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Monday, October 16, 2006 

Debt Reduction and Control for Nevis: Some Questions about the Policy Conditionalities
In one stroke of googling I read on the Leeward Times that not so long ago, discussions between the IMF and the NIA (Nevis Island Administration) had conveyed some kinda agreements re the pending issues of Nevis debt control.
As a matter of fact, the agenda was set to address this issue by looking into the country’s regime of fiscal policy and tax administration.
And by taking a few steps back, it is worth considering the fact that careful reviews of this proposal have to be taken into account vis-à-vis the current administration’s capacity toward:

  • Additional resources in the context of the Millennium Development Goals (MDGs)
  • It’s impact on governance
  • And its political and technical feasibility

Let’s not forget that the IMF conditionalities have evolved over times to cover government’s policies in the various spectrums of economic and fiscal policy, governance, human rights and the social sectors. Thus, the same conditionalities that have left little fiscal space to address head-on some development priorities, and poverty reduction objectives.

With the opening of a new 5 star hotel in a few years, not to mention the booming property developemtn business in Nevis, debt won't be a problem. Nevis has had and will continue to have a stable economy for years to come.


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