© 2008 International Monetary Fund
July 2008
IMF Country Report No. 08/226
Antigua and Barbuda: Statistical Appendix
This Statistical Appendix for Antigua and Barbuda was prepared by a staff team of the International
Monetary Fund as background documentation for the periodic consultation with the member country.
It is based on the information available at the time it was completed on January 17, 2008. The views
expressed in this document are those of the staff team and do not necessarily reflect the views of the
Government of Antigua and Barbuda or the Executive Board of the IMF.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of
market-sensitive information.
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International Monetary Fund
Washington, D.C.
INTERNATIONAL MONETARY FUND
ANTIGUA AND BARBUDA
Statistical Appendix
Prepared by a staff team consisting of Guy Meredith, Koffie Nassar,
Rupa Duttagupta, and Dmitriy Kovtun
Approved by Western Hemisphere Department
January 17, 2008
Contents
Page
Basic Data ..................................................................................................................................2
Tables
1. GDP by Sector of Origin at Current Prices, 2002–06 ........................................................3
2. GDP by Sector of Origin at Constant 1990 Prices, 2002–06 .............................................4
3. Consumer Prices, 2002–06.................................................................................................5
4. Central Government Operations, 2002–06.........................................................................6
5. Central Government Revenue and Grants, 2002–06..........................................................7
6. Central Government Expenditure, 2002–06.......................................................................8
7. Monetary Survey, 2002–06 ................................................................................................9
8. Summary Operations of the Eastern Caribbean Central Bank, 2002–06 .........................10
9. Consolidated Accounts of the Commercial Banks, 2002–06...........................................11
10. Distribution of Commercial Bank Loans and Advances, 2002–06..................................12
11. Selected Interest Rates, 2002–06......................................................................................13
12. Balance of Payments, 2002–06 ........................................................................................14
13. Selected Tourism Statistics, 2002–06 ..............................................................................15
14. Air Stayover Arrivals, 2002–06 .......................................................................................16
15. Air Stayover Arrivals by Country of Origin, 2001–06 ....................................................17
16. Visitor Arrivals as a Share of the Caribbean Area, 2001–05 ...........................................18
17. Public and Publicly Guaranteed External Debt, 2001–06 ................................................19
18. Effective Exchange Rate Indices, 1990–2007..................................................................20
2
Antigua and Barbuda: Basic Data
I. Social and Demographic Indicators
443
Health (most recent year)
27.3
Population per physician
Population per hospital bed
Area (sq. km)
Arable land (percent of land area)
Population (2005)
Total
Annual rate of growth, 1991−2001 (percent a year)
Density (per sq. km.)
GDP per capita (US$), 2005
Population characteristics (1999)
Life expectancy at birth (years)
Crude birth rate (per thousand)
Crude death rate (per thousand)
Poverty level (2005)
84,334
1.0
171
10,319
274
164
Education (2001; in percent)
Adult literacy rate
87
Energy (2005; in millions of US$)
Imports of petroleum products
Exports of petroleum products
75
19
8
18.4
96.5
0
GDP (2005)
(in millions of EC$)
(in millions of US$)
2,350
870
II. Selected Economic and Financial Indicators, 2002−06
2002
2003
2004
Est.
2005
Prel.
2006
(Annual percentage chance, unless otherwise indicated)
National income and prices
GDP at constant factor cost
Nominal GDP at market prices
Consumer prices (period average)
External sector
Exports, f.o.b.
Imports, f.o.b.
Travel receipts (gross)
Nominal effective exchange rate (period ave., depreciation -) 1/
Real effective exchange rate (period ave., depreciation -) 1/
2.0
1.0
2.4
4.3
5.1
2.0
5.2
8.5
2.0
5.5
6.3
2.1
12.2
15.4
1.8
533.6
n.a.
0.0
0.0
0.0
32.9
16.3
9.5
-3.2
-3.3
27.7
6.3
12.6
-2.7
-3.0
44.3
11.4
-6.3
-0.3
-1.1
-12.1
10.8
8.1
0.1
-1.1
(Contribution to broad money growth)
Money and credit
Net foreign assets
Net domestic assets
Net credit to the public sector
Credit to the private sector
Broad money
Average deposit rate (in percent per annum) 2/
Average lending rate (in percent per annum) 2/
0.6
5.7
0.3
7.5
6.3
4.4
11.4
21.9
-0.8
3.0
2.2
21.1
4.9
12.8
-1.4
10.6
-1.1
0.9
9.2
4.1
12.0
3.4
3.5
-1.2
7.7
6.9
3.9
11.4
9.9
5.3
-5.2
15.6
15.2
3.8
10.9
(In percent of GDP)
Central government
Primary balance
Overall balance
Total revenue and grants
Total expenditure and net lending
Identified financing
External
Domestic
Debt relief
Statistical discrepancy
External sector
Current account balance
Trade balance
Nonfactor service balance
Of which
Gross tourism receipts
Foreign direct investment (net)
Overall balance
External government debt (end of year)
Of which
Arrears
Scheduled external debt service 3/
(In percent of exports of goods and services)
Memorandum intems:
Gross international reserves of the ECCB
(In millions of U.S. dollars)
(In percent of ECCU broad money)
Nominal GDP at market prices (in millions of EC$)
Central government debt stock
(In millions of EC$)
(In percent of GDP)
-6.9
-11.6
21.7
33.3
-4.2
-9.0
21.1
30.2
-1.2
-6.1
21.6
27.7
-2.3
-6.9
21.9
28.8
-4.0
-8.8
25.2
33.9
9.8
5.9
3.9
...
1.7
10.9
6.3
4.5
...
-1.8
7.4
-1.5
6.9
1.9
-1.2
9.4
-20.3
7.5
22.2
-2.5
8.8
4.4
4.4
…
0.0
-11.5
-37.5
31.0
-12.9
-40.8
31.2
-8.3
-38.8
35.1
-12.4
-38.5
30.1
-16.1
-38.8
26.8
38.1
9.2
-2.8
74.3
39.8
22.1
-0.6
71.6
41.3
9.8
-2.8
65.7
36.4
13.4
-17.0
41.3
34.1
18.9
-2.1
40.7
19.6
22.7
22.5
16.8
18.2
9.3
9.5
14.5
32.2
7.3
504.8
20.2
539.9
19.8
632.4
20.5
600.8
17.9
696.0
18.6
1,938
2,036
2,210
2,350
2,712
2,572
143
2,681
132
2,806
127
2,411
103
2,673
99
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates and projections.
1/ Data for 2007 is up to April 2007.
2/ There is a break in the interest rate series in 2003, owing to changes in reporting requirements for banks.
3/ Data for 2005 includes debt relief from Italy.
3
Table 1. Antigua and Barbuda: GDP by Sector of Origin at Current Prices, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars)
GDP at current market prices
(In millions of U.S. dollars)
1,938.2
717.9
2,036.2
754.1
2,209.9
818.5
2,349.6
870.2
2,711.6
1,004.3
286.3
307.7
369.5
370.9
437.3
GDP at factor cost
Agriculture
Crops
Livestock
Forestry
Fisheries
Mining and quarrying
Manufacturing
Electricity and water
Construction
Transportation
Road transport
Sea transport
Air transport
Communication
Trade
Hotels and restaurants
Banks and insurance
Housing
Government services
Other services
Less: imputed banking services
1,651.9
62.6
17.1
13.5
0.9
31.2
28.3
38.1
51.4
228.6
193.1
77.7
22.5
93.0
137.9
167.4
157.3
161.4
120.6
297.8
124.8
117.2
1,728.4
65.2
17.7
14.0
0.9
32.6
29.8
40.1
50.6
243.9
215.0
87.9
32.0
95.1
140.1
177.4
173.4
158.8
126.7
306.5
126.7
125.8
1,840.4
67.9
18.6
14.4
0.9
34.1
4.5
39.4
52.9
254.9
253.0
101.9
39.1
111.9
145.5
185.8
185.2
174.1
133.7
320.5
133.6
132.3
1,978.7
71.4
19.5
14.9
0.9
36.0
5.2
40.9
57.7
319.9
249.9
103.9
36.1
109.8
157.2
197.2
194.1
190.0
141.2
329.9
141.9
145.5
2,274.2
75.3
20.3
15.5
0.9
38.5
5.5
42.4
62.0
466.4
285.4
119.0
43.3
123.1
165.0
219.9
204.8
203.2
154.1
359.8
142.9
156.4
GDP at factor cost
Agriculture
Crops
Livestock
Forestry
Fisheries
Mining and quarrying
Manufacturing
Electricity and water
Construction
Transportation
Road transport
Sea transport
Air transport
Communication
Trade
Hotels and restaurants
Banks and insurance
Housing
Government services
Other services
Less: imputed banking services
100.0
3.8
1.0
0.8
0.1
1.9
1.7
2.3
3.1
13.8
11.7
4.7
1.4
5.6
8.3
10.1
9.5
9.8
7.3
18.0
7.6
7.1
100.0
3.6
1.0
0.8
0.0
1.8
0.3
2.1
2.9
16.2
12.6
5.3
1.8
5.6
7.9
10.0
9.8
9.6
7.1
16.7
7.2
7.4
100.0
3.3
0.9
0.7
0.0
1.7
0.2
1.9
2.7
20.5
12.5
5.2
1.9
5.4
7.3
9.7
9.0
8.9
6.8
15.8
6.3
6.9
6.3
7.5
15.4
14.9
Net indirect taxes
(In percent of GDP at factor cost)
100.0
3.8
1.0
0.8
0.1
1.9
1.7
2.3
2.9
14.1
12.4
5.1
1.9
5.5
8.1
10.3
10.0
9.2
7.3
17.7
7.3
7.3
100.0
3.7
1.0
0.8
0.0
1.9
0.2
2.1
2.9
13.9
13.7
5.5
2.1
6.1
7.9
10.1
10.1
9.5
7.3
17.4
7.3
7.2
(Annual percentage change)
GDP at current market prices
GDP at current factor cost
1.0
2.0
5.1
4.6
8.5
6.5
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates.
4
Table 2. Antigua and Barbuda: GDP by Sector of Origin at Constant 1990 Prices, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars)
GDP at factor cost
Agriculture
Crops
Livestock
Forestry
Fisheries
Mining and quarrying
Manufacturing
Electricity and water
Construction
Transportation
Road transport
Sea transport
Air transport
Communication
Trade
Hotels and restaurants
Banks and insurance
Housing
Government services
Other services
Less: imputed banking services
1,294.6
43.7
12.7
10.5
0.8
19.7
24.5
32.7
51.1
180.2
133.5
65.7
19.1
48.7
142.2
114.3
149.9
140.9
96.1
220.5
85.4
120.6
1,350.4
44.8
12.9
10.9
0.8
20.2
25.9
35.3
49.7
192.3
153.1
74.4
27.2
51.5
144.2
118.4
165.3
137.7
99.0
227.0
87.2
129.5
1,420.9
46.0
13.3
11.2
0.8
20.7
22.6
33.9
52.9
197.1
175.4
85.3
33.2
56.9
148.6
121.9
176.4
152.6
102.5
237.4
89.8
136.2
1,498.6
47.4
13.7
11.4
0.8
21.4
28.7
35.2
56.3
235.5
171.3
86.9
30.7
53.7
160.5
126.7
174.5
167.5
106.1
244.3
91.8
147.1
1,681.8
50.5
14.0
11.7
0.8
24.0
41.6
36.3
60.7
317.9
195.8
103.3
36.2
56.4
168.5
145.6
179.7
180.0
111.4
254.1
95.5
155.9
(Annual percentage change)
GDP at factor cost
Agriculture
Crops
Livestock
Forestry
Fisheries
Mining and quarrying
Manufacturing
Electricity and water
Construction
Transportation
Road transport
Sea transport
Air transport
Communication
Trade
Hotels and restaurants
Banks and insurance
Housing
Government services
Other services
Less: imputed banking services
2.0
1.0
1.0
1.9
0.0
0.5
2.0
3.2
4.1
3.5
-3.3
-7.1
-4.8
3.0
0.4
-2.8
2.1
11.7
3.0
5.7
3.5
11.9
4.3
2.5
1.5
4.0
0.0
2.5
5.5
7.9
-2.7
6.7
14.7
13.1
42.4
5.8
1.4
3.6
10.2
-2.3
3.0
2.9
2.2
7.3
5.2
2.6
3.0
2.7
0.0
2.5
-12.5
-4.0
6.4
2.5
14.6
14.7
22.0
10.5
3.1
2.9
6.8
10.8
3.5
4.6
3.0
5.2
5.5
3.0
3.2
2.0
0.0
3.5
26.8
3.8
6.4
19.5
-2.3
2.0
-7.7
-5.6
8.0
3.9
-1.1
9.8
3.5
2.9
2.2
8.0
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates.
12.2
6.5
2.0
2.0
0.0
12.0
45.0
3.0
7.9
35.0
14.3
18.8
18.0
5.0
5.0
15.0
3.0
7.5
5.0
4.0
4.0
6.0
5
Table 3. Antigua and Barbuda: Consumer Prices, 2002–06 1/
Weight
2002
2003
2004
2005
2006
(End-of Period Index, January 2001 = 100)
All items
Food
Alcoholic beverages and tobacco
Clothing and footwear
Accommodations
Household furnishings
Fuel and light
Transportation and communication
Medical care
Education
Personal services
Other
100.0
21.4
0.2
11.1
21.8
12.6
6.4
15.4
2.8
2.3
4.3
1.8
Special indices:
Energy
Energy services (electricity)
Energy commodities (LPG/cooking gas)
Energy commodities (gasoline)
All items less food
All items less energy
All items less food and energy
103.4
102.3
102.5
107.1
102.3
107.2
96.1
102.1
102.9
101.5
111.4
99.2
105.2
98.9
108.1
106.0
107.2
111.6
94.8
107.8
106.1
103.9
113.4
102.9
108.1
105.6
104.7
106.6
109.7
109.1
96.1
108.5
109.8
104.2
131.9
107.2
110.9
107.1
106.9
108.0
109.7
114.4
113.1
109.7
111.3
115.7
131.9
108.6
110.9
108.6
110.8
108.0
109.7
114.4
107.9
109.7
111.3
116.8
131.9
108.6
96.8
96.1
102.5
100.0
99.1
100.0
99.1
96.9
94.7
102.5
105.9
104.4
103.8
105.2
100.9
96.1
102.5
121.2
105.4
105.8
105.9
126.7
115.8
102.5
173.6
106.9
105.3
104.7
120.4
107.9
102.5
173.6
111.5
110.1
110.5
(Annual percentage change)
All items
Food
Alcoholic beverages and tobacco
Clothing and footwear
Accommodations
Household furnishings
Fuel and light
Transportation and communication
Medical care
Education
Personal services
Other
Special indices:
Energy
Energy services (electricity)
Energy commodities (LPG/cooking gas)
Energy commodities (gasoline)
All items less food
All items less energy
All items less food and energy
100.0
21.4
0.2
11.1
21.8
12.6
6.4
15.4
2.8
2.3
4.3
1.8
2.6
0.5
0.6
5.2
0.6
5.2
10.5
0.6
0.7
0.9
9.4
-2.9
1.8
-3.4
5.5
-1.0
4.8
4.1
-1.4
5.6
3.1
2.3
1.8
3.7
2.8
6.7
-3.1
0.6
2.4
-2.2
1.4
0.6
3.5
0.3
16.2
4.2
2.5
1.5
2.1
1.3
0.0
4.8
17.7
1.1
1.3
11.0
0.0
1.4
0.0
1.4
3.7
0.0
0.0
0.0
-4.6
0.0
0.0
0.9
0.0
0.0
8.3
10.6
0.6
0.0
1.3
0.6
0.3
0.1
-1.4
0.0
5.9
5.4
3.8
6.2
4.1
1.4
0.0
14.4
0.9
2.0
0.6
25.6
20.5
0.0
43.3
1.5
-0.5
-1.1
-5.0
-6.8
0.0
0.0
4.3
4.6
5.6
Source: Antigua and Barbuda authorities.
1/ Based on preliminary estimates of an unpublished, new consumer price index, beginning January 2001,
compiled by the Statistics Division, Ministry of Finance.
6
Table 4. Antigua and Barbuda: Central Government Operations, 2002–06
2002
2003
2004
2005
(In millions of Eastern Caribbean dollars)
Prel.
2006
Total revenue and grants
Current revenue
Of which
Tax revenue
Capital grants
421.0
396.5
430.3
427.1
477.5
472.1
514.9
493.4
683.0
602.7
356.8
24.5
382.6
3.2
427.0
5.4
454.8
21.4
567.6
75.3
Total expenditure
Current expenditure
Wages and salaries
Employment contributions 1/
Goods and services, including utilities
Interest payments
External
Domestic
Pensions and other transfers
Capital expenditure and net lending
645.6
546.0
236.8
29.3
156.1
90.3
36.6
53.6
33.5
99.7
614.3
533.1
250.1
32.5
100.5
99.2
41.0
58.2
50.8
81.2
612.4
557.2
251.1
31.6
109.9
108.6
48.1
60.5
56.0
55.2
677.3
583.1
252.1
32.8
109.4
108.9
48.7
60.3
79.8
94.2
920.4
706.8
268.2
34.1
126.2
129.8
61.4
68.4
148.5
213.6
Current account balance
-149.5
-106.0
-85.1
-89.7
-104.1
Primary balance
-134.4
-84.8
-26.4
-53.5
-107.6
Overall balance
-224.6
-184.0
-135.0
-162.4
-237.4
190.7
115.0
70.7
43.9
99.6
-55.7
75.7
73.3
-8.4
7.4
3.4
…
33.9
221.5
129.2
81.4
48.2
111.5
-63.3
92.3
118.9
0.2
-29.9
3.0
…
-37.5
162.5
-33.0
35.8
-68.8
74.7
-143.5
153.1
156.9
0.0
-26.0
22.1
42.4
-27.6
221.5
-477.3
-92.4
-384.9
32.2
-417.1
176.2
131.3
0.0
27.1
17.8
522.6
-59.1
238.6
119.6
78.6
40.9
77.2
-36.3
119.1
59.8
0.0
59.3
0.0
…
-1.2
Identified financing
External (net)
Increase in arrears
External borrowing
Disbursement
Amortization
Domestic (net)
Increase in arrears 2/
ECCB
Banks and others
Land sales and privatization proceeds
Debt relief 3/
Statistical discrepancy
(In percent of GDP)
Total revenue and grants
Current revenue
Of which
Tax revenue
Capital grants
21.7
20.5
21.1
21.0
21.6
21.4
21.9
21.0
25.2
22.2
18.4
1.3
18.8
0.2
19.3
0.2
19.4
0.9
20.9
2.8
Total expenditure and net lending
Current expenditure
Wages and salaries
Employment contributions
Other goods and services
Interest payments
Pensions and other transfers
Capital expenditure and net lending
33.3
28.2
12.2
1.5
8.1
4.7
1.7
5.1
30.2
26.2
12.3
1.6
4.9
4.9
2.5
4.0
27.7
25.2
11.4
1.4
5.0
4.9
2.5
2.5
28.8
24.8
10.7
1.4
4.7
4.6
3.4
4.0
33.9
26.1
9.9
1.3
4.7
4.8
5.5
7.9
Current account balance
-7.7
-5.2
-3.9
-3.8
-3.8
Primary balance
-6.9
-4.2
-1.2
-2.3
-4.0
-11.6
-9.0
-6.1
-6.9
-8.8
9.8
5.9
3.6
2.3
5.1
-2.9
3.9
3.8
-0.4
0.4
0.2
…
1.7
10.9
6.3
4.0
2.4
5.5
-3.1
4.5
5.8
0.0
-1.5
0.1
…
-1.8
7.4
-1.5
1.6
-3.1
3.4
-6.5
6.9
7.1
0.0
-1.2
1.0
1.9
-1.2
9.4
-20.3
-3.9
-16.4
1.4
-17.8
7.5
5.6
0.0
1.2
0.8
22.2
-2.5
8.8
4.4
2.9
1.5
2.8
-1.3
4.4
2.2
0.0
2.2
0.0
…
0.0
Overall balance
Identified financing
External (net)
Increase in arrears
External borrowing (net)
Disbursement
Amortization
Domestic (net)
Increase in arrears
ECCB (net)
Banks and others (net)
Land sales and privatization proceeds
Debt relief 3/
Statistical discrepancy
Sources: Antigua and Barbuda authorities; and Fund staff estimates.
1/ Contributions to social security, medical benefit, and education levy.
2/ Includes interest and amortization arrears, other arrears, and unpaid employment contributions.
3/ Debt relief from a commerical supplier in 2004, and from the Italian government in 2005.
7
Table 5. Antigua and Barbuda: Central Government Revenue and Grants, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars)
Total revenue and grants
421.0
430.3
477.5
514.9
683.0
Current revenue
396.5
427.1
472.1
493.4
602.7
Tax revenue
Taxes on income
Corporation tax
Business tax
Personal income tax
Taxes on property
Taxes on domestic production and consumption
Hotel (bed-night) tax
Guest tax (6.5 percent)
Hotel guest levy (2 percent)
Restaurant sales tax
Casino tax
Telecommunications tax
Stamp duties
Other
Taxes on international transactions
Consumption duties
Import duty
Customs service charge
Travel tax
Embarkation tax
Foreign currency levy
Cruise passenger tax
Tax on gross income of offshore banks
Money tansfer levy
Environmental tax
Other (export duties, time share)
Passenger facility charge
Nontax revenue
ECCB profits
Propety leases and rents
Post office revenue
Other 1/
356.8
61.5
55.5
1.3
0.1
7.9
70.4
4.2
13.3
3.1
2.7
0.6
8.7
18.7
0.0
0.0
0.0
0.5
217.1
54.6
0.0
48.8
4.1
81.0
0.0
0.4
9.7
...
0.6
7.3
2.4
0.7
0.3
382.6
62.6
57.0
0.6
0.2
11.1
75.4
5.2
14.6
2.9
3.3
0.6
8.3
21.4
0.0
0.0
0.0
0.6
233.6
57.0
0.0
52.8
3.6
85.7
0.0
0.2
11.0
0.0
0.6
8.2
1.9
0.0
0.0
427.0
46.4
40.4
0.4
0.2
10.0
96.5
6.4
22.0
5.5
3.6
0.6
8.6
27.5
0.0
0.0
0.0
0.5
274.1
60.5
0.0
58.8
4.8
100.0
0.0
0.0
12.0
0.0
0.6
10.6
1.9
1.1
0.0
454.8
63.8
38.1
0.2
23.4
10.5
100.0
6.2
21.9
5.5
3.5
0.5
9.8
36.3
0.0
0.0
0.0
0.6
280.5
71.2
0.0
65.7
4.5
103.3
0.0
0.0
11.6
0.0
0.7
7.7
0.0
0.5
0.2
567.6
111.5
69.1
0.0
42.0
11.3
119.4
6.1
25.7
8.0
4.1
0.4
8.2
45.6
0.0
0.1
0.0
0.8
325.4
82.3
0.0
79.5
5.0
123.2
80.4
0.0
11.5
0.0
0.9
9.9
0.0
0.0
0.1
Capital grants
24.5
3.2
5.4
21.4
75.3
Total revenue and grants
Current revenue
Tax revenue
Taxes on income and property
Taxes on domestic production and consumption
Taxes on international transactions
Nontax revenue
Capital grants
21.7
20.5
18.4
3.6
3.6
0.0
0.0
1.3
21.1
21.0
18.8
3.6
3.7
0.0
0.0
0.2
21.9
21.0
19.4
3.2
4.3
0.0
0.0
0.9
25.2
22.2
20.9
4.5
4.4
0.0
0.0
2.8
(In percent of GDP)
21.6
21.4
19.3
2.6
4.4
0.0
0.0
0.2
Sources: Antigua and Barbuda authorities; and Fund staff estimates.
1/ Including taxes on services and profit-sharing from the West Indies Oil Company and surplus transfer
from public enterprises.
8
Table 6. Antigua and Barbuda: Central Government Expenditure, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars)
Total expenditure and net lending
645.6
614.3
612.4
677.3
920.4
Current expenditure
Wages and salaries
Established civil servants
Of which
Payments in arrears
Nonestablished workers
Of which
Payments in arrears
Traveling allowances 1/
Other personnel costs 1/
Social security contributions
Of which
Payments in arrears
Medical benefit contributions
Of which
Payments in arrears
Education levy
Of which
Payments in arrears
Goods and services, including utilities
Of which
Payments in arrears
Interest obligations
Domestic
Of which
Payments in arrears
External
Of which
Payments in arrears
Pensions and gratuities
Of which
Payments in arrears
Other transfers
Private sector
Regional and international
Public enterprises
Local government
546.0
236.8
236.8
533.1
250.1
250.1
557.2
251.1
251.1
583.1
252.1
252.1
706.8
268.2
268.2
0.0
114.8
15.9
119.1
23.4
121.1
19.7
114.5
6.3
123.6
0.0
0.0
6.0
14.1
3.1
12.8
5.9
11.1
5.2
18.2
5.7
14.5
3.6
16.2
26.5
1.5
2.4
4.0
25.7
1.9
0.0
13.9
3.6
14.1
7.8
13.7
0.7
14.0
0.6
14.7
13.9
11.9
14.1
14.4
13.5
14.0
14.0
14.6
14.7
15.1
11.9
156.1
14.4
100.5
13.8
109.9
14.6
109.4
15.1
126.2
1.0
90.3
53.6
3.7
99.2
58.2
3.6
108.6
60.5
3.7
108.9
60.3
4.3
129.8
68.4
90.3
36.6
99.2
41.0
108.6
48.1
108.9
48.7
129.8
61.4
13.6
22.6
15.2
31.2
15.9
32.7
24.1
38.2
28.8
42.9
20.3
10.9
0.0
0.0
4.8
6.1
28.1
19.6
6.1
6.5
6.3
0.7
25.5
23.3
3.1
10.2
4.6
5.3
23.1
41.7
0.0
34.2
0.0
7.4
26.0
105.6
0.0
30.5
7.2
67.9
Capital expenditure and net lending
Change in unpaid capital vouchers
99.7
0.7
81.2
0.0
55.2
0.0
94.2
0.0
213.6
0.0
Total expenditure and net lending
Current expenditure
Wages and salaries
Goods and services, including utilities
Interest payments
Other
Capital expenditure and net lending
33.3
28.2
12.2
8.1
4.7
3.2
5.1
30.2
26.2
12.3
4.9
4.9
4.1
4.0
28.8
24.8
10.7
4.7
4.6
4.8
4.0
33.9
26.1
9.9
4.7
4.8
6.7
7.9
(In percent of GDP)
27.7
25.2
11.4
5.0
4.9
4.0
2.5
Sources: Antigua and Barbuda authorities; and Fund staff estimates.
1/ Data for 2005-06 reflect reclassification of items from "other personnel costs" to "traveling allowance."
9
Table 7. Antigua and Barbuda: Monetary Survey, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars, end of period)
Net foreign assets
Net imputed international reserves
Commercial banks
328.8
236.6
92.2
668.0
307.1
360.8
641.8
324.3
317.5
710.5
343.7
366.8
926.1
385.1
541.1
Net domestic assets
Net credit to the public sector
Claims on government (net)
ECCB net credit to central government
Commercial bank net credit to government
Net credit to other public sector
Credit to private sector
Other items (net)
1,216.3
79.7
294.1
26.0
268.1
-214.4
1,457.0
-320.5
1,203.1
125.5
292.7
26.3
266.4
-167.2
1,491.6
-414.0
1,401.1
105.1
267.6
20.6
247.0
-162.5
1,508.1
-212.1
1,473.5
81.3
261.7
21.8
239.9
-180.4
1,665.6
-273.4
1,589.6
-31.4
195.6
20.2
175.4
-227.0
2,005.5
-384.5
Money and quasi-money (M2)
Money
Currency outside banks
Demand deposits
Quasi-money
Time deposits
Savings deposits
Foreign currency deposits
1,545.1
308.0
88.2
219.8
1,237.1
594.8
524.8
117.5
1,871.1
369.5
98.9
270.7
1,501.6
817.6
577.1
106.8
2,042.9
444.5
113.3
331.2
1,598.4
780.1
683.4
134.8
2,184.1
525.3
122.1
403.2
1,658.7
780.2
741.7
136.8
2,515.7
681.9
183.8
498.0
1,833.8
813.2
817.9
202.7
(12-month change in percent of M2 at the beginning period)
Net foreign assets
Net imputed reserves
Commercial banks net foreign assets
0.6
1.5
-0.9
21.9
4.6
17.4
-1.4
0.9
-2.3
3.4
0.9
2.4
9.9
1.9
8.0
Net domestic assets
Credit to the public sector
Credit to the central government
Credit to the rest of the public sector
Credit to the private sector
Other items (net)
5.7
0.3
0.3
0.0
7.5
-2.1
-0.8
3.0
-0.1
3.1
2.2
-6.1
10.6
-1.1
-1.3
0.3
0.9
10.8
3.5
-1.2
-0.3
-0.9
7.7
-3.0
5.3
-5.2
-3.0
-2.1
15.6
-5.1
(12-month percentage change)
Credit to the private sector
Money and quasi-money
Money
Quasi-money
8.0
6.3
0.3
7.9
2.4
21.1
20.0
21.4
1.1
9.2
20.3
6.4
10.4
6.9
18.2
3.8
20.4
15.2
29.8
10.6
Memorandum item:
Income velocity of M2
1.3
1.2
1.1
1.1
1.2
Source: Eastern Caribbean Central Bank.
10
Table 8. Antigua and Barbuda: Summary Operations of the
Eastern Caribbean Central Bank, 2002–06
(In millions of Eastern Caribbean dollars)
2002
2003
2004
2005
Prel.
2006
Net (imputed) international reserves
236.6
307.1
324.3
343.7
385.1
Net claims on commercial banks
-174.5
-234.5
-231.6
-243.4
-261.5
Claims
Liabilities
Currency held by banks
Statutory reserves
Fixed deposits
0.4
-174.9
-30.8
-144.1
0.0
0.3
-234.9
-36.2
-198.6
0.0
0.3
-231.8
-41.1
-190.7
0.0
0.0
-243.4
-47.7
-195.7
0.0
0.0
-261.6
-40.1
-221.4
0.0
Net claims on statutory bodies
0.0
0.0
0.0
0.0
0.0
Net domestic assets
Net credit to central government
Interest on securities
Temporary advances
Treasury bills
Debentures
Other claims
Central government deposits
26.0
26.0
1.0
8.5
0.0
14.8
1.7
0.0
26.3
26.3
2.4
9.1
0.0
14.8
0.0
0.0
20.6
20.6
0.5
6.6
0.0
14.8
0.0
-1.3
21.8
21.8
0.0
7.0
0.0
14.8
0.0
0.0
20.2
20.2
0.0
14.0
0.0
6.5
0.0
-0.3
88.2
119.0
30.8
98.9
135.1
36.2
113.3
154.5
41.1
122.1
169.8
47.7
183.8
224.0
40.1
Currency in circulation
Total currency issued
Less: Currency held by banks
Source: Eastern Caribbean Central Bank.
11
Table 9. Antigua and Barbuda: Consolidated Accounts of the
Commercial Banks, 2002–06
(In millions of Eastern Caribbean dollars)
2002
2003
2004
2005
Prel.
2006
92.2
360.8
317.5
366.8
541.1
656.3
9.7
94.8
388.3
163.5
-564.1
-134.9
-125.6
-298.9
-4.7
802.6
9.0
134.4
362.2
296.9
-441.8
-84.5
-139.2
-215.5
-2.5
925.6
9.8
100.8
466.3
348.6
-608.1
-227.3
-174.5
-200.2
-6.1
1533.7
12.3
363.1
674.3
484.0
-1166.9
-683.1
-280.5
-199.7
-3.5
1769.2
10.1
414.8
793.6
550.8
-1228.1
-688.7
-328.5
-203.7
-7.3
Net position with ECCB
169.8
211.4
244.8
242.2
307.1
Net claims on ECCB
Currency holdings
Current deposits
Fixed deposits and call accounts
Liabilities to ECCB
172.6
30.8
131.8
10.0
-2.8
215.8
36.2
179.6
0.0
-4.4
244.9
41.1
202.5
1.2
0.0
242.2
47.7
192.2
2.3
0.0
307.1
40.1
266.0
1.0
-0.1
Net domestic assets
1,222.8
1,216.9
1,391.1
1,486.2
1,503.2
Net credit to government
Treasury bills
Other securities
Loans and advances
Deposits
Net credit to National Insurance Scheme
Net credit to public enterprises
Loans, advances, and investments
Deposits
Net credit to other financial institutions
Loans, advances, and investments
Deposits
Credit to private sector
Interbank float
Claims
Liabilities
Net unclassified assets
268.1
24.6
14.4
255.2
-26.1
-37.3
-177.1
75.6
-252.6
-82.9
8.9
-91.8
1,457.0
-8.1
53.6
-61.7
-196.9
266.4
24.6
14.4
250.9
-23.5
-35.0
-132.2
75.5
-207.7
-70.1
47.3
-117.4
1,491.6
-6.1
32.6
-38.7
-297.8
247.0
30.1
23.8
237.0
-43.9
-38.6
-123.9
88.6
-212.6
-14.3
54.7
-69.0
1,508.1
-14.8
15.0
-29.8
-172.5
239.9
30.1
23.3
229.3
-42.9
-39.3
-141.1
95.6
-236.7
-35.5
60.4
-95.9
1,665.6
3.7
58.7
-55.0
-207.2
175.4
29.7
49.2
270.9
-174.4
-50.3
-176.7
76.6
-253.3
-36.9
35.8
-72.7
2,005.5
-40.4
8.1
-48.5
-373.4
Liabilities to the private sector
Demand deposits
Saving deposits
Time deposits
Foreign currency deposits
1,456.9
219.8
524.8
594.8
117.5
1,772.2
270.7
577.1
817.6
106.8
1,929.6
331.2
683.4
780.1
134.8
2,061.9
403.2
741.7
780.2
136.8
2,331.8
498.0
817.9
813.2
202.7
Net foreign assets
Foreign assets
Foreign currency holdings
Claims on ECCB area banks
Claims on banks abroad
Other
Foreign liabilities
Balances due to ECCB area banks
Balances due to banks abroad
Nonresident deposits
Other
Source: Eastern Caribbean Central Bank.
12
Table 10. Antigua and Barbuda: Distribution of Commercial Bank
Loans and Advances, 2002–06 1/
2002
2003
2004
2005
Prel.
2006
(In millions of Eastern Caribbean dollars)
Total
1,810.0
1,887.8
1,906.9
2,075.8
2,431.5
Public sector
Government and public enterprises, n.i.e.
Public utilities
263.5
234.6
28.9
271.0
220.5
50.5
292.0
224.6
67.4
292.4
245.9
46.5
350.9
259.2
91.6
Businesses
Agriculture and fisheries
Manufacturing and mining
Distributive trades
Tourism and entertainment
Transport
Construction and land development
Professional and other services
Financial institutions
770.7
9.4
47.6
208.6
170.7
29.6
126.4
140.9
37.5
838.4
7.2
56.2
196.1
173.5
34.4
109.8
197.4
63.7
815.7
8.5
57.9
187.4
157.4
32.5
133.2
180.9
57.9
798.2
6.9
49.5
190.6
159.6
34.0
119.3
194.4
43.7
932.7
6.9
48.4
184.8
218.3
34.5
175.4
236.4
28.1
Households
House and land purchases
Durable consumer goods
Other
775.8
393.1
79.9
302.8
778.4
439.6
100.8
238.0
799.2
456.8
95.4
246.9
985.3
562.3
122.4
300.5
1,147.9
607.5
160.5
380.0
(In percent of total)
Public sector
Government and public enterprises, n.i.e.
Public utilities
14.6
13.0
1.6
14.4
11.7
2.7
15.3
11.8
3.5
14.1
11.8
2.2
14.4
10.7
3.8
Businesses
Agriculture and fisheries
Manufacturing and mining
Distributive trades
Tourism and entertainment
Transport
Construction and land development
Professional and other services
Financial institutions
42.6
0.5
2.6
11.5
9.4
1.6
7.0
7.8
2.1
44.4
0.4
3.0
10.4
9.2
1.8
5.8
10.5
3.4
42.8
0.4
3.0
9.8
8.3
1.7
7.0
9.5
3.0
38.5
0.3
2.4
9.2
7.7
1.6
5.7
9.4
2.1
38.4
0.3
2.0
7.6
9.0
1.4
7.2
9.7
1.2
Households
House and land purchases
Durable consumer goods
Other
42.9
21.7
4.4
16.7
41.2
23.3
5.3
12.6
41.9
24.0
5.0
12.9
47.5
27.1
5.9
14.5
47.2
25.0
6.6
15.6
Source: Eastern Caribbean Central Bank.
1/ Includes credits to nonresidents.
13
Table 11. Antigua and Barbuda: Selected Interest Rates, 2002–06
(In percent per annum)
2002
2003
2004
2005
2006
ECCB discount rate
7.00
6.50
6.50
6.50
6.50
Money market rate 1/
6.32
6.07
4.67
4.01
4.76
Treasury bill rate (3 month)
7.00
7.00
7.00
7.00
6.52
3.00–8.00
3.00–8.00
3.00–5.00
3.00–5.50
3.00–4.75
3.20–5.75
2.50–6.00
2.50–9.25
4.36
1.00–5.00
1.00–5.00
1.00–9.25
4.86
1.00–4.00
1.00–5.00
1.00–7.00
4.12
1.00–5.00
1.00–5.00
1.00–5.50
3.86
1.00–7.00
1.00–6.50
1.00–7.00
3.83
10.50–11.00
10.50–22.00
11.39
10.00–11.00
10.00–23.61
12.82
10.00–11.50
10.20–23.61
11.96
1.87
1.23
1.79
Commercial bank deposit rates
Savings
Time
Up to 3 months
3–6 months
6–12 months
Average deposit rate
Commercial bank lending rates
Prime rate
Effective lending rate
Average lending rate
Memorandum item:
Libor on U.S. dollar six-month
deposits (average)
10.00–11.50 10.00–11.50
10.21–23.61 10.21–29.00
11.39
10.89
3.76
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates.
1/ Break in the data series in 2001.
5.27
14
Table 12. Antigua and Barbuda: Balance of Payments, 2002–06
2002
2003
2004
2005
Prel.
2006
(In millions of U.S. dollars)
Current account
Trade balance
Exports (f.o.b.) 1/
Imports (f.o.b.) 1/
Nonfactor services balance
Of which
Gross tourist receipts
Income (net)
Of which
Interest on public sector debt
Current transfers (net)
-82.4
-269.3
33.6
303.0
222.8
-97.6
-307.6
44.7
352.3
235.4
-67.6
-317.5
57.1
374.6
287.3
-107.5
-334.7
82.4
417.1
261.5
-162.1
-389.7
72.4
462.1
269.1
273.8
-41.4
299.8
-38.7
337.7
-45.7
316.6
-42.4
342.1
-47.8
16.7
5.6
16.5
13.3
19.8
8.3
19.9
8.0
25.0
6.3
Capital Account
Capital grants
Migrant transfers (net)
12.4
9.1
3.3
4.5
1.2
3.3
5.3
2.0
3.3
11.6
7.9
3.7
31.6
27.9
3.7
Financial Account
Official flows
Portfolio liabilities
Public sector loans
Disbursements
Amortization (-)
94.9
15.0
0.0
15.0
38.0
23.0
97.5
17.4
0.0
17.4
44.9
27.5
80.5
-29.1
0.0
-29.1
28.8
57.9
-66.4
-139.2
0.0
-139.2
18.8
158.0
133.6
11.8
26.0
-14.2
2.7
16.9
Nonofficial flows
Foreign direct investment (net)
Portfolio investment (net)
Commercial banks
Other private (net)
79.9
65.9
-2.2
4.7
11.5
80.1
166.3
2.6
-99.5
10.6
109.6
80.4
12.1
16.0
1.1
72.8
116.4
10.5
-18.3
-35.9
121.8
189.9
9.8
-64.5
-13.3
Errors and omissions
-45.1
-9.1
-40.9
14.3
-24.2
Overall balance
-20.2
-4.6
-22.6
-148.0
-21.1
20.2
-7.9
28.1
28.1
0.0
4.6
-26.1
30.7
30.7
0.0
22.6
-6.4
29.0
13.3
15.7
148.0
-7.2
155.2
-38.4
193.6
21.1
-15.3
36.5
36.5
0
-11.5
-12.9
-8.3
-12.4
-16.1
-37.5
42.2
38.1
-40.8
46.7
39.8
-38.8
45.8
41.3
-38.5
47.9
36.4
-38.8
46.0
34.1
Capital account
Financial Account
Of which
Official flows (net)
Direct investment (net)
1.7
13.2
0.6
12.9
0.7
9.8
1.3
-7.6
3.1
13.3
2.1
9.2
2.3
22.1
-3.6
9.8
-16.0
13.4
1.2
18.9
Errors and omissions
-6.3
-1.2
-5.0
1.6
-2.4
Overall balance
-2.8
-0.6
-2.8
-17.0
-2.1
74.3
71.6
65.7
41.3
40.7
9.3
9.5
14.5
32.2
7.3
Financing
Change in imputed reserves (increase -)
Exceptional financing
Increase in arrears
Debt forgiveness
(In percent of GDP)
Current account
Of which
Trade balance
Merchandise imports
Gross tourist receipts
Memorandum items:
External public sector debt 2/ 3/
External public sector debt service
(in percent of exports of goods and services)
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates and
projections.
1/ Based on ECCB estimates. There is a structural break in 2005 owing to introduction of data from ASYCUDA.
2/ Reflects debt relief from Devcon in 2004 and Italy in 2005.
3/ Includes financing gap.
15
Table 13. Antigua and Barbuda: Selected Tourism Statistics, 2002–06
2002
2003
548,833
312,241
18,193
174,719
43,680
642,842
383,834
17,362
193,317
48,329
2005
Prel.
2006
729,653
466,851
17,422
196,304
49,076
864,057
583,673
26,715
202,935
50,734
2004
(Number of visitors)
Total visitors
Cruise-ship
Yacht
Stayovers (staying in hotels)
Private homes and other 1/
808,497
522,753
17,778
214,373
53,593
(Percentage share of visitors)
Total visitors
Cruise ship
Yacht
Stayovers (staying in hotels)
Private homes and other 1/
100.0
56.9
3.3
31.8
8.0
100.0
59.7
2.7
30.1
7.5
100.0
64.7
2.2
26.5
6.6
100.0
64.0
2.4
26.9
6.7
100.0
67.6
3.1
23.5
5.9
-9.8
-10.7
-2.0
-8.4
-8.4
18.4
25.0
53.3
3.4
3.4
316.6
13.4
8.2
266.1
28.9
342.1
17.1
12.9
281.5
30.6
-6.3
-8.6
0.3
-6.3
-6.3
8.1
28.0
56.9
5.8
5.8
(Annual percentage change)
Total visitors
Cruise ship
Yacht
Stayovers (staying in hotels)
Private homes and other 1/
-14.4
-23.6
2.0
1.7
1.7
17.1
22.9
-4.6
10.6
10.6
Total expenditure 2/
Cruise ship
Yacht
Stayovers (staying in hotels)
Private homes and other 1/
273.8
8.7
8.4
231.5
25.2
302.7
10.7
8.0
256.1
27.8
Total expenditure
Cruise ship
Yacht
Stayovers (staying in hotels)
Private homes and other 1/
0.6
-23.6
2.0
1.7
1.7
25.8
36.2
2.4
10.9
10.9
(In millions of U.S. dollars)
337.7
14.6
8.2
284.0
30.9
(Annual percentage change)
10.6
22.9
-4.6
10.6
10.6
11.6
36.2
2.4
10.9
10.9
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Caribbean Tourism Organization.
1/ Arrivals by air and sea not staying in hotels.
2/ Estimated using average expenditure from the 1995 visitor survey carried out by the Caribbean Tourism
Organization.
16
Table 14. Antigua and Barbuda: Air Stayover Arrivals, 2002–07
Prel.
2002
2003
2004
2005
2006
2007
(In thousands of arrivals)
Total
198.1
224.0
245.8
245.4
253.7
Quarter I
January
February
March
56.9
17.7
18.2
21.1
58.1
19.6
19.0
19.5
69.1
22.2
23.3
23.6
75.6
24.9
23.7
27.0
74.2
22.9
24.8
26.4
75.4
22.6
23.3
29.4
Quarter II
April
May
June
47.0
18.0
15.7
13.4
56.6
20.5
19.4
16.7
63.5
28.0
18.6
17.0
59.1
24.6
18.2
16.3
63.0
25.5
19.7
17.8
60.2
22.8
19.6
17.8
Quarter III
July
August
September
43.8
17.0
15.7
11.1
51.8
20.1
19.9
11.7
54.1
23.0
18.1
13.0
51.5
21.4
18.0
12.0
56.4
22.8
20.8
12.9
...
...
...
...
Quarter IV
October
November
December
50.4
14.0
17.8
18.6
57.6
16.0
18.4
23.3
59.0
16.6
18.6
23.9
59.2
17.9
18.4
22.9
60.1
16.7
19.4
24.0
...
...
...
...
(In percent of annual arrivals)
Total
100.0
100.0
100.0
100.0
100.0
...
Quarter I
January
February
March
28.7
8.9
9.2
10.6
25.9
8.8
8.5
8.7
28.1
9.0
9.5
9.6
30.8
10.2
9.7
11.0
29.2
9.0
9.8
10.4
...
...
...
...
Quarter II
April
May
June
23.8
9.1
7.9
6.8
25.3
9.1
8.6
7.5
25.8
11.4
7.5
6.9
24.1
10.0
7.4
6.6
24.8
10.1
7.8
7.0
...
...
...
...
Quarter III
July
August
September
22.1
8.6
7.9
5.6
23.1
9.0
8.9
5.2
22.0
9.3
7.4
5.3
21.0
8.7
7.4
4.9
22.2
9.0
8.2
5.1
...
...
...
...
Quarter IV
October
November
December
25.4
7.1
9.0
9.4
25.7
7.1
8.2
10.4
24.0
6.7
7.5
9.7
24.1
7.3
7.5
9.3
23.7
6.6
7.6
9.5
...
...
...
...
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and
Caribbean Tourism Organization.
17
Table 15. Antigua and Barbuda: Air Stayover Arrivals by Country of Origin, 2001–06
Prel.
2001
2002
2003
2004
2005
2006
(In thousands of arrivals)
Air stayover arrivals 1/
193.2
198.1
219.9
245.6
245.4
253.67
United States
60.2
60.7
64.5
70.4
68.6
73.5
Canada
12.8
10.2
8.6
9.4
9.9
10.1
Europe
78.1
81.8
98.7
113.3
108.7
106.5
Caribbean
34.3
37.4
43.3
48.3
48.4
54.0
7.8
8.0
4.8
4.1
9.8
9.6
Other
(In percent of air stayover arrivals)
United States
31.2
30.6
29.3
28.7
28.0
29.0
Canada
6.6
5.1
3.9
3.8
4.0
4.0
Europe
40.4
41.3
44.9
46.1
44.3
42.0
Caribbean countries
17.7
18.9
19.7
19.7
19.7
21.3
4.0
4.1
2.2
1.7
4.0
3.8
7.8
7.8
Other
(Average length of stay, in days)
Visitors staying in hotels
7.8
7.8
7.8
7.8
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Caribbean Tourism Organization.
1/ Includes stayovers in hotels, private residences, etc.
18
Table 16. Antigua and Barbuda: Visitor Arrivals as a Share of the
Caribbean Area, 2001–05 1/
Prel.
2001
2002
2003
2004
2005
(In thousands, unless otherwise indicated)
Stayover passenger arrivals 2/
Antigua and Barbuda
Caribbean area
Antiguan share of market (in percent)
215
218
242
268
245
16,206
15,736
17,207
18,313
18,647
1.3
1.4
1.4
1.5
1.3
Cruise ship passenger arrivals
Antigua and Barbuda
Caribbean area
Antiguan share of market (in percent)
409
312
384
523
467
13,964
14,347
17,257
18,792
18,106
2.9
2.2
2.2
2.8
2.6
(Annual percentage change)
Stayover passenger arrivals 2/
Antigua and Barbuda
Caribbean area
-6.6
1.7
10.6
10.9
-8.4
-20.7
-2.9
9.3
6.4
1.8
-4.7
-23.6
22.9
36.2
-10.7
2.3
2.7
20.3
8.9
-3.7
Cruise ship passenger arrivals
Antigua and Barbuda
Caribbean area
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Caribbean Tourism
Organization.
1/ Comprising 32 countries and dependent territories monitored by the Caribbean Tourism Organization.
2/ Including stayover arrivals by sea and air.
19
Table 17. Antigua and Barbuda: Public and Publicly Guaranteed External Debt, 2001–06
Prel.
2001
2002
2003
2004
2005
2006
(In millions of U.S. dollars)
Outstanding debt (beginning of year) 1
Central government
Government guaranteed
456.5
416.9
39.7
482.5
444.2
38.4
533.6
493.5
40.1
539.8
493.6
46.2
537.8
493.5
44.2
361.0
315.9
45.1
Disbursements
Central government
Government guaranteed
10.8
9.1
1.7
40.0
36.9
3.1
51.1
41.3
9.8
30.8
27.7
3.2
30.4
11.9
18.5
28.8
28.6
0.3
Cash amortization
Central government 2/
Government guaranteed
12.7
10.4
2.4
11.8
9.4
2.4
10.8
6.9
3.9
41.4
37.0
4.4
28.6
19.6
9.0
8.5
6.0
2.5
Increase in interest arrears
Central government
Government guaranteed 3/
11.1
8.7
2.4
9.9
7.5
2.4
11.2
10.4
0.7
11.2
9.5
1.8
10.0
8.6
1.5
20.7
18.9
1.8
Stock adjustments 4/
Central government
Government guaranteed
16.8
19.9
-3.0
12.9
14.3
-1.4
-45.3
-44.7
-0.6
-2.7
-0.2
-2.5
-188.7
-178.5
-10.2
3.9
3.5
0.4
482.5
444.2
38.4
533.6
493.5
40.1
539.8
493.6
46.2
537.8
493.5
44.2
361.0
315.9
45.1
405.9
360.9
45.0
Scheduled debt-service obligations 3/
Interest
Central government
Guaranteed
Principal
Central government
Guaranteed
41.9
16.9
13.7
3.2
25.1
22.7
2.4
39.7
16.7
13.6
3.2
23.0
20.6
2.4
44.0
16.5
15.2
1.3
27.5
23.5
4.0
77.7
19.8
17.8
2.0
57.9
53.1
4.8
177.9
19.9
18.0
1.9
158.0
154.5
3.5
41.8
25.0
22.7
2.3
16.9
13.4
3.4
Cash payments on debt obligations 2/
Interest
Central government
Government guaranteed
Principal
Central government
Government guaranteed
30.8
5.8
4.9
0.8
25.1
22.7
2.4
29.8
6.8
6.0
0.8
23.0
20.6
2.4
32.8
5.3
4.8
0.5
27.5
23.5
4.0
66.5
8.6
8.3
0.3
57.9
53.1
4.8
167.8
9.9
9.5
0.4
158.0
154.5
3.5
21.2
4.3
3.8
0.5
16.9
13.4
3.4
112.4
71.6
8.3
63.3
40.8
7.7
33.1
140.5
84.8
8.8
76.0
55.7
9.2
46.5
171.2
101.2
7.6
93.6
70.0
10.9
59.1
184.5
113.0
8.8
104.3
71.5
9.8
61.6
146.1
96.3
10.5
85.8
49.8
3.9
45.9
182.6
114.7
11.7
103.0
67.8
10.1
57.8
Outstanding debt (end of year)
Central government
Government guaranteed
Stock of arrears (end of year) 5/
Interest arrears
Guaranteed
Central government
Principal arrears
Guaranteed
Central government
(In percent of total outstanding debt)
Debt by creditor
Multilateral creditors
Bilateral creditors
Commercial creditors
Debt indicators
Scheduled debt service/exports
of goods and services
Scheduled debt service/central
government revenue and grants
Cash payments/scheduled obligations
Debt outstanding/GDP
Of which
Stock of arrears/GDP
Average implied interest rate
1.9
63.9
34.3
1.8
63.0
35.2
3.6
60.8
35.6
4.0
62.3
33.7
6.2
38.9
54.9
6.7
35.7
57.6
9.4
9.3
9.5
14.5
32.2
7.3
30.7
73.5
67.9
25.5
75.1
74.3
27.6
74.6
71.6
44.0
85.6
65.7
93.3
94.4
41.5
16.5
50.6
40.4
15.8
3.5
19.6
3.1
22.7
3.1
22.5
3.7
16.8
5.5
18.2
6.2
Sources: Antigua and Barbuda authorities; Eastern Caribbean Central Bank; and Fund staff estimates.
1/ Including arrears. Debt at beginning of year equals debt outstanding at end of preceding year.
2/ Includes cash payments to the Italian government in 2004–05 and to a commercial supplier in 2004.
3/ For government guaranteed debt, scheduled debt service is assumed to equal cash debt service before 2004, due to data constraints.
4/ Including exchange rate valuation adjustments and other adjustments mainly due to debt relief and rescheduling.
5/ Including interest arrears.
20
Table 18. Antigua and Barbuda: Effective Exchange Rate Indices, 1990–2007
(2000 = 100; period averages)
Real Effective
Exchange Rate
Index
Nominal Effective
Exchange Rate
Index
Consumer
Price
Index 1/
Relative
Price
Index
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
104.6
106.9
105.5
111.7
103.5
99.6
101.3
101.3
105.2
102.4
100.0
101.7
102.3
98.9
95.9
94.9
93.8
91.4
92.5
92.5
98.3
98.3
95.3
96.9
98.9
100.8
99.4
100.0
102.5
102.2
98.9
96.2
96.0
96.1
85.5
90.4
93.2
95.8
91.2
93.3
95.8
96.3
99.8
100.4
100.0
101.6
104.0
106.1
108.2
110.5
112.5
114.5
115.6
114.1
113.7
105.3
104.6
104.5
102.5
104.3
103.1
100.0
99.2
100.1
100.0
99.7
98.8
97.6
2001 I
2001 II
2001 III
2001 IV
101.4
101.9
101.3
102.1
101.8
102.9
102.5
102.7
101.4
101.4
101.5
102.1
99.6
99.1
98.9
99.4
2002 I
2002 II
2002 III
2002 IV
104.2
103.0
100.8
101.1
104.0
102.7
100.9
101.2
103.3
103.9
104.1
104.7
100.3
100.3
100.0
99.9
2003 I
2003 II
2003 III
2003 IV
100.0
99.0
99.3
97.4
100.0
99.3
99.2
97.3
105.6
105.5
106.4
106.8
100.0
99.8
100.1
100.1
2004 I
2004 II
2004 III
2004 IV
96.0
96.8
96.4
94.6
96.1
96.9
96.6
95.3
107.2
108.1
108.6
109.0
99.8
99.9
99.8
99.2
2005 I
2005 II
2005 III
2005 IV
93.9
94.4
95.0
96.1
94.8
95.6
96.4
97.2
109.4
109.9
110.7
112.0
99.1
98.8
98.5
98.9
2006 I
2006 II
2006 III
2006 IV
95.5
93.8
93.1
92.8
96.9
95.9
95.8
95.7
112.3
112.5
112.8
112.4
98.5
97.8
97.3
96.9
2007 I
2007 II
92.1
90.8
95.7
95.3
112.6
112.7
96.2
95.4
Source: IMF, Information Notice System.
1/ Seasonally adjusted.