High debt hampers OECS

The International Monetary Fund (IMF) said member countries of the Organisation of Eastern Caribbean States (OECS) have little room for fiscal stimulus packages because of high public debt levels.



An IMF team is scheduled to visit OECS nations during this month.



A statement from the Fund, issued after a series of meetings in St Kitts and Nevis, cited the two-island federation as among other countries with a formidably high debt.



The island\'s debt reportedly stands at 170 percent of its Gross Domestic Product.



The IMF is predicting that growth in Eastern Caribbean nations will remain flat during this year, because of the global economic downturn.