, expenditure, balance and composition of financing—general government2 | NA | NA | NA | NA | NA |
| Stock of central government and central government-guaranteed debt3 | Dec. 2021 | June 2022 | Q | H | H |
| External current account balance | 2020 | April 2022 | A | A | A |
| Exports and imports of goods and services | June 2022 | Sep. 2022 | A | Q | Q |
| GDP/GNP | 2021 | Oct. 2022 | A | A | A |
| Gross external debt | NA | NA | NA | NA | NA |
| International Investment Position4 | 2020 | April 2022 | A | A | A |
St. Vincent and the Grenadines is a member of the Eastern Caribbean Currency Union, in which the common currency of all member states (E.C. dollar) is pegged to the U.S. dollar at US$1 = EC$2.70.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state-owned enterprises.
Including domestic and external composition and maturity.
Includes external gross financial asset and liability positions vis-à-vis nonresidents.
Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.