“This is not only an encouragement to do better as we continue to realise the necessary changes but also to a large extent, it gives us the opportunity to examine in greater detail and depth, what we can do further to ensure that we stay on the path of the necessary fiscal adjustments that have been achieved and the structural changes that we have been pursuing in the economy,” said Prime Minister and Minister of Finance, The Right Hon. Dr. Denzil L. Douglas during a Joint Cabinet Meeting of his Federal Government of St. Kitts and Nevis and the Nevis Island Administration of Premier, the Hon. Joseph W. Parry with representatives of the Washington-based International Monetary Fund (IMF).
Dr. Douglas noted that the meeting with the Cabinets and the IMF comes at the near end of the debt restructuring exercise which coincided with the home-grown economic programme being pursued.
Prime Minister Douglas expressed thanks and appreciation to all the economic and financial institutions for “ensuring that at the end of the day, the exercise would leave us not so much starved for capital but with the necessary environment where full confidence is returned and as a result of that, hope that the necessary stimulus for growth and development can really consolidate and place us in a better economic position.”
In brief remarks the Premier of Nevis, the Hon. Joseph Parry said his NRP-led Nevis Island Administration is very conscious of the seriousness of the exercise.
“We are doing everything in our power to ensure that we too meet the targets not just as St. Kitts and Nevis, but Nevis as a separate entity so that we do not put unnecessary strain on the Federal Government,” said Premier Parry.
He gave the assurance that for the next three months, “I will be personally involved in what goes on with the Permanent Secretary of Finance, to ensure there is the corporations especially are able to support themselves and everything will be ok.”