Economy

Soft Landing Forecast For ECCU Economy In 2008

Basseterre, St. Kitts – Nevis
February 12, 2008 (CUOPM)

The number two man at the International Monetary Fund (IMF) is pleased with the Eastern Caribbean Currency Union (ECCU)  governments’ commitment to fiscal consolidation, with important reforms to place fiscal balances on a firmer footing underway in many countries-including through the introduction of value-added taxes and efforts to overhaul government expenditures, focused on enhancing efficiency of capital spending and civil service reform.

“These efforts will be key to lowering debt levels and strengthening the currency union,” said Deputy Managing Director at the Washington-based financial institution, Murilo Portugal.

Portugal, who was on his first visit to the Eastern Caribbean region as Deputy Managing Director of the International Monetary Fund attended the 61st Meeting of the ECCB Monetary Council met with Prime Ministers, Finance Ministers, and the Governor of the Eastern Caribbean Central Bank.

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St. Kitts And Nevis Economy Growing According To IMF

Basseterre, St. Kitts – Nevis
February 12, 2008 (CUOPM)

Deputy Managing Director at the Washington-based International Monetary Fund (IMF), Murilo Portugal says macroeconomic outcomes in St. Kitts and Nevis have strengthened markedly in recent years.

The IMF official, who was in St. Kitts to attend last week’s meeting of the Eastern Caribbean Central Bank Monetary Council held talks with St. Kitts and Nevis Deputy Prime Minister Hon. Sam Condor and Premier of Nevis, Hon. Joseph Parry.

In a statement on his discussions with the local authorities, the IMF official noted that “growth has rebounded, foreign direct investment accelerated, and fiscal balances improved” in St. Kitts and Nevis.

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St. Kitts and Nevis Hosts Diplomatic Week 2008

St. Kitts – Nevis
February 08, 2008

Diplomatic Week 2008 embodies the very aspirations of the people of St. Kitts & Nevis and in fact the peoples of the world. It enables the Federation to engage the world in a tone of cooperation through dialogue and discussions with friends and allies. The climate of international affairs necessitates a proactive and vigorous foreign policy. With that reality, Diplomatic Week aims to realize, in fruitful terms, the urgency of emboldening our foreign policy by convening strategic partners to hear the positions of St. Kitts & Nevis and explore ways of maximizing benefits from international relations and building partnerships for mutual advantage.

To ensure that this Diplomatic Week records a resounding success that redounds to the citizenry of this beautiful land, the Ministry of Foreign Affairs & International Trade has scheduled a program that comprehensively incorporates its mandate of advancing the national and international agenda of the Federation.

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St. Kitts – Nevis Ties With Taiwan Are Beneficial

Basseterre, St. Kitts – Nevis
February 06, 2008 (CUOPM)

The recently-opened St. Kitts and Nevis Embassy in the Republic of China on Taiwan will expand the potential of both governments to build on their relationship, further facilitate the myriad of diplomatic, business and technical and other forms of bilateral cooperation that under-gird constructive relations between sovereign states.

So says St. Kitts and Nevis’ Prime Minister Hon. Dr. Denzil L. Douglas at the official opening of the office in Taipei, who added that cooperation with Taiwan over the years has yielded impressive results in the areas of agriculture, community development, sports, infrastructure expansion and diplomatic training.

Dr. Douglas described the opening of the Embassy as an important day in the special and ever-evolving relationship between the Government of the Republic of China on Taiwan and the Government of St. Kitts and Nevis.

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Nevis Cost Of Living Reduction Top Of Agenda

Charlestown, Nevis
February 01, 2008

New Junior Minister with responsibility for Trade, Industry and Consumer Affairs Minister in the Nevis Island Administration (NIA) Hon. Dwight Cozier, reiterated the NIA’s commitment to a reduction in the cost of living on Nevis and the implementation of a  system of checks and balances to ensure that consumers were the ultimate beneficiaries.
 
Mr. Cozier, who was reassigned from the Premier’s Ministry on January 10, 2008, to head the Ministry of Trade Industry Consumer Affairs Import and Export Control, made the comment during an interview with the Department of Information on January 31, 2008.
 
“Our [NIA] idea of reducing the cost of living ought not to end up profiting persons or profiting persons who are in the market as middle people between the government and the consumer. We will ensure by virtue of the Price Control Unit which will be supervised by the Consumer Affairs Department that we have controls. We will ensure that prices are controlled, so as to ensure that “¦the prices get passed on, in the end, to the consumer.
 
“That is the whole idea of making the country a country that is more beneficial for the people and we [NIA] are very serious about the idea of reducing prices on the island of Nevis,” he said. 

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