Economics | Buckie Got It

Economics, Local news, News

Central Bank announces update on GDP terminology and data release and revision policy

Published 23 April 2018
Buckie Got It, St. Kitts and Nevis News Source

By: Media Source

Central Bank announces update on GDP terminology and data release and revision policy

Basseterre, St. Kitts, April 23, 2018 – The St. Kitts-based Eastern Caribbean Bank (ECCB) has announced that in keeping with international standards, it has updated the terminology used to describe economic activity in the Eastern Caribbean Currency Union (ECCU).

“Previously Gross Value Added (GVA) was quoted as the indicator of real change in the economy yet referenced as Gross Domestic Product (GDP). The two aggregates were used inter-changeably. GVA is the difference between Output (eg. Sales) and Intermediate Consumption (items used in the production process). It is calculated at the industry/producer level at basic prices. GDP is calculated at market prices, and is the sum of all Gross Values Added for all resident producers (industries) plus any taxes on products less any subsidies on products that are not already included in the valuation of output,” said a statement posted on the website of the Central Bank.

Business, Economics, Local news, News

ECCB statistics highlight a tumbling St. Kitts and Nevis economy, Federation almost at the bottom

Published 23 July 2017

Buckie Got It, St. Kitts and Nevis News

ECCB statistics highlight a tumbling St. Kitts and Nevis economy, Federation almost at the bottom

BASSETERRE, ST.KITTS, JULY 21ST 2017 – Despite repeated statements by St. Kitts and Nevis’ Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris, of a robust and highly confident St. Kitts and Nevis economy, the Eastern Caribbean Central Bank (ECCB) is telling a different story.

The ECCB whose goal is to maintain the stability and integrity of the sub region’s currency and banking system for the second time this year revised downward its projected GDP for St. Kitts and Nevis for 2017 with a slight increase in economic activity for 2018.

Business, Economics, Local news, News

New Chairman of Monetary Council said projected growthain ECCU in 2017 and 2018 will fall short of its target

Published 23 July 2017

Buckie Got It, St. Kitts and Nevis News

New Chairman of Monetary Council said projected growthain ECCU in 2017 and 2018 will fall short of its target

BASSETERRE, ST. KITTS, JULY 21^ST 2017 – New chairman of the Monetary Council of the Eastern Caribbean Currency Union (ECCU), Dominica’s Prime Minister and Minister of Finance, the Hon. Roosevelt Skerritt has reiterated the Eastern Caribbean Central Bank (ECCB)’s move towards the socio-economic transformation of the economy in order to secure the future of the people of the region.

Economics, International news, News, Sci/Tech, US/World

The summer solstice is upon us: 7 things to know about the longest day of the year

https://www.vox.com/science-and-health/2017/6/19/15832952/summer-solstice-2017 #

Published 21 June 2017

Buckie Got It, St. Kitts and Nevis.

The summer solstice is upon us: June 20th and the 21st will be the longest days of 2017 for anyone living north of the equator. If pagan rituals are your thing, this is probably a big moment for you. If not, the solstice is still pretty neat.

Business, Economics, Local news, News

IMF HAILS NOTICEABLE EFFORTS BY ST. KITTS-NEVIS GOVERNMENT TO COMBAT MONEY LAUNDERING AND TERRORIST FINANCING

Published 8 May 2017

BASSETERRE, ST. KITTS, MAY 8^TH, 2017 (PRESS SEC) – During the recent Article Four (IV) Consultation in St. Kitts and Nevis, International Monetary Fund (IMF) officials affirmed the progress that is continuously being achieved by the Government in strengthening the country’s anti-money laundering and anti-terrorist financing regime.

The IMF team, which visited St. Kitts and Nevis between April 18^thand May 3^rd, 2017, commended the Government of National Unity, saying: “The authorities have further improved compliance with international AML/CFT [anti-money laundering/combating the financing of terrorism] standards and exchange of information…”

The Federation’s demonstrable commitment to implementing international standards on financial transparency was a focus of the Government’s statement issued today, Monday, May 8^th, 2017. It was issued in response to erroneous statements about St. Kitts and Nevis contained in the U.S. Department of State’s 2017 International Narcotics Control Strategy Report, Volume II: Money Laundering and Financial Crimes.