© 2007 International Monetary Fund
November 2007
IMF Country Report No. 07/368
St. Vincent and the Grenadines: Statistical Appendix
This Statistical Appendix for St. Vincent and the Grenadines 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
December 8, 2006. The views expressed in this document are those of the staff team and do not
necessarily reflect the views of the government of St. Vincent and the Grenadines 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.
To assist the IMF in evaluating the publication policy, reader comments are invited and may be
sent by e-mail to publicationpolicy@imf.org.
Copies of this report are available to the public from
International Monetary Fund ● Publication Services
700 19th Street, N.W. ● Washington, D.C. 20431
Telephone: (202) 623 7430 ● Telefax: (202) 623 7201
E-mail: publications@imf.org ● Internet: http://www.imf.org
Price: $18.00 a copy
International Monetary Fund
Washington, D.C.
INTERNATIONAL MONETARY FUND
ST. VINCENT AND THE GRENADINES
Statistical Appendix
Prepared by a staff team consisting of Paul Cashin, Montfort Mlachila
and Emilio Pineda (all WHD), and Junko Koeda (FIN)
Approved by the Western Hemisphere Department
December 8, 2006
Contents
Page
Basic Data ..................................................................................................................................3
Statistical Appendix Tables
I.
Real Sector
1. Selected Price and Production Indicators ...................................................................5
2. GDP by Type of Expenditure at Current Prices..........................................................6
3. GDP by Economic Activity at Current Factor Cost....................................................7
4. Selected Data on Banana Prices and Production ........................................................8
5. Electricity Consumption .............................................................................................9
6. Petroleum Consumption and Unit Values.................................................................10
7. Prices and Wages ......................................................................................................11
8. Consumer Price Index...............................................................................................12
II. Fiscal Sector
9. Summary of Consolidated Public Sector Operations................................................13
10. Summary of Central Government Operations ..........................................................14
11. Central Government Revenues and Grants...............................................................15
12. Central Government Expenditure and Net Lending .................................................16
13. Central Government Investment Plan.......................................................................17
14. National Insurance Services......................................................................................18
15. Public Enterprise Operations (Including Kingstown Board) ....................................19
16. Operations of Selected Public Enterprises................................................................20
2
III. Monetary Sector
17. Monetary Survey.......................................................................................................21
18. Eastern Caribbean Central Bank Operations ............................................................22
19. Consolidated Balance Sheet of Commercial Banks..................................................23
20. Balance Sheet of Indigenous Commercial Banks.....................................................24
21. Consolidated Balance Sheet of Foreign Commercial Banks ....................................25
22. Distribution of Commercial Bank Lending ..............................................................26
23. Interest Rate Structure of Commercial Banks ..........................................................27
IV. External Sector
24. Summary Balance of Payments ................................................................................28
25. Major Exports ...........................................................................................................29
26. Value, Volume, and Unit Value of Major Agricultural Exports...............................30
27. Exports by Country of Destination ...........................................................................31
28. Merchandise Imports ................................................................................................32
29. Imports by Country of Origin ...................................................................................33
30. Selected Data on Tourism.........................................................................................34
31. Public Sector External Debt......................................................................................35
3
St. Vincent and the Grenadines: Basic Data
I. Social and Demographic Indicators
Area (sq. km)
389
Population
Total (thousands, 2006)
Rate of growth (percent per year, 2006)
Density (per sq. km., 2006)
106.8
0.01
274.6
Population characteristics (2004)
Life expectancy at birth (years)
Infant mortality (per thousand live births)
Under 5 mortality rate (per thousand)
71.3
18
22
Adult illiteracy rate (percent, 2001)
11
Health and nutrition
Calorie intake (per capita a day, 2004)
Population per physician (thousand, 1997)
AIDS incidence rate (per 100,000, 2004)
2,660
1.1
99
Gross domestic product (2005)
(millions of US dollars)
(millions of EC dollars)
(US$ per capita)
430
1,161
4,032
II. Economic Indicators, 2001–05
2001
2002
2003
2004
Est.
2005
(In percent of GDP at factor cost)
Origin of GDP
Agriculture and mining
Manufacturing and construction
Electricity and water
Services
11.4
16.1
6.9
65.6
11.9
14.9
6.8
66.3
11.3
15.3
7.1
66.2
10.1
15.8
7.2
66.9
9.3
15.6
7.6
67.5
(Annual percentage change, unless otherwise stated)
Real GDP (at factor cost)
Real GDP per capita
GDP deflator
Consumer prices (annual average)
Consumer prices (end of period)
-0.1
1.1
2.0
0.8
-0.6
3.2
3.6
2.0
0.8
0.4
2.8
3.0
1.4
0.2
2.7
6.8
6.3
2.3
3.0
1.7
2.2
1.1
2.1
3.7
3.9
(In percent of GDP)
National account
Gross domestic investment
Of which
Public investment
Gross national savings
External savings
Private consumption
Public consumption
Public finances
Central government
Total revenue and grants
Current revenue
Total expenditure
Current expenditure
Of which
Interest
Capital expenditure
Savings
Primary balance
Overall balance
Consolidated public sector
Current balance
Capital expenditure
Overall balance
29.4
32.2
36.8
39.1
39.0
8.7
19.0
10.4
61.2
19.9
10.0
20.7
11.5
58.3
20.9
10.0
16.1
20.8
64.5
19.4
13.1
14.0
25.1
66.6
19.4
13.0
15.0
24.0
65.5
19.5
30.7
28.7
32.8
27.7
31.7
30.6
34.0
28.0
31.3
30.8
34.7
26.7
30.0
29.2
33.6
26.3
30.5
29.0
36.1
27.8
2.6
5.0
1.0
0.5
-2.1
2.6
6.4
2.6
-1.6
-4.2
2.7
7.9
4.1
-0.6
-3.3
2.5
7.2
2.9
-1.1
-3.6
3.0
8.3
1.2
-2.6
-5.6
4.5
8.7
-0.6
5.8
10.0
-5.8
6.5
10.0
-3.0
5.9
13.1
-6.4
4.2
13.0
-7.3
4
St. Vincent and the Grenadines: Basic Data
2001
2002
2003
2004
Est.
2005
(Percent contribution to growth in broad money,
unless otherwise indicated) 1/
Money and credit
Liabilities to the private sector (broad money)
Of which
Money
Quasi money
Net domestic assets
Net credit to the public sector
Credit to the private sector
Other assets (net)
Liabilities to the private sector (in percent of GDP)
3.0
8.3
1.9
13.7
6.4
3.3
2.9
7.2
0.3
2.1
8.3
70.2
9.1
7.9
5.4
4.8
4.3
-4.6
71.9
6.1
-0.3
-3.9
-4.0
0.6
-0.2
70.0
13.1
14.0
-2.0
2.7
0.8
-10.0
74.6
14.2
2.2
11.0
7.6
4.3
0.3
75.3
(In millions of U.S. dollars, unless otherwise stated)
Balance of payments
Current account balance
Merchandise trade balance
Exports
Imports
Service balance
-35.9
-109.2
42.8
152.0
77.1
-42.0
-116.5
41.2
157.8
80.0
-79.5
-136.7
40.1
176.8
68.2
-102.5
-159.7
39.3
199.0
72.0
-103.2
-161.9
41.4
203.3
74.6
Capital and financial account
Errors and omissions
58.5
-19.8
25.9
9.4
63.4
15.6
111.8
16.1
99.4
1.0
Exports of goods and nonfactor services (in percent of GDP)
Imports of goods and nonfactor services (in percent of GDP)
Current account (in percent of GDP)
Terms of trade (annual percentage change)
Real effective exchange rate (e.o.p. percentage change)
50.9
60.2
-10.4
2.9
-0.1
48.8
58.8
-11.5
2.6
-5.4
45.2
63.1
-20.8
-4.9
-5.9
45.2
66.7
-25.1
0.0
-4.6
44.4
64.7
-24.0
-4.3
4.9
68.2
49.1
6.7
70.5
46.5
6.5
72.3
50.9
7.3
78.1
54.1
10.0
81.6
54.7
11.5
3.0
2.6
2.5
3.1
4.1
Public debt
Total public sector debt in percent of GDP
Outstanding public external debt in percent of GDP
External public debt service (in percent of exports of goods and services)
Of which
Interest
IMF data (as of October 31, 2006)
Membership status:
Intervention currency and rate
Quota
Fund holdings of local currency
As percent of quota
Outstanding purchases and loans
Special Drawing Rights Department
Cumulative SDR allocation
Holdings of SDRs
Article VIII status
EC$2.7 per US$
SDR 8.3 million
SDR 7.8 million
94.0
0.01
SDR 0.35 million
SDR 0.01 million
Sources: St. Vincent and the Grenadines authorities; Eastern Caribbean Central Bank (ECCB); CIA World Factbook; World Bank; and Fund
staff estimates.
1/ In relation to banking system liabilities to the private sector at the beginning of the period.
5
Table 1. St. Vincent and the Grenadines: Selected Price and Production Indicators
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Nominal GDP (at market prices)
Real GDP (at factor cost)
933
612
987
632
1,032
650
1,101
694
1,161
709
(Annual percentage change)
Nominal GDP (at market prices)
Real GDP (at factor cost)
Agriculture, forestry and fishing
Manufacturing
Electricity and water
Construction
Wholesale and retail trade
Hotels and restaurants
Transport
Communications
Banks and insurance
Real estate and housing
Government services
GDP deflator (at factor cost)
Consumer prices (end of period)
Consumer prices (period average)
3.1
-0.1
-7.7
5.6
11.2
7.1
3.4
-3.0
1.1
-12.2
-7.6
1.5
2.5
5.8
3.2
7.8
-6.1
2.6
-2.9
3.1
-8.0
6.2
4.5
10.1
1.5
3.7
4.6
2.8
-2.2
-2.9
4.0
6.0
3.5
2.0
2.0
4.0
4.0
1.5
0.1
6.7
6.8
-4.9
3.3
7.1
14.7
9.8
7.3
10.1
19.3
3.1
1.5
2.5
5.5
2.2
-6.0
2.1
8.4
0.4
2.8
10.6
-6.7
9.2
4.4
1.5
6.2
2.0
-0.6
0.8
2.0
0.4
0.8
1.4
2.7
0.2
2.3
1.7
3.0
2.1
3.9
3.7
Sources: Ministry of Finance and Planning; and Fund staff estimates.
6
Table 2. St. Vincent and the Grenadines: GDP by Type of Expenditure at Current Prices
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Consumption expenditure
Private sector
Public sector
756
570
185
782
576
207
867
666
201
947
734
213
987
760
227
Gross capital formation
Public sector
Private sector
274
81
193
318
99
219
380
104
277
431
144
287
453
151
301
1,030
1,100
1,247
1,378
1,440
-97
475
115
360
-562
-410
-151
-113
481
111
370
-580
-426
-154
-215
467
108
358
-652
-477
-174
-277
498
106
392
-735
-537
-198
-279
516
112
404
-752
-549
-203
933
987
1,032
1,101
1,161
Gross domestic expenditure
Foreign balance
Exports of goods and nonfactor services
Export of goods
Export of nonfactor services
Imports of goods and nonfactor services
Import of goods
Import of nonfactor services
Nominal GDP (at market prices)
(In percent of nominal GDP)
Consumption expenditure
Private sector
Public sector
81.0
61.2
19.9
79.3
58.3
20.9
84.0
64.5
19.4
86.0
66.6
19.4
85.0
65.5
19.5
Gross capital formation
Public sector
Private sector
29.4
8.7
20.7
32.2
10.0
22.2
36.8
10.0
26.8
39.1
13.1
26.1
39.0
13.0
26.0
Gross domestic expenditure
110.4
111.5
120.8
125.1
124.0
Foreign balance
Exports of goods and nonfactor services
Imports of goods and nonfactor services
-10.4
50.9
-60.2
-11.5
48.8
-58.8
-20.8
45.2
-63.1
-25.1
45.2
-66.7
-24.0
44.4
-64.7
Nominal GDP (at market prices)
100.0
100.0
100.0
100.0
100.0
(Annual percentage change)
Consumption expenditure
Private sector
Public sector
Gross fixed capital
Public sector
Private sector
Gross domestic expenditure
Foreign balance
Exports of goods and nonfactor services
Imports of goods and nonfactor services
Nominal GDP (at market prices)
4.8
5.5
2.7
3.5
0.9
11.4
10.8
15.7
-2.9
9.3
10.1
6.5
4.2
3.6
6.3
10.9
26.0
5.6
16.0
22.3
13.3
19.7
4.7
26.5
13.3
38.9
3.8
5.1
5.3
5.0
6.4
6.8
13.4
10.5
4.5
-52.1
-1.9
4.0
-16.8
1.4
3.3
-89.4
-3.1
12.4
-29.0
6.7
12.8
-0.7
3.6
2.3
3.1
5.8
4.6
6.7
5.5
Sources: Ministry of Finance and Planning; and Fund staff estimates.
7
Table 3. St. Vincent and the Grenadines: GDP by Economic Activity at Current Factor Cost
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Primary sector
Agriculture
Banana
Other crops
Livestock
Forestry
Fishing
Mining and quarrying
77
75
20
34
6
5
10
2
82
81
24
38
6
5
8
2
77
75
14
39
6
5
10
2
78
76
16
39
6
5
10
2
81
79
14
45
6
6
8
2
Secondary sector
Manufacturing
Electricity and water
Construction
196
53
51
92
197
55
50
93
207
50
56
101
231
54
59
117
238
55
63
120
Tertiary sector
Wholesale and retail trade
Hotels and restaurants
Transport
Communications
Banks and insurance
Real estate and housing
Government services
Other services
Less: imputed service charge
504
144
18
107
44
56
19
150
15
49
538
150
17
112
50
63
19
163
16
52
569
157
19
118
49
81
20
162
18
55
623
177
21
131
59
87
21
172
19
63
653
189
23
122
61
92
21
189
21
65
Nominal GDP at current factor cost
777
817
852
931
972
(In percent of GDP)
Primary sector
Agriculture
Banana
Other crops
Livestock
Forestry
Fishing
Mining and quarrying
9.9
9.6
2.6
4.3
0.7
0.7
1.3
0.2
10.1
9.9
2.9
4.6
0.7
0.7
1.0
0.2
9.0
8.8
1.7
4.6
0.7
0.6
1.2
0.2
8.4
8.2
1.7
4.2
0.7
0.6
1.0
0.2
8.4
8.1
1.4
4.7
0.6
0.6
0.9
0.2
Secondary sector
Manufacturing
Electricity and water
Construction
25.3
6.8
6.6
11.9
24.1
6.7
6.1
11.3
24.2
5.8
6.6
11.8
24.8
5.8
6.4
12.6
24.5
5.7
6.5
12.3
Tertiary sector
Wholesale and retail trade
Hotels and restaurants
Transport
Communications
Banks and insurance
Real estate and housing
Government services
Other services
Less: imputed service charge
64.9
18.6
2.3
13.8
5.6
7.2
2.4
19.3
2.0
6.3
65.8
18.3
2.1
13.7
6.1
7.7
2.4
19.9
2.0
6.3
66.8
18.4
2.3
13.9
5.7
9.5
2.3
19.0
2.1
6.4
66.8
19.0
2.2
14.1
6.3
9.4
2.2
18.5
2.0
6.8
67.2
19.4
2.4
12.5
6.3
9.5
2.2
19.5
2.1
6.7
Nominal GDP at market prices
100.0
100.0
100.0
100.0
100.0
Sources: Ministry of Finance and Planning; and Fund staff estimates.
8
Table 4. St. Vincent and the Grenadines: Selected Data on Banana Prices and Production
2001
2002
2003
2004
Est.
2005
Volume exported (metric tons) 1/
33,880
37,550
26,686
24,402
19,385
Export earnings (thousands EC$) 1/
Export earnings (thousands US$)
Percentage of exports of goods and services
36,942
13,682
7.8
42,837
15,866
8.9
32,026
11,861
6.9
30,776
11,399
6.2
26,548
9,833
5.1
0.502
0.390
0.523
0.395
0.559
0.370
0.572
0.370
0.621
0.370
85
85
85
85
85
Banana Growers’ Association price (EC$/lb) 2/
Price received by growers (EC$/lb)
Quality (Southhampton PUWs) 3/
(Annual percentage change)
Export earnings (EC$)
Volume exported
BGA price (EC$/lb)
-25.4
-22.6
8.1
16.0
10.8
4.1
Sources: Banana Growers Association; FAO; and Fund staff estimates.
1/ Banana Growers Association only.
2/ Price received by the Banana Growers Association from WIBDECO.
3/ Percentage units within specification.
-25.2
-28.9
6.9
-3.9
-8.6
2.3
-13.7
-20.6
8.6
9
Table 5. St. Vincent and the Grenadines: Electricity Consumption
2001
2002
2003
2004
Est.
2005
(In thousands of kwh)
Total generated
Commercial consumption
Domestic consumption
Industrial consumption
Street lighting consumption
Other consumption
Public authorities
Transmission loss
107,402
40,678
42,421
6,964
2,267
2,288
...
12,784
108,029
40,701
44,790
6,500
2,580
1,957
...
11,501
112,440
35,190
47,378
6,520
2,724
3,394
7,101
10,133
121,413
47,093
50,512
6,247
2,796
3,834
...
10,931
131,851
44,014
53,687
6,309
2,881
4,264
9,528
11,168
Number of consumers
Electricity consumption
per consumer
31,615
32,662
33,760
34,651
35,704
3.4
3.3
3.0
3.2
3.4
Net generation
Loss (percent of generation)
94,618
11.9
96,528
10.6
102,307
9.0
117,579
9.0
120,683
8.5
(In percent of total)
Total generated
Commercial
Domestic
Industrial
Street lighting
Other
Transmission loss
100.0
37.9
39.5
6.5
2.1
2.1
11.9
100.0
37.7
41.5
6.0
2.4
1.8
10.6
Source: St. Vincent Electricity Services Limited (VINLEC).
100.0
31.3
42.1
5.8
2.4
3.0
9.0
100.0
38.8
41.6
5.1
2.3
3.2
9.0
100.0
33.4
40.7
4.8
2.2
3.2
8.5
10
Table 6. St. Vincent and the Grenadines: Petroleum Consumption and Unit Values 1/
2001
2002
2003
2004
Est.
2005
(Value in thousands of Eastern Caribbean dollars, quantities
in cubic metres, and unit values in EC$ per cubic metre)
Gasoline
Value
Cubic metre
Unit values
12,712
24,075
528
11,944
25,572
467
14,333
24,775
579
18,834
26,715
705
22,865
24,755
924
Diesel
Value
Cubic metre
Unit values
23,313
41,001
569
20,751
42,511
488
29,560
49,720
595
36,242
54,627
663
52,515
48,731
1,078
Kerosene
Value
Cubic metre
Unit values
279
479
582
227
518
438
231
444
520
208
288
722
416
400
1,040
5,104
3,562
1,433
5,118
5,435
942
5,699
3,566
1,598
7,644
4,121
1,855
8,930
3,518
2,538
Butane
Value
Metric tonnes
Unit values
(Annual percentage change of consumption)
Gasoline
Diesel
Kerosene
Natural gas
7.2
16.2
32.0
-9.8
Source: Ministry of Finance and Planning.
1/ Prices at end of period.
6.2
3.7
8.1
52.6
-3.1
17.0
-14.3
-34.4
7.8
9.9
-35.1
15.6
-7.3
-10.8
38.9
-14.6
11
Table 7. St. Vincent and the Grenadines: Prices and Wages
(Annual percentage change)
2001
2002
2003
2004
Est.
2005
I. Consumer Prices 1/
January
February
March
April
May
June
July
August
September
October
November
December
Average
0.7
0.2
1.0
2.8
0.3
0.2
1.1
0.7
1.3
0.9
1.7
-0.6
1.9
1.8
1.7
1.4
0.2
0.1
-0.7
0.0
1.4
1.8
-0.3
0.4
-0.8
-1.2
-1.9
-1.7
-0.2
1.1
1.6
1.3
-0.8
0.0
2.8
2.7
3.4
2.6
4.1
4.2
3.1
2.4
2.4
2.5
3.8
3.3
2.0
1.7
1.7
3.2
3.1
3.9
4.5
4.8
4.8
4.3
3.1
3.6
3.8
3.9
0.8
0.8
0.2
3.0
3.7
II. Wages
Central government 2/
Public enterprises 3/
Private sector
Geest, and Cable and Wireless
3.5
3.5
0.0
3.0
0.0
3.8
4.0
…
4.5
4.5
4.0
4.0
4.0
…
...
Sources: Ministry of Finance and Planning; Labor Commission; Ministry of Agriculture, Industry,
and Labor; and various public enterprises.
1/ The CPI is based on 2001.
2/ Central government wages were frozen in 2002 and 2003.
3/ Wage adjustments in four major public enterprises.
12
Table 8. St. Vincent and the Grenadines: Consumer Price Index
2001
2002
2003
2004
2005
105.0
105.8
105.3
97.2
102.8
107.7
102.6
...
...
106.3
105.3
121.8
96.6
113.3
...
109.1
112.1
109.8
97.9
103.7
126.1
99.6
...
...
107.7
103
123.7
101.3
114.3
(January 2001=100)
End of period
Food
Alcoholic beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Household furniture and supplies
Furniture and domestic appliances
Household supplies
Medical care and expenses
Transport and communication
Education
Personal services
Miscellaneous
Other 1/
100.1
101.2
100.4
98.0
101.1
100.0
96.3
...
...
104.2
100.4
97.6
97.9
111.3
...
100.5
99.2
103.2
98.0
103.6
100.5
92.8
...
...
104.2
100.4
121.7
99.0
111.4
...
103.2
103.7
101.3
98.0
103.6
100.2
97.0
...
...
106.7
103.3
121.7
96.6
109.8
...
(Percentage change)
End of period
Food
Alcoholic beverages and tobacco
Clothing and footwear
Housing
Fuel and light
Household furniture and supplies
Furniture and domestic appliances
Household supplies
Medical care and expenses
Transport and communication
Education
Personal services
Miscellaneous
Other 1/
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
0.4
-2.0
2.8
0.0
2.5
0.5
-3.6
...
...
0.0
0.0
24.7
1.1
0.1
...
2.7
4.5
-1.8
0.0
0.0
-0.3
4.5
...
...
2.4
2.9
0.0
-2.4
-1.4
...
1.7
2.0
3.9
-0.8
-0.8
7.5
5.8
...
...
-0.4
1.9
0.1
0.0
3.2
...
Sources: Statistical Office, Central Planning Division, Ministry of Finance and Planning.
1/ Including medical, education, recreation, personal, and miscellaneous.
3.9
6.0
4.3
0.7
0.9
17.1
-2.9
...
...
1.3
-2.2
1.6
4.9
0.9
...
13
Table 9. St. Vincent and the Grenadines: Summary of Consolidated Public Sector Operations
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Total revenue and grants
Current revenue
Central government current revenue
Operating balance 1/
Capital revenue (land sales only)
Grants
319
301
268
33
1
17
345
333
302
32
1
11
348
343
318
25
1
5
363
355
322
33
1
8
390
371
336
35
1
17
Total expenditure
Current expenditure
Capital
Central government
National Insurance Services
Rest of the public sector 1/
340
259
81
47
14
20
375
276
99
63
6
30
379
276
104
82
0
21
434
290
144
80
6
58
474
322
151
97
7
48
Overall balance (above the line)
Other 2/
-20
-15
-30
27
-31
0
-71
0
-84
0
-6
-58
-31
-71
-84
42
21
57
-30
67
-3
65
-38
49
-42
6
31
48
17
0
-37
2
1
12
58
3
22
19
0
53
31
1
1
31
47
69
22
2
-32
-28
1
14
71
71
105
35
2
-2
19
0
0
84
64
102
38
0
20
62
0
0
Overall balance (cash basis)
Of which
Savings
Primary balance
Identified financing
Net external financing
Disbursements
Amortization
Change in government foreign assets
Net domestic financing
Banking system
Exceptional financing
Sale of assets
(In percent of GDP)
Total revenue and grants
Current revenue
Total expenditure
Current expenditure
Capital
34.2
32.3
36.4
27.7
8.7
34.9
33.8
38.0
28.0
10.0
33.7
33.2
36.8
26.7
10.0
33.0
32.2
39.4
26.3
13.1
33.5
32.0
40.8
27.8
13.0
Overall balance (above the line)
Overall balance (cash basis)
-2.2
-0.6
-3.1
-5.8
-3.0
-3.0
-6.4
-6.4
-7.3
-7.3
Savings
Primary balance
4.5
2.3
5.8
-3.1
6.5
-0.3
5.9
-3.4
4.2
-3.6
Net external financing
Net domestic financing
3.3
-4.0
0.3
5.4
4.5
-3.1
6.4
-0.2
5.5
1.7
Memorandum items:
Gross public sector debt, percent of GDP 3/
GDP at market prices, EC$ millions
68.2
933
70.5
987
72.3
1,032
78.1
1,101
81.6
1161
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ Operating balances for the National Insurance Services and ten nonfinancial public enterprises.
2/ The difference between the overall balance as measured from above the line and from below the line.
3/ Net of intra-public sector debt (mainly central government debt to the NIS).
14
Table 10. St. Vincent and the Grenadines: Summary of Central Government Operations
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Total revenue and grants
Current revenue
Tax revenue
Income
Property
Goods and services
International trade transactions
Nontax revenue
Capital revenue
Grants
286
268
231
71
3
45
112
38
1
17
313
302
260
88
3
43
127
42
1
11
324
318
260
77
3
47
133
58
1
5
331
322
274
79
3
54
138
48
1
8
354
336
308
90
3
74
142
28
1
17
Total expenditure
Current expenditure
Wages and salaries 1/
Other goods and services
Interest payments
Domestic
Foreign
Central government transfers
Capital expenditure
Net lending
306
259
132
53
25
12
13
49
47
0
336
276
143
64
26
15
11
43
63
-4
358
276
139
61
28
17
11
48
82
0
370
290
147
67
28
13
14
49
80
0
419
322
159
68
35
15
20
61
97
0
Overall balance
Other 3/
-19
0
-22
19
-34
0
-39
0
-65
0
Overall balance
Of which
Savings
Primary balance
-20
-41
-34
-39
-65
9
5
26
-15
42
-7
32
-12
14
-30
33
46
13
0
-14
-18
4
1
3
20
16
0
37
42
-5
1
46
65
19
2
-26
-39
13
1
71
105
35
2
-33
-41
8
0
37
74
37
0
28
69
-41
0
Total revenue and grants
Current revenue
Tax revenue
Nontax revenue
Capital revenue
Grants
30.7
28.7
24.7
4.0
0.1
1.9
31.7
30.6
26.3
4.3
0.1
1.1
31.3
30.8
25.2
5.7
0.1
0.4
30.0
29.2
24.9
4.3
0.1
0.7
30.5
29.0
26.5
2.4
0.1
1.5
Total expenditure
Current expenditure
Wages and salaries 1/
Other goods and services
Domestic interest payments
Foreign interest payments
Transfers
Capital expenditure
Net lending
32.8
27.7
14.2
5.7
1.3
1.3
5.2
5.0
0.0
34.0
28.0
14.5
6.5
1.5
1.1
4.4
6.4
-0.4
34.7
26.7
13.5
6.0
1.6
1.1
4.6
7.9
0.0
33.6
26.3
13.3
6.1
1.2
1.3
4.5
7.2
0.0
36.1
27.8
13.7
5.8
1.3
1.7
5.2
8.3
0.0
Overall balance
Other 3/
-2.1
0.0
-2.3
1.9
-3.3
0.0
-3.6
0.0
-5.6
0.0
Overall balance
Of which
Savings
Primary balance
-2.1
-4.2
-3.3
-3.6
-5.6
1.0
0.5
2.6
-1.6
4.1
-0.6
2.9
-1.1
1.2
-2.6
3.5
-1.5
0.3
3.7
4.5
-2.5
6.4
-3.0
3.2
2.4
Financing
External (net)
Drawings
Amortization
Change in government foreign assets
Domestic (net)
Banking system
Nonbanking 2/
Exceptional financing (interest moratorium)
(In percent of GDP)
Financing
External (net)
Domestic (net)
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ Including employer's contribution to the National Insurance Services (NIS).
2/ Including bond issues purchased by the private sector and the change in domestic sinking fund holdings.
3/ The difference between the overall balance as measured from above the line and from below the line.
15
Table 11. St. Vincent and the Grenadines: Central Government Revenues and Grants
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Total revenue and grants
Current revenue
Tax revenue
Income
Individual
Corporate
Withholding
Property
Goods and services
Consumption tax (local)
Excise duties
Commercial bank interest levy
Licenses
Other
International trade and transactions
Import duties
Consumption duties (imports)
Travel tax
Customs service charge
Other
Nontax revenue
Departmental enterprises
Dividends
ECCB profits
Interest and rent
Fees, fines, and sales
Other
Capital revenue (land sales only)
Grants
286
268
231
71
34
33
4
3
45
6
2
8
11
17
112
25
65
1
17
4
38
0
0
0
8
14
16
1
17
313
302
260
88
35
45
8
3
43
6
2
8
13
14
127
26
78
1
18
4
42
0
0
0
10
16
17
1
11
324
318
260
77
35
38
4
3
47
6
2
9
13
18
133
29
79
1
19
4
58
0
0
0
15
15
29
1
5
331
322
274
79
37
37
4
3
54
7
2
9
18
18
138
30
81
1
21
5
48
0
0
0
7
13
27
1
8
354
336
308
90
41
44
4
3
74
6
2
8
18
39
142
33
80
1
22
6
28
0
0
0
6
15
11
1
17
30.0
29.2
24.9
7.2
0.2
4.9
12.6
4.3
0.1
0.7
30.5
29.0
26.5
7.7
0.2
6.4
12.3
2.4
0.1
1.5
(In percent of GDP)
Total revenue and grants
Current revenue
Tax revenue
Income
Property
Goods and services
International trade transactions
Nontax revenue
Capital revenue (land sales only)
Grants
30.7
28.7
24.7
7.6
0.4
4.8
12.0
4.0
0.1
1.9
31.7
30.6
26.3
8.9
0.3
4.3
12.8
4.3
0.1
1.1
Sources: Ministry of Finance and Planning; and Fund staff estimates.
31.3
30.8
25.2
7.5
0.3
4.6
12.9
5.7
0.1
0.4
16
Table 12. St. Vincent and the Grenadines: Central Government Expenditure and Net Lending
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Total expenditure and net lending
306
336
358
370
419
Current expenditure
Wages and salaries 1/
Salaries
Wages
NIS contribution
Other goods and services
Interest payments
Domestic
Foreign
Central government transfers
Households
Net lending
259
132
115
14
4
53
25
12
13
49
28
0
276
143
124
14
4
64
26
15
11
43
25
-4
276
139
121
14
5
61
28
17
11
48
9
0
290
147
126
17
4
67
28
13
14
49
0
0
322
159
136
18
5
68
35
15
20
61
44
0
33.6
26.3
13.3
11.4
1.5
0.4
6.1
2.5
1.2
1.3
4.5
0.0
7.2
0.0
36.1
27.8
13.7
11.7
1.6
0.4
5.8
3.0
1.3
1.7
5.2
3.8
8.3
0.0
(In percent of GDP)
Total expenditure
Current expenditure
Wages and salaries 1/
Salaries
Wages
NIS contribution
Other goods and services
Interest payments
Domestic
Foreign
Central government transfers
Households
Capital expenditure
Net lending
32.8
27.7
14.2
12.3
1.5
0.4
5.7
2.6
1.3
1.3
5.2
3.0
5.0
0.0
34.0
28.0
14.5
12.6
1.4
0.4
6.5
2.6
1.5
1.1
4.4
2.6
6.4
-0.4
34.7
26.7
13.5
11.7
1.3
0.4
6.0
2.7
1.6
1.1
4.6
0.9
7.9
0.0
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ Salaries and wages including social security contributions, commissions, rewards, allowances,
and incentives.
5.0
46.7
63.3
17.3
46.0
-16.5
46.7
3.7
0.0
0.3
0.8
20.1
7.6
0.6
0.0
0.0
5.6
8.1
15.0
148.4
73.3
33.6
39.8
75.1
148.4
10.9
0.0
27.0
0.0
24.7
21.5
5.4
0.0
14.5
22.3
22.2
6.4
63.3
30.0
10.5
19.5
33.3
63.3
4.8
0.0
0.2
1.1
19.2
6.0
1.9
0.0
0.0
7.8
22.4
...
42.7
40.9
31.3
49.1
44.4
42.7
43.6
0.0
0.6
...
77.8
28.1
35.2
0.0
0.0
35.0
100.7
2002
Budget Actual Rate 2/
16.5
169.2
103.4
46.2
57.3
65.7
169.2
13.3
0.0
42.5
1.7
32.7
15.1
5.1
0.0
16.0
23.0
19.9
Budget
8.0
82.0
70.0
5.0
65.0
12.0
82.0
15.4
0.6
0.0
5.0
20.8
7.2
4.4
0.6
0.0
5.0
40.9
...
48.5
67.7
10.8
113.5
18.3
48.5
116.3
0.0
0.0
296.0
63.5
47.9
87.2
0.0
0.0
21.9
205.8
2003
Prel. Rate 2/
1/ The Public Sector Investment Plan (PSIP) includes central government and some government guaranteed projects.
2/ Rate of implementation (in percent).
...
35.3
67.3
34.2
105.8
-43.0
35.3
30.8
0.0
100.0
15.2
59.7
33.4
9.5
0.0
0.0
45.2
0.0
Sources: Ministry of Finance and Planning; and Fund staff estimates.
14.2
132.5
94.0
50.5
43.5
38.5
Total financing
External
Grants
Loans
Local (residual)
Memorandum item:
CGIP in percent of GDP
132.5
12.0
0.0
0.3
5.1
33.7
22.6
6.6
16.8
22.9
12.4
0.0
Total investment
Agriculture, forestry and fisheries
Manufacturing, quarrying and construction
Energy
Tourism
Transport and communication
Education and training
Health and sanitation
Water and sewerage
Housing
Social development
Other
2001
Budget Actual Rate 2/
(In millions of Eastern Caribbean dollars)
12.8
139.8
65.2
35.7
29.5
74.6
139.8
15.9
1.9
0.0
1.2
32.0
24.2
7.4
0.1
0.0
12.7
44.4
Budget
7.3
80.2
113.0
7.7
105.3
-32.8
80.2
8.2
0.3
0.0
1.0
16.5
13.0
5.3
0.1
0.0
5.9
29.9
...
57.4
173.3
21.5
356.6
-44.0
57.4
51.6
0.0
0.0
83.3
51.6
53.7
71.6
70.0
0.0
46.5
67.4
2004
Prel. Rate 2/
Table 13. St. Vincent and the Grenadines: Central Government Investment Plan (CGIP) 1/
17.8
207.0
145.1
54.9
90.1
61.9
207.0
12.7
4.5
0.3
2.4
88.5
39.5
13.9
5.8
4.1
9.8
25.5
Budget
8.3
96.7
91.0
17.2
73.8
5.7
96.7
5.4
1.1
0.0
0.7
26.7
25.5
2.2
4.1
1.8
6.3
23.1
...
46.7
62.7
31.3
81.9
9.2
46.7
42.1
23.5
0.0
30.4
30.1
64.4
15.6
71.1
43.1
64.5
90.5
2005
Prel. Rate 2/
17
18
Table 14. St. Vincent and the Grenadines: National Insurance Services
2001
2002
2003
2004
2005
(In millions of Eastern Caribbean dollars)
Total current receipts
Contribution receipts
Investment income
32.6
18.0
14.6
33.8
18.9
14.9
35.9
20.2
15.7
39.4
21.5
17.8
41.2
23.4
17.8
Total expenditure
Benefits and refunds
Operating expenditure
Capital expenditure
26.8
9.8
3.3
13.8
21.1
11.7
3.3
6.0
15.7
12.3
3.3
0.1
24.0
14.1
3.5
6.4
20.0
15.4
4.6
0.0
Current account balance
Overall balance
19.6
5.8
18.8
12.8
20.3
20.2
21.8
15.4
21.2
21.2
13.2
23.8
-10.6
-19.0
-2.3
15.0
-17.3
-10.5
3.7
-32.7
36.4
-23.9
37.1
22.5
14.7
-52.5
18.5
-61.9
80.3
-39.6
Financing
Commercial banks
Deposits at foreign banks
Deposits at local banks
Other 1/
(In percent of GDP)
Total current receipts
Contribution receipts
Investment income
3.5
1.9
1.6
3.4
1.9
1.5
3.5
2.0
1.5
3.6
2.0
1.6
3.5
2.0
1.5
Total expenditure
Benefits and refunds
Operating expenditure
Capital expenditure
2.9
1.0
0.3
1.5
2.1
1.2
0.3
0.6
1.5
1.2
0.3
0.0
2.2
1.3
0.3
0.6
1.7
1.3
0.4
0.0
Current account balance
Overall balance
2.1
0.6
1.9
1.3
2.0
2.0
2.0
1.4
1.8
1.8
Financing
Commercial banks
Other 1/
-0.6
1.4
-2.0
-1.3
-0.2
-1.1
-2.0
0.4
-2.3
-1.4
3.4
-4.8
-1.8
1.6
-3.4
Memorandum items:
Ratio of operating expenses to
contributions, in percent
Contribution, percent change
Benefit and refunds, percent change
Fund ratio
18.0
6.1
15.3
14.3
17.7
4.8
20.3
...
16.3
6.9
4.7
...
16.3
6.7
14.5
...
19.7
8.6
9.1
...
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ Includes investments on the Regional Government Securities Market (RGSM).
19
Table 15. St. Vincent and the Grenadines: Public Enterprise Operations (Including Kingstown Board)
2001
2002
2003
2004
Est.
2005
(In millions of Eastern Caribbean dollars)
Total receipts
112.9
120.1
133.8
139.4
145.5
Total expenditure
Current expenditure
Interest
Capital expenditure
120.2
99.9
2.6
20.4
136.8
107.2
1.4
29.6
150.8
129.3
0.7
21.5
193.9
136.1
5.3
57.8
198.4
143.7
7.3
54.7
-7.3
-16.7
-17.0
-54.5
-52.9
-14.8
8.5
0.0
-7.6
-31.8
7.5
-25.2
-17.0
-46.9
-40.7
13.1
10.1
12.9
-23.8
4.5
-16.3
3.3
-41.6
1.9
-33.4
-7.5
-2.1
2.0
4.1
-17.2
6.5
-23.7
11.8
25.2
-0.5
2.4
2.8
25.1
-8.4
33.4
0.6
17.0
0.5
4.0
3.5
3.0
7.0
-4.1
13.5
46.9
0.0
0.0
0.0
46.9
23.6
23.3
0.0
21.1
27.2
28.7
1.5
-6.1
-24.9
18.8
0.0
Overall balance
Other 1/
Overall balance (cash basis)
Of which
Current balance
Primary balance
Financing
External (net)
Drawings
Amortization
Domestic (net)
Banking system
Other domestic (net)
Sale of assets
(In percent of GDP)
Total receipts
12.1
12.2
13.0
12.7
12.5
Total expenditure
Current expenditure
Interest
12.9
10.7
0.3
2.2
13.9
10.9
0.1
3.0
14.6
12.5
0.1
2.1
17.6
12.4
0.5
5.2
17.1
12.4
0.6
4.7
-0.8
-1.6
-1.7
0.9
-1.6
0.0
-5.0
-0.7
-4.6
-2.7
0.8
-2.6
-1.6
-4.3
-3.5
1.4
1.1
1.3
-2.4
0.4
-1.6
0.3
-3.8
0.2
-2.9
-0.2
-1.8
0.0
2.5
0.1
0.3
0.0
4.3
2.3
-0.5
Capital expenditure
Overall balance
Other 1/
Overall balance (cash basis)
Of which
Current balance
Primary balance
External (net)
Domestic (net)
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ The difference between the overall balance as measured from above the line and from below the line.
20
Table 16. St. Vincent and the Grenadines: Operations of Selected Public Enterprises
(In millions of Eastern Caribbean dollars)
2001
2002
2003
2004
Est.
2005
A. Kingstown Board
Total receipts
2.8
3.1
3.0
2.5
2.4
Total expenditure
Current expenditure
Capital expenditure
4.0
3.0
1.0
5.0
4.0
1.0
3.4
3.4
0.0
3.6
3.6
0.0
3.4
3.4
0.0
Current account balance
-0.2
-1.0
-0.4
-1.1
-1.0
Overall balance
-1.2
-2.0
-0.4
-1.1
-1.0
B. Central Water and Sewerage Authority
Total receipts
10.9
10.9
20.9
17.9
19.8
Total expenditure
Current expenditure
Capital expenditure
11.9
9.2
2.7
9.9
7.3
2.7
30.1
18.0
12.2
24.1
17.5
6.6
31.9
19.3
12.6
1.7
3.6
2.9
0.4
0.5
-1.0
1.0
-9.3
-6.2
-12.2
Current account balance
Overall balance
C. St. Vincent Marketing Corporation
Total receipts
22.7
27.9
28.2
30.1
31.7
Total expenditure
Current expenditure
Capital expenditure
21.6
21.3
0.3
28.3
27.6
0.7
26.8
26.3
0.4
28.2
28.1
0.1
29.7
29.6
0.1
Current account balance
1.3
-0.1
1.9
2.0
2.1
Overall balance
1.1
-0.3
1.5
1.9
2.0
Total receipts
10.3
11.9
23.1
10.4
11.0
Total expenditure
Current expenditure
Capital expenditure
11.9
7.8
4.1
9.7
8.6
1.1
11.2
10.8
0.4
11.5
11.5
0.0
12.1
12.1
0.0
2.5
3.2
-1.1
-1.2
-1.2
Overall balance
-1.5
2.2
11.9
-1.1
-1.1
Total receipts
63.7
63.5
68.7
73.3
77.3
Total expenditure
Current expenditure
Capital expenditure
60.7
54.1
6.6
73.5
54.7
18.8
73.0
64.9
8.0
120.4
69.3
51.1
108.0
73.0
35.0
Current account balance
9.5
8.7
3.7
3.9
4.2
Overall balance
3.0
-10.0
-4.3
-47.1
-30.8
Total receipts
2.5
2.8
-10.2
5.2
3.3
Total expenditure
Current expenditure
Capital expenditure
10.2
4.6
5.6
10.4
5.0
5.4
6.3
5.9
0.4
6.1
6.2
-0.1
13.2
6.2
7.0
Current account balance
-0.8
-0.6
-2.5
-0.8
-2.7
Overall balance
-7.7
-7.6
-16.5
-0.9
-9.9
D. Port Authority
Current account balance
E. St. Vincent Electricity Services Ltd. (VINLEC)
F. Other Public Enterprises 1/
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ Comprising Housing and Land Development Corporation, Development Corporation (until 2002), Philatelic
Services, and Arrowroot Industry Association.
21
Table 17. St. Vincent and the Grenadines: Monetary Survey
2001
2002
2003
2004
2005
(In millions of Eastern Caribbean dollars)
Net foreign assets
ECCB (imputed reserves)
Commercial banks
254
164
90
273
142
131
313
136
177
427
200
226
389
186
203
401
-77
44
8
36
-121
-139
18
605
-60
-68
436
-46
86
12
74
-132
-141
9
633
-54
-98
409
-74
47
24
23
-121
-137
16
637
-56
-99
395
-54
6
-31
37
-60
-100
40
643
-23
-171
485
8
74
-13
87
-67
-82
15
678
-32
-169
Broad money
Money
Currency in circulation
Demand deposits
Quasi-money
Time deposits
Savings deposits
Foreign currency deposits
655
219
52
168
436
143
285
8
709
239
54
185
470
156
304
10
722
254
57
197
469
137
321
10
821
287
64
223
534
124
384
26
874
328
74
253
546
101
430
15
Net foreign assets
Credit to private sector
Broad money
Money
Quasi-money 1/
-9.4
2.3
3.0
3.3
2.9
Net domestic assets
Public sector credit (net)
Central government
ECCB
Commercial banks
Net credit to rest of public sector
National Insurance Services
Other
Credit to private sector
Net credit to nonbank financial institutions
Other items (net)
(Annual percentage change)
7.4
4.6
8.3
9.1
7.9
14.9
0.6
1.9
6.1
-0.3
36.2
0.9
13.7
13.1
14.0
-8.9
5.5
6.4
14.2
2.2
(Percent contribution compared to M2
at the beginning of the year)
Net foreign assets
Net domestic assets
Net credit to public sector
Credit to private sector
Net credit to nonbank financial institutions
Other assets (net)
Broad money
-4.1
7.2
0.3
2.1
-3.5
8.3
3.0
2.9
5.4
4.8
4.3
0.9
-4.6
8.3
5.7
-3.9
-4.0
0.6
-0.3
-0.2
1.9
15.7
-2.0
2.7
0.8
4.5
-10.0
13.7
-4.6
11.0
7.6
4.3
-1.1
0.3
6.4
Memorandum items:
Income velocity 2/
Deposit interest (average rate per annum)
Lending interest rate (average rate per annum)
Foreign currency deposits/GDP (in percent)
Broad money/GDP (in percent)
1.4
4.6
11.6
0.8
70.2
1.4
4.4
11.6
1.0
71.9
1.4
4.6
11.8
1.0
70.0
1.3
3.3
9.7
2.4
74.6
1.3
2.9
9.4
1.3
75.3
Sources: ECCB; Ministry of Finance and Planning; and Fund staff estimates.
1/ Including resident foreign currency deposits.
2/ Nominal GDP at market prices divided by liabilities to the private sector.
22
Table 18. St. Vincent and Grenadines: Eastern Caribbean Central Bank Operations
(In millions of Eastern Caribbean dollars)
Net (imputed) international reserves
Net domestic assets
Net credit to central government
Treasury bills
Debentures
Temporary advances
Other claims 1/
Central government deposits (-)
Net credit to rest of public sector
Credit to private sector
Net claims on commercial banks
Claims
Loans to commercial banks
Deposits with commercial banks
Liabilities
Currency (cash in vault)
Statutory reserves
Fixed deposits
Liabilities to the private sector
Currency in circulation
Total currency issued
Currency held by banks (-)
2001
2002
2003
2004
2005
164
142
136
200
186
-113
8
0
7
3
1
-3
0
0
-88
12
0
4
8
0
0
0
0
-80
24
0
4
20
0
0
0
0
-136
-31
0
4
6
0
-41
0
0
-111
-13
0
4
5
0
-22
0
0
-120
0
0
0
-120
-24
-96
0
-99
0
0
0
-99
-25
-74
0
-103
0
0
0
-103
-28
-75
0
-105
0
0
0
-105
-24
-81
0
-99
0
0
0
-99
-30
-69
0
52
52
76
-24
54
54
79
-25
57
57
85
-28
64
64
89
-24
74
74
104
-30
Source: ECCB.
1/ Includes advances to government, plus assets due from participating governments.
23
Table 19. St. Vincent and Grenadines: Consolidated Balance Sheet of Commercial Banks
(In millions of Eastern Caribbean dollars)
2001
2002
2003
2004
2005
90
284
4
87
106
87
-194
-19
-44
-131
131
314
6
70
104
134
-183
-26
-29
-128
177
389
7
44
126
213
-212
-72
-7
-134
226
438
4
67
63
304
-212
-67
-18
-127
203
458
4
48
69
337
-255
-105
-16
-133
137
140
24
94
22
0
-3
104
108
25
64
18
0
-3
101
102
28
67
7
0
-2
104
106
24
82
0
0
-2
98
98
30
67
2
0
0
376
36
41
27
52
-83
-139
18
34
-16
-60
9
-69
605
8
-93
420
74
44
16
104
-91
-141
9
25
-15
-54
8
-62
633
-3
-99
388
23
21
24
98
-120
-137
16
29
-12
-56
10
-66
637
-2
-94
426
40
9
29
104
-102
-100
37
50
-13
-23
34
-57
643
-5
-166
498
87
23
55
134
-125
-82
15
47
-32
-32
14
-46
678
3
-171
Liabilities to the private sector
Demand deposits
Time deposits
Savings deposits 2/
Foreign currency deposits
603
168
143
285
8
655
185
156
304
10
666
197
137
321
10
757
223
124
384
26
800
253
101
430
15
Memorandum item:
Loan/deposit ratio (in percent) 3/
68.3
72.1
69.0
71.2
72.9
Net foreign assets
Foreign assets
Foreign currency holdings
Claims on ECCB area banks
Claims on other banks abroad
Other 1/
Foreign liabilities
Balances due to ECCB area banks
Balances due to other banks abroad
Nonresident deposits
Net position with ECCB
Claims on ECCB
Currency holdings
Current deposits
Fixed deposits
Other
Liabilities to ECCB
Net domestic assets
Net credit to government
Treasury bills
Other securities
Loans and advances
Deposits (-)
Net credit to National Insurance Services
Net credit to nonfinancial public enterprises
Loans, advances, and investments
Deposits (-)
Net credit to nonbank financial institutions
Loans, advances, and investments
Deposits (-)
Credit to private sector 2/
Interbank float (net)
Net unclassified assets
Sources: ECCB; and Fund staff estimates.
1/ Includes foreign investments and loans to nonresidents.
2/ Includes Banana Growers Association's accounts.
3/ Includes investments and deposits of nonresidents.
24
Table 20. St. Vincent and Grenadines: Balance Sheet of Indigenous Commercial Banks
(In millions of Eastern Caribbean dollars)
2001
2002
2003
2004
2005
89
207
2
68
77
61
-119
-18
-27
-73
101
214
4
55
70
86
-114
-26
-27
-61
175
287
4
52
133
98
-113
-49
-5
-59
193
314
2
23
38
251
-121
-62
-5
-55
235
390
3
28
61
299
-155
-93
-5
-57
44
44
14
0
30
0
0
0
40
44
14
0
30
0
0
-3
60
61
17
0
44
0
0
-2
52
53
16
0
38
0
0
-2
52
52
21
0
31
0
0
0
130
-2
15
15
33
-64
-114
18
34
-16
-30
7
-38
328
8
-79
156
28
12
12
71
-67
-131
12
24
-12
-37
6
-43
369
2
-87
81
-8
7
12
68
-95
-133
17
28
-11
6
52
-46
297
2
-100
122
-20
0
4
78
-102
-95
37
50
-13
-2
34
-36
310
-2
-107
115
17
12
20
109
-125
-80
15
47
-32
-7
14
-21
328
4
-162
Liabilities to the private sector
Demand deposits
Time deposits
Savings deposits 3/
Foreign currency deposits
262
46
50
164
3
297
58
60
176
3
315
63
61
187
4
366
73
56
219
19
402
86
52
259
5
Memorandum item:
Loan/deposit ratio (in percent)
71.1
77.7
67.4
67.1
69.0
Net foreign assets
Foreign assets
Foreign currency holdings
Claims on ECCB area banks
Claims on other banks abroad
Other 1/
Foreign liabilities
Balances due to ECCB area banks
Balances due to other banks abroad
Nonresident deposits
Net position with ECCB
Claims on ECCB
Currency holdings
Statutory reserves
Current deposits 2/
Fixed deposits
Other
Liabilities to ECCB
Net domestic assets
Net credit to government
Treasury bills
Other securities
Loans and advances
Deposits (-)
Net credit to National Insurance Services
Net credit to nonfinancial public enterprises
Loans, advances, and investments
Deposits (-)
Net credit to nonbank financial institutions
Loans, advances, and investments
Deposits (-)
Credit to private sector 3/
Interbank float (net)
Net unclassified assets
Sources: ECCB; and Fund staff estimates.
1/ Includes foreign investments and loans to nonresidents.
2/ Statutory reserves are included in current deposits.
3/ Banana Growers Association's loans and deposits are treated as private sector credit and deposit.
25
Table 21. St. Vincent and the Grenadines: Consolidated Balance Sheet
of Foreign Commercial Banks
(In millions of Eastern Caribbean dollars)
2001
2002
2003
2004
2005
1
77
1
20
29
27
-76
-1
-17
-58
0
30
99
2
15
34
48
-69
-1
-1
-67
0
3
102
3
19
34
46
-100
-22
-2
-75
0
34
125
2
44
26
53
-91
-5
-13
-73
0
-32
67
1
21
8
38
-99
-12
-11
-76
0
93
96
10
0
64
22
0
-3
64
64
12
0
34
18
0
0
41
41
11
0
23
7
0
0
53
53
9
0
44
0
0
0
47
47
8
0
36
2
0
0
Net domestic assets
Net credit to government
Treasury bills
Other securities
Loans and advances
Deposits (-)
Net credit to National Insurance Services
Net credit to nonfinancial public enterprises
Loans, advances, and investments
Deposits (-)
Net credit to nonbank financial institutions
Loans, advances, and investments
Deposits (-)
Credit to private sector 2/
Interbank float (net)
Net unclassified assets
246
38
26
12
19
-19
-25
-1
0
-1
-29
2
-32
277
0
-14
264
47
33
4
33
-24
-10
-3
0
-3
-17
2
-19
264
-5
-11
307
31
14
12
30
-25
-4
-1
0
-1
-18
2
-20
296
-4
7
304
60
9
24
26
0
-5
0
0
0
-21
0
-21
333
-3
-59
383
70
11
35
24
0
-1
0
0
0
-25
0
-25
350
-2
-9
Liabilities to the private sector
Demand deposits
Time deposits
Savings deposits 2/
Foreign currency deposits
341
121
93
121
5
359
127
96
128
7
351
134
77
134
6
391
150
69
165
8
398
167
50
172
9
Memorandum item:
Loan/deposit ratio (in percent)
65.0
65.1
71.2
76.6
78.4
Net foreign assets
Foreign assets
Foreign currency holdings
Claims on ECCB area banks
Claims on other banks abroad
Other 1/
Foreign liabilities
Balances due to ECCB area banks
Balances due to other banks abroad
Nonresident deposits
Other
Net position with ECCB
Claims on ECCB
Currency holdings
Statutory reserves
Current deposits
Fixed deposits
Other
Liabilities to ECCB
Sources: ECCB; and Fund staff estimates.
1/ Includes foreign investments and loans to nonresidents.
2/ Banana Growers Association's loans and deposits are treated as private sector credit and deposit.
26
Table 22. St. Vincent and the Grenadines: Distribution of Commercial Bank Lending 1/
2001
2002
2003
2004
2005
(In millions of Eastern Caribbean dollars)
Total
Agriculture and fisheries
Mining and quarrying
Manufacturing
Distributive trades
Tourism
Entertainment and catering
Transport and storage
Public utilities
Construction and land development
Government and statutory bodies
Professional and other services
Financial institutions
Personal
House and land purchases
Home construction and renovation
Durable consumer goods
Other personal
712
22
1
18
95
31
8
24
2
26
52
31
14
387
143
88
24
132
787
15
1
19
88
30
8
21
2
22
103
34
11
433
180
100
21
132
783
15
1
20
85
18
5
24
3
22
99
28
32
430
162
122
20
126
824
13
1
17
88
29
5
21
5
28
123
28
11
454
200
108
18
129
887
12
0
18
99
29
4
19
5
22
152
37
8
482
194
138
19
131
(In percent of total loans and advances)
Total
Agriculture and fisheries
Mining and quarrying
Manufacturing
Distributive trades
Tourism
Entertainment and catering
Transport and storage
Public utilities
Construction and land development
Government and statutory bodies
Professional and other services
Financial institutions
Personal
House and land purchases
Home construction and renovation
Durable consumer goods
Other personal
100.0
3.1
0.1
2.6
13.4
4.3
1.1
3.3
0.3
3.7
7.3
4.4
1.9
54.4
20.1
12.3
3.4
18.5
100.0
1.9
0.1
2.4
11.2
3.8
1.0
2.7
0.2
2.8
13.1
4.3
1.4
55.0
22.8
12.7
2.7
16.8
Source: ECCB.
1/ Includes loans to nonresidents and nonbank financial institutions.
100.0
2.0
0.2
2.5
10.8
2.3
0.7
3.1
0.4
2.9
12.6
3.6
4.1
54.9
20.7
15.5
2.6
16.1
100.0
1.6
0.1
2.0
10.7
3.5
0.7
2.6
0.7
3.4
14.9
3.4
1.4
55.1
24.2
13.1
2.2
15.6
100.0
1.4
0.0
2.1
11.1
3.3
0.5
2.1
0.6
2.5
17.1
4.2
0.9
54.3
21.9
15.5
2.1
14.7
27
Table 23. St. Vincent and the Grenadines: Interest Rate Structure of Commercial Banks
(In percent per annum)
2001
2002
2003
2004
2005
I. Commercial Banks: Minimum and Maximum Rates
Deposits
Demand
Savings
Time
Up to 3 months
Between 3 and 6 months
Between 6 and 12 months
3.0–6.4
4.0–5.0
3.0–6.5
3.0–5.0
2.5–5.5
3.0–5.0
1.5–6.0
1.5–5.75
2.0–7.0
3.1–6.0
2.5–5.0
2.0–7.0
2.25–4.0
2.75–4.5
2.0–7.2
1.0–3.5 1.0–2.5
1.0–3.75 1.0–3.25
1.0–4.25 1.0–3.75
9.0–11.0
5.0–21.0
9.0–11.0
5.0–21.0
9.0–11.0
7.5–21.0
9.0–11.0 9.0–11.0
3.0–16.5 3.0–16.5
3.6
3.0–4.5
3.6
3.0–4.5
Lending
Prime rate
Other lending rates 1/
II. Commercial Banks: Average Rates
Weighted lending rates 2/
Weighted deposit rates 2/
Spread
11.6
4.6
7.1
11.6
4.4
7.2
11.8
4.6
7.3
9.7
3.3
6.4
Sources: ECCB; and International Monetary Fund, International Finance Statistics.
1/ The low end of the range relates to the lowest mortgage lending rates offered by banks.
2/ Based on period averages.
9.4
2.9
6.5
28
Table 24. St. Vincent and the Grenadines: Summary Balance of Payments
2001
2002
2003
2004
Est.
2005
(In millions of U.S. dollars, unless otherwise indicated)
Current account
Trade balance
Exports, f.o.b.
Of which
Bananas
Imports, f.o.b.
-35.9
-109.2
42.8
-42.0
-116.5
41.2
-79.5
-136.7
40.1
-102.5
-159.7
39.3
-103.2
-161.9
41.4
13.7
152.0
15.9
157.8
11.9
176.8
13.1
199.0
11.9
203.3
77.1
133.2
89.0
44.2
56.0
9.9
46.1
80.0
137.1
91.0
46.1
57.1
10.2
46.9
68.2
132.8
91.2
41.6
64.6
12.6
51.9
72.0
145.2
95.6
49.7
73.2
14.3
58.9
74.6
149.7
100.9
48.8
75.1
14.7
60.4
Balance on goods and nonfactor services
Exports of goods and nonfactor services
Imports of goods and nonfactor services
-32.1
175.9
208.0
-36.5
178.3
214.8
-68.5
172.8
241.4
-87.7
184.5
272.2
-87.3
191.1
278.4
Income balance
Net Interest
Net other factor services
Credits
Interest
Other factor services
Debits
Interest
Of which
On public debt
Other factor services
-16.5
-6.7
-9.8
2.4
1.0
1.4
18.9
7.7
-17.6
-4.6
-13.0
3.4
1.2
2.1
21.0
5.9
-23.8
-4.8
-19.1
3.8
1.3
2.5
27.6
6.1
-29.0
-5.4
-23.6
4.9
2.5
2.4
33.9
7.9
-30.4
-6.6
-23.8
5.1
2.6
2.5
35.5
9.2
4.9
11.2
4.0
15.1
4.1
21.5
5.3
26.0
6.5
26.3
Current transfers
Net private transfers
Net official transfers
12.6
13.1
-0.5
12.1
12.9
-0.8
12.9
13.9
-1.0
14.1
14.5
-0.4
14.5
14.8
-0.4
Capital and financial account
58.5
25.9
63.4
111.8
99.4
8.8
6.8
2.0
10.6
9.2
1.5
14.4
12.8
1.6
18.9
16.2
2.7
21.6
18.7
2.8
Financial account
Net official borrowing
Public sector (net)
Drawings
Repayments
Net private capital
Net direct investment
Equity capital
Retained earnings
Land sales
Private capital
Net other private capital
Change in net foreign assets of banks
Errors and omissions
Overall balance
49.7
14.1
14.1
19.7
5.6
19.6
21.0
1.2
7.4
12.4
0.0
-1.4
16.0
-19.8
2.8
15.3
2.1
2.1
8.5
6.4
28.5
34.0
0.0
11.5
11.8
10.8
-5.6
-15.3
9.4
-6.6
49.0
92.9
-1.2
13.7
-1.2
13.7
6.1
22.6
7.3
8.9
67.3
97.4
55.2
65.7
8.7
33.1
14.6
16.1
10.6
12.8
21.3
3.6
12.1
31.8
-17.1
-18.3
15.6
16.1
-0.5
25.4
(In percent of GDP)
77.8
18.9
18.9
29.1
10.2
50.2
33.2
4.7
16.1
12.8
-0.4
17.0
8.6
1.0
-2.9
Current account balance
Trade deficit
Exports
Imports
Services
Travel
Capital and financial
Official borrowing
Net official borrowing
Private long term (net)
-10.4
-31.6
12.4
44.0
22.3
25.8
16.9
0.2
4.1
5.7
-11.5
-31.9
11.3
43.2
21.9
24.9
7.1
0.2
0.6
7.8
Service balance
Receipts
Travel
Other nonfactor services
Payments
Travel
Other nonfactor services
Capital account
Public sector (net)
Private sector (net)
Overall balance
External debt
Debt service (in percent of exports of goods and services)
Merchandise terms of trade (1996=100)
Nominal GDP at market prices (US$)
-20.8
-35.8
10.5
46.2
17.8
23.8
16.6
0.2
-0.3
17.6
-25.1
-39.2
9.6
48.8
17.7
23.4
27.4
0.2
3.4
23.9
-24.0
-37.6
9.6
47.3
17.3
23.5
23.1
0.2
4.4
11.7
0.8
-1.8
-0.1
6.2
-0.7
49.1
6.7
86.4
345
46.5
6.5
88.6
365
50.9
7.3
84.2
382
54.1
10.0
84.2
408
54.7
11.5
81
430
Sources: Ministry of Finance and Planning; ECCB; and Fund staff estimates.
29
Table 25. St. Vincent and the Grenadines: Major Exports
2001
2002
2003
2004
Est.
2005
(In millions of U.S. dollars)
Total merchandise exports
Re-exports
Domestic exports
Agricultural
Bananas
Sweet potatoes
Eddoes
Dasheen
Other agricultural crops 1/
Manufactured exports 2/
Flour
Rice
Other
Other exports
42.8
41.2
40.1
39.3
41.4
6.0
3.0
7.3
3.5
5.6
36.8
17.8
13.7
0.3
0.8
0.8
2.3
38.2
20.8
15.9
0.3
0.8
1.2
2.5
32.8
16.5
11.9
0.2
0.8
1.3
2.4
35.8
18.2
13.1
0.4
1.0
1.2
2.5
35.8
17.8
11.9
0.4
1.1
1.9
2.5
17.0
6.1
4.2
6.8
14.6
4.5
4.2
5.9
13.6
4.7
3.0
5.9
14.4
4.9
2.7
6.7
15.5
5.0
3.1
7.4
2.0
2.8
2.7
3.2
2.6
(In percent of total exports)
Re-exports
14.0
7.4
18.2
8.9
13.5
Agricultural
Bananas
Sweet potatoes
Eddoes
Dasheen
Other agricultural crops 1/
41.6
32.0
0.7
1.8
1.8
5.3
50.3
38.5
0.8
2.0
2.9
6.2
41.1
29.6
0.5
1.9
3.2
5.9
46.3
33.2
1.0
2.5
3.1
6.4
42.9
28.7
0.9
2.6
4.6
6.0
Manufactured exports 2/
Flour
Rice
Other
39.8
14.2
9.8
15.8
35.5
11.0
10.2
14.3
34.0
11.8
7.5
14.7
36.6
12.4
6.9
17.2
37.4
12.1
7.4
17.9
4.6
6.8
6.7
8.2
6.3
Other exports
Sources: Ministry of Finance and Planning; ECCB; and Fund staff estimates.
1/ Includes arrowroot starch, coconuts, plantains, tannias, yams, ginger, tobacco, nutmeg,
and cut flowers.
2/ Standard International Trade Classification 6, 7, and 8 and flour, rice and animal feeds.
30
Table 26. St. Vincent and the Grenadines: Value, Volume, and Unit Value
of Major Agricultural Exports
(Value in millions of U.S. dollars, volume in thousands of metric tons,
and unit price in U.S. dollars per metric ton)
2001
2002
2003
2004
Est.
2005
42.8
41.2
40.1
39.3
41.4
6.0
3.0
7.3
3.5
5.6
Domestic exports
36.8
38.2
32.8
35.8
35.8
Agricultural exports
Bananas
Value
Volume
Unit price
Arrowroot starch
Value
Volume
Unit price
Coconuts
Value
Volume
Unit price
Sweet potatoes
Value
Volume
Unit price
Plantains
Value
Volume
Unit price
Tannias
Value
Volume
Unit price
Eddoes
Value
Volume
Unit price
Dasheen
Value
Volume
Unit price
Flour
Value
Volume
Unit price
17.8
20.8
16.5
18.2
17.8
13.68
33.89
404
15.87
37.55
423
11.86
26.69
444
13.05
28.06
465
11.89
25.21
472
0.17
0.07
2,536
0.01
0.00
2,315
0.01
0.00
2,469
0.12
0.05
2,452
0.24
0.06
4,172
0.14
0.37
382
0.11
0.31
367
0.08
0.21
362
0.09
0.24
369
0.12
0.34
362
0.29
0.63
470
0.33
0.73
455
0.19
0.43
456
0.40
0.88
457
0.39
0.88
437
0.71
1.73
409
0.86
2.11
408
0.72
1.77
407
0.92
2.26
407
0.92
2.26
409
0.15
0.17
887
0.21
0.24
881
0.14
0.16
878
0.16
0.18
878
0.12
0.14
864
0.77
1.22
636
0.82
1.30
630
0.76
1.20
633
0.98
1.54
634
1.06
1.70
627
0.77
1.26
614
1.20
1.99
606
1.29
2.15
602
1.23
2.02
611
1.93
3.34
577
6.06
15.43
392
4.52
9.23
490
4.74
9.94
477
4.89
10.55
463
5.01
10.52
477
Total merchandise exports
Re-exports
Sources: Ministry of Finance and Planning; Banana Growers Association; and Fund staff estimates.
31
Table 27. St. Vincent and the Grenadines: Exports by Country of Destination
2001
2002
2004
Est.
2005
39.3
12.3
1.8
0.1
21.1
3.0
4.8
1.5
0.1
0.8
4.2
3.6
3.0
3.9
41.4
10.7
3.2
0.1
24.7
2.5
5.1
2.9
0.2
0.8
4.4
4.9
4.1
2.7
100.0
31.3
4.7
0.3
53.7
7.7
12.2
3.8
0.3
2.0
10.7
9.2
7.7
10.0
100.0
25.7
7.8
0.3
59.6
6.0
12.3
6.9
0.4
1.8
10.5
11.8
9.9
6.5
2003
(In millions of U.S. dollars)
Total exports
United Kingdom
United States
Canada
CARICOM countries
Antigua
Barbados
Dominica
Guyana
Jamaica
St. Lucia
Trinidad and Tobago
Other
Other
42.8
16.8
1.2
0.2
21.6
2.5
4.5
1.4
0.3
1.9
3.6
4.8
2.7
3.0
41.2
15.2
2.0
0.1
20.0
2.4
4.5
1.3
0.2
1.7
3.5
3.9
2.5
3.9
40.1
11.2
4.9
0.2
20.1
2.7
4.3
1.4
0.1
1.0
3.9
4.2
2.5
3.6
(In percent of total)
Total exports
United Kingdom
United States
Canada
CARICOM countries
Antigua
Barbados
Dominica
Guyana
Jamaica
St. Lucia
Trinidad and Tobago
Other
Other
100.0
39.3
2.7
0.4
50.5
5.9
10.4
3.2
0.6
4.3
8.5
11.2
6.2
7.1
100.0
37.0
4.8
0.2
48.5
5.7
10.9
3.2
0.4
4.1
8.4
9.5
6.1
9.5
100.0
27.8
12.3
0.6
50.2
6.8
10.6
3.4
0.3
2.4
9.8
10.5
6.3
9.0
Sources: Ministry of Finance and Planning; and Fund staff estimates.
32
Table 28. St. Vincent and the Grenadines: Merchandise Imports
2001
2002
2003
Est.
2005
2004
(In thousands of Eastern Caribbean dollars)
Total merchandise imports
Food
Beverages and tobacco
Crude materials
Fuels and lubricants
Oils and fats
Chemicals
Manufactured goods
Machinery and transport equipment
464,000
102,651
11,664
14,599
45,380
1,701
43,108
87,849
95,991
480,156
105,331
11,418
16,372
41,502
1,861
47,749
88,251
112,508
543,340
101,821
12,997
17,222
53,259
1,868
47,744
106,677
134,843
608,508
115,054
15,427
21,751
67,018
2,410
51,302
121,420
138,699
649,428
119,330
17,376
17,897
89,993
2,517
59,888
122,861
143,317
(In percent of total imports)
Total merchandise imports
Food
Beverages and tobacco
Crude materials
Fuels and lubricants
Oils and fats
Chemicals
Manufactured goods
Machinery and transport equipment
100.0
22.1
2.5
3.1
9.8
0.4
9.3
18.9
20.7
100.0
21.9
2.4
3.4
8.6
0.4
9.9
18.4
23.4
100.0
18.7
2.4
3.2
9.8
0.3
8.8
19.6
24.8
Sources: Ministry of Finance and Planning; ECCB; and Fund staff estimates.
100.0
18.9
2.5
3.6
11.0
0.4
8.4
20.0
22.8
100.0
18.4
2.7
2.8
13.9
0.4
9.2
18.9
22.1
33
Table 29. St. Vincent and the Grenadines: Imports by Country of Origin
2001
2002
2003
2004
Est.
2005
(In millions of U.S. dollars)
Total imports, c.i.f.
United Kingdom
United States
Canada
Japan
Netherlands
Germany
CARICOM countries
Antigua and Barbuda
Barbados
Dominica
Guyana
Jamaica
St. Lucia
Trinidad and Tobago
Other
Other
152.0
18.3
64.3
4.9
6.5
1.2
1.5
51.1
0.2
7.5
0.6
2.2
1.8
0.9
37.2
0.8
24.0
157.8
15.0
71.4
4.1
6.3
0.9
1.8
50.3
0.3
7.1
0.6
2.1
1.3
1.5
36.6
0.9
28.0
176.8
14.8
81.7
6.0
6.6
1.6
1.2
56.6
0.2
7.6
0.5
1.6
1.8
2.2
41.6
1.0
8.4
199.0
23.6
82.7
6.1
8.3
1.4
1.3
64.6
0.1
8.9
0.6
2.6
1.4
2.2
48.0
0.7
10.9
203.3
22.6
78.5
9.2
10.0
1.3
2.5
73.1
0.1
9.5
0.6
1.9
1.6
1.6
56.8
1.0
6.0
100.0
11.9
41.6
3.1
4.2
0.7
0.7
32.4
0.1
4.5
0.3
1.3
0.7
1.1
24.1
0.4
5.5
100.0
11.1
38.6
4.5
4.9
0.6
1.3
36.0
0.0
4.7
0.3
1.0
0.8
0.8
27.9
0.5
3.0
(In percent of total)
Total imports, c.i.f.
United Kingdom
United States
Canada
Japan
Netherlands
Germany
CARICOM countries
Antigua and Barbuda
Barbados
Dominica
Guyana
Jamaica
St. Lucia
Trinidad and Tobago
Other
Other
100.0
12.0
42.3
3.2
4.3
0.8
1.0
33.6
0.1
5.0
0.4
1.4
1.2
0.6
24.5
0.5
15.8
100.0
9.5
45.2
2.6
4.0
0.6
1.2
31.9
0.2
4.5
0.4
1.3
0.8
0.9
23.2
0.6
17.7
Sources: Ministry of Finance and Planning; and Fund staff estimates.
100.0
8.4
46.2
3.4
3.7
0.9
0.7
32.0
0.1
4.3
0.3
0.9
1.0
1.2
23.5
0.6
4.7
34
Table 30. St. Vincent and the Grenadines: Selected Data on Tourism
Total number of visitors
Of which
Stayovers
Air
Hotels
Private residences and others
Excursionists 1/
Sea
Cruiseships
Yachts
Average stay (days/visitors)
Of which
Hotels
Private residences and others
Yachts
Volume of visitors ('000 days)
Average daily expenditure (U.S. dollars)
Hotels
Private Residences and others
Yachts
Excursionists
Cruiseship and others
Tourism expenditure (in millions of US$)
Tourism expenditure (in millions of EC$)
2001
2002
2003
2004
Est.
2005
254,091
247,449
241,626
261,469
253,034
70,686
77,622
78,535
86,721
94,966
85,735
14,137
56,549
15,049
90,684
15,637
61,985
13,062
89,631
15,492
61,404
13,696
99,657
13,600
73,121
12,936
104,221
18,993
75,973
9,255
168,356
76,494
91,862
156,765
70,314
86,451
140,109
64,965
84,330
161,812
77,585
84,227
148,813
69,753
79,060
8
8
8
8
8
10
12
12
10
12
12
10
12
12
10
12
12
10
12
12
2,014
2,040
2,031
2,107
2,129
45
45
45
46
48
117
35
35
35
17
115
35
35
35
17
117
35
35
35
17
124
36
36
36
17
142
39
39
39
19
80
216
83
224
84
226
94
254
101
273
Sources: ECCB; Department of Tourism, Tourism Statistical Report; and Fund staff estimates.
1/ These are visitors whose average length of stay is one to two days.
35
Table 31. St. Vincent and the Grenadines: Public Sector External Debt 1/
(In millions of U.S. dollars, unless otherwise stated)
2001
2002
2003
2004
Est.
2005
170
170
195
221
235
163
6
163
7
180
15
209
12
217
19
30
68
72
26
73
71
29
74
91
31
75
115
33
84
119
Drawings
Central government
Public enterprises
18
17
1
8
7
1
26
24
1
39
29
10
27
31
-4
Debt service
Amortization
Interest
12
6
5
12
7
5
13
8
4
18
13
6
22
14
8
49.1
46.5
50.9
54.1
54.7
...
...
...
...
...
...
...
...
66.2
11.2
8.2
14.4
65.1
9.9
8.5
16.5
65.1
9.9
8.5
16.5
11.8
6.7
4.8
3.2
10.3
6.5
4.4
2.7
10.7
7.3
4.7
2.4
15.4
10.0
6.1
2.7
17.6
11.5
6.8
3.4
0.2
0.2
0.4
3.5
0.4
...
...
...
...
...
Public sector external debt 2/
By debtor
Central government
Public enterprises
By type of creditor
Official bilateral
Official multilateral
Commercial
Gross public sector external debt, in percent of GDP
Currency composition of external debt in percent of total
United States dollars
Eastern Caribbean dollars
Special Drawing Rights
Other
Total debt service in percent of government revenue
excluding grants
External debt service in percent export of goods and services
External debt service in percent of broad money 3/
Effective average external interest rate 4/
Memorandum items:
Moratorium on external interest (Ottley Hall)
Debt forgiveness
Sources: Ministry of Finance and Planning; and Fund staff estimates.
1/ The consolidated public sector includes the central government, the National Insurance Services and the
nonfinancial public enterprises.
2/ Includes the assumption of private debt for Ottley Hall shipyard in 1999.
3/ Including foreign currency deposits.
4/ Interest payment as percent of the average of debt stock at beginning and end of period.