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St. Kitts and Nevis: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in St. Kitts and Nevis during 1993–95. Economic performance was broadly satisfactory in 1993–94 with high real GDP growth, low inflation, and a favorable external position. Faced with increased external competition and reduced concessional aid flows, the government has pursued a development strategy aimed at diversifying the economy away from the sugar industry toward tourism-led activities. As a result, the tourism sector expanded rapidly, generating substantial employment opportunities and foreign exchange earnings, the economic structure being centered on service-oriented activities.

Suggested Citation

  • International Monetary Fund, 1995. "St. Kitts and Nevis: Recent Economic Developments," IMF Staff Country Reports 1995/059, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1995/059
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