IMF team visits Nevis to assess NIA fiscal performance

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Photo caption: Premier of Nevis and Minister of Finance Hon. Vance Amory (extreme right), Permanent Secretary in the Ministry of Finance Colin Dore (second from right) and his staff at a meeting with a visiting team from the International Monetary Fund on April 25, 2016, at the Ministry of Finance conference room

NIA CHARLESTOWN NEVIS (April 26, 2016) — A team from the International Monetary Fund (IMF) met with Premier of Nevis and Minister of Finance Hon. Vance Amory to assess the fiscal performance of the Nevis Island Administration (NIA). The meeting was held at the Ministry of Finance Conference room on April 25, 2016.

 

According to Permanent Secretary in the Ministry of Finance Colin Dore, who was present at the meeting, it forms part of the IMF’s annual visit to St. Kitts and Nevis as part of the Article 4 consultation.

 

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Photo caption: The visiting International Monetary Fund team to St. Kitts and Nevis, headed by Mission Chief Ms. Inci Otker Robe,at a meeting with Premier of Nevis and Minister of Finance Hon. Vance Amory on April 25, 2016, at the Ministry’s conference room. Also present is Economist Mr. Ahmed El Ashram (second from right, partly hidden) who has been visiting the Federation for the past 2 to 3 years as part of the team

He noted that the IMF team headed by Mission Chief Ms. Inci Otker Robe who took over from Ms. Judith Gold former mission Chief, sought to determine how the Administration is coping after completion of a three-year Structural Adjustment programme by the IMF and Mr. Amory outlined the proposals as stated in the 2016 Budget Address.

 

According to Dore, during the team’s one-day visit to Nevis, they also met with Heidi Sutton Regulator of the Nevis Financial (Regulation and Supervision) Services to assess the legislation governing the financial services. They also met with the Bank of Nevis Ltd. to assess the island’s banking sector.

 

Dore said the team will be carrying out similar exercises in St. Kitts and is scheduled to present its findings at a joint cabinet meeting of the Federal government and the NIA on May 04, 2016.

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