Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Top Stories > Statement by an IMF Mission to Antigua and Barbuda

Statement by an IMF Mission to Antigua and Barbuda

Published by Gbaf News

Posted on April 10, 2012

4 min read

Last updated: January 22, 2026

Belgium's new PM Bart De Wever addressing EU regulatory policies - Global Banking & Finance Review — Belgium's Prime Minister Bart De Wever speaks on reducing EU regulatory fervor and strengthening NATO ties. His leadership marks a shift in Belgium's political landscape, focusing on corporate competitiveness.

An International Monetary Fund (IMF) mission led by Geoffrey Bannister visited Antigua and Barbuda during March 27–April 5, to undertake the fourth, fifth, and sixth reviews of the program under the Stand-By Arrangement (SBA) approved by the Fund’s Executive Board on June 7, 2010 (see Press Release No. 10/232). The mission held meetings with Minister of Finance Hon. Harold Lovell, Minister of Tourism Hon. John Maginley, Governor of the Eastern Caribbean Central Bank (ECCB) Sir Dwight Venner, senior officials of the Ministry of Finance and the ECCB, and representatives of the local business community. At the conclusion of the mission, Mr. Bannister issued the following statement today in St. Johns:

“The mission reviewed performance and policy implementation under the program and found notable progress in many areas. Fiscal performance in 2011 has been broadly as envisaged under the program despite global economic headwinds continuing to hamper economic activity. As a consequence, revenue collection has continued to be lower than program projections. The authorities have successfully restrained primary expenditure in order to meet the program targets and manage contingencies in the financial sector. At the same time, a successful restructuring of debts to both domestic and external creditors has managed to reduce interest payments. The country has continued to advance with structural reforms that aim at strengthening public administration to improve budget performance.

“The mission had useful discussions with the authorities on macroeconomic, structural and financial sector policies under the program going forward. The authorities remain firmly committed to the policies and objectives of their Fiscal Consolidation Program, and recognize the importance of strong macroeconomic, financial and structural policies in achieving the goals of their National Economic and Social Transformation plan.

“Discussions will continue when the authorities visit Washington, DC for the IMF and World Bank Group Spring Meetings during April 16–21. The mission would like to thank the authorities and technical staff for their excellent cooperation.”

Source: www.imf.org

An International Monetary Fund (IMF) mission led by Geoffrey Bannister visited Antigua and Barbuda during March 27–April 5, to undertake the fourth, fifth, and sixth reviews of the program under the Stand-By Arrangement (SBA) approved by the Fund’s Executive Board on June 7, 2010 (see Press Release No. 10/232). The mission held meetings with Minister of Finance Hon. Harold Lovell, Minister of Tourism Hon. John Maginley, Governor of the Eastern Caribbean Central Bank (ECCB) Sir Dwight Venner, senior officials of the Ministry of Finance and the ECCB, and representatives of the local business community. At the conclusion of the mission, Mr. Bannister issued the following statement today in St. Johns:

“The mission reviewed performance and policy implementation under the program and found notable progress in many areas. Fiscal performance in 2011 has been broadly as envisaged under the program despite global economic headwinds continuing to hamper economic activity. As a consequence, revenue collection has continued to be lower than program projections. The authorities have successfully restrained primary expenditure in order to meet the program targets and manage contingencies in the financial sector. At the same time, a successful restructuring of debts to both domestic and external creditors has managed to reduce interest payments. The country has continued to advance with structural reforms that aim at strengthening public administration to improve budget performance.

“The mission had useful discussions with the authorities on macroeconomic, structural and financial sector policies under the program going forward. The authorities remain firmly committed to the policies and objectives of their Fiscal Consolidation Program, and recognize the importance of strong macroeconomic, financial and structural policies in achieving the goals of their National Economic and Social Transformation plan.

“Discussions will continue when the authorities visit Washington, DC for the IMF and World Bank Group Spring Meetings during April 16–21. The mission would like to thank the authorities and technical staff for their excellent cooperation.”

Source: www.imf.org