IMF commends A&B for 2016 economic growth

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The International Monetary Fund (IMF) executive who has direct responsibility for Antigua & Barbuda has commended the government’s effort to stabilise the country’s economy, which grew by 3.6 per cent last year.
Dr Arnold McIntyre said the twin island state has outshone its Caribbean neighbours.
“Antigua has been growing better than quite a few countries in the region. I don’t think the government feels — and I agree with them — that is satisfactory. However, the government would like to achieve a 5 per cent growth rate which is ambitious and laudable,” he said.
Dr McIntyre acknowledged that the twin island state is an extremely competitive international market for foreign investment and therefore the government is making its best effort in this regard.
He also said that the IMF has advised the Antigua & Barbuda Labour Party (ABLP) government to use revenues from the Citizenship by Investment Programme (CIP) for the purpose of reducing its arrears, stock of debt, and supporting strategic public investment that can help to enhance the capacity of the economy to support growth.
“At the end of the day, the government believes in its strategies it is pursuing and I don’t see [any] reason for us to make a public issue of that,” Dr McIntyre said.
Antigua & Barbuda entered into an agreement with the IMF in 2010, under the former United Progressive Party (UPP) administration.
(More in today’s Daily Observer)

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