IMF says Antigua economic outcomes strengthened

The International Monetary Fund (IMF) said macroeconomic outcomes in Antigua and Barbuda have strengthened significantly in recent years.



On Monday, the IMF noted that the island had achieved consecutive years of sizeable growth in its Gross Domestic Product, GDP, between 2003 and 2008.



However, after holding discussions with top-ranking finance and tourism officials in the Baldwin Spencer administration, the mission noted that the primary fiscal deficit has remained high.



However, it said public debt has declined by about 45 percentage points of GDP since 2003 owing to strong growth performance and external debt forgiveness.