[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109898-en":3,"doc-seo-109898-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109898,13056703019662,"Evangeline","https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188",8,"Research & Report","St. Vincent and the Grenadines - Joint World Bank-IMF Debt Sustainability Analysis - May 2020","Debt sustainability analysis for St. Vincent and the Grenadines concludes that public debt is sustainable, yet it remains at high risk of distress for both external and overall public debt. The assessment highlights pandemic-driven contraction and fiscal deterioration in 2020, with total public and publicly guaranteed debt projected to rise from 75.2 percent of GDP in 2019 to 85.8 percent in 2020. The central government targets a primary balance shift from a deficit in 2020 to a surplus by 2025 through expenditure containment and capital prioritization, putting debt on a downward path after 2021.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nST. VINCENT AND THE GRENADINES  \nJoint World Bank-IMF Debt Sustainability Analysis  \nMay 2020  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão (IDA), Patricia Alonso-Gamo, Chad Steinburg (IMF)  \n\n| St. Vincent and Grenadines: Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of External debt distress: | High |\n| Overall risk of debt distress | High |\n| Granularity in the risk rating | Sustainable |\n| Application ofjudgment | No |\n\nThe debt sustainability analysis (DSA) indicates that St. Vincent and the Grenadines’ public debt is sustainable but remains at high risk of distress for both external and overall public debt (unchanged from the previous assessment in the 2018 Article IV Staff Report) . 1 With the pandemic crisis and the economic contraction, the fiscal position will deteriorate in 2020, and total public and publicly guaranteed debt is expected to increase from 75.2 percent of GDP in 2019 to 85.8 percent in 2020. Beyond 2021, the large port project will put additional pressure on public finances. The authorities are committed to increasing the central government primary balance from a deficit of 3.7 percent of GDP in 2020 to a surplus of no less than 2.1 percent of GDP by 2025, mainly through expenditure-side measures (e.g. , containing the growth of current spending and prioritizing capital programs). This will put the debt-to-GDP ratio on a solid downward path after 2021 and make debt sustainable in a forward-looking sense. Under staff’s baseline scenario, the present value (PV) of public debt as a percent of GDP is projected to start falling in 2021 and that of external debt in 2024 but stay above indicative benchmarks for an extended period. The PV of debt-to-exports and the debt service-to-exports ratios would fall below the indicative threshold by 2021 and 2023, respectively (Figures 1 and 2) .  \n1 St. Vincent and the Grenadines’ score in the Composite Indicator is 3. 0, implying that the country’s debt carrying capacity is classified as medium . The classification determines the corresponding debt and debt service benchmarks for the external public and publicly guaranteed external debt and for total public debt.  \nBACKGROUND ON PUBLIC SECTOR DEBT  \n1. There are no data gaps in public sector debt coverage (Text Table 1). Public sector debt includes central government debt and state-owned enterprises (SOEs) debt. 1F2 As of end-2019, the outstanding stock of total public debt was EC$1.7 billion (75 .2 percent of GDP), of which central government debt was EC$1 . 5 billion (67 . 6 percent of GDP), and SOEs debt was EC$0 .2 billion (7 . 6 percent of GDP) .3 Thus, the combined contingent liability stress test excludes contingent liabilities from SOEs.  \n\n| Text Table1. St. Vincent and the Grenadines: Coverage of Public Sector Debt |  |  |  |\n| --- | --- | --- | --- |\n|  |  | Subsectors of the public sector Sub-sectors covered |  |\n|  |  |  |  |\n|  | 1\u003Cbr>2\u003Cbr>3\u003Cbr>4\u003Cbr>5\u003Cbr>6\u003Cbr>7\u003Cbr>8 | Central government X\u003Cbr>State and local government\u003Cbr>Other elements in the general government o/w: Social security fund\u003Cbr>o/w: Extra budgetary funds (EBFs)\u003Cbr>Guarantees (to other entities in the public and private sector, including to SOEs) X Central bank (borrowed on behalf of the government)\u003Cbr>Non-guaranteed SOE debt X |  |\n|  |  |  |  |\n\n2. The composition of public debt is dominated by external debt (Text Figure 1). As ofend 2019, the stock of external debt accounted for 70 percent of total public debt, while domestic debt accounted for 30 percent of total.  \n3. External public debt increased from 49.3 of GDP in 2018 to 53.0 percent of GDP in 2019.  \nThe increase in external public debt-to-GDP ratio reflects the worsening of the primary balance due to higher outlays on p","cbCainz6L1bL9PaL","https://ap.wps.com/l/cbCainz6L1bL9PaL","pdf",593679,4,1,19,"English","en",105,"# Risk Assessment and Debt Outlook\n## Baseline scenario and projected debt dynamics\n## External and overall risk of distress\n# Background on Public Sector Debt\n## Coverage and public debt composition\n## External public debt structure and creditors","[{\"question\":\"What is the overall conclusion of the debt sustainability analysis for St. Vincent and the Grenadines?\",\"answer\":\"Public debt is assessed as sustainable, but the country faces a high risk of debt distress for both external debt and overall public debt.\"},{\"question\":\"How does the analysis describe the impact of the pandemic on fiscal conditions and debt levels?\",\"answer\":\"The pandemic crisis and economic contraction are expected to deteriorate the fiscal position in 2020, increasing total public and publicly guaranteed debt from 75.2 percent of GDP in 2019 to 85.8 percent in 2020.\"},{\"question\":\"What policy path is outlined to improve the debt outlook after 2021?\",\"answer\":\"The authorities aim to raise the central government primary balance from a 2020 deficit of 3.7 percent of GDP to at least a 2.1 percent surplus by 2025, supported mainly by expenditure-side measures and prioritizing capital programs.\"}]","St. Vincent and the Grenadines - Joint World Bank-IMF Debt Sustainability Analysis - May 2020 | PDF",1784482935,48,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":87,"head_meta":89,"extra_data":91,"updated_unix":29},"st-vincent-and-the-grenadines-joint-world-bank-imf-debt-sustainability-analysis-may-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":20},"https://docshare.wps.com/document/st-vincent-and-the-grenadines-joint-world-bank-imf-debt-sustainability-analysis-may-2020/109898/",{"url":53,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-01","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What is the overall conclusion of the debt sustainability analysis for St. Vincent and the Grenadines?","Question",{"text":76,"@type":77},"Public debt is assessed as sustainable, but the country faces a high risk of debt distress for both external debt and overall public debt.","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"How does the analysis describe the impact of the pandemic on fiscal conditions and debt levels?",{"text":81,"@type":77},"The pandemic crisis and economic contraction are expected to deteriorate the fiscal position in 2020, increasing total public and publicly guaranteed debt from 75.2 percent of GDP in 2019 to 85.8 percent in 2020.",{"name":83,"@type":74,"acceptedAnswer":84},"What policy path is outlined to improve the debt outlook after 2021?",{"text":85,"@type":77},"The authorities aim to raise the central government primary balance from a 2020 deficit of 3.7 percent of GDP to at least a 2.1 percent surplus by 2025, supported mainly by expenditure-side measures and prioritizing capital programs.","https://schema.org",{"og:url":53,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":22,"doc_module":4,"doc_module_name":47,"category_name":137,"show_sort_weight":107,"slug":138},"General","general"]