Prime Minister and Minister of Finance, Hon. Dr. Terrance Drew Engages in Article IV Consultation Discussions with IMF Mission

Basseterre, Saint Kitts and Nevis, February 21, 2024 (Press Secretary, PMO) – Prime Minister and Minister of Finance, Hon. Dr. Terrance Drew engaged in a constructive dialogue with members of the International Monetary Fund (IMF) Mission as part of the Article IV consultation discussions on economic developments and macroeconomic policies.

The meeting, held on Tuesday 20th February 2024 provided a platform for in-depth discussions on the economic trajectory of the nation and the formulation of effective macroeconomic policies to address prevailing challenges and promote sustainable growth. The Article IV consultation is a vital component of the International Monetary Fund’s commitment to fostering global economic stability.

Prime Minister Drew led the discussions, emphasizing the government’s dedication to sound economic management and its commitment to implementing policies that will enhance the overall economic well-being of the nation. The Prime Minister was joined by key officials within the Ministry of Finance, Financial Secretary Mrs. Hilary Hazel and Deputy Financial Secretary Sylvia Manning-Gumbs, who played pivotal roles in providing insights and perspectives during the meeting.

The discussions, conducted under the framework of Article IV of the IMF’s Articles of Agreement, allowed for a comprehensive exchange of views and information. This annual process involves a staff team from the IMF visiting member countries, collecting economic and financial data, and engaging in substantive discussions with national officials.

The collaborative and transparent nature of the discussions underscores the government’s commitment to fostering international cooperation and seeking expert guidance to address economic challenges effectively. Prime Minister Drew expressed gratitude for the IMF’s continued support and highlighted the importance of working together to ensure the resilience and prosperity of the nation’s economy.

The outcomes of these discussions will contribute to shaping policies that align with global best practices, fostering economic stability and resilience. The government remains steadfast in its dedication to implementing reforms that promote sustainable development and improve the lives of its citizens.

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