St. Lucia to avoid turning to IMF – seeks to find internal solutions

The mounting fiscal pressures in St. Lucia are as a consequence of low growth and attempts by successive governments to actively spur employment and protect the vulnerable. The country has had to borrow heavily to support these activities.

“St Lucia’s borrowing requirement as a percentage of gross domestic product (GDP) is the highest in the Eastern Caribbean Currency Union. This was the case in 2010, 2011 and in 2012. If this trend is not reversed very soon, we will be firmly on the path to an IMF program,” he said. – (CMC)

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