This paper reviews economic developments in St. Lucia during 1990–95. During 1991–92, economic growth slowed to an average of 5 percent (from 9 percent achieved in the late 1980s) as banana production stagnated, and in spite of strong growth of construction and tourism. In 1993–94, real...

This 2010 Article IV Consultation highlights that macroeconomic outcomes have weakened significantly for St. Lucia. Real GDP is estimated to have contracted by 5.2 percent in 2009, reflecting a sharp decline in visitor arrivals and construction activity related to foreign direct investment. For...

This paper discusses key findings of the Sixth Review under the Poverty Reduction and Growth Facility for Benin. Benin’s macroeconomic outlook is weaker for 2009–10, reflecting the impact of the crisis. The implementation of structural reforms needs to be accelerated to enhance the...

This Selected Issues paper on St. Lucia examines challenges facing the Windward Islands banana industry with a focus on the socioeconomic impact and production recovery strategies. The paper focuses on St. Luciathe—region’s largest producer and most populous island. It reviews recent...

EXECUTIVE SUMMARY Political context. The political environment has been broadly stable, albeit the ongoing dispute with gold company Centerra is creating tensions. In September, the government and Centerra signed a memorandum of understanding which stipulated the exchange of 33 percent of the...

This paper reviews economic developments in Azerbaijan during the 1990s. In 1992, approximately 70–80 percent of producer and consumer prices were liberalized, and enterprises were allowed greater latitude in their price and wage setting. However, price controls were applied on energy and...