Published 18 July 2017
Buckie Got It, St. Kitts and Nevis News
Businesswoman calls on PM Harris to stop pretending the economy is good
BASSETERRE, ST. KITTS, JULY 18TH 2017 – A call for St. Kitts and Nevis’ Prime Minister, Minister of Finance and National Security Dr. the Hon. Timothy Harris to come clean on the state of the economy and high level of criminal activity.
“Make our islands safe again. Stop pretending that the economy is good. It is NOT!” wrote businesswoman, Mrs. Maxine Herbert-Duggins on her FaceBook Page in comments which appear to be directed at the authorities in Basseterre, St. Kitts and The Valley Anguilla.
Herbert-Duggins, owner of Best Buy Supermarkets in Anguilla, Nevis and St. Kitts predicted that more economic hardships are coming and issued a call for the Federal Government in Basseterre to provide relief to the people and take measures to keep all within its borders safe.
“Governments need to find relief. Install cameras on electricity poles at strategic locations. Bring in the Scotland Yard, FBI to help where necessary,” said Herbert-Duggins, who alluded to the high number of unsolved criminal cases.
“Please stop telling me you have this under control. Too many unsolved cases. Change is coming ready or not, and more economic hardships are on the way,” she wrote as she hash-tagged the police forces in Anguilla and St. Kitts and Nevis.
The Washington-based International Monetary Fund (IMF) in its Article IV Consultation of the economy of St. Kitts and Nevis said it was average in 2016, reflecting a deceleration in tourism-linked sectors, contraction in manufacturing output, a narrowing of the overall fiscal surplus and a significant widening of the current account deficit.
The IMF also reported a decrease in Citizenship-By-Investment (CBI) receipts, was a key factor contributing to a narrowing of the overall fiscal surplus and a significant widening of the current account deficit.
It said that the banking sector remains stable, but faces risks, including those associated with the slow progress with the sale of land swapped for public debt, weak asset quality, and loss of Correspondent Banking Relationships (CBRs).
The IMF said growth, which was recorded at 7 percent in 2014 is expected to average around 3 percent in the medium term under the current policies and conservative assumptions about future CBI flows.
The IMF is of the view that with the completion of the Labour Administration initiated projects, a slowdown in construction linked to lower CBI inflows is expected to be offset by public infrastructure investment and higher tourism growth as source market growth accelerates and new tourism facilities come on stream through 2019.
Inflation is projected to increase with the expected rise in fuel prices, remaining around 2 percent in the medium term. The current account deficit should remain large with CBI inflows tapering off. Key risks to the outlook include a sharper drop in CBI inflows, further delays in completing the sale of lands under the debt-land swap arrangement, loss of CBRs, and a stronger U.S. dollar. Stronger-than-expected CBI inflows from the ongoing reforms and continue
