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IMF PROJECTS 5% GDP GROWTH FOR SVG IN 2023

IMF Director Kristalina Georgieva


September 6, 2022 | By Colin O. Jarrett |

The International Monetary Fund (IMF) has projected Gross Domestic Product (GDP) growth of 5% for St Vincent and the Grenadines for 2022 and strengthening to 6% in 2023.

In a report issued on Thursday, the IMF said although the outlook for St Vincent is positive, it is subject to significant downside risks.

This is primarily due to the threat of natural disasters and intensified spillovers from Russia’s war in Ukraine, which resulted in higher commodity prices.

The 2022 Article Four statement on St Vincent was issued following the IMF mission, which visited the Eastern Caribbean country in late August for discussions on economic development and macroeconomic policies.

The IMF said the post-eruption rebuilding activity, continued recovery in tourism and agriculture and the start of several large-scale investment projects would support real GDP growth of 5% this year.

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