European Parliament Library

Eastern Caribbean Currency Union :, 2010 Discussion on Common Policies of Members Countries—Staff Report; Informational Annex, and the Public Information Notice on the Executive Board Discussion

Real regional gross domestic product (GDP) contracted by 6 percent in 2009, reflecting a collapse in tourist arrivals and foreign direct investment (FDI)-financed construction activity. The global financial and economic crisis has also exposed areas of significant weaknesses, notwithstanding reforms implemented by a number of member countries. Executive Directors concurred that the urgent challenge is fiscal consolidation. They noted IMF staff’s assessment that the real effective exchange rate (REER) appears broadly in line with current fundamentals
Table Of Contents
Cover; Contents; I. Context and Recent Developments; II. Outlook and Risks; III. Policy Discussions; A. Strengthening the Institutional Underpinnings of the ECCU; B. Fiscal Consolidation and Debt Sustainability; C. Resilience of the Financial System; D. External Stability, Growth and Competitiveness; E. Enhancing ECCU and Fund Engagement; IV. Staff Appraisal; Boxes; 1. Public Debt in ECCU Countries; 2. Collapse of the CL Financial Group; 3. Moving Forward with the Establishment of an Economic and Monetary Union; 4. Improving the Efficiency of Public Expenditure in the ECCU
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (93 p.)
Specific Material Designation
Form Of Item

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