Kitts and Nevis Updating Economic Note - World Bank · FOR OFFIICAL USE ONLY ST. KITTS AND NEVIS A...

Report No. 8268-SC

St. Kitts and NevisUpdating Economic Note

Fehbruary 9, 1990

Latin America and the Caribbean Region

FOR OFFICIAL USE ONLY

.t ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ .

/~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

~~~ -

./

Docurent of the World Bank

This document has a restricted distribution and may be used by recipientsonly in the performance of their official duties. Its contents may not otherwisebe disclosed without World Bank authorization.

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

CURRENCY EQUIVALENTS

Currency Unit Eastern Caribbean Dollar

Since its creation in 1965, until July 1976, the Eastern Caribbean dollarwas linked to the pound sterling at the rate of £l.00=EC$4.8. In July 1976the Eastern Caribbean dollar was linked to the US dollar at the rate ofUS$1.00 = EC$2.70.

Since July 1976

ECS1.00 = US$0.37US$1.00 = EC$2.70

FOR OFFIICAL USE ONLY

ST. KITTS AND NEVIS

A Bank economic mission visited St. Kitts and Nevis in November1989. It consisted of Alberto Herrou-Aragon (Mission Leader) and GingerReich (!eseerch Assistant). The public sector investment program wasprepared by the Caribbean Development Bank. This Economic Note updateseconomic performance in St. Kitts and Nevis during 1987-88. It providesinformation on recent economic developments, highlights selecteddevelopment issues and outlines the 1989-91 public sector investmentprogram as well as the Government's external financing requirements. Amore detailed analysis of development issues and performance as well as adiscussion of growth prospects and projections is contained in the reportentitled "Long Term Economic Prospects of the OECS Countries' (ReportNo. 8058-CRG, February 15, 1990).

This document has a restricted distribution and may be used by recipients only in the performanceof their official duties. Its contents may not otherwise be disclosed without World Bank authorization.

ST. KITTS AND NEVIS

Table of Contents

Page No.

I. RECENT ECONOMIC DEVELOPMENT ............... 1................... I

Recent Economic Performance . . .................................. 1Public Finances . ..External Debt... 2

II. SECTORAL DEVELOPMENT ISSUES. 2

Tourism... 2Agriculture... 3Manufacturing... 3

III. PUBLIC SEC'OR INVESTMENT ANDEXTERNALF'.-NANCING REQUIREMENTS. 4

Public Sector Investment Program . . 4External Financing Requirements . . 4

ANNEX I: PUBLIC SECTOR INVESTMENT PROGRA.. 6

ANNEX II: STATISTICAL APPENDIX .. 24

MAP (IBRD 19214R)

ST. KITTS AND NEVIS

I. RECENT ECONOMIC DEVELOPHWNTS

Recent Economic Performance

1. St. Kitts and Nevis has been successful in the implementation ofits development strategy and in the adoption of sound economic polices.During 1982-88, real GDP, fueled by s..rong growth in tourism andcon';truction, which offset the weak performance in sugarcane productioncaused by the reduction in import quotas in the US, expanded by more than52 per annum. But in 1989, Hurricane Hugo hit the country, producingsevere losses in agriculture. Damage to sugar production has beenestimated at 202 of the 1989 crop. In addition, the hurricane causedsignificant damage to the fishing industry in Nevis. It is estimated thatabout 15,000 traps, accounting for approximately 90Z of the one millionpounds of fish landed annually in Nevis, were either destroyed or lost. In1988, GNP per capita reached US$2,770.

2. St. Kitts and Nevis' trade performance reflects capital inflows aswell as world market and climatic conditions that impinge on tourism andsugar production. These inflows, together with tourism and sugar receipts,generate a large fraction of private sector income and merchandise imports.The balance of payments current account deficit increased from about 10? ofGDP in 1987 to 152 in 1988 as capital inflows rose from 9Z of GDP in 1987to 15X in 1988. These increases were accompanied by a 262 and a 192 risein imports, particularly of capital goods, in 1987 and 1988, respectively.At the same time, exports of goods grew by only 32 in 1987 because of adecline in the volume of sugar exports (-12Z) that was not compensated byunit price increases. Tourist expenditures increased by 272 in 1987 withincreases in both the number of visitors and expenditure per visitor. In1988, exports of goods and non-factor services increased by 82 and 112,respectively.

3. Consumer price increases were negligible in 3987 (less than 1X)and in 1988 (virtually nil). However, the official price index mayunderestimate inflation due to coverage deficiencies. Prices of imports ofgoods increased at an annual average rate of 6Z during 1987-88. The labormarket has been under intense pressure from rapidly expanding privatesector activities. Although wage data is limited, increases in nominalwages of about 5-102 annually were reported in wage settlements in 1987-88.

Public Finances

4. The current account surplus of the consolidated public sectordeclined from 72 of GDP in 1987 to about 52 in 1988, with the socialsecurity scheme accounting for savings equivalent to 42 of GDP. Thedecline in public sector savings resulted from a decrease in currentrevenue from 312 of GDP in 1987 to about 30Z in 1988 and an increase incurrent expenditures from 242 of GDP in 1987 to 25Z in 1988. A 52reduction in the corporate tax in 1988, together with increases in tax-

- 2 -

exempt imports, were partially responsible for the contraction of currentrevenues in real terms. Current expenditures rose because of a 202 wageincrease, higher expenditures for goods and services, and rising losses ofthe Electrical Department. However, public sector capital expendituresincreaset. by an amount equal to 2.5 percentage points of GDP in 1988. Theoverall public sector deficit (before grants) climbed from 2.82 of GDP in1987 to 7.5% in 1988. The development of the Southeast Peninsula RoadProject increased fixed central government investment from 72 of GDP in1987 to over 82 in 1988. The purchase of land to develop tourisminfrastructure increaced capital expenditure by about 1.5 percentage pointsof GDP in 1988. As foreign grants declined from about 32 of GDP in 1987 toabout 2X in 1988, the consolidated public sector borrowed an equivalent of22 of GDP from the commercial banking system after being a net lender ofabout 52 of GDP in 1987.

5. The Government has indicated that several revenue-increasingmeasures could be put into place. These may include an annual assessmentand taxation of land in the Southeast Peninsula, increase in electricitytariffs, increase in petroleum prices and the introduction of toll chargeson the Southeast Peninsula road. As the shortage of labor becomes moreacute as tourism and construction expands, the wage bill's share ofgovernment expenditure is likely to increase, particularly if semi-skilledand skilled labor is retained in the public sector.

External Debt

6. At the end of 1988, St. Kitts and Nevis' external debt was US$26.4million, or 222 of GDP. Debt service was 3? of exports of goods andservices and 72 of central government revenues.

II. SECTORAL DEVELOPMENT ISSUES

7. The Government's development strategy is to continue pro-motinggrowth in tourism particularly by granting incentives for furtherdevelopment of the Frigate Bay area and of the Southeast Peninsula. TheGovernment also is committed to improving the efficiency of the sugarindustry and diversifying agricultural production.

Tourism

8. Tourism, starting from a relatively low base, has expanded rapidlyduring 1984-88. Stayover traffic increased at an annual average rate of152. In 1988, however, growth slowed down to 62 as a result of capacityconstraints during a large part of the year. The country seems to be onthe verge of a major expansion in tourism with the opening up of theSoutheast Peninsula and major developments in Frigate Bay and Nevis. Inaddition to the road infrastructure required for the development of theSoutheast Peninsula, water supply is assured by a pipeline to a newreservoir, financed by CIDA at a cost of EC$17 million. At Frigate Bay, acentral sewage system is being installed and a new reservoir is beingconstructed with British development assistance financing at an estimatedcost of EC$4 million. Greater emphasis in developing adequateinfrastructure for tourism and in improving the supporting educational,health and training facilities and services are needed to enhance thequality of the tourism product.

- 3 -

9. Clearly, if tourism is to develop as planned. considerableexpansion of air service to St. Kitts during peak periods will be required.An increasing number of stayover visitors are frcom the United States. In1986 they constituted 36Z of all visitors; in 1988, 42?. Thisconcentration reflects a major marketing change at the 268-room Jack TarVillage, the largest hotel on the island, which has redirected much of itsair charter services from Canada to the-US. The total number of availablerooms increased from 712 in 1987 to 791 in 1988, with an average occupancyrate of 48Z in 1988. Although Golden Rock Airport's runway is adequate forall types of aircraft, as air traffic expands, the airport will require anexpanded apron and, possibly, an additional runway. In addition, theterminal building will demand major improvements as it is already verycongested with the current flow of traffic.

Agriculture

10. Although the sugarcane area cultivated declined 42 in 1988, totalproduction increased by about 5Z; yields rose from 31.5 tons per acre in1987 to about 34.4 tons per acre in 1988. However, prospects remain weakgiven the continued labor shortage and the US quota policy. In 1989Hurricane Hugo hit St. Kitts and Nevis. Losses in sugar production for1990 are estimated at 20? of 1989 production levels. Products such asvegetables and fruits are protected by import-lice-sing and, as demand forfood by tourism increases, this protection has fostered crop production.White potato production increased from 35,000 pounds in 1986 to 235,000pounds in 1988. Carrot production increased from 50,000 pounds in 1986 to100,000 pounds in 1988. Cabbage production also increased from 50,000pounds in 1986 to about 100,000 pounds in 1988. Non-sugar agriculturecontributes only 1.42 of GDP. Unresolved land tenure problems must beaddressed to further develop non-sugar agriculture. However, theincentives provided by a land reform program will not suffice because ofthe wage and cost pressures arising from the expansion of tourism andconstruction. Protectiomn to non-sugar agriculture attempts to linkincreased output with rising demand for agricultural commodities arisingfrom the tourism expansion. On the other hand, as the tourism andconstruction sectors continue expanding, labor is likely to be drawn awayfrom other sectors, including non-sugar agriculture. Thus, the effect ofprotection on non-sugar agriculture is likely to be uncertain over themedium to longer-term.

Manufacturing

11. Sugar's contribution to real GDP declined to 42 in 1988 from 62 in1986 as a consequence of labor shortages and the reduction in the US sugarquota. In 1988 sugar production reached 26,000 long tons, an increase of52 over 1987 levels. However, production is still 10X below 1986 levels.In 1988 garment output fell by 112 compared to 1987 and by 482 compared to1986. Clothing exports fell by 52Z from their 1987 level, when theyreached a record US$6 million. The decline in garment production wascaused by labor shortages. Loss of competitiveness affected footwearproduction, resulting in the closing of the only shoe factory in 1987.

12. An important shift in emphasis has taken place within themanufacturing sector. Electronic firms, unlike garments and shoes, havebeen able to expand production and employment. In 1987, employment inelectronics firms (957 workers) was higher than in garments (897 workers).

4-

Currently, the electronics industry is confident that it can attract laborat prevailing wage rates. However, over the long-term, as tourism andconstruction activities expand. increased labor market pressures could drawworkers away from these industries. To help mitigate these pressures, theauthorities would need to eliminate all restrictions on immigration withinthe Caribbean Region.

III. PUBLIC SECTOR INVESTMENT AND EXTERNAL FINANCING REQUIREMENTS

Public Sector Investment Program

13. Total planned investment expenditure for the period 1989-91 isestimated at EC$145 million (US$54 million). Projects designed todiversify the agricultural sector comprise 17X of the PSIP. Projects toupgrade infrastructure (water, energy and transportation) account for 45tof the PSIP, with transportation projects alone accounting for 222 of thePSIP. Projects for the social services sector (health, housing andeducation) account for 16? while general public services, industry andother projects comprise the remaining 22Z.

14. The composition of the PSIP is consistent with the Government'sobjective of diversification of agriculture and development of tourism andmanufacturing. In the non-sugar agriculture sector, major ongoing projectsinclude the Small Farm Equipment Pool; the Tick Eradication Project,designed to improve the health of the cattle population; and the NisbetIrrigation Project. New projects include the Agricultural DiversificationProgram, which emphasizes increased investment into non-sugar agriculturefor the production of fresh agricultural products to serve the tourismindustry; and the development of an abattoir in Charlestown, Nevis. Insugar, the Sugar Estate Lands Project is designed to continue mechanizationof the suga: harvest to compensate for the shortage of labor. Ininfrastructure, the major ongoing projects include Phase I of the FrigateBay Sewerage Project, which would eliminate the insufficient capacity ofthe existing treatment plant, and the Water Development Phase I Project,which extends water distribution to the Southeast Peninsula. New projectsinclude the North Nevis Water Distribution Project and the South NevisWater Facility. In St. Kitts, the construction of a reservoir in FrigateBay is aimed at eliminating excess demand for drinking water. In energy,two major ongoing projects include the St. Kitts Electricity Project andthe construction and equipment of a generating plant in Nevis. In Nevis, aproject for the improvement of transmission and distribution facilitiesalso is contemplated. In manufacturing, the major ongoing projects involvethe provision of factory space for business enterprises. Maior newprojects include the preparation and provision of infrastructure at BirdRock Industrial Site, Ponds Industrial Site Extension 2. and the SandyPoint Industrial Site.

External Financing Requirements

15. The financing requirements of the PSIP during 1989-91 amount toUS$54 million. Scheduled amortizations are estimated at US$3 million.Public sec*or savings are projected to provide approximately US$8 millionof total external financing requirements while net domestic credit isprojected to finance US$9 million. Scheduled disbursements under external

commitments for ongoing projects would provide jS$16 million. A financinggap for the three years of about US$24 million would remain, of whichUS$22 million represents financing for projects for which external donorshave already been identified and US$2 million r.epresents financing for newprojects for which the Government is seeking donor assistance.

ST. KITTS AND NEVIS: PUBLIC SECTOR FINANCING REQUIREMENTS, 1989-91(in millions of EC dollars)

T O T A L1989 1990 1991 EC$ US$

Financing Requirements 66.8 56.9 30.8 154.5 57.2Public Sector Investmert 63.6 53.7 27.6 144.9 53.6Scheduled Amortization 3.2 3.2 3.2 9.6 3.6

Sources 51.3 19.3 17.1 87.7 32.5Public Sector Savings 3.5 6.2 11.0 20.7 7.7Ongoing External 31.2 8.8 3.1 43.1 16.0Domestic Credit (net) 16.6 4.3 3.0 23.9 8.9

Financing Gap 15.5 37.6 13.7 66.8 24.7Identified External 15.2 32.2 13.0 60.4 22.4Unidentified External 0.3 5.4 0.7 6.4 2.3

Source: IBRD and Caribbean Development Bank estimates and projections.

- 6 -

ANNEX IPage I of 18

PUBLIC SECTOR INVESTMENT PROGRAM

-7 - ANNEX IPage 2 of 18

ST. KITTS AND NEVISs MAJOR ONGOING PROJECTS AND SOURCE OF FDANCIN, 1089-91

(SEC 000)

EXERNAL FDNANCINW LOCAL FINANCINGTOTAL - - - -COST TYPE AMOUNT SOURCE ALMUNT

Agriculture 54,207___________

Input Supply/Sm ll Form Equipmnt Pool 1,644 Loan 51 COo 0 0Abattolr 2,675 Grant 460 CIDA 43 2Tlck Erodicetlon 1,294 urant 864 09v 0 0Pig Breeding Unit-Wevia 52 Grant S2 CARDATS 0 0Food Crop Productlon-SSKC 149 Grant so on0 0 0Fisheries Developmnt 4,600 Grant 0 Unknown 0 0Marketing Organization 000 Grant 0 Unknown 0 0Potworke/Spring Hill Irrlgatlon 66 Local so oAF 0 0Plnneys Estate e.000 Grant 0 Local 6,000 100New River Fodder Bank-Nevie 160 Grant 160 Unknown 0 0Niabett Irrigation-Movie 67 Grant 7 NWA 0 0White Potato Production-Nevis 26 Grant 26 NAF 0 0Sugar Estate Lnds 34,600 Local 0 Unknown 7,600 22

Education 11,269

7ewetead School-Rebuilding 2,600 Grant 0 U4kxown 0 0Technical/Vocational Project 5,478 Loan 4,015 CDB/IDA/OPEC 405 7School Buildings Maintenance 136 Grant 116 USAID 0 0School Restrooms 200 Local 0 Local 169 80School Farm Project 67 Grant 22 USAID 0 0Cherlestown Primary school-Nevio 2,000 Grant 2,000 OF 0 0School Feeding Facilities 600 Grant 0 Local 20 8St. George Womn's Centre 82 Grant U2 Unknown 0 0Equipment-Nurseries 62 Grant 84 CIDA 0 0

Energiy 18,001

Exploratory Well-Drilling 62 Local 0 Local 62 100Exploratory Drilling 5,940 Grant 4,586 CIDA 0 0St. Kitte Electricty Project 8,709 Gront 0 Unknown 0 0Street Lighting Extension-East Bay Rd. 20 Local 0 Local 20 100Generating Plant-Nevis 8,250 Local 0 Local 8,250 100

Hbelth and Community Services 2,091

Cardin Home Extension 803 Grant 0) Bo 0 0Community Developmeht 1,684 Grant 69 Unknown 0 0Rural Pisying Flelds-Leveling 280 Grant 0 Lab. W. Germ 146 eaBoyds Plsying Field S Grant 0 Unknown 0 0Verchilds Hard Courts 27 Loan 0 Unknown 0 0Pavillion-Sandy Point Playing Field 159 Local 0 Local 126 79Sports Complex-Pond Site Development 208 Grant 0 Unknown 0 0Oarbage Diposel Vehicle 140 Grant 0 Unknown 0 0

-8-ANNEX IPage 3 of 18

St. KITTS AM NEVIS: MAJOR ONGOING PROJECTS AND SOURCE OF FINANCINO, 1989-91(Con0t) (3EC 000)

EXTERNAL FINANCING LOCAL FINANCINGTOTAL ----------- ---------------COSt TYPE AMOUNT SOURCE AMOUWT %

--------------------------------------------------------------------- __------__-----------------------

HousIng 18,319

Low Income loousing-Inf rstructure 2,105 Local 0 Local 1,856 esN.w Road Housing Development 1,086 Local 0 Local 969 93Low Income Houai"g-(Envenolce 600) 8,200 Loan 0 Unknown 0 0Low Incoms Housing-OROC 4,032 Loan 1e637 Taiwon 0 0Low Income ltejosing-Roads 266 Grant 0 Lob. W. Fed. 104 89Bird Rock Road Residential and 2,600 Local 0 Local 2,179 84

Commerclal Develop.

Industry 7,349

Industrial Estates IV 1,09t Local 600 Unknown 0 0Industrill Site Development 6,253 Local 2,409 CoB 0 0

Transportation 89,216

South-East Peninsula Rood 80,618 Lean 16,766 USAID 0 0Jtssups say road-4Novis 250 Grant 260 SPIF 0 0Road Construction-Frigate Bay 500 Loan 0 Unknown 0 0South-eat Peninsula Develop. Project 3,8e6 Loon 2,223 USAID 0 0

Stone Crusher and Asphalt Plant 8,282 Grent 1,48a 8DD 0 0New River estate Rood-NMvis 205 Orent 204 SPIF 0 0

-9-ANEX IPage 4 of 18

ST. KITTS AND NEVIS: MAJOR ONQOING PROJECTS AND SOURCE OF FINANCING, 1981-91(Con't) ($EC 000)

-_-----------------------------------------------------------------__--------__-_---_-_-_-------------

EXTERNAL FINANCING LOCAL FINANCINGTOTAL ------------------ ---------------COST TYPE AMOUNT SOWRCE AMOUNT X

Public Safety 100

Re-wiring Police Headquarters 100 Local 0 Local 85 85

Water and Sewerage 6,019

Water Development I 4,443 Grant 2,242 CIDA 0 0Sewerage-Frigate Bay-Stage 1 2,160 Grant 1,288 CIDA 1,682 77Water Supply to Schools 16 Local 0 Local a a8

Development Bank of St. Kitts and Nevis 24,706

Student Loans Tl 675 Loan 0 CDB 0 0Student Loans III 945 Loan 0 CDOB 0 0Student Loans IV 1,620 Loan 284 CDOB 0 0Consolidated Line of Credlt II 5,400 Loan 0 COB 0 0Consolidated Line of Credit III 10,800 Loan 0 CBO 0 0Global Loan II 65,26 Loan 0 EI8 0 0

Administration 1S

Equipment for Planning Unit 16 Grant 8 UNDP 0 0

Multi-Sectoral 1,910

Development Project 480 Loan 167 Chins 0 0Multi-purpose Rehabil. Centre 68 Grant 80 CIDA 0 0Purchse of Shares-Corlb'n Food Corp. 67 Local 0 Local 16 27Mission Administered Funds (1988/91) 1,850 Grant 610 CIDA 0 0-----------..------------------------------------------------------------ __--__----------------------

- 10 -

ANNEX IPage 5 of 18

ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCING, 1999-91(EC$ 000)

…__________________________________________________________________________________________-_________EXTERNAL FINANCING LOCAL FINANCING

TOTAL ------------------ ---------------COST TYPE AMOUNT SOURCE AMOUNT X

Agriculture 27,748

Multi-purpose Agricultural Buliding 283 Grant 268 CIDA 0 0Livestock Development-CARDATS 1,238 Grant 1,288 UNDP/ARAB 0 0Forestry Devel. A Resource Management me Grant 422 OAS 0 0Livestock Improvement-troughs A cutters 110 Orant 0 Unknown 0 0Soil Advisory Services Project 181 Orent 180 FAO 0 0Abattoir/Curring Roam-Nevis 516 Loan 440 BDD 0 0Revegetation-South East Peninsula 540 Grant 540 USAID 0 0Renovation of Fisheries Building 28 Local 0 Local 28 100Pest Managenont end Plant Queretine 405 Grant 260 FAO 0 0Marketing Division 428 Orsnt 420 CIDA 0 0SSMC Factory Evaporators 888 Grant 888 DOD 0 0Agricultural Diversificatlon 12532 Loan 0 Unknown 0 0Development of Orazing Pastures 810 Orent 0 Unknown 0 0Mechanical Cane Harvesters 6000 Orant 0 Unknown 0 0Moddens Farm Rehabilitation 260 Orant 0 Unknown 0 0Field Equipment 2600 Orant 0 Unknown 0 0Construction of Breakwater-Old Road 46 Loeal 0 Local 46 100

Education 16,682

Centre for Handicapped Children 28 Orant 23 Germany 0 0Basseterre Primary School 2,700 Orent 2,600 EDF 0 0Trinity Primary School 602 Grant 0 EDF 0 0Adult Education Factilities-Extension 28 Orant 28 Oermany 0 0School Meals Van ao Local 0 Local 8o 100Cayon High School 60 Orant 60 Unknown 0 0Tabernacle School 400 Orant 400 Unknown 0 0St. Peter's Pr mary 80 Grant 80 Unknown 0 0Hotel Training Unit, College of Fu.therEducation 260 Orant 260 COB 0 0

Multi-purpose Workshop 1600 Orant 1600 COB 0 0Equipment, College of Further Education 250 Orant 260 CD8 0 0Filing Cabinets for Schools 26 Local 0 Local 26 100Basseterre High School 1200 Orant 0 Unknown 0 0Charlestown Secondary School-Nevis 480 Orent 0 Unknown 0 0Essridge Primary School 29 Grant 0 Unknown 0 0Newatead Building 8260 Loan 0 CD8 0 0New Public Llbrary 2600 Grant 0 Unknown 0 0College St. 120 Loan 0 COB 0 0Fencing for School 200 Orant 0 Unknown 0 0Day Care Centre-St. John;St. Thomas-Nevis 400 Orant 0 Unknown 0 0Oleppe Bay Primary School 600 Grant 0 Unknown 0 0Equipment for Tech. Cent, In High Schools 200 Orent 0 Unknown 0 0College for Further Education 1700 Loan 0 Unknown 0 0

- 11 -

ANNEX IPage 6 of 18

ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCINO, 1989-91(Con t) (ECC 000)

EXTERNAL FINANCING LOCAL FINANCINOTOTAL ----- ---------------COST TYPE AMOUNT SOURCE AMOUNT %

____________________________________________________________________________--________________________

Energy 26,641

Transmission A Distrib. System-Nevls 2,638 Loan 2,838 8DD 0 0Addit. LV lines-Housing Area, Upper Cayon 64 Local 0 Locsl 64 100Foundation Block #1 KV2 Gen Set-Repairs 360 Local 0 Locel 850 100Additional LV lines at whites 21 Local 0 Local 21 100Electrical Measuring Instruments 18 Local 0 Local 18 100Electrical Metering 860 Loan s8o eDD 0 0Five Ton Crane Truck 200 Local 0 Local 200 100Halfway Tree-Harry Phipps 12 Local 0 Local 12 100Street Lighting Along Airport road toWellington Road 60 Grant SO Local 0 0

Computer for Billing 485 Loan 0 Unknown 0 0Electricity Distribution-Novis 586 Grant 0 Unknown 0 0Rural Electrification-Nev's 200 Grant 0 Unknown 0 0Transport Equipment 850 Grant 0 Unknown 0 0S.E Peninsula Electricity-St. Kitts 13000 Grant 0 Unknown 0 0Industrial Estate-Electricity 68 Grant 0 Unknown 0 0Oiesel Generator-Nevos 1616 Grant 0 Unknown 0 0Additional 4.6 MW Generator 600 Orant 0 Unknown 0 0

Heaith and Community Services 4,108

Seating Facilities-Verchilds Playing Fields 7 Grant 0 Lab. W.Gorm 7 100Golf Shop - Frigate Bay 400 - 0 - 0 0Sports Complex-Sandy Point 70 Local 0 Local T0 100Sandy Point Complex 70 Local 0 Local 70 100St. Peter's Community Centre 60 Grant 6o USAID 0 0Solid Waste Disposal 400 Loan 400 BDo 0 0Registrar Oeneral's Office Improvement 100 Local 0 Local 100 100Social Development-St. K-ts 450 Loan 450 ODD 0 0Lodge Community Centre 80 Grant 80 Unknown 0 0Registrar General's Office Improvement 100 Grant 100 Unknown 0 0Renovation, J.M.F Hospital 950 Grant 960 Unknown 0 0Pathology Extension Laboratory 85 Grant 0 Unknown 0 0Community Contres-Nevis 600 Grant 0 Unknown 0 0Dental Clinic 6o Grant 0 Unknown 0 0Sandy Point Health Centre 179 Orant 0 Unknown 0 0Pediatric Wing, Pogson Hospital 257 Grant 0 Unknown 0 0Improvement of Health Centre 220 Grant 0 Unknown 0 0Opthalmic Unit 120 Grant 0 Unknown 0 0

- 12 -

ANNEX IPage 7 of 18

ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCING, 1939-91(Con 't) ($EC 000)

------------------------------------------------------------------- __--------_.----------------------

EXTERNAL FINANCING LOCAL FINANCINGTOTAL ------------------ ----------COST TYPE AMOUNT SOURCE AMOUNT N

----- _--------------------------------------------------------------__-------__----------------.------

Housing 1,9S

Bird Rock Extension, Phase II 237 Local 0 Local 287 100Tabernacle Housing Development e72 Orant 871 Lob W. Fd. 0 0Improvement of low Income Housing 147 Local 0 Local 147 100Ottleys Housing Project (Infrastructure) 228 Grant 226 Lab W. Fd. 0 0

8ird Rock Comercial Site 3ao Local 0 Local 8ao 100Cunningham Estate Housing 86 Orant 40 Unknown 46 63Land Development for Industrial Purposes

Canada Estate 800 Orant 800 Unknown 0 0

Industry 918

Sandy Point Industriel Site 200 Orant 200 USAID 0 0Bird Rock Industrial Site 213 Grant 0 Unknown 0 0Ponds Industrial Site 500 Local 0 Unknown 0 0

Public Safety 7,986

Deference Force Headquarters Improvement 80 Grant 80 Unknown 0 0Firefighting Equipment 473 Loan 478 Bi)D 0 0New Station-Sandy Point 2,600 Loan 2,500 BDD 0 0Police Station Rehabilitation 1,000 Loan 1,000 BODD 0 0

Building for Generator 9 Local 0 Local 9 100

Fire Brigade Equipment 120 Local 0 Local 120 100

Improve, to Police Stations A Training School a8 Local 0 Local 36 100Purchase of Alarm System-Prison 4 Local 0 Local 4 100

Improvement to Prison Farm-Nevis 40 Local 0 Local 40 100Improvement to Male Prison-Basseterre 16 Local 0 Local 15 100Re-Location of 212 Radio Transmitter Mast 185 Local 0 Local 18S 100Leael and Judicial Complex 8600 Grant 8500 USAID 0 0Purchase of New Truck 76 Grant 0 Unknown 0 0

Tourism 18,774

Tourism Centre-Basseterre 83,19 Loan 3,057 CDB,PVT 262 8

Restoration of Path Hotel 16466 Loan 0 CDB 0 0

- 13 -ANNEX IPage 8 of 18

ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCING, 1989-91(Con't) (SEC 000)

EXTERNAL FINANCING LOCAL FINANCINGTOTAL ------------------ ---------------COST TYPE AMOUNT SOURCE AMOUNT 5

Transportation a9,784

Navigational Aids-Golder Rock Airport 1,000 Grant 1,000 CIDA 0 0Car Path Tow 120 0rant 120 USAID 0 0Rawlin road 40 Grant 40 USAID 0 0Frigate Bay Road/E. Bssseterr By-pass Road 1,680 Grant 1,680 ODD 0 0Brown Hill Bridge-Nevie 12 Grant 12 USAID 0 0Feeder Road-Nevis 640 Grant 640 CDf/USAID 0 0Beaumont Road-Nv I8 3O Grant 30 USAID 0 0Molineux Village Road-Nevis 40 Orant 40 USAID 0 0Concrete Drains-gird Rock Road a3 Local 0 Local as 100Workshop & Abolution Fac-C'da Crusher Site 80 Local 0 Local 80 100Renovation of Garage Building, La auerite 3,800 Local 0 Local 3,800 100Church Ground Footpath 8 Grant 8 USAID 0 0Sea Defence Morris 854S Loan 2657 CDB 850 10Ferry Boet Pier 7685 Loan 6864 CD8 B88 6Asphalt Re-surfacing 1000 Grant 0 Unknown 0 0Warehouse Plr Refurbishment 6oo Grant 0 Unknown 0 0Workshop 70 Grant 0 Unknown 0 0Sea Port Charlestown-Nevis 18500 Loan 0 Unknown 0 0Asphalt Plant and Lorry 255 Grant 0 Unknown 0 0Treasury Pier-Refurbishment So0 Loan 0 Unknown 0 0Eastern Besseterre by-pass Road 800 Grant 0 Unknown 0 0Spare pumps and Motors-Nevis 100 Grant 0 Unknown 0 0S.E.P 140A Markings 124 Grant 0 Unknown 0 0New Roada-NevTs 120 Grant 0 Unknown 0 0Airport Expansion-Nevis 5000 Loan 0 Unknown 0 0

Water and Sewerage 19,129

Tabernacle 2,800 Grant 2,800 Unknown 0 0Watsr Development II - Nevis 1,694 Grant 0 EDF 0 0South Nevis Water 2,286 Loos 2,286 BDD 0 0Construction of Reservoir-Frigate Bay 2,765 Loan 2,76 BODD 0 0Standby Equipment for Pumps 260 Local 0 Local 206 79Construction of Reservoir-Conaree 96 Local 0 Local 98 100North Nevis Water Distribution II 1,380 Grant 1,328 BDD 0 0Extension of Water Distrib System-Old Road 50 Local 0 Local SO 100Pipeline Replacement-Gibbons Resevoir 185 Local 0 Local 186 100Water Development Master Plan 8000 Grant 0 Unknown 0 0Pipeline-Well Site to Reservoir 123 Grant 0 Unknown 0 0Construction of Reservoir-Secdlers 190 Grant 0 Unknown 0 0


ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCING, 1969-91(Con't) (SEC 000)

------------------------------------------------------------------- __-----_-___------------------_----

EXTERNAL FINANCING LOCAL FINANCINGTOTAL - - - - - - - -COST TYPE AMOUNT SOURCE AMOUNT X

Development Bsnk of St. Kitta end Nevie 16,200

Consolidated Llne of Credit 16,200 Loan 10,126 COo 2,025 is

Adminlotration 5,620- -- -- -- -- - - -- -- ---

Manpower Survey and Planning 807 Orant 807 OAS 0 0

Printing Press 90 Local 0 Local 90 100

Vertical Plan Cabinets-PWD Drawing Office 6 Local 0 Local 5 100

Institutional and Operational Project 657 Grant 618 OAS 0 0

Micro Computer 178 Grant 176 UNDP 0 0

Photocopying Machine 15 Local 0 Locol 1s 1oo

St. Kitts Courthouse 4,368 Orant 4,868 USAID 0 0

Other 2,086

Sandy Point Coastal Protectlon 26 Local 0 Local 25 loo

Labour Force Survey 420 Grant 210 OAS 0 0

Renovation of Garoge Building, La Guorite 88 Orant 88 Unknown 0 0Day-Care Centre-Proj. Industrial Estate 600 Grant 700 Unknown !00 18Garden Playing Field Improvement 100 Grant 100 Unknown 0 0Multi-purpose Athletic Stadium 600 Orant 600 Unknown 0 0

Construction of Bleacher 46 Local 0 Local 46 100

Phillips Ohout Improvement 41 Local 0 Local 41 100…---------------------------------------------------------------------__-----__---------------------


ST. KITTS AND NEVIS: MAJOR NEW PROJECTS AND SOURCE OF FINANCINO, 198-91(Con't) ($EC 000)

------------------------------------------------------------------- __--------__-----------------------

EXTERNAL FINANCING LOCAL FINANCINGTOTAL -------------- --------------COST TYPE AMOUNT SOURCE AMOUNT x

-------------------------------------------------------------------- __--.----__------------------------

Development Bank of St. Mitts and Nevie 16,200

Consolidated Line of Credit 16,200 Loan 10,126 CuB 2,026 18

Administration 6,620

Manpower Survey and Planning 807 Grant 807 OAS 0 0Printing Press 90 Local 0 Local 90 100Vertieal Plan Cebinets-PWD Drawing Office 6 Local 0 Local 6 100Inatitutlonal and Operational Project 067 Grant 618 OAS 0 0Micro Computer 178 Orsnt 178 UNDP 0 0Photocopying Machine 15 Local 0 Local 15 100St. Kitts Courthouse 4,860 Grant 4,386 USAID 0 0

Other 2,065

Sandy Point Coastal Protection 25 Local 0 Local 25 100Lebour Force Survoy 420 Grant 210 OAS 0 0Ronovation of Garage Building, La uaerite 88 Grant 88 Unknown 0 0Day-Care Centre-Proj. Industrial Estete 800 Grant 700 Unknown 100 18Garden Playing Field Improvement 100 Grant 100 Unknown 0 0Multi-purpose Athletic Stadium 600 Orent 600 Unknown 0 0Construction of Bleacher 46 Local 0 Local 46 100Phillilps Ohout Improvement 41 Local 0 Local 41 100

TOTAL - ALL PROJECTS 866,845Total - Onoging ProJects 178,691Total - New Projects 187,654

------------------------------------------------------------ ___---------------__--------------------

ST. KrTTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(EC$ 000)

1989 l990 1991

External Local Total External Local Total External Local Total

TOTAL - ONGOING PROJECTS 31,228 10,154 41,382 8,777 6,803 14,680 3,099 10,615 13,714

Agriculture 879 4,248 5,127 205 1,500 1,705 184 9,800 9,984

Input Supply/Small Farm Equipment Pool 61 0 61 0 0 0 0 0 0Abattoir 480 48 508 0 0 0 0 0 0Tick Eradication 70 0 70 ISO 0 1SO 184 0 184Pig Breeding Unit-Novie 62 0 52 0 0 0 0 0 0Food Crop Production-SSMC 28 0 28 20 0 20 20 0 20Fisheries Development 0 0 0 0 0 0 0 0 0Marketing Organization 0 0 0 0 0 0 0 0 0Potworke/Spring Hill Irrigation S8 0 S8 0 0 0 0 0 0Pinneys Estate 0 0 0 0 0 0 0 8,000 8,000New River Fodder Bank-Novis L1o 0 160 0 0 0 0 0 0Ntsbett Irrigation-Nevis 0 0 0 7 0 ? 0 0 0White Potato Production-Nevis 0 0 0 28 0 28 0 0 0Sugar Estate Lands 0 4,200 4,200 0 1500 1,600 0 1,800 1,800

Educat' on 695 88 783 4,688 375 5,013 1,888 121 1,809

Newetead School-Rebuilding 0 0 0 0 0 0 0 0 0Technical/Vocational Project 601 68 669 83,26 218 3,742 688 121 809School Buildings Maintenance 40 0 40 78 0 78 0 0 0School Restrooms 0 0 0 0 169 169 0 0 0 _

School Far Project 22 0 22 0 0 0 0 0 0 0'Charlestown Primary school-Nevis 0 0 0 1,000 0 1,000 1,000 0 1,000School Feeding Facilities 0 20 20 0 0 0 0 0 0St. George Women's Centre 32 0 32 0 0 0 0 0 0Equipment-Nurseries 0 0 0 34 0 34 0 0 0

Energy 4,636 3,270 7,808 0 82 82 0 0 0

Exploratory Well-Drilling 0 0 0 0 82 82 0 0 0Exploratory Drilling 4,588 0 4,536 0 0 0 0 0 0St. Kitts Electricty Project 0 0 0 0 0 0 0 0 0Street Lighting Extension-East Bay Rd. 0 20 20 0 0 0 0 0 0Generating Plant-Nevis 0 3,250 3,250 0 0 0 0 0 0

Health and Community Services 75 11S 190 14 1SS 169 0 0 0__ _ __ ___ _ _____ __-- _ -- --- ---- ---- ------ ------ o >0a

Cardin Home Extension 0 0 0 0 0 0 0 0 0 xCommunity Development 76 0 76 14 0 14 0 0 0Rural Playing Fields-Leveling 0 66 85 0 80 80 0 0 0 - HBoyds Playing Field 0 0 0 0 0 0 0 0 0 0Verchilds Hard Courts 0 0 0 0 0 0 0 0 0Pavillion-Sandy Point Playing Field 0 SO s0 0 76 76 0 0 0Sports Complex-Pond Site Development 0 0 0 0 0 0 0 0 0 °Garbage Disposal Vehicle 0 0 0 0 0 0 0 0 0

ST. KITTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(Con 't) (EC1 000)

1989 1890 1991


Housing 728 2,024 2,747 467 2,894 2,861 457 079 1,138

Low Income Housing-Infrastructure 0 5W 500 0 1,365 1,865 0 0 0New Road Housing Development 0 680 880 0 279 279 0 0 0Low Income Housing-(Envenalca SO0) 0 0 0 0 0 0 0 0 0Low Income Housing-ORDC 728 0 728 467 0 457 467 0 457Low Incono .ousing-Roads 0 94 94 0 10 10 0 0 0Bird Rock Road Residential and 0 750 750 0 750 760 0 879 679

Commrcial Develop.

Industry 1,000 0 1,000 1,409 0 1,409 SOO 0 SOO

Industrial Estates IV 0 0 0 0 0 0 50 0 500Industrial Site Development 1,000 0 1,000 1,409 0 1,409 0 0 0

Transportation 20,058 0 20,058 619 0 819 0 0 0

South-East Peninsula Road 16,765 0 16,765 0 0 0 0 0 0Jessups Bay road-Nevis 0 0 0 250 0 250 0 0 0

Road Construction-Frigate Bay 0 0 0 0 0 0 0 0 0Southeast Peninsula Develop. Project 1,868 0 1,858 8S 0 J865 0 0 0Stone Crusher and Asphalt Plant 1,4U3 0 1,488 0 0 0 0 0 0New River estate Road-Nvis 0 0 0 204 0 204 0 0 0

'I'X

I-H

0'4,

0

ST. KMTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(Con t) (EC: 000)

1989 1990 1991


Public Safety 0 6 6 0 16 i5 0 1S 16

Re-wiring Police Headquarters 0 6 C 0 1S 15 0 15 15

Water and Sewerage 2,802 893 2,996 928 1,275 2,208 0 0 0

Water Development I 1,688 0 1,688 S79 0 679 0 0 0Sewerage-Frigate Bay-Stage I 939 887 1,828 849 1,276 1,824 0 0 0Weter Supply to Sehools 0 8 6 0 0 0 0 0 0Water Development II

Development Bonk of St. Kitts and Nevis 284 0 284 0 0 0 0 0 0

Student Loans II 0 0 0 0 0 0 0 0 0Student Loans III 0 0 0 0 0 0 0 0 0Student Loans IV 234 0 284 0 0 0 0 0 0Consolidated Line of Credit II 0 0 0 0 0 0 0 0 0Consolidated Line of Credit III 0 0 0 0 0 0 0 0 0Global Loan II 0 0 0 0 0 0 0 0 0

Administration 8 0 8 0 0 0 0 0 0

Equipment for Planning Unit 8 0 8 0 0 0 0 0 0

Multi-Sectoral 420 11 431 307 7 314 270 C 270

Development Project I8O 0 180 27 0 27 0 0 0 'Multi-purposoe Rehabil. Centre 20 0 20 10 0 10 0 0 0 °Purchase of Sharee-Carib'n Food Corp. 0 11 11 0 7 7 0 0 0Mission Administered Funds (1998/91) 270 0 270 270 0 270 270 0 270 oo

ST. KITTS AND NEVIS - PUBUC SECTOR INESTMET PROGRAMME, 1989-2991(Con't) (EC$ 000)

1989 1990 1991


TOTAL - NEW PROJECTS 15,619 6,706 22,260 87,194 1,948 89,142 18,104 816 18,920

Agriculture 1,310 23 1,388 2,129 48 2,127 1,234 0 .,234

Multi-purpose Agricultural Building 0 0 0 288 0 288 0 0 0Livestock Development-CARDATS 378 0 878 480 0 430 480 0 430Forestry Dovevl. Resouce Management 22 0 22 100 0 100 800 0 300Livestock Improvement-troughs & cutters 0 0 0 0 0 0 0 0 0Soil Advisory Services Project 60 0 80 80 0 60 80 0 8oAbattoir/Curring Roem-Nevi' 0 0 0 200 0 200 240 0 240Rovegotation-South East Peninsula 800 0 800 140 0 140 100 0 looRenovation of Fisheries Building 0 28 23 0 0 0 0 0 0Post Management and Plant Quaratine s0 0 sO 100 0 100 100 0 100Marketing Division Outlet 0 0 0 428 0 428 0 0 0SSMC Factory Evaporators S00 0 500 88 0 a88 0 0 0Agricultural Diversification 0 0 0 0 0 0 4 0 4Development of Grazing Pastures 0 0 0 0 0 0 0 0 0Mehanic;l Cone Harvesters 0 0 0 0 0 0 0 0 0Maddens Form Rehabilitatlon 0 0 0 0 0 0 0 0 0Field Equipment 0 0 0 0 0 0 0 0 0Construction of Breakwater-Old Road 0 0 0 0 46 4e 0 0 0

Education 2,848 80 2,676 2,850 25 2,676 0 0 0

Contre for Handicapped Children 28 0 28 0 0 0 0 0 0Bas8eeorre Primary School 2,800 0 2,800 0 0 0 0 0 0Trinity Primary School 0 0 0 0 0 0 0 0 0Adult Education Factilities-Extension 28 0 23 0 0 0 0 0 0School Meats Van 0 30 8o 0 0 0 0 0 0Cayon High Schools 0 0 0 80 0 80 0 0 0Tabernacle School 0 0 0 400 0 400 0 0 0S*. Peters Primary 0 0 0 80 0 80 0 0 0Hotel Training Unit, College of Further 0 0 0 260 0 260 0 0 0Education

Multi-purpose Workshop 0 0 0 1800 0 1600 0 0 0Equipment, College of Further Education 0 0 0 250 0 250 0 0 0Filing Cabinets for Schools 0 0 0 0 25 26 0 0 0Basseterre High School 0 0 0 0 0 0 0 0 0Charlestown Secondary School-Nevis 0 0 0 0 0 0 0 0 0Essridge Primry School 0 0 0 0 0 0 0 0 0 oe

Nowateed Building ~0 0 0 0 0 0 0 0 0 Neestead Building 0 O OO O OO OOiNew Public Library 0 0 0 0 0 0 0 0 0College St. Chaut 0 0 0 0 0 0 0 0 0Fencing for School 0 0 0 0 0 0 0 0 0 0Day Care Centre-St. Thomas-Nevis 0 0 0 0 0 0 0 0 0Oloppe Bay Primary School 0 0 0 0 0 0 0 0 0Equipment for Tech.Cent. in High Schools 0 0 0 0 0 0 0 0 0College of Further Education 0 0 0 0 0 0 0 0 0

ST. KITTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(Con't) (ECS 000)

1989 1990 1991


Energy 0 85S 855 3,748 0 3,748 0 0 0

Transmission & Distrib. System-Nevis 0 0 0 2,888 0 2,888 0 0 0Addit. LV lines-Housing Area, Upper Cayon 0 54 54 0 0 0 0 0 0Foundation Block t1 KY2 Gen Set-Repairs 0 aso a3o 0 0 0 0 0 0Addit;ontl LV lines at whites 0 21 21 0 0 0 0 0 0Electrical Measuring Instruments 0 18 18 0 0 0 0 0 0Electrical Metering 0 0 0 880 0 880 0 0 0Five Ton Crane Truck 0 200 200 0 0 0 0 0 0Halfway Tree-Harry Phipps 0 12 12 0 0 0 0 0 0Street Lighting Along Airport road to

Wellington Road 0 0 0 SO 0 SO 0 0 0Computer for Billing 0 0 0 0 0 0 0 0 0Electricity Distribution-Nevis 0 0 0 0 0 0 0 0 0Rural Elictrification-Novis 0 0 0 O 0 0 0 0 0Transport Equipment 0 0 0 0 0 0 0 0 0S.E Peninsula Electricity-St. Kitts 0 0 0 0 0 0 0 0 0Industrial Estate-Electricity 0 0 0 0 0 0 0 0 0Diesel Generator-Nevis 0 0 0 0 0 0 0 0 0Additional 4.6 MW Generator 0 0 0 0 0 0 0 0 0

Health and Cosmunity Services 80 247 807 1,580 0 1,680 400 0 400

Seating Facilities-Verchilds Playing Fields 0 7 7 0 0 0 0 0 0Golf Shop - Frigate Bsy 0 0 0 0 0 0 0 0 0Sports Complex-Sandy Point 0 70 70 0 0 0 0 0 0Sandy Point Complex 0 70 70 0 0 0 0 0 0St. Peter's Community Centre 80 0 80 0 0 0 0 0 0Solid Waste Disposal 0 0 0 400 0 400 0 0 0Registr%r General's Office Improvement 0 100 100 0 0 0 0 0 0Social Development-St. Kitts 0 0 0 460 0 450 0 0 0Lodge Community Centre 0 0 0 80 0 80 0 0 0Registrar General's Office Improvoemnt 0 0 0 100 0 100 0 0 0Renovation, J.M.F Hospital 0 0 0 560 0 650 400 0 400Pathology Laboratory Extension 0 0 0 0 0 0 0 0 0Community Centres-Novis 0 0 0 0 0 0 0 0 0Dental Clinic Molineux 0 0 0 0 0 0 0 0 0Sandy Point Health Centres 0 0 0 0 0 0 0 0 0Pediatric Wing, Pogson Hospital 0 0 0 0 0 0 0 0 0Improvement of Health Centres 0 0 0 0 0 0 0 0 0 0 Opthalmic Unit 0 0 0 0 0 0 0 0 0 , X

0

ST. KITTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(Con't) (EC8 000)

1989 1990 1991


Housing 375 287 842 630 396 1,026 232 98 330

Bird Rock Extension, Fhases o 0 89 89 0 loo 100 0 98 98Tabernacle Housing Development 289 0 239 200 0 200 282 0 232Improvemont of low Income Housing 0 98 98 0 49 49 0 0 0Ottleys Housing Project (Infrastructure) 1g8 0 1go 90 0 90 0 0 0Bird Rock Commreial Site 0 130 130 0 200 200 0 0 0Cunningham Estate Housing 0 0 0 40 48 86 0 0 0Land Development for Industrial PurposesCanada Estato 0 0 0 a80 0 800 0 0 0

Industry 200 0 200 0 0 0 0 0 0

Sandy Point Industrial Site 200 0 200 00 0 0Bird Rock lndustrial Site 0 0 0 0 0 0 0 0 0Ponds Industrial Site, Extension 2 0 0 0 0 0 0 0 0 0

Public Safety 30 208 238 7,473 200 7,678 0 0 0

Deference Force Headquarters Improveemnt 30 0 3o 0 0 0 0 0 0Firefighting Equipment 0 0 0 473 0 473 0 0 0New Station-Sandy Point 0 0 0 2,600 0 2,500 0 0 0Police Station Rehabilitation 0 0 0 1,000 0 1,000 0 0 0Ouilding for Gonrator 0 9 9 0 0 0 0 0 0Fire Brigode Equipmant 0 120 120 0 0 0 0 0 0Improve. to Police Stations & Training Schoo 0 85 a5 0 0 0 0 0 0Purchase of Alarm System-Prison 0 4 4 0 0 0 0 0 0Improvoemnt to Prison Farm-Nevis 0 40 40 0 0 0 0 0 0Improvemont to Male Prison-Bassoterre 0 0 0 0 1S 15 0 0 0Re-Location of 212 Radio Transmitter Mast 0 0 0 0 185 186 0 0 0Legal and Judicial Complex 0 0 0 8500 0 a800 0 0 0Purchase of Now Truck 0 0 0 0 0 0 0 0 0

Tourism 2,970 262 3,232 87 0 87 0 0 0

Tourism Centro-Basseterre 2,970 262 8,282 87 0 87 0 0 0Resteoration of Both Hotel 0 0 0 0 0 0 0 0 0 I'd

03

OQ

co

ST. KITTS AND NEVIS - PUBUC SECTOR INVESTMNT PROGRAMME, 1989-1991(Con't) (ECB 000)

1989 1990 1991

External Local Total Extornal Local Total External Local Total

Transportation 1,120 8,875 4,496 4,088 90 4,178 7,025 6s8 7,693

Navigational Aids-Golden Rock Airport 1,000 0 1,000 0 0 0 0 0 0Car Path Tow 120 0 120 0 0 0 0 0, 0Rawlin road 0 0 0 40 0 40 0 0 0Frigate Bay Roa/E. Basseterr By-pass Road 0 0 0 1,880 0 1,980 0 0 0Brown Hil Bridge-Nevis 0 0 0 12 0 12 0 0 0Feoer Road-Nevis 0 0 0 B00 0 800 240 0 240Beaumont koad-Nevis 0 0 0 sO 0 B0 0 0 0Molineux Village Road-Mvis 0 0 0 40 0 40 0 0 0Concrete Drains-Bird Rock Road 0 8s 8S 0 0 0 0 0 0Workshop & Abolution Fac-C'da Crusher Site 0 40 40 0 40 40 0 0 0Renovation of Garage Building, La Cuerite 0 8,800 s,8a0 0 0 0 C 0 0Church Ground Footpath 0 0 0 8 0 a 0 0 0Sea Defence-Morris 0 0 0 448 20 468 2094 880 2424Ferry Boat Pier 0 0 0 1385 8O 1865 4891 888 5029Asphalt Re-surfacing 0 0 0 0 0 0 0 0 0Warehouse Pier-Refurbishment 0 0 0 0 0 0 0 0 0Workshop 0 0 0 0 0 0 0 0 0Sea Port Charlestown-Nsvis 0 0 0 0 0 0 0 0 0Asphalt Plant and Lorry-Novis 0 0 0 0 0 0 0 0 0Treasury Pier-Refurbishment 0 0 0 0 0 0 0 0 0Eastern Bssetorro by-pass Road 0 0 0 0 0 0 0 0 0Spare pumps and Motors-Nvis 0 0 0 0 0 0 0 0 0S.E.P HOA Markings 0 0 0 0 0 0 0 0 0Ne Roads-Nevis 0 0 0 0 0 0 0 0 0Airport Expansion-Novis 0 0 0 0 0 0 0 0 0

Water and Sewerage 821 886 1,207 7,508 100 7,608 a0 S0 aso

Tabernacle 0 0 0 2,000 0 2,000 300 0 300Water Developent II - Novis 0 0 0 0 0 0 0 0 0South NOviS Water 0 0 0 2,288 0 2,286 0 0 0Construction of Reservoir-Frigate Bay 0 0 0 2,765 0 2,765 0 0 0Standby 'quipment for Pumps 0 55 66 0 100 100 0 50 s0Construction of Reservoir-Conaree 0 96 96 0 0 0 0 0 0North Novis Water Distribution 11 821 0 821 507 0 t07 0 0 0Extension of Water Distrib System-Old Road 0 0 S0 0 0 0 0 0 0Pipoline Roplacement-Gibbons Resevoir 0 185 185 0 0 0 0 0 0Water Dovelopont laster Plan C 0 0 0 0 0 0 0 0 I"Pipeline-Well Site te Reservoir-lonareo 0 0 0 0 0 0 0 0 0Construction of Reservoir-Sacdlers 0 0 0 0 0 0 0 0 0

0

O-

ST. KITTS AND NEVIS - PUBLIC SECTOR INVESTMENT PROGRAMME, 1989-1991(Con t) (EC$ 000)

1989 1990 1991


Development Bank of St. Kitts and MoveS 5,400 1,060 8,480 4,726 945 5,870 0 0 0

Consolidated Line of Credit 6,400 1,060 6,480 4,726 946 6,670 0 0 0

Administration 587 110 897 966 0 966 3,913 0 3,913

Manpower Survey and Planning 107 0 107 200 0 200 0 0 0Printing Press 0 90 90 0 0 0 0 0 0Vertical Plan Cabinoto-PlD Drawing Office 0 6 S 0 0 0 0 0 0Institutional and Operational Project 313 0 813 10 0 1SO 10 0 150Micro Computer 167 0 187 21 0 11 0 0 0Photocopying Machine 0 1S 1S 0 0 0 0 0 0St. Kitts Courthouse 0 0 0 805 0 605 3,763 0 3,783

Other 0 65 Q8 1,610 147 1,767 0 0 0

Sandy Point Coastal Protection 0 25 25 0 0 0 0 0 0Labour Force Survey 0 0 0 210 0 210 0 0 0Renovation of Garage Building, La Guerite 38 0 a3 0 0 0 0 0 0Day Care Centre-Poed Industrial Estate 0 0 0 700 100 800 0 0 0Gardon Playing Field Improvement 0 0 0 100 0 100 0 0 0Multi-purpose Athletic Stadium 0 0 0 600 0 600 0 0 0Construction of Bleacher, Warner Park 0 0 0 0 48 46 0 0 0Phillips Ghaut lmprovement 0 40 40 0 1 1 0 0 0

TOTAL - PSIP 48,747 16,862 83,642 45,971 7,751 53,722 16,203 11,431 27,684 1

I1~

0O

- 24 -

ANNEX IIPage 1 of 17

ST. KITTS AND NEVIS

STATISTICAL APPENDIX

Table of Contents

Table No. Page No.

1.1 GDP at Current Factor Cost, 1982-88 .......................... 25

1.2 GDP at Constant Factor Cost, 1982-88 ......................... 26

2.1 Balance of Payments, 1984-88 ................................. 27

2.2 Composition of Merchandise Exports, 1984-88 .................. 28

2.3 Composition of Merchandise Imports, 1984-88 .................. 29

3.1 Summary of External Public and PubliclyGuaranteed Debt Operations ................................ 30

4.1 Consolidated Public Sector Operations, 1984-88 ............... 31

4.2 Government Revenue, 1984-88 .................................. 33

4.3 Government Expenditure, 1984-88 .............................. 34

5.1 Eastern Caribbean Central Bank Operationsin St. Kitts and Nevis .................................... 35

5.2 Commercial Banks Operations, 1982-88 ......................... 36

5.3 Distribution of Commercial Bank Loansand Advances, 1982-88 .37

5.4 Financial Intermediaries InterestRate Structure, 1982-88 .............................. 38

6.1 Selected Tourism Data, 1981-88 .............................. 39

7.1 Consumer Price Index, 1981-88 .............................. 40

- 25 -ANNEX IIPage 2 of 17

Tabl- 1.1 ST. KMITS AND NEVISs GOP AT CURRENT FACTOR COST, 1982-88(EC million)

1982 1088 1984 1986 1986 1087 1988

GDP at Factor Coot 18.9 186.7 159.8 171.8 218.2 287.6 268.2

Agriculture 20.8 16.2 19.2 16.4 21.8 24.6 2C.9Crops 2.8 1.7 1.5 1.7 2.9 8.1 8.4Sugarcane 11.4 7.5 10.9 7.2 11.4 18.8 10.6Livestock 8.6 8.6 2.9 8.2 2.6 8.0 8.1Fishing 3.0 8.4 8.9 4.2 4.9 6.0 5.6Forestry 0.1 0.1 0.1 0.2 0.2 0.2 0.2

Mining 0.4 0.6 0.4 0.5 0.5 0.0 0.7

Manufacturing 18.7 17.6 22.6 21.9 82.8 85.4 88.9

Construction 18.6 16.0 12.8 16.1 16.7 21.8 28.9

Electricity and Water 1.4 1.4 1.6 1.8 4.4 8.6 4.0

Wholesale and Retall Trade 16.5 18.8 20.7 24.0 28.0 U8.0 86.8

Hotels and Restaurants 4.8 4.4 7.4 11.8 16.2 21.7 25.5

Transport and Communications 17.6 16.4 19.6 21.1 26.8 29.0 80.4

Banking and Insurance 8.6 8.2 11.1 11.9 19.8 17.2 18.0

Real Estat and Housing 7.8 8.1 8.5 9.0 9.5 1.0 10.6

Government Services 28.6 29.9 U8.1 87.8 41.2 44.6 58.2

Other Services 7.8 7.8 8.4 9.0 9.7 10.1 10.6

Les Imputed Service Charges -. 2 -7.1 -4.9 -0.0 -18.2 -12.9 -18.9

Source: Statistical Office, Planning Unit.


Table 1.2: ST. KITTS ND NEVIS: GDP AT CONSTANT FACTOR COST, 1M2-68(EC$ millon *t 1977 prl ce)

1982 1988 1984 2t8o 1986 1987 1988

GDP at Factor Cost 69.8 68.7 # .6 101.9 108.8 116.4 121.7

Agriculture 14.1 11.5 12.0 11.7 11.6 11.8 12.8Crops 1.7 1.8 1.2 1.8 1.5 1.6 1.7Sugareano 8.a 6.5 7.1 6.2 6.2 6.2 6.5Livestock 2.5 2.1 2.1 2.4 1.6 1.9 1.9Fishing 1.6 1.5 1.6 1.7 2.0 2.0 2.1Forestry 9.1 0.1 0.1 0.1 0.1 0.1 0.1

Mining 0.8 6.8 0.8 6.8 0.8 0.4 0.4

Manufacburing 18.2 11.7 18.2 12.4 18.6 18.2 18.8

Construction 9.5 10.4 8.7 9.6 10.8 12.5 14.8

Electricity and Water 1.9 1.0 1.1 1.2 1.8 1.4 1.4

Wholesale and Retail Trade 10.2 11.0 12.8 18.8 14.5 15.8 16.6

Hotels and Restaurants 2.6 2.5 8.7 4.6 6.2 7.8 8.0

Transport and Comunications 9.4 9.6 10.5 11.5 18.7 14.4 14.9

Banking and Insurance 5.0 6.0 6.0 5.8 6.4 6.7 6.9

Real Estate and Housing 5.6 5.? 5.6 6.8 6.4 6.7 6.9

Government Services 17.8 16.5 22.4 23.5 28.8 24.4 26.8

Other Services 4.5 4.7 6.0 5.2 6.5 5.7 6.5

Lose Imputed Service Charge -8.8 -8.8 -8.6 -8.8 -4.2 -4.4 -4.6


- 27 -ANEX IIPage 4 of i7

Table 2.1: ST. KrTTS AND NEVIS - BALANCE OF PAYMENTS, 1984-88(USS mlIIIone)

Prel.1984 1985 1088 1087 1088

Exports of Goods and NFS 80.9 44.6 68.2 66.8 78.8Merchandise Exports 21.1 21.7 27.3 28.6 830.Non-Factor Services 17.8 22.8 80.9 88.8 48.0

Imports of Coods and NFS 54.2 17.1 70.7 90.6 105.8Merchandise Imports 49.7 51.4 68.6 79.4 94.7Non-Factor Services 4.5 6.7 7.7 10.6 11.1

Reource Balance -16.8 -12.6 -12.5 -28.2 -32.5

Factor ServicTe A Transfers 11.6 8.5 9.6 12.8 14.9Net Factor Service Payments 1.2 0.2 6.7 1.4 2.4

Receipts 2.6 1.6 2.0 2.6 8.8Payments -0.8 -1.8 -1.8 -1.2 -1.4

o/w Interest -0.4 -0.9 -0.9 -0.8 -1.1Net Private Transfers 10.4 8.8 9.1 11.4 12.6

Current Account Balance -8.7 -4.1 -2.7 -10.4 -17.6

Official Transfer. 1.8 2.8 2.8 2.9 2.8Public Borrowing (Net) 5.4 1.P -1.a 8.8 4.8Orawings 6.6 2.4 2.6 4.6 6.7Amortization 0.6 0.6 8.6 0.8 6.9

Commercial Banks -4.0 -0.8 -8.1 -5.9 -0.7Private Direct Investment */ 2.2 1.9 7.5 8.9 11.8

Capital Account 5.4 5.7 5.7 9.7 17.7

Overall Balance 1.7 1.6 8.0 -0.7 6.1

Financing -1.7 -1.8 -8.6 0.7 -0.1

Changes In Imputed Reerves -1.5 -1.6 -2.8 -0.8 0.2Change In Foreign Asset -0.2 0.0 -0.2 1.6 -0.8

a/ Includes errors and oemissions.

Sources: Ministry of Finance and IMF estimates.

- 28 -ADNI;X IIPage 5 of 17

Table 2.2: ST. KIMTS AD NEVIS - COMPOSITION4 OF MERMt4NDISE EXPWRTS, 1984-88(US1 milliong)

Prol.1984 1985 1986 1987 1988

Total Merchandisw Exports 21.1 21.7 27.8 28.0 80.3

Re-export. 0.7 2.8 1.0 1.5 1.9

Domestic Export. 20.4 19.4 26.7 26.6 28.4

Sugar ./ 11.8 8.7 11.7 12.5 18.1Manufactures 8.9 2.0 4.4 6.1 2.9

Clothing 2.5 1.4 4.1 6.0 2.9Footwear 1.4 1.2 0.8 01. 0

Other Domestic Export. b/ 4.9 6.1 9.6 7.9 12.4

(In Percent of Tot l Export.)

Sugar */ 66.0 40.1 42.9 44.6 48.2Manufactures 18.5 12.0 10.1 21.8 9.6Other b/ 28.2 87.8 35.2 20.2 40.9

(Annual Percentago Change)

Doestic Export. .. -4.9 82.5 8.1 7.2Sugar */ .. -25.0 84.5 6.8 4.8Manufactures .. -88.8 69.2 88.6 -52.5Other. h/ .. 66.8 10.5 -17.7 57.0

*/ Includes molasses.b/ Includes electrical mchinery, philatelic stamp.

Sources: Statistical Office, Planning Unit and IMF estimatee.


Table 2.8: ST. KIMTS AND NEVIS - COMPOSmo0 OF MERCHANDISE IMPORTS, 1984-88- (USI lIllIone)

Pr l.1984 1066 1986 1987 1988

Total Merchandise Imports 49.7 51.4 68.a 79.4 94.7

By SITC

Food 10.2 11.0 11.8 12.8 18.6Beverages and tobacco 1.5 1.4 2.0 2.6 2.6Crude materiels 1.1 1.2 1.4 1.4 0.4Fuel 5.2 4.2 8.7 6.0 5.0Animal A vo. ollo A fate 0.8 0.9 1.1 0.7 1.1Chml ca ls 4.8 4.6 5.4 6.1 6.8Manufactured goods 16.6 17.8 22.9 27.6 84.6Machinery & transport eqpt. 9.7 lO.8 14.9 28.6 24.8Miscellaneous 0.4 0.0 6.8 0.2 1.6

By Broad Econoeic Classiflcatlon

Consumer goods 28.2 80.2 86.2 42.6 56.6Interedlate goods 11.8 10.9 11.9 18.4 14.4Capital goode 9.7 10.8 14.9 28.6 24.8

(In percent f total lmports)

Conoumer goode 56.7 58.8 67.5 68.6 59.1Intermediete goode 28.7 21.2 18.9 16.9 15.2Capital goodS 19.5 20.0 28.7 26.6 26.7

(annual percentage change)

Total Imports 8.4 22.6 26.0 19.8Conumer goods 7.1 19.9 17.4 81.8Intermediate goods -7.6 9.2 12.6 7.6Capital goods 6.2 44.7 57.7 8.4

Sources: Statistical Office, Planning Unit and IMF estimates.

- 30 -


Table 8.1: ST. KTS AND NEVIS - SUMMARY OF EXTERNAL PUBLIC------ AND PUBLICLY GUARANTEED DEBT OPERATIONS */

(USl Ml lIone)

1984 1985 le9s 1987 1988

Total oxtrnal debt outstanding 15.7 17.8 17.0 22.1 26.4

Net Disbursements 1.8 -1.0 3.8 4.8 0.0Disbursements 6.0 2.4 2.6 4.8 6.7Amortization 0. 8 .Oe a.. 0.8 0g9

Valuation adjustment -1.1 0.2 0.8 1.2 -0.4

Debt service payments 1.0 1.6 4.5 1.5 1.9

Amortization 0.6 0.8 8.6 0.8 0.9Interest 0.4 0.9 0.9 0.7 1.0

(in percent)

Total debt outetanding/ODP 22.6 23.8 18.4 20.8 22.2Debt Service/XQAS 2.4 3.8 7.6 2.2 2.6Amortization/XGAS 1.5 1.8 6.0 1.2 1.2Interset/XCAS 1.0 2.0 1.5 1.0 1.8Averago Interest Rate b/ 2.5 5.1 5.8 8.2 8.8

*/ Modium- and long-term debt. Excludes debt held by ECCD.b/ Ratio ot Interest paymnts to debt at bginning ot period.

Source: Ministry of Flnance and IMF ostimates.

- 31 -


Table 4.1: ST. KITTS AND NEVIS - CONSOLIDATID PIULC SECTOR OPERATIONS, 1904-0._,------- (Millons of Fastr Caribbean dollars)

Peel.1904 105 100 10987 1088

t. Consolidated Public Sector

Total Revenue 69.0 03.0 70.9 92.0 97.0

Current revenue 5.56 08.0 74.3 ".1 08.0Capital revenue A Not lending 8.5 2.1 8 3.9 3.3

Total Expenditure 04.6 07.1 34.2 108.0 121.5

Current expenditure 53.0 08.4 $4.? 048 78.0Capital expenditure 11.0 25.7 19.6 31.7 42.0

Current Account Balance 2.6 -2.6 10.1 19.3 14.9

Overall Balance -. 0 -24.1 -7.3 .4.0 -28.9

Financing 6.0 24.1 7.8 0.0 23.9

Grants 4.9 0.9 6.1 7.9 0.3External 9.4 -0.1 -4.6 11.6 11.6Domestic -8.7 17.3 6.7 -11.4 0.1

ECCS 7.6 2.0 0.0 0.0 -1.1Cmecial Banks -16.4 16.6 0.0 -14.6 6.7Other 4.9 -0.9 -2.0 3.2 6.5

IL Govornment

Total Revenue 46.3 49.3 oo.9 72.7 79.1

Current revonue 43.9 48.8 00.2 70.? 77.2Capital revenue 1.4 1.0 0.7 2.0 1.9


Current expenditure 51.4 56.4 GO.0 We.0 78.6Capital oxpenditure 10.4 2a.0 16.5 70.0 88.2

Current Account Blance -7.5 4.1 0.2 2.7 -1.3

Overall Balance -16.5 -27.1 -15.6 -73.9 -82.6

Financing 16.6 27.1 15.6 73.9 32.6

Grants 4.7 6.6 6.4 7.9 6.3External 0.7 0.0 -4.1 3.1 12.7Doovttc 2.1 21.6 14.3 57.9 18.6

ECC3 7.0 2.0 0.0 0.0 -1.1Comercial Banks -8.7 16.4 12.1 -2.3 15.8Social Security scheme 4-.2 3.0 1.9 53.0 -e.eOther 3.4 0.2 0.8 6.3 -0.3

~ 32 - AANNEX IIPage 9 of 17

Table 4.1: ST. KITS AD NEVIS - CONSOLIDATED PUBlXC SECTOR OERATIONS, 198448- (Million. of Eastrn Caribbean dollars)

(con t)

Prel.

1984 1986 1086 1987 1086

Its. St. Kitts Administration

Total Revenue 40.7 44.0 68.6 64.6 69.6

Current revenue 89.8 48.0 68.1 62.8 67.7Capital revenue 1.4 1.0 0.7 2.0 1.9

Total Expenditure S1.9 70.2 67.4 186.7 99.1

Current expenditure 48.1 52.8 51.8 69.7 68.0Capital expenditure 0.6 17.9 16.1 ".9 81.1

Current Account Balance -8.0 -9.8 1.8 8.1 -0.8

Overall Balance -11.2 -26.2 -18.6 -71.9 -29.5

Financing 11.2 28.2 18.6 71.9 29.5

Grants 8.8 4.7 5.1 7.6 0.1External 9.7 0.0 -4.1 8.1 12.7DoetIlc -2.1 21.5 12.6 56.2 10.7ECC3 7.6 2.0 0.0 9.0 -1.1Comercial Banks -12.9 16.4 12.1 -2.8 14.6Social Security scheme -0.2 8.0 1.9 68.9 -0.8Other 8.4 9.1 -1.4 4.6 -2.0

:Ib. Nevie Adminlstration

Totel Revenue 4.8 19.8 6.0 1J.0 11.7

Current rvenue 4.6 19.8 6.0 19.0 11.7Capital revenue 0.9 9.0 0.0 0.0 0.0


Current expendlture 6.4 9.1 9.6 11.1 12.7Capital expenditure 1.1 0.7 0.8 0.9 1.0

Current Account Balance -8.0 1.2 -1.6 -0.8 -1.0

Overall Balance -4.9 0.5 -1.0 -1.2 -2.0

Financing 4.9 -0.6 1.8 1.2 2.0

Grants 1.1 9.6 e.8 0.8 9.1Domestic 8.6 -1.8 1.5 0.9 1.0

Comercial Banks 4.2 0.0 0.0 0.0 1.2othr -0.4 -1.8 1.5 0.9 0.7

- 33 -ANNEX I IPage 10 of 17

Table 4.2: ST. KITS AND NEVIS - GOVERNMENT REVENUE, 1984-8---------- (tMiIlo@na of Eastern Caribbean dol lie)

Prol.1984 1985 1986 1987 1988

I. Government

Total Revenue 45.2 49.8 68.8 72.6 79.1

Current Revenue 48.8 48.8 82.6 70.6 77.2of which:Tax Revenue 85.8 8t7. 47.1 59.5 66.8Income 5.6 6.2 7.9 10.9 l..5Property 0.7 0.8 1.0 1.2 1.4Domestic production 16.1 15.7 20.6 25.8 27.7Internatl Transactions 14.1 14.7 17.8 22.2 26.8minus: tax refunds 0.1 0.1 0.1 0.1 6.1

Non-Tax Revenue 8.1 7.7 12.8 9.6 10.9Surplus of trust funds 0.4 8.8 2.7 1.0 0.0

Capital Revenue 1.4 1.0 0.7 2.0 1.9

11. St. Kitto Administration

Total Revenue 40.6 44.2 56.5 64.9 89.6

Current Revenue 89.4 48.2 56.8 62.9 67.9of which:Tax Revenue 81.9 88.8 41.7 58.4 58.8Income 5.4 6.1 7.9 10.8 11.4Property 6.6 O.7 0.8 0.9 1.0Domestic production 18.1 18.4 17.1 22.0 2B.1Internntl Transactions 12.7 18.0 15.8 19.6 22.7minus: tax refunds -0.1 -O.1 -OL1 -0.1 -0.1

Non-Tax Revenue 7.1 6.6 11.4 7.9 9.8Surplus of trust fund 0.4 8.8 2.7 1.6 0.0

Capital Revenue 1.4 1.0 0.7 2.0 1.9

II. Nevis Administration

Total Revenue 4.6 10.8 8.0 10.8 11.7

Current Revenue 4.6 10.8 8.0 10.8 11.7of which:Tax Revenue 8.6 4.2 5.7 6.8 8.2

Income 0.1 0.1 0.1 0.1 0.1Property 0.1 0.1 0.2 0.8 0.4Domestic production 2.0 2.8 8.4 8.8 4.6Internatl Transactions 1.4 1.7 2.0 2.6 8.1

Non-Tax Revenue 1.0 6.1 2.8 4.5 8.5Capital Revenue 0.0 0.0 0.0 0.6 0.0

Sources: Ministry of Finsnce and IMF.


Table 4.8: ST. KITTS AND NEVIS - GOVE1NMENT EXPENDITURE, 1984-98(Millions of Emetarn Caribbean dollars)

Prol.1084 10s 1986 1987 1998

t. dovernment


Current Expenditure 51.5 68.4 60.1 68.0 78.4Personal emolu mate 26.0 29.7 88.o 86.1 88.4Goods and Service 12.7 12.7 18.7 18.5 18.1Intereat Payment8 8.9 6.5 8.8 8.6 9.1Transfers 9.0 7.6 7.2 10.0 18.8

Capital Expenditure A Net Lending O.8 16.8 18.5 76.8 88.2Prel.

tX. St. Kitts Administration


Current Expenditure 48.1 62.8 51.4 69.8 88.0Personal emoluments 21.8 24.0 286. 29.6 81.2Goods and Services 9.7 10.0 10.6 9.7 18.6interest Payment. 8.8 0.5 8.8 8.5 9.2Transfers 7.8 11.9 7.9 12.1 15.0

Capital Expenditure A Net Lnding 8.9 16.2 16.2 77.0 81.0

tII. Nevis Administration

Total Expenditures 1.4 11.2 10.0 12.7 14.8

Current Expenditures 0.0 9.1 9.6 11.2 12.7Capital Expenditure 1.4 2.1 0.4 1.6 2.1

Source.: Minietry of Finance and IMF.


Table 5.1s ST KMT AD NEVIS - EAsTN CARISEN CENTRAL M OPERATIONS IN ST. KITTS AND NEVIS(Ml illIon, of Eastern Caribbean dollars)

December 81

1081 1982 10m 1084 1985 1988 1987

Net (imputed) International reserves */ 17.6 8.6 11.6 15.7 20.0 27.6 28.4

Net claims on ..-cwercial banks -9.8 -8.2 -6.. -10.8 -26.4 -81.1 41.6

Claims 8.2 2.4 2.7 0.2 0.2 0.1 1.7Liabi litles -18.0 -5.6 -9.0 -17.0 -26.6 -31.2 -a8.2

Currency -8.6 -8.6 -8.1 -8.6 -5.5 -4.8 -7.0Statutory resrve requirement b/ 0.a 0.0 0.0 -7.7 -8.8 -12.1 -18.2StatutGory deposits c/ 0.0 0.6 .0 0.0 0.0 0.0 0.0Current deposits -4.2 0.0 -4.1 -8.5 -8.6 -2.5 -9.1Fixed deposits -9.2 -2.0 -1.8 -2.0 -8.6 -12.8 -8.9

Net domestic asset 8.4 6.0 6.6 14.1 16.1 16.1 16.1

Not credit to Central Government 8.4 6.0 6.5 14.1 18.1 16.1 18.1Treasury bills 0.9 8.7 8.7 8.7 6.7 6.7 S.7Debentures 2.5 2.8 2.8 2.7 2.7 2.7 2.7Temporary advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0Other claims / 0.0 0.0 0.0 7.7 7.7 7.7 7.7

Liabilities to the private sector 10.6 11.8 11.8 18.0 9.7 12.6 18.0

Total currency Issued 14.2 14.9 14.9 16.8 16.2 16.8 20.0Currency held by banks -8.6 -8.6 -8.1 -8.8 -5.6 -4.8 -7.0

----- -- - - -- ___ - _- _ _- --

a/ From March 15, 1984, required resrves have bean held with the ECCO.

Source: Eastern Caribbean Central Bank.


Table 6.2: ST. KITS AND NEVIS - CONlERCIAL BANKS OPERATIONS, 1982-88(Millions of Eastern Caribbean dollars)

Dcember 81

1082 1988 1984 106S 196N 1987 1988n- q~~~~~~~~~~~~~~ ---------- -

Net forelgn assets 8.1 -0.2 10.6 11.4 19.7 85.8 87.6

Assts 80.0 64.6 56.4 72.5 72.2 127.2 116.8Foreign currenc, holding. 1.8 1.6 1.6 1.8 1.8 2.2 2.8Claims on ECCO area banks 6.6 4.7 1.2 5."6 6.0 19.4 4.1Claim on banks abroad 21.0 65.1 49.9 02.1 61.4 111.6 166.6Other 2.9 3.2 8.7 8.6 8.0 8.8 0.4

Liabilities 211.7 64.7 46.8 61.1 52.5 91.6 70.8Balance due to ECCB area banks 7.1 22.6 10.6 11.2 11.2 87.? 86.9Balance due to banka abroad 4.8 24.1 18.8 27.8 17.6 28.6 18.0Nonresident depots i1.8 18.1 16.2 22.1 28.7 29.6 29.5Other 6.0 0.0 0.0 0.0 0.0 6.7 6.4

Net position with ECCO 8.2 6.8 16.8 25.8 26.0 82.7 86.1

Claims on ECC8 6.6 9.0 17.6 25.9 29.7 88.8 86.1Currency holding. 8.6 8.1 8.8 5.6 4.8 7.0 7.9Statutory reserves / .-. 6 6.6 7.7 8.1 11.8 18.9 13.4Statutory deposits */ 6.0 0.0 0.0 0.0 6.0 6.0 °.0Current deposits 6.6 4.1 8.5 4.2 168 8.8 4.8Fixed deposits 2.0 1.8 2.6 8.0 11.8 8.6 1.0Liabilities to ECC8 (-) 2.4 2.7 0.2 0.6 2.9 0.6 0.0

Net domestic ass*e 54.09 6.e 8.7 7.0 6 7.1 89.8 128.5

Net credit to Central Goverment 0.0 16.1 7.6 28.7 86.0 88.7 49.4Securities 5.0 6.8 6.8 6.8 6.8 6.4 8.9Special reserve deposits a/ 6.6 7.9 e.0 6.4- 6.0 0.0 0.0Loans & advances 8.6 17.0 21.7 86.4 84.8 88.0 46.1Proce d from foreTgn borrowing 0.8 0.0 4.8 6.7 6.S 6.4 6.7Deposits (-) -18.4 -15.1 -24.7 -19.7 -11.9 -12.1 -106.Hot credit to Social Securlty Scheme -88.9 -42.8 -52.8 -58.2 -71.1 -86.6 -85.9Net credit to statutory bodies 88.? 87.4 41.8 47.9 54.8 1.8 -2.8Loans and advances 85.6 41.6 48.6 64.5 68.1 2.8 8.5Deposits (-) -2.1 -4.2 -2.8 -6.6 -4.1 -1.0 -11.8Net credit to other financialinstitutions -5.1 -4.8 -6.1 -5.4 -9.4 -9.2 -12.2Loans, advances and Investments 0.8 0.8 0.8 0.8 6.0 0.8 0.8Deposits (-) -5.4 -4.9 -6.4 -6.7 -10.2 -9.6 -12.5Credit to private sector 66.2 69.8 81.2 69.2 96.6 122.4 170.1Intorbank float 8.9 9.1 9.6 7.7 11.4 12.8 2.4Net unclassiflod asset -16.9 -26.9 -24.6 -27.9 -29.8 -85.2 -42.5

Med. A Long foreign liabilities 0.0 6.0 4.1 6.0 6.6 e.4 5.?

Liabilities to private sector 81.1 69.7 79.8 107.0 126.8 187.2 169.6

Demand deposit. 10.2 11.9 12.1 16.8 20.9 20.7 27.2Time deposit. 14.8 17.9 23.9 42.1 49.8 89.9 47.6Savings deposit. 86.1 89.9 48.8 48.1 68.0 76.6 06.0

*/ From March 16, 1084 requiprd reserves have ben held with the ECCB.


- 37 -


Table 5.8: ST. KITTS AND NEVIS - DISIRIBTION OF COMMERCIAL AN LOA AND ADVANCES, lm-88(Ml I I tons of Eastern Caribbean dol lap)

Deemewr 81

1982 1983 1984 1985 1916 1987 1989

Totel 1a9.7 181.0 166.1 183.4 198.6 160.8 226.4

Agriculture 0.8 0.6 0.7 1.8 1.6 2.8 9.7Manutfcturing 5.8 4.4 4.5 6.6 4.9 6.2 12.0Distributivo trad" 12.2 18.6 14.6 12.8 17.0 21.8 27.5Tourism 9.2 11.0 11.3 11.2 11.7 18.9 19.6Transport 5.6 5.2 5.7 5.5 0.4 8.4 7.68overnmwrt and stat. bodies 41.7 68.8 68.2 86.9 90.7 8s.5 45.8Personal 20.8 24.9 84.5 40.6 48.7 65.6 78.9fther 18.1 14.5 28.0 19.1 17.7 19.4 26.6

(As Percent of Total)

Tote I 196.0 166.0 109.0 160.0 160.0 6O6.6 166.0

Agriculture 0.7 O.5 0.4 0.7 6.8 1.4 4.8Manufacturing 4.9 8.4 2.7 8.8 2.6 8.9 6.8Distributive trades 11.2 10.4 8.8 7.0 8.6 18.8 12.1Tourism 8.6 8.0 6.9 6.1 5.9 8.7 8.6Transport 6.2 4.0 8.4 8.6 8.2 5.2 8.3Government and st. bodies 88.4 48.0 89.9 47.4 45.7 20.9 20.6Personal 19.1 18.0 20.8 22.1 24.5 84.6 84.8Other 12.1 11.1 17.2 10.4 8.9 12.1 11.5

Source: East Caribbean Central Sank.

- 38 - A II

Page 15 of 17

Table 6.4: ST. KIlTS AND NEVIS - FINANCIAL INTlERIEDIARIES INTEREST RATE STRUCTURE, 1982-88

(Annual Percntage Rate)

DecObenr 81

1982 188e 1984 1965 1988 1987 1988

Interest rates paid

Eastern Caribbean Central BankPaid to commorclan banks on:

Money at call 7.00 7.00 6.75 6.66 4.00 4.76 65.0I-month deposits a/ 8.00 8.00 7.26 6.60 4.75 5.26 6.508-month deposits b/ 0.50 8.80 7.25 7.00 0.00 5.60 7.006-month deposits c/ 8.76 0.75 7.25 7.00

Commercial BanksSavings deposits 2.5-5 2.5-5 2.5-6 4.0-5.0 4.0-5. 4.0-5. 4.0-68-month deposits 4.54. 4.S-6. 4.54. 4.5-5.0 4.04. 4.0-6. 4.0-7.6-month deposits 5.0-6. 5. .0- 0. 4.6-4. 4.0. 4.0-5. 4.0-7.

12-month deposits 5.6-7. 6.5-7. S6-7. 5.04.0 4.0-7. 4.0-. 4.08.

Interest rates charged

Eastern Caribbean Central BankCharged to commercial banks on:

overdrafts 9.75 0.76 11.06 11.00 9.00 9.00 10.60

Commercial BanksPrime lending rate 8.0-9.0 0.0-9.0 8.0-10.0 6.0-12.0 0.0-12.0 9.6-12.6 9.0-12.0

Mortgage lending rate 11.0 11.0 11.0 11.0 11.0-13. ll.0-13. 11.0-13.Consumer credit rate 14.0-17 14.0-17 14.0-17 14.0-17. 14.0-18 14.0-18 14.0-23

St. Kitts-Nevis Development Bank 11.0 11.O 11.0 11.0 11.0 11.0 11.00

…----------------------------- ------- …-

a/ Rate paid on minimum monthly balance.b/ Rats pid on minimum quarterly balance.c/ Effective April 14, 1980, this term was no longer offered by the Estern Caribbean Central Bank.



Table 6.1: ST. KIMS AND NEVIS - SELECTED TOURISM DATA, 1981-88

- - - - ------------ -- -- -_ _ --_ ------_

* ~~~~~~~~~~~~~~~~~~~~~~~~~~~~Prol.1981 1882 1088 1984 1986 1986 1987 198

Total Number of Visitore 48,828 46,721 67,1609 78,928 79,089 88.768 98,689 126,076

Cruise-ship 10,860 11,14B 22,886 84,062 81,522 26,938 81,488 658,45

Excursionist l,684 891 960 1,190 1,08 1,074 1,822 1,822

Stopover 84,442 88,684 8,95 88,676 46,149 65,181 65,829 69,608

Hotel 14,199 12,685 9,817 16,445 24,277 52,429 88,854 89,021

Private homes and other. 16,669 18,115 19,882 19,215 20,819 21,696 24,491 27,599

Business 8,588 2,884 8,666 8,616 1,658 1,007 2,484 2,988

Average period of stay (days)

Hotel 5.4 6.6 6.o 6.5 7.0 7.0 7.0 7.0

Private homes and others 12.2 12.4 12.5 12.5 12.5 12.5 12.6 12.6

Business 4.8 4.9 5.0 5.0 5.0 6.0 6.0 5.0

Average expenditure/day (US1)

Cruise-.hlp 14.8 16.0 16.0 17.5 26.6 21.2 22.6 28.8

Excursionist 28.6 86.6 81.0 88.6 83.6 85.0 87.1 89.8

Hotel 71.4 72.0 76.6 84.5 84.5 89.6 94.9 100.6

Private homes 14.8 15.6 16.6 17.5 17.5 18.6 19.7 20.8

Business 76.2 86.0 84.0 88.2 9060 95.4 161.1 107.2

(Mililene US1)

Total expenditure 9.88 9.81 10.40 15.20 20.06 26.47 88.64 87.63

Stayover Visitors by____________________

Country of Residence (S) 106.0 100.0 100.6 166.0 1060. 1060. 10090 100.0

United States 84.8 81.4 28.6 87.7 84.2 86.6 42.5 42.3

Canada 5.8 7.1 6.0 6.4 16.7 19.6 18.2 12.3

United Kingdom 7.2 7.8 8.8 8.0 7.4 6.4 6.4 6.9

CARICOM Countries 15.8 16.6 16.9 16.6 14.1 12.1 11.5 10.6

Other 86.0 87.1 40.6 81.0 27.6 26.6 28.4 28.0___________________________ ------- - _ _ _ _ _ _ _



Table 7.1: ST. KITTS AND NEVS - CONSUMER PRICE INDEX, 1981-88- - (January 1978.199)

1981 1982 198 1984 1985 1986 1987 1988

X. Period Avorage

All Items 152.8 161.4 165.0 160.5 178.8 174.0 175.8 176.0

Food 147.9 158.7 166.8 161.8 161.6 161.0 162.0 162.0Tobacco and alcohol 158.0 169.2 178.0 175.9 188.4 185.6 186.7 189.7Housing 124.7 128.6 128.7 142.4 180.4 180.8 181.0 181.7Fuel and light 162.0 168.5 174.9 180.1 182.2 179.6 174.0 174.7Clothing and Footwear 148.6 119.0 9 16.9 186.9 1557 179.9 164.1 162.5Furniture A appliances 174.2 178.7 177.7 191.4 201.7 201.8 222.2 217.0Household suppliee 169.4 192.8 197.9 197.8 196.9 191.0 180.2 176.9Transportation 189.1 198.7 295.0 209.6 208.4 286.5 238.4 238.4Other services 157.8 181.9 184.9 188.9 190.9 188.8 299.8 208.1

(percent change)All items 10.5 6.0 2.2 2.7 2.2 0.4 0.9 0.2-- - -- - - -- - - - - - - - - - - - _____

Food 11.0 8.9 2.0 2.9 9.8 -0.5 0.6 0.0Tobacco and alcohol 11.4 10.6 2.2 1.7 4.8 1.2 0.6 1.6Housing 2.7 8.0 0.2 19.6 26.7 -6.1 0.4 0.4Fuel and light 6.9 4.9 8.8 8.0 1.2 -1.4 -8.1 0.4Clothing and Footwear 18.5 7.0 8.1 -1.8 -8.2 2.7 2.6 -1.0Furniture & appliances 19.7 -4.8 2.8 7.7 5.4 0.9 19.1 -2.8Household supplies 14.8 18.5 2.9 -4.1 -1.9 -2.t -5.7 -2.8Transportation 10.1 5.1 8.2 0.8 1.4 18.6 -1.8 0.9Other services 7.8 14.7 2.2 2.2 0.8 -0.6 6.4 8.8

:1. End of Period

All item. 167.2 162.5 166.7 171.2 174.2 172.8 178.7 176.9

Food 152.4 158.6 168.1 161.0 100.4 181.6 162.1 163.1Tobacco and alcohol 158.5 172.1 178.1 181.2 186.9 185.8 187.8 187.4Housing 126.2 128.9 128.6 176.0 186.6 179.6 181.5 182.1Fuel and light 168.4 177.0 176.8 188.2 188.1 172.7 174.1 174.6Clothing and Footwear 161.1 157.7 17090 146.9 160.2 151.9 177.1 162.6Furniture A appliances 181.8 171.8 1868.6 190.7 208.2 205.2 262.2 212.0Household suppliles 181.9 196.7 194.8 199.6 198.6 184.2 180.4 180.7Transportation 199.6 205.0 205.6 206.6 288.0 288.4 288.4 283.4Other services 159.7 181.6 188.4 188.6 189.0 189.4 206.5 212.8

(percent change)All Items 8.6 8.4 2.6 2.7 1.8 -4.8 8.4 -1.9

…------------------------ - ----- ----- ----- …---- -…-- ------ ------

Food 8.1 0.8 2.9 1.8 -0.4 0.7 0.8 o.6Tobacco and alcohol 12.9 8.0 0.6 4.7 2.1 0.4 0.8 0.1Housing 8.8 2.1 -0.2 86.9 2.6 -04. 1.1 O.8Fuel and light 8.2 8.8 -0.4 8.9 -0.1 -6.7 0.8- 0.3Clothing and Footwear 21.8 -2.1 7.8 -1 8. 9.1 -5.7 17.8 -8.2Furniture A appliances 18.4 -5.6 8.7 2.2 6.6 1.0 27.8 -19.1Household supplies 18.6 8.1 -1.2 1.2 -1.5 -4.9 -2.1 0.2Transportation 0.7 8.2 0.8 0.0 15.8 -1.9 0.9 0.9Other services 8.5 18.7 8.7 0.1 0.2 8.2 9.0 3.1

…___ …___________ _ ____ _ __-_ _ ____ _ _-__ _____ _ ____________ _ ________________ _ … _ _ …___ …___…


IBRD 19241R

ST. KITTS

S T A T.l N E2O \ 8 s / ~~~~~~~Moly" ,

\.ndy _~~ xyw CHRIST /-; i,' 1V

/ %w S T ~~~~~~~'C HU R CH lI S T t.f----Main Road

-17e20 %<THOM A S ~ t &pfS1n

- Pwish Boundories

hlond oOld Read 1t_ \ ',, :, ys z \ stS T PTRp I

ETERRE-~~~~~~ (0 3S *

0 2 4 6 6

,9 I 2 3 4 :kauftd

ft,'a.i S hoa~S

n ~ -- mw,,~W- >3RE Pug RTO PicowGN 4; ' ! e N l N E V I S s T \ @ Svibss C

\> ~~; ~~) st ~S.KI'TTS AND . }}T OMAS? y So JAMACA l CARIEOWN2(S ITX-I

- o. X~~~ SE LUC h7 th=|IA GEORGE

CS. 2 ,Bj OA

,IONA T A>A T HOMAGO S S T. J HN

i 50UTH AMERICA R

CI4AflLEST ; s. .M ' 6 0m o987

-~~~~~~~~~~~~~~~~~~~~MYtS

Kitts and Nevis Updating Economic Note - World Bank · FOR OFFIICAL USE ONLY ST. KITTS AND NEVIS A...

Documents

Transcript of Kitts and Nevis Updating Economic Note - World Bank · FOR OFFIICAL USE ONLY ST. KITTS AND NEVIS A...