Report No. 7075-STV

St. Vincent and The GrenadinesEconomic Memorandum

March 25,1988

Latin America and the Caribbean Region

FOR OFFICIAL USE ONLY

Document 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.

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CURRENCY EQUIVALENTS

Currency Ur.lit: East Caribbean Dollar

Since its creation in 1965, the East Caribbean dollar was tied to sterlingat the rate £ 1.00 = EC$4.8. In July 1976 the link with sterling wasbroken and the East Caribbean dollar was aligned with the US dollar at therate US$1.00 = EC$ 2.70.

Since July 1976:

EC$ 1.00 US$ 0.370 orUS$ 1.00 EC$ 2.700

ABBREVIATIONS

ACP African, Caribbean & PacificAIA Arrowroot Industry AssociationBOP Balance of PaymentsCARICOM Caribbean CommunityCDC Commonwealth Development CorporationCDB Caribbean Development BankCIDA Canadian International Development AgencyCWSA Central Water and Sewerage AuthorityDEVCO Development CorperationEC European CommunitiesEIB European Investment BankGDP Gross Domestic ProductHLDC Housing and Land Development CorporationIDA International Development AssociationNCB National Commercial BankNFS Non-Factor ServicesPSIP Public Sector Investment ProgramUK United KingdomUSA United States of AmericaVINLEC St. Vincent Electricity Services Limited

Fiscal Year

July 1 to June 30

FOR OMCIAL USE ONLY

TITLE * St. Vincent and the Grenadines - Economic MemorandumCOUNTRY i St. Vincent and the GrenadinesREGION : Latin America and the CaribbeanSECTOR : Country EconomicREPORT s TYPE CLASSIF NUMBER LANGUAGES

CE4 Restricted 7075-STV EnglishPUBDATE X March 25, 1988ABSTRACT X Real GDP in St. Vincent and the Grenadines grew at an average

rate of 52 a year during 1980-85, mainly because of strongrecovery of agriculture, following two major natural disasters,and the expansion of transport and communications as well aswholesale and retail trade sectors. In 1986, the rate ofgrowth of GDP moderated to 32 as a result of the adverse effectof a tropical storm on agricultural production and a decline inexport manufacturing following weak external demand. GDPgrowth is projected to have slowed down to 1.32 in 1987 as aresult of the effects of unfavorable weather on agriculture andthe continuing weak external demand for export manufacturing.Because of the weakening of the external market for thecountry's exports, it will be necessary for the Government tomonitor real exchange rate developments, along with othermembers of the regional currency union, in order to maintainexport competitiveness. Restraint on public sectorexpenditures, particularly wages, is an important component inany strategy aimed at preserving the country's competitiveposition. Due to good economic management, the public sectorsavings have improved substantially in recent years and stoodat 8.1Z of GDP in 1986 and are projected to further improve by1990. Similarly, the current account of the balance ofpayments has improved, shifting from a deficit of 23Z of GDP in1980 (following the hurricane disaster) to a surplus of 3? in1985 as exports doubled. However, this is projected todeteriorate during 1987-90 as imports of capital goods arelikely to increase substarntially because of the proposed PublicSector Investment Program (PSIP). The Government envisages atotal expenditure of EC$ 180.6 million (US$66.9 million) for1987-89, about 602 of which would be devoted to investments inenergy, agriculture and transportation; 1OZ for industry and10 for education. The remaining 20? goes for health, housingand social infrastructure. The medium-term prospects arefavorable provided project-related external resources continueto flow in on a timely basis and on concessional terms, and theGovernment implements policies that improve the country'scompetitiveness, speed-up the diversification of exportagriculture, establish factory shells to expand manufacturedexports and improve the management and facilities for tourism.St. Vincent and the Grenadines is creditworthy for limited non-concessional resources.

NOTE X This report is based on the work of an IBRD economic mission toSt. Vincent and the Grenadines in August 1987. The missionconsisted of Messrs. James Sackey (Mission Leader), TrevorHamilton (Consultant), Ms. Dolores Velasco (IBRD) and AudreyHinchcfille (Consultant). Mr. Roy Rodriguez (UNDP) alsoassisted the mission in compiling and reviewing the technicalassistance needs of the country.

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

ST. VICWET AID TME GCENADINES

icouic 1mmAmm

TAILE OF CONTEPTS

Page No.

COUNTRY DATA

SUMARY ANDCONCLUSIONS ................. . . [-iv

I. RECENT ECONOMIC PERFORMANCE . . . . . . . . . . . . 1Overview of the Economy . . . . . . . . . . . . . . 1Public Sector Finances . . . . . . . . . . . . . . 2External Sector . . . . . . . . . . . . . . . . . . 3

II. SELECTED POLICY ISSUES IN THE KEY PRODUCTIVE SECTORS 4Government's Development Strategy . . . . . . . . . 4Agriculture and Fishing . . . . . . . . . . . . . 4Manufacturing ........ ... , 5Tourism. . . . . . . . . . . . . . . . . . . . . . 6

III. DEVELOPMENT ISSUES ON SUPPORTING INFRASTUCTURE. . . 6Physical Infrastructure . . . . . . . . . . . . . . 6Social Infrastructure . . . . . . . . . . . . . . 8

IV. PUBLIC SECTOR INVESTMENT PROGRUM . .. . . . . . 12Composition of the Program. . . . . . . . . . . . . 12Selected Implementation Issues . . . . . . . . . . 12

V. MEDIUM-TERM GROWTH PROSPECTS. . . . . . . . . . . . 13

ANNEX I s PUBLIC SECTOR INVESTMENT PROGRAM . . . . . 15ANNEX II s TECHNICAL COOPERATION PROGRAMS . . . . . . 23ANNEX III X ECONOMIC PROJECTIONS . . . . . . . . . . . 35

STATISTICAL APPENDIX ............................... 44

MAP (IBRD 13500R)

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Page 1 of 2COUNTRY DATA - ST. VINCENT AND tWH *s4SI1NES

AREA PPULATION DENSITY

386 sq. ke 110,200 (sid-1986) 282 per sq. keRate of growth: 1.22 (1976-66) 535 per sq. ke of arable land

POPULATION CHARACTERISTICS (1985) HEALTH (1981)

Crude Birth Rate (per 1,000) 31.3 Population per Physician 4,791Crude Death Rate (per 1,000) 7.5 Population per Hospital Bed 1,695Infant Nortality (per 1,000 live births) 46.8INCONE DISTRIBUTION DISTRIBUTI'l OF LAND OWNERSHIP

X of Nationas Incoee: Highest Quintile .. 2 Owned by Top 102 of OwnersLoweit Quintile .. 2 Ouned by Smallest 102 of Owners

ACCESS TO PIPED WATER ACCESS TO ELECTRICITY_- - - - - - - - - - --- -- --- -- --- --

Z of Population - Urban .. I of Population - Urban- Rural .. - Rural

NUTRITION EDUCATION (1983)

Calorie Intake as X of Requirements .. Adult Liter&cy Rate (2)Per Capita Protein Intake .. Primary School Enrollment (2) 90

Secondary School Enrollment (2)

GNP PER CAPITA, 1986: USS910 a/

GROSS NATIONAL PRODUCT, 1986 ANNUAL RATE OF GROWTH OUTPUT, 1986_ -------- --------------------------------- ------------ Value Added

US$ mln. 2 1977-80 1980-85 1986 ------------------- ------ ------- ------- ----- US$ eln. X

6NP at Narket Prices 113.9 100.0 3.8 5.2 4.1 -------- ------Gross Domestic Investment 39.7 34.9 11.2 2.1 46.5 Agriculture 18.2 19.1Gross National Savings 36.7 32.2 23.0 6.3 -0.7 Industry 20.9 22.0Current Account Balance -3.0 -2.6 . . . Services 56.0 59.9Exports of Goods, NFS 83.4 73.2 11.3 10.0 -6.2 -----lports of Goads, NFS 97.4 85.5 6.4 6.2 7.2 Total 95.1 100.0

PUBLIC SECTOR FINANCESConsolidated Public Sector Central Governeent

(ECS million) 2 of GOP (EC$ million) X of 6DP

1985/86 1986(87 1986 1985/86 1986/87 1986

Current Receipts 106.5 115.4 43.2 94.0 103.8 38.5Current Expenditures 78.9 89.7 32.8 T7.1 87.7 32.1Current Sirplus/Deficit 27.6 25.7 10.4 16.9 16.1 6.4Capital Expenditures 21.3 58.8 16.0 12.8 26.4 7.6External Assistance (tiet) 1.0 13.2 2.8 -4.4 3.7 -0.1

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

a/ The per capita GNP estimate is at 1986 market prices, calculated by the same conversion technique as used in th;z1986 WORLD BANK ATLAS. All other convertions to US dollars in this table are at the average exchange rateprevailing during the period covered.

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Page 2 of 2COUNRY DATA - ST. VINCENT AND THE SREMADINES.... ..... . .... __w................

KIEY, CREDIT MND PRICES 1911 12 1913 1984 1915 19U6

(Nillion ECO Outstanding at End of Period)Honey nd Quasi hney 91.0 97.8 111 125.2 144.9 173.1Dank Credit to Public Sector 3.4 14.5 14.4 10.4 5.1 -5.1Dank Credit to Private Sector 73.3 84.0 97.5 104.6 107.4 101.2

(Percentage or Index Numbers)Honey and Quasi Noney as Z of GDP 55.3 52.0 54.3 56.7 40.6 47.4Consumer Price Index (Jan.1981s00) 106.4 114.4 120.6 123.9 126.4 127.9

Annual 2 Change In:Consumer Price Index 0.0 7.3 5.4 2.7 2.0 1.2Dank Credit to Public Sector 571.4 324.5 -0.7 -24.4 -51.9 -200.0Dank Credit to Private Sector 8.4 14.4 16.1 7.3 2.7 Q.7

BALANCE OF PAYIENTS (US$ million) NERCIANDSE EPORTi (AVERAGE 1984-89)

1984 1985 1996 US moin.

Exports of 6ods, NFS 72.7 92.4 93.4 Bananas 16.1 24.8Ioports of Goods, NFS 06.2 89.2 97.4 Eddoes and Dasheen 11.1 19.5

Flour 6.4 10.6Aesource Gap (deficit - -) -13.5 -6.9 -14.0 Sweet Potato2s 3.4 6.0Other Factor Payients (net) -3.0 -2.9 -3.5 All Other Commodities 22.9 39.1Net Transfers 12.0 13.0 14.5

TOTAL 60.2 100.0Dalance on Current Account -4.5 3.3 -3.0HILT Capital Influm 4.6 8.1 17.3 EXTERNAL DEBT, DECEKBER 31, 1986Direct Investeent 1.4 1.8 3.0 --------------------------------Official Grant Aid 3.5 4.1 8.6 US Mln.Foreign Borrowing (net) 1.7 2.2 5.7 --------Net Credit from IIF -0.5 -0.7 -0.4 Public Debt, Incl. uranteed 29.9Net Short-term Capital 2.4 -5.3 -5.8 Non-guaranteed Private DebtErrors and Doissions 0.0 0.3 3.4 ----Increase in Reserves H-1 -4.0 -5.1 -11.5 Total Outstanding & Disbursed

RATE OF EICHANGE (Since July 1976) DEBT SERVICE, DECENUER 31, 1996 bl

USI.00 s ECS2.70ECSI.00 US$0.37 Public Debt, Inl. 6uranteed 3.7

Non-guaranteed Private Debt

Total Outstanding A Disbursed

!BRDiZOA LENDING, DECENDER 1986

US) mIn.

Outstanding I Disbursed 2.1Undisbursed 3.6Outstanding Incl. Undisbursed 5.7

_ _ . _-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --

b/ Ratio of debt service to exports of goods and non-factor services.

not availablenot applicable

SUMMARY AND CONCLUSIONS

Recent Economic Performance

(i) The economy of St. Vincent and the Grenadines has exhibitedsharply fluctuating economic growth in the past. Like other small islandcountries in the Caribbean, it found its economy buoyed along by favorableexternal conditions during the 1960s. A combination of events during the19709 which included falling world prices for its main agriculturalpcoducte, adverse weather conditions and the effects of internationalinflation led to prolonged economic stagnation. The economy has recoveredsteadily since 1981 and real GDP grew at an average rate of 5Z p.a. during1980-85, mainly because of improved world demand and prices for its mainexport crop, banana, and diversification of agriculture. On the otherhand, the economy has experienced a slowdown in economic activities in1986-87 as a result of adverse effect of a tropical storm on agriculturalproduction and a decline in export manufacturing owing to weak externaldemand, especially in the Trinidad and Tobago sarket.

(ii) The public sector savings have improved substantiallv in recentyears and stood at 8.12 of GDP in 1986. The improvements have essentiallyresulted from actions related to expenditure controls (current expendituresdeclined from 302 of GDP in 1980 to 282 in 1986), and improved revenuecollection (current revenues increased from 26Z of GDP in 1980 to 362 in1986). Despite these improvements, the institutional framework for theCustoms Department is weak and the Department could benefit from increasedstaff and training. Nevertheless, while the current account balance of theconsolidated public enterprises has improved from negative 2.52 of GDP in1980 to a surplus of 1.82 in 1986, the weak financial status of theArrowroot Industries Association (AIA), the Development Corporation (DEVCO)and the Housing and Land Development Corporation (HLDC) remains a drain onthe public sector. Besides implement'ng policies to improve the financesof these enterprises, such as the appropriate disposal of the large stockof arrowroot and the collection of loan arrears due to DEVCO and HLDC bythe private sector, the Government should also explore means to eitherimprove their management, divest or close some of them. In particular, itought to consider abolishing the HLDC. Given Government action on theabove, public sector savings are projected to improve to 8.22 of GDP by1990.

(iii) As a result of improved policy environment and the Governmentrenewed policy of export promotion in non-traditional agriculture, thebalance of payments has strengthened considerably since 1980. The currentaccount shifted from a deficit of about 232 of GDP in 1980 (following thehurricane disaster) to a surplus of 32 in 1985 as exports nearly doubled.A deficit of 2.52 of GDP was recorded in 1986 as exports declined resultingfrom adverse weather on agriculture and reduced demand for manufactures inthe rest of the Caribbean, especially Trinidad and Tobago. Despite theimproved balance of payments position, future export growth prospects areweak unless the country diversifies away from bananas and also improves itscompetitiveness by containing cost increases. The country will need tomonitor real exchange rate developments, along with other members of theregional curzency union, in order to maintain export competitiveness.Restraint on public sector expenditures, particularly wages, is animportant component in any strategy aimed at preserving the country'scompetitive position.

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Selected Policy Issues in the Key Productive Sectors

(iv) The economy of St. Vincent and the Grenadines has exhibited itscapacity to recover from successive years of natural disasters. This wasthe result of prudent economic policies, good investment climate and thetimely availability of external assistance. However, future growthprospects appear unfavorable as the market for arrowroot as an industrialstarch (i.e., as carbonizing agent) which for ms the bulk of exports is weakand the prospects for banana exports are limited. Bananas are exported to apreferential market, but there is no guarantee the preference wouldcontinue to be granted in i..s present form after the current agreementexpires in 1992. The lack of adequate airport facilities limits theexpansion of tourism while manufacturing for exports is constrained by theexisting infrastructure. In the context of the above, the Governmentundertook a review of the economy with the view to identifying its growthpotential and constraints. As part of this effort, it has recentlypv 'shed a Development Plan (1986-88), which reaffirms the Government'sobj. Ave to increase exports and employment on the basis of growth anddiv r ification in agriculture, manufacturing and tourism. Despitecour^. dable efforts in promoting agriculture/fishery diversification, theexistence of price controls on beef and fishery products and of exporttaxes on some agricultural commodities are distorting. It is recommendedthat the Government review its policies with respect to price controls andexport taxation of agricultural/fishery products with a view to eliminatingthem. Marketing remains a constraint to agricultural diversification asthe country's key markets in the Caribbean are not likely to absorb most ofits exports of non-traditional agriculture in the future. In view of theabove, there should be a vigorous effort by both the Government and theprivate sector to improve the organization of marketing and to find newmarkets outside the Caribbean region.

(v) The country's potential in manufacturing and tourism remainsuntapped as a result of, in the case of manufacturing, the shortage offactory shells in recent years and, in the cas of tourism, the problem ofaccessibility given the existing airport runway, inadequate accommodationand high hotel rates. The resolution of the issues affecting the expansionof factory ehells should be the Government's priority. In the tourismsector, there is the need to upgrade existing facilities and to introduceprice competition into the sector by attra-ting investment into new hotelfacilities.

Development Issues on Supporting Infrastructure

(vi) The main issues regarding physical infrastructure(transportation, road network, energy and water and sewerage) are theadequacy of services and facilities, organizational arrangements and theunsystematic approach to the selection of projects. With respect to airtransport, the Government should continue its efforts to improve transitarrangements in neighboring islands. Improvements in the warehousefacility at the airport would also limit congestion on the tarmac whileloading, off-loading or awaiting the arrival of planes. The use of largercontainers (especially 40 ft) at the harbor could facilitate the turnaroundtime of ships and thereby reduce cost. The financial position of the Port

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Authcrity is also weak ane the Government should establish a rationalpolic;-' of tariff adjustments for port services. The road network isinadequate especially for the large and growing export-orientedagricultural sector; expansion and an improved road maintenance programwould be desirable. The shortage cf technical/managerial personnel facingSt. Vincent and the Grenadines is likely to affect performance at theprovision of electricity, water and sewerage services and early resolutionof the manpower issue is important. Furthermore, early resolution of theproblem of water leakage and regular review of water tariffs will helpimprove the finances of the Central Water and Sewerage Authority.

(vii) The social infrastructural network (education, health andhousing) in St. Vincent is also deficient in terms of technical andmanagerial manpower. The school dropouts and the non-enrolled form thecore of the unemployable. The shortage of qualified teachers, adequateschool space and appropriate curriculum play a part in the high schooldropout rate (25% for the 10-13 years old) and hence unemployment(estimated at 25-352 of the labor force). The Government should thus: (i)continue to pursue measures to ease the shortage of school space until theproposed expansion program is completed, and (ii) expand and improve itsteacher education program in an effort to improve the teacher/etudentratios. Similarly, while the physical facilities and institutionalstructure at the ministerial level for health are relatively adequate, thequality of health care delivery is constrained by weak organization andmanagement, exacerbated by personnel shortage. There is the need toreorganize the institutional structure for health care delivery and toimprove its management. The low cost housing shortage in the countryrequires policies to improve the institutional structure of the sector andto explore approaches to reduce building costs.

(viii) The Government is concerned about the country's populationcharacteristics (high dependency ratio of 60-652 of the total population,unemployment of 25-:5Z of the labor force, and high fertility rate amongthe 15-24 years age group which accounts for over 60? of the unemployed).It has initiated a number of programs to address the issue, including theimplementation of training programs, the launching of programs ofinformation and education to heighten awareness of responsible parenthoodand strengthened the Women's Affairs Unit to effectively address employmentissues of women. To supplement the above initiatives, the Governmentshould: (i) develop a self-employment scheme, (ii) revise the fiscalincentive scheme to support its employment creation objective, and (iii)intensify the awareness of responsible parenthood at the elementary schoollevel.

Public Investment and Economic Prospects

(ix) To support the Government's development programs, the Governmentput together a medium-term public sector investment program (PSIP), therevised expenditures amounting to EC$ 180.6 million (US$66.9 million) for1987-89, for which EC$ 132.0 million (US$48.9 million) would be mobilizedfrom external sources. About 65? of the external resources (US$31.0million) are already available through approved loans and grants. Theremaining (US$17.9 million) has to be formalized with the identified

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agencies who have already expressed interest. The composition of the PSIPis consistent with the Government's development objectives; it places heavyemphasis on the expanslon of energy, agriculture and transportation whichtogether constitute about 602 of total proposed expenditures. The mainconstraint to the implementation of the program is the shortage oftechnical and managerial staff at the execvting agencies, which could beameliorated in the medium-term by the use ot external technical assistancepersonnel.

(x) The country's growth prospects will be influenced by thetimeliness of the PSIP and the projected high inflow of external resourcesas they provide the basis for the anticipated private sector response topublic policy. The implementation of policies that maintain the country'scompetitiveness, speed-up the diversification of agriculture, establishfactory shells and improve the management and facilities for the tourismsector will also influence the growth prospects of the country. On thebasis of assumptions relating to the timely execution of the investmentprogram and implementation of policies outlined in the report, real GDP isprojected to grow by about 3% per year, on average, during 1987-90. Thepublic sector finances are projected to improve over the medium-term if theGovernment undertakes the addiEional measures to strengthen the finances ofthe public enterprises, notably those of the AIA, DEVCO and HLDC. Becauseof the projected expansion in project-related activities, real imports ofcapital goods are projected to increase by SZ per year during 1987-90. Asa result of weak external demand for the country's export commodities, a 4Zper year real growth is projected for export revenues during 1987-90. Thedeficit on the current account of the balance of payments is thereforeprojected to increase to 7Z per year on average during 1987-90, to befinanced by external flows on concessionary terms. Thus, the debt serviceratio is projected not to increase significantly over the medium-term(averaging under 5Z of exports of goods and non-factor services during1987-90). On the basis of the above, St. Vincent and the Grenadines couldbe considered creditworthy for limited non-concessional resources.

ST. VINCENT AND THE GRENADINESs ECONOMIC MDMORANDUM

I. RECENT ECONOMIC PERWORMANCE

Overview of the Economy

1. Recent economic developments of St. Vincent and the Grenadines(land area of only 386 sq km and population of 110,000) have beendetermined largely by the vagaries of the weather and regional demandfactors. The economy is highly open and is based primarily on agriculture,manufacturing and tourism. Agriculture accounts for close to 20? of GDPbut its recent performance has exhibited sharp fluctuations. Manufacturingactivities, which account for about 10? of GDP, are carried out mainly byexport-oriented enclave industries. Manufacturing developed satisfactorilyin the early eighties, but performance has been affected adversely since1985 by infrastructural and weak regional and international demand.Tourism, although it accounts for under 3? of GDP and is confined to theGrenadines, is an important earner of foreign exchange.

2. Following two major natural disasters - a volcanic eruption in1979 and a hurricane in 1980 - economic activity rebounded and real GDPgrew at an average rate of 5.42 a year during 1980-85, mainly because ofthe strong recovery of agriculture and expansion of transport andcommunications as well as wholesale and retail trade sectors. In 1986, therate of growth of GDP moderated to 32 as a result of the adverse effect ofa tropical storm on agricultural production and a decline in exportmanufacturing following a weak external demand, especially in the Trinidadand Tobago market. This situation persisted in 1987. The performance ofdomestic savings and investment since 1980 has been dominated by improvedpublic sector savings (para. 4) and by the contraction of public sectorinvestment. Domestic savings rose substantially from a negative 2.3? ofGDP in 1980 (i.e., following the hurrica;'? disaster) to 21.9? of GDP in1986 as a result of moderation in the country's rate of growth ofconsumption (both public and private) and imports. Nevertheless, grossdomestic investment as a percentage of GDP declined from the high 40t in1980 to 33.8? in 1986 as public sector investments contracted during theperiod resulting from difficulties in project implementation. Domesticinvestment is projected to increase in 1987.

3. Unemployment is high and, although a precise estimate is notavailable, it may affect about 25-35Z of the labor force (para. 23). TheGovernmient is concerned about the high level of unemployment, which isessentially of the youth, women, and unskilled. Its short-to-medium termapproaches to address this issue include the establishment of skillstraining program to support its promotion of enclave-type labor-intensiveindustries as well as the pursuit of a program of small holder landsettlement. For its strategy to be successful, the Government is cognizantthat wage increases should be restrained in order not to erode thecountry's export competitiveness (St. Vincent and the Grenadines is amember of the Easterr. Caribbean currency union and exchange rateadjustments require unanimous agreement). Information on selected wagesettlements in the public and private sectors indicate that while there isa marked moderation in the rate of nominal wage increases in recent years

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(72 in 1986), the increases continue to exceed the inflation rate (1.2Z in

1986). It is the Government's view that, given the country's present

relatively low wage levels, it is necessary to provide some wage increases

to selected middle and management personnel in order to attract and retain

such personnel in the public sector. Nevertheless, since substantial

productivity increases are not likely in the medium-term, overall average

wage increases should be restrained in order to avoid eroding the country's

competitiveness.

Public Sector Finances

4. Public sector savings have improved substantially in recent years and

stood at 8.12 of GDP in 1986. They are projected to stay at the same level in

1987. The improvements have resulted essentially from actions related to

Central Government expenditure controls (current expenditures declined from 30Z

of GDP in 1980 to 28Z in 1986), and improved revenue collection (current

revenues increased from 26Z of GDP in 1980 to 362 in 1986). While the

Government's efforts at expenditure controls are commendable, its revenue

enhancement policies require further review. Revenue increases of the Central

Government in the recent past resulted from the collection of tax arrears and a

shift towards indirect taxes. Although greater reliance is being placed on

indirect taxes, the institutional framework of the Customs Department - the

agency responsible for the assessment and collection of indirect taxes - remains

weak. The Department could benefit from increased staff and training. The

shortage of skilled personnel is also an impediment to proper assessment and

collection of consumption taxes. Similarly, collection of direct taxes (notably

income and property taxes) is affected by personnel problems as well as

weaknesses in the legal framework. Efforts are underway to enhance training

programs, but the need to improve the salary and incentive structure to attract

technical personnel is also critical. Furthermore, a thorough review of the

overall tax structure, with the objective of removing inherent distortions and

disincentives to production, should be undertaken.

5. While the current account balance of the consolidated public

enterprises has improved from negative 2.5Z of GDP in 1980 to a surplus of 1.8Z

of GDP in 1986, the Arrowroot Industries Association (AIA), the Development

Corporation (DEVCO) and the Housing and Land Development Corporation (HLDC)

remain in a weak financial status. The financial problem of AIA (with a current

account deficit of 0.22 of GDP in 1986) results from the fall in the world price

of arrowroot starch and the failure of AIA to dispose of its stock at existing

prices and avoid storage cost and bank overdraft charges. It is recommended

that early action be taken to: (a) rapidly dispose of the existing stock, and

(b) transfer AIA's assets and operations to the private sector members of the

association while negotiating with the National Commercial Bank for the

rescheduling of AIA's liabilities which could be converted into a public debt.

With respect to DEVCO (whose current account deficit stood at O.1Z of GDP), the

poor financial position results from weak organizational structure and the

detetiorating performance of its banking activities, both resulting from

substantial shortage of managerial and technical personnel. The Government is

actively seeking technical assistance to resolve this problem in the short-to-

medium term. It may also need to put in place an appropriate training program

to upgrade the staff of DEVCO. The problem of the HLDC (with a current account

deficit of 0.1% of 'ZDP) also results from poor management and weak monitoring of

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its activities. In view of the extreme shortage of technical and managerialpersonnel facing St. Vincent and the Grenadines as well as Government policyintention to promote private sector involvement in the housing sector (includingthe Government's recent policy efforts to promote commercial bank mortgagefinancing), it is recommended that HLDC be abolished.

External Sector

6. As a result of the renewed government policy of export promotion innon-traditional agricultural commodities and economic diversification, thebalance of payments has strengthened considerably since 1980. The currentaccount shifted from a deficit of about 23? of GDP in 1980 to a surplus of 3X in1985 as exports nearly doubled. The overall balance also shifted from a deficitof 1 of GDP to a surplus of 6Z, which reflected a sizeable increase of thecountry's imputed foreign exchange reserves. In 1986, exports declined slightlyas a result of adverse weather effects on agriculture and reduced demand formanufactures in the rest of the Caribbean, especially Trinidad and Tobago.Coupled with import expansion assoc'ated with the ongoing public sectorinvestment program, the current account of the balance of payments deterioratedto negative 2.6? of GDP in 1986, although the overall balance improved to 1OZ ofGDP as a result of the inflow of external resources on concessional terms.Official borrowings remained virtually constant in 1981-84, but registered asubstantial increase in 1985-86 because of the disbursements on loans related tothe construction of the Cumberland Hydroelectric Project. The medium and long-term debt (M&LT) has remained at about 25Z of GDP since 1980. It carries anaverage interest rate of 3.92 with average maturity of 25 years. As a result ofthose terms, the debt service was 3.52 of exports of GNFS and 7Z of publicsector revenues in 1986.

7. Despite the improved balance of payments position of recent years,St. Vincent and the Grenadines has to continue with its prudent externalpolicies. The growth of exports of traditional agricultural products(notably bananas) could be expected to slow down in the future as thepreferential UK market is not likely to absorb significantly larger volumesof bananas from the country, unless there is an increase in damand in theUK. In this context, alternative European markets, such as Italy, shouldbe explored following some improvements in the cost of production. Thecountry's exports of non-traditional agriculture (mainly staple vegetables)have also been directed at the regional markets (notably Trinidad andTobago) where demand is weakening. Furthermore, the country'scompetitiveness in the regional market for manufactured goods is weakening(partly as a result of the devaluation of the Trinidad and Tobago dollar),although the Government is optimistic about the prospects for such exportsoutside the region, to the UK and the US. For this to be possible, itwould be necessary for the country to maintain cost competitiveness throughan appropriate exchange rate policy, along with other members of theregional currency union, continuation of tight domestic demand policies,including cautious public sector wage policies. Under presentcircumstances, St. Vincent's exchange rate (the weighted index of the realeffective exchange rate appreciated from its 1980 base to a peak of 121 inFebruary 1985 but subsequently depreciated to an average of 112 in 1986),would need continued monitoring in order to maintain competitiveness.Restraint on public sector current expenditures, particularly wages, is animportant component in any strategy aimed at preserving the country'scompetitive position.

II. SELECTED POLICY ISSUES IN THE KEY PRODUCTIVE SECTORS

Government's Development Strategy

8. The Government of St. Vincent and the Grenadines has published athree-year Development Plan (1986-88) which outlines its developmentstrategy for the period. The policies outlined in the Plan reaffirm theGovernment's objective of providing basic infrastructure to support privatesector activities to increase exports and employment on the basis of growthin agriculture, manufacturing and tourism, while taking advantage ofopportunities for import substitution when a clear comparative advantageexists. The Government plans to provide the necessary incentives in aneffort to broaden the productive base of the economy through cropdiversification in the agriculture sector, continued emphasis on industrialestate development and the promotion of specialized tourism.Nevertheless, the first year review of the Development Plan has indicatedthat the shortage of technical and managerial personnel in the publicsector is one of the most important factors constraining the attainment ofthe plan's objectives. The unavailability of relevant personnel hasdelayed essential organizational reforms and has prevented theimplementation of development programs, especially in the project executingministries. The Government should continue to expand and strengthen itsrecent policy with respect to selective wage increase and improvedincentives for selected technical and managerial positions in the publicsector.

9. The private sector supply response to Government incentives andthe improved policy environment has been weak. The weak private sectorresponse in directly productive investment could, however, be partlyattributed to the credit environment. Despite liberal tax concessions andthe increased liquidity in the commercial banking system, the real lendingrate is high (the prime lending rate has remained around 12Z since 1985while that of other regional economies with similar rates of inflation hasfallen below iOX). Furthermore, the expansion of bank credit to thedomestic private sector, particularly for productive purposes, has beensmall. The latter is partly attributed to the private sector's lack ofthe necessary expertise to prepare bankable projects, especially newentrants into the sector. In this connection, the Government should boost-up its efforts to establish the institutional arrangements for providingtechnical assistance, investment counselling and extension services tolocal investors. It should also continue to vigorously promote externalinvestment into the country.

Agriculture and Fishing

10. The agricultural activities of the country have been developedunder a colonial estate system of production of sugar, arrowroot and bananafor export. Of these, only banana still maintains a role as a major exportcrop, mainly because of the existence of a guaranteed market in the UKunder the EC/ACP Lome Agreement. Following the high sugar prices in themid-1970s, the Government tried to revive the sugar industry mainly forimport substitution. The attempt failed as a result of high financiallosses of the Sugar Industry Limited because of unusually high starting-up

- 5 -

costs and cost overruns, and the factory was closed in 1985. Once a majorcrop, output of arrowroot has declined steadily since 1983 because of thesector's inability to compete against Brazilian arrowroot and other starchsubstitutes. Production costs have increased while yields have declined asa result of lower grinding capacity and inefficiency of the factories(through obsolescence of machinery); also, international prices havedeclined. The Government:'s objective for the agricultural sector istherefore to promote crop diversification.

11. In its efforts to promote agricultural crop diversification andoutput, the Government ist undertaking a comprehensive land reform programaimed at transferring approximately 7,000 acres of cultivable land,currently owned cr under the control of Government, to small farmers andproviding the basis for increased credit resources to the sector.Similarly, with respect to the fisheries sub-sector, the Government, withfinancial and technical assistance from the Government of Japan, isconstructing fish markets with adequate storage facilities. However,Government efforts in the agriculture/fisheries sector are likely to bedistorted by the existence o:- domestic price controls on some agriculturalcommodities and fishery products and export taxes on some agriculturalcommodities (which are insignificant as revenue sources since the intakefor 1985-86 amounted to less than 21 of total tax revenues). The pricecontrols on fish have already resulted in some fish catch being illegallydiverted to other markets in the region. The export taxes on agriculturalcommodities have no external price effect but they are likely to reduce theprofit levels of farmers and thereby serve as a disincentive to production,especially of non-traditional crops. It is recommended that the Governmentreview its policies with respect to the price controls and export taxationof agricultural/fishery products with a view to eliminating them. TheGovernment has already taken a decision to remove export taxes on arrowrootand ginger. The only remaining export tax is on bananas which is inreality an administration tax on the Banana Growers Association.

12. Increased production from the Government's land settlement andagricultural diversification program could only be sustained by improvedmarketing. Bananas are exported to a preferential market, but there is noguarantee the preference would continue to be granted in its present formafter the current agreement expires in 1992. Similarly, the Trinidad andTobago market currently absorbs most of the exports of non-traditionalagriculture from .3t. Vincent and the Grenadines. The demand in this marketis likely to be substantially reduced because of increased production forthe same commodities in that country. In view of the above, there shouldbe vigorous efforts by both the Government and the private sector toimprove the organization of marketing and to find new markets outside theCaribbean region. Furthermn-e, joint efforts with other countries of theCaribbean in marketing cou.d be explored to take advantage of economies ofscale in marketing facilities (both organizational and financial).Finally, the declaration by the USDA that St. Vincent is fruitfly free willenhance marketing possibilities for fruits to the US.

Hanufacturing

13. Although a very small sector, contributing about 10? of GDP,

manufacturing has a tremendous potential for increasing employment andforeign exchange earnings. The Government's medium-term objectives for thesector are focused on agro-processing, garments, sporting goods, electronicassembly and toys. These subsectors have been targeted because of theiremployment-generating capability. However, to further its program in themanufacturing sector, the resolution of the issue relating to the shortageof factory shells (factory space) is critical. During the early 1980s, thedevelopment of manufacturing was stimulated by the availability of factoryshells and other infrastructural facilities in addition to generous fiscalincentives. Since 1985, the construction of new factory shells has beendelayed by a dispute on land ownership rights for the site of a proposednew industrial estate. Meanwhile, space on the existing industrial estatehas been virtually exhausted. Early resolution of the issue is needed.

Tourism

14. Much of the tourism potential of St. Vincent and the Grenadineslies in the Grenadines, an archipelago of white sand beaches which is alsoideal for yachting. Yachting and inter-island cruiseship visitorstherefore form the bulk of the country's specialty and the Government'sobjective is to further develop this potential. Three main factorscontinue to inhibit the expansion of the sector: accessibility,accommodations and competitive pricing. The Government is tackling theproblem of accessibility by undertaking infrastructure developments inairport construction (para. 15) and jetty improvements as well as exploringthe possibilities of improving transit arrangements in neighboring islands.The issues of tourist accommodation and pricing are interrelated. Smallhotels form the basis of tourism in the country. Except for the hotels inthe Grenadines that cater exclusively to the international visitor whichare of high standard, most of the hotels on the mainland are relativelyinadequate in services. At the same time, hotel accommodation rates areprohibitively high for all market segments. There is the need to upgradeexisting facilities and to introduce price competition into the sector byattracting investment into new hotel facilities. Training for hoteliersand staff should also be considered. The Government is currently activelypursuing some of the above approaches. These measures will help reduce thecost of hotel services thereby improving the sector's competitiveness.

III. DEVELOPMENT ISSUES ON SUPPORTING INFERASTRUCTURE

Physical Infrastructure

15. Transportation. The principal issues of the sector pertain toairports, harbors and the road network. Previous economic reports havehighlighted the constraints posed to the development of tourism,manufacturing and non-traditional agriculture by the inadequacy of theairport facility in the mainland St. Vincent. The national airport is onlycapable of accommodating small aircrafts, which implies that tourists musttransfer to St. Vincent from either Barbados, St. Lucia or Martinique.This complicates booking arrangements and the Government believes that thelimitations of the system act as a disincentive for tourists to the island.Similarly, the absence of warehouse facility at the airport leads to heavymovements of trucks and traffic congestion on the tarmac while loading,

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off-loading or awaiting arrival of planes. The Government is cognizant ofthe need for improvement of airport facilities in the country and is in theprocess of mobilizing financial resources for a compr?hensive study on thedevelopment of airports both in the mainland St. Vincent and in theGrenadines in the medium to long-term. It is currently undertakingimprovements to the Canouan airstrip, planning improvements to the UnionIsland airstrips and seeking to build an airstrip in Bequia with resourcesfrom the EC/ACP Lome III Regional Program. In cooperation with bothBarbados and St. Lucia, the Government is facilitating transit tourist toSt. Vincent. These efforts are in the right direction and should bevigorously pursued.

16. With a CDB loan and a CIDA grant, the Government has recentlycompleted an expansion of the Kingstown harbor which included:improvements to schooner berthing facilities, construction of a pedestrianbridge for cruiseship passengers, a car park and a container park. At themoment, the main shortfall in facilities is storage for 40 ft containerswhich are more cost effective than the 20 ft containers which St. Vincentis capable of handling. The use of the larger containers could alsofacilitate the turnaround time of ships and thereby reduce cost. The PortAuthority should therefore assess the feasibility of establishingfacilities for 40 ft containers. The financial position of the PortAuthority is also weak, as it has been in deficit over the past 5 years,except 1986, because of substantial tariff adjustments following almost 10years without tariff changes. The Government should establish a rationalpolicy of tariff adjustments for port services. Finally, under a CDBfinanced multi-project program in the Grenadines, the Government isupgrading jetties, roads and potable water supply systems.

17. The country's road network of 744 miles of roads comprises pavedroads along the coastal belts to provide gateways to residentialcommunities and large farms (364 miles); unpaved feeder roads to commercialfarming communities and villages (280 miles); and tracks/footpaths leadingto subsistence farming settlements and squatter communities in hillyterrains (100 miles). There are very limited road networks in theGrenadines. The network is inadequate especially for the large and growingexport-oriented agricultural sector. Furthermore, the road maintenanceprogram would need improvement in both budgeting and institutionalarrangements as the Public Works Department is only responsible for themaintenance of about 385 miles of roads (213 miles paved and 172 milesunpaved). The maintenance of the remainder of the road network falls underthe responsibility of the various Town Boards and Village Councils. TheGovernment recognizes the serious shnrtfall in the road network and ispresently executing a 19.5 miles agricultural feeder roads program in its1986-88 public sector investment program (PSIP). Its ongoing and proposedland settlement programs also contain a substantial feeder roads component.It is, however, recommended that substantial effort should be made toincrease financing for road maintenance and that such maintenance programshould encompass roads under the responsibility of the Town Boards andVillage Councils.

18. Energy. Petroleum products, including natural gas, andelectricity constitute the principal commercial fuels consumed in St.Vincent and the Grenadines. The key issues of the sector pertains to the

supply of electricity. The St. Vincent Electricity Services Ltd. (VINLEC),owned by the Government since 1984, is the sole supplier of publicelectricity in St. Vincent and Bequia. Electricity supply on other islands

is provided by the private sector. With external assistance from IDA,CIDA, USAID, EIB and the CDB, the Government in 1984 embarked on a 5-yearinvestment program to improve electricity generation. The program aimed at

reducing substantially the imports of petroleum products for the generationof electricity by constructing a hydroelectric plant; improving the qualityof electricity services through the rehabilitation of existing dieselengine generating plants and provision of training programs andengineering/consultant services; and reducing the level of the systemsdistribution losses while extending substransmission and distributionfacilities. While the management of VINLEC is presently sound, in view of

the shortage of local technical/managerial personnel facing St. Vincent andthe Grenadines, the corporation is using consultancy services from CI Power

of Canada.

19. Water and Sewerage. The main issues in this sector are technical,financial and managerial. The potable water supply system, althoughaccessible to about 972 of the population, is poor because of inadequatestorage facilities, and excess leakage in distribution. It is estimatedthat about 502 of the 7-8 million gallons per day of water produced by theCentral Water and Sewerage Authority (CWSA) is wasted through pipelineleakages. The absence of storage facilities also results in water shortagein the dry season when the daily output is 3-4 million gallons. The CWSAis now executing a leakage detection program but it is constrained byfinancial resources and technical personnel. CWSA had an accumulateddeficit of about EC$ 6 million prior to 1986. The improved financialposition in 1986 resulted primarily from 100-200Z tariff increases in thatyear. Revenue collection has been hampered by the small proportion ofmetered customers (only 342). The CWSA should increase its revenuecoverage by expanding its metering program, by initiating regular reviewsof its tariff structure, and by improvements in the efficiency of water

supply through tackling its technical problems, mainly pipeline leakages.

20. Sewerage services are provided to only 5? of the population,mainly Kingstown residents, while the rest of the country uses pits andseptic tanks. The poor status of sewerage disposal could become a threatto the quality of the environment, especially the highly populated and

hotel concentrated beaches. The Government encourages homeowners to

replace pits with septic tanks but the effort has not been effective.There are proposals, however, to address disposal in certain strategiclocations. While the sewerage problem is not very serious at the moment,

early action to undertake improvements in sewerage disposal and provideguidelines for the future might assist in averting a potential disaster.

Social Infrastructure

21. Education. The inadequacies in the provision of formal educationconstitute one of the factors accounting for high unemployment. The main

deficiencies are the inadequacy of educational facilities and the absence

of a coherent strategy. The number of schools for primary and secondaryeducation is insufficient to cater for the estimated 36,000 per annum

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school age population, resulting in aboat 10Z of them having no access toformal primary education and 202 not having access to secondary education.The trained teacher/student ratios are very lowt 1:74 in the primary schoollevel and 1245 at the secondary school level. Weaknesses can also be foundin the curriculum which, while oriented towards business related subjects,is poor in preparing students (especially the 13 years olds and over - some3,500 per year - who do not get access to secondary school) in job marketrelated occupations in industry. In view of the above, it is estimatedthat about 252 of the primary school students (at the ages of 10-13) dropout, as a result of the lack of space and inappropriate curriculum.

22. The school dropouts and the non-enrolled form the core of theunemployable. The poor performance of the educational system (indicated bylow success rates at terminal examinations - 302 at the UK based GeneralCertificate of Examination and 52Z at the Caribbean Examination Council in1985) results in unsuitability of candidates for employment in publicadministration, business and industry and partly accounts for the shortageof technical and managerial staff in the public sector. The Government iscognizant of the above and in its Development Plan proposes to initiate areview of the relevance of the existing educational programs, expandfacilities and improve planning. Specifically, the Government plans to,among other things, undertake: (a) a review of all aspects ofinstitutional requirements from pre-primary to teacher training, includingadult education and education for children with special needs; and (b) theapproval of teaching staff for privately owned secondary schools. Inaddition to the above, the Government should: (i) continue to pursuemeasures, such as the experimental shift system, to ease the shortage ofschool space until the proposed school expansion program is completed, andthereby enforce compulsory registration and attendance at school for ages5-15 years; and (ii) expand its teacher education program to produce moreteachers so that the teacher/student ratios could be improved to 1:40 and1:25 in the primary and secondary schools respectively. Furthermore, St.Vincent and the Grenadines should seek additional technical assistance forthe sector.

23. Population and Employment. While the population density (294 persq km) and growth rate (1.22 p.a. during 1970-80) are moderate, it is thecharacteristics of the population that is the major cause for concern:

(a) The labor force is estimated at 57,000 (532 female and 472male), growing at about 1.7Z p.a. It is estimated that thecurrent unemployment rate is between 25-352 of the laborforce; however, based on the 1980 census, about 45Z of theunemployed were male and 552 female.

(b) It is estimated that the dependency ratio (including theunemployed and the economically inactive - persons over 65years and under 15 years of age) is about 60-652 of the totalpopulation. This is very high in relation to theeconomically active population of about 352.

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(c) The fertility rate among the 15-24 age group (which accountsfor over 602 of the unemployed) is very high as theyaccounted for about 66Z of the total births in 1980. Thelevel of teenage (15-19 years) pregnancy is a cause forconcern as they accounted for 302 of babies born in 1980.

24. The Government is concerned about the above populationcharacteristics and their implications for employment and social services(education, health and housing). It has initiated a number of programs toaddress the key issues, viz: (i) the implementation of a training projectwith financial and technical assistance from the USAID to train especiallyyoung women for employment in industry; (ii) the launching of a program ofinformation, education and communication to heighten awareness ofresponsible parenthood through the St. Vincent Planned ParenthoodAssociation and the Family Planning Unit (of the Ministry of Health). TheGovernment has also established a Population Task Force with theresponsibility to prepare a national policy on population; (iii) thestrengthening of its Women's Affairs Unit to effectively address employmentand women's role in the economy; and (iv) through its public sectorinvestment program (PSIP), plans to use the civil works projects for short-term employment and, through the proposed land settlement program, toabsorb displaced farming families in the medium-term.

25. While the above initiatives are commendable, they should besupplemented by the following actions:

(a) The development of self-employment schemes for the unemployedsince the PSIP is not large enough to generate substantialemployment opportunities. The establishment of a special"self-employment loan fund" to finance project proposals fromqualified unemployed should be explored.

(b) Revision of the fiscal incentive element under the IndustrialEncouragement Act, which grants tax holidays on profit andexemption from import duty on capital goods and rawmaterials, from its present bias toward capital intensiveinvestment to labor intensive investment by: (i) providingtraining grants to enterprises for upgrading unskilledworkers; and (ii) by granting fiscal benefits for increasedemployment of labor.

(c) The intensification of the Family Life Education in schoolsto heighten awareness of responsible parenthood through: (i)the strenthening of the health science program in the schoolcurriculum; and (ii) the expansion of the Family PlanningUnit to deliver uninterrupted knowledge of contraceptivemethods.

26. Health. Despite the adequacy of physical facilities andinstitutional structure at the ministerial level, the quality of healthcare delivery is constrained by weak organization and management,exacerbated by personnel shortage. There is the need for a restructured

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organization of health care delivery with an administrator to coordinatethe financial, staff development, service logistics, supplies, anditnstitutional development at the Kingstown General Hospital and itsaffiliated hospitals and clinics. This arrangement would allow the SeniorMedical Officer to concentrate on quality control, and diversification andrationalization of services. The serious shortage of nurses and medicalprofessionals (a considerable number of trained health personnel migrateeach year because of low wages and inadequate condition of services) willcontinue since the country cannot compete in wages with more industrializedcountries recruiting health personnel from the Caribbean region. TheMinistry of Health should therefore review the staff/patient ratio todetermine the mix of staff and level of staff training required toadequately provide the service. An improved in-service training programshould also be designed and executed to ensure adequate supply of skilledpersonnel. Finally, the rising cost of health care and the Government'slimited financial resources require a new look at financing health care;especially in the areas of cost recovery on pharmaceuticals, laboratorycests and medical supplies. There is also scope to explore theestablishment of a national insurance scheme for health care which couldelicit private sector financial/management support.

27. Housing. The main issues facing the housing sector are theshortage of affordable houses, particularly with regard to the low incomegroups, and the weak institutional and financial support. The Governmenthas estimated that approximately 763 units a year would be required during1986-88 to satisfy present demand, i.e., replace existing substandardhousing and keep up with increasing population. In response, it hasinitiated two housing projects durirng the planned period (1986-88) at theFair Hall and Diamond estates with a total of 110 two-bedroom units. Bothprojects are, however, not capable of meeting the housing needs of the lowincome families because of the high cost of construction. The Governmentis also encouraging private sector participation in mortgage financing byproviding tax incentives to the commercial banks for financing houseconstruction.

28. The institutional structure for handling Government's involvementin the housing sector requires review. The Housing and Land DevelopmentCorporatiorn (HLDC), the public agency responsible for low income housing,is financially weak as a result of serious inadequacies in its financialmanagement. In view of the extreme shortage of technical and managerialpersonnel facing the public sector as well as the Government's policyintention to promote private sector involvement in the housing sector, itis recommended that the HLDC be abolished. The Government should alsoreview the cost-effectiveness of its recent policy of granting commercialbanks fiscal incentives to extend credit to the housing sector since theresponse to this policy has been below expectation. The Government shouldexplore alternative means to increase the number of people who qualify fora mortgage through promoting a system of membership in a house purchasesaving scheme. The present activities of the privately-run Building andLoans Association should be encouraged to expand. It is also recommendedthat the Government, in addition to formulating a sites and servicesprogram, should explore innovative approaches such as the self-helphousing scheme, and the "core-house" (starter home) model for the lowincome groups.

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IV. PUBLIC SECTOR INVESTKENT PROGRAM

Composition of the Program

29. To support the programs outlined in its Development Plan(1986-88), the Government put together a medium-term public sectorinvestment program (PSIP) covering 1986-88 in the first instance, which has

been updated to cover 1987-89 on a three-year rollit-g plan format (AnnexI). The program reflects the Government's objective of providing basicinfrastructure to support private sector activities. .e distribution ofexpenditures on the PSIP reveals a heavy emphasis on t.e expansion of the

energy, agriculture and transportation; together constituting about 60? oftotal expenditures projected for 1987-89. This is consistent with theGovernment's objective to promote exports and employment on the basis ofprivate sector supported growth in agriculture, manufacturing and tourism(para. 8). Industry and education each accounts for 102 and the remaining202 goes for health, housing and other social infrastructure.

30. The largest single project in the program is the CumberlandHydroelectric Project (total cost estimated at EC$ 83 million). Theproject involves, among other things, the construction of three powerplants, transmission, distribution and power loss program andrehabilitation of existing diesel plants (para. 18). It is planned for

completion in 1989/90. Two other projects in the programs are veryimportant not because of their size but because of their expected impact on

the economy. They aze the Quarry Development and Orange Hill Developmentprograms. The quarry development project is financed by the CDB. Theproject aims at the refurbishment and modification of existingcrushing/screening plant and equipping and relocation of the Arnob Valequarrying operation at a new quarry site at Lowmans Bay. The availabilityof quarry material for civil works and housing projects has been a majorconstraint to the implementation of the PSIP (para. 31). The project would

thus ensure that the demand for fine aggregate and quarry products will be

met over the medium term. Finally, the Orange Hill Development Project

constitutes the core of the Government's agricultural diversificationprogram. The program involves an integrated land reform effort for the

Government-owned Orange Hill estate, including the provision ofinfrastructure, extension services, training and credit facilities. World

Bank and other external financial and technical supports are being soughtby the Government for the second phase of the project and relatedagricultural diversification program.

Selected Implementation Issues

31. Institutional Capacity. Substantial implementation problems exist

as evidenced by the experience of the first year of the Government'sprogram (1986-88). Realized expenditure in 1986 amounted to EC$ 39million, which was substantially below the projected expenditure of ECS 58

million envisaged at the beginning of the Plan, although it was 29Z above

the level realized in 1985. The factors accounting for the slow rate of

project execution include poor project management and supervision withinthe implementing ministries and agencies and the shortages of inputs

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(construction materials, such as rock aggregates). The slow rate of quarrydevelopment and the difficulties in procuring adeouate crushing materialsare both associated with the shortage of equipment and spare pasts, andmanagement and administrative weaknesses (lack of key technical personnel)of the newly established General Equipment and Services Corporation(GESCO). The Government should, as a matter of priority, undertakeinstitutional strengthening of GESCO. The implementation of the QuarryDevelopment Project (para. 30), should help ease the expected constraintsto program implementation. The promotion of private sector participationin quarry development should also be intensified.

32. Financing. The Government's preliminary estimates on thePSIP envisaged a total expenditure of EC$ 198.7 million over 1987-89,of which EC$ 80.3 million were projected for 1987. Based on theconstraints outlined above, as well as on information on the progressof ongoing projects covering January-June 1987, it is estimated thatexpenditures on the PSIP for 1987 would be less than the plannedfigure, amounting to EC$ 60.5 million. The revised projections for1987-89 imply that the PSIP will amount to EC$ '80.6 million (US$66.9million), for which EC$ 132.0 million (US$48.9 million) would bemobilized from external sources and the remaining from local sources.About EC$ 83.7 million (US$31.0 million or 65Z) of the externalresources are already available through approved loans (EC$ 62.9million or US$23.3 million) and grants (EC$ 20.8 million or US$7.7million). Confirmation of uncommitted external resources amounting toEC$ 48.3 million (US$17.9 million) has to be formalized with theidentified agercies who have already expressed interest (Annex I).The domestic resource requirements, which amounts to EC$ 48.3 million,will not result in implementation delays provided the projected levelof public sector savings are realized (para. 34). Dependence on thedomestic banking system is estimated at EC$ 7 million during 1987-89,which is moderate,

V. MEDIUM-TERM GROWTH PROSPECTS

33. The country's growth prospects will be influenced by thetimeliness of the proposed public sector investment program and theprojected high inflow of external capital as they provide the basisfor the anticipated private sector response to public policy. Theimplementation of policies that maintain the country'scompetitiveness, speed-up the diversification of agriculture,establish factory shell and improve the management and facilities forthe tourism sector will also influence the growth prospects of thecountry. Two scenarios have thus been prepared (Annex III): high andlow to correspond with the timely or untimely execution of theinvestment program and the adequacy of policy implementation. WhileGDP growth is projected to be weak (at about 1Z) in 1987 because ofunfavorable weather conditions on agriculture, under the high growthscenario, real GDP is projected to grow by about 3? p.a. during1987-90. On the other hand, if the Government's programs are notimplemented on a timely basis, real GDP under the low growth scenariois projected to grow at about 2% p.a. over the same period. Grossnational savings are projected to average 28? of GDP during 1987-90

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for the high growth scenario. Similarly, gross domestic investment isprojected to average 35? of GDP during the same period. Performanceunder the high growth scenario will be influenced by the success ofthe Government's efforts to: (i) expand exports to regional and non-regional markets, (ii) encourage crop diversification (in particular,implementing its land reform program), and (iii) promote privatesector participation in agriculture. These efforts would imply a 4?p.a. projected real growth in the value added of agriculture during1987-90. The performance of manufacturing is projected to be sluggishin the short-term, unless the shortage of factory shells is resolved.Moderate real growth rates of 2-3Z are, however, projected formanufacturing during 1987-88; thereafter, with new factory shells,3-5? p.a. real growth should be possible. If the ongoing economic andtrade liberalization policies and private sector promotion aremaintained, the services sector is projected to grow in line with thegrowth of GDP.

34. It is projected that the public sector finances would improvein the medium-term if the Government undertakes the additionalmeasures to strengthen the finances of the public enterprises, notablythat of DEVCO, the AIA and HLDC (para.5). The public sector savingsare projected to improve from 8.1? of GDP in 1986 to 8.2Z by 1990 withthe substantial improvement coming from the Central Government (5.1?of GDP in 1986 to 6.8? in 1990). In view of the substantiallyimproved performance of the last three yedrs, it is projected that theCentral Government revenues would not rise rapidly as improvements areexpected essentially from ongoing efficiency measures in revenuecollection. Consequently, to maintain the projected current accountbalances, the ongoing expenditure control and rationalization programsshould continue to be strengthened.

35. The expansion in project-related activities during the periodimplies that imports of capital goods are likely to increase by 5? peryear during 1987-90. As a result of weak external demand for thecountry's export commodities, a 42 per year real growth is projectedfor export revenues during 1987-90. The deficit on the currentaccount of the balance of payments is, therefore, projected toincrease to 72 per year on average over the medium-term, under bothscenarios, to be financed by external flows on concessionary terms.The debt service ratio is also projected not to increase significantlyover the medium-term (averaging under 52 of exports of goods and non-factor services during 1987-90) as most committed external assistanceis expected to be on concessionary terms. The Government has in thepast followed a prudent macroeconomic policy and its policy statementsand actions indicate its intentions to continue to do so. On thebasis of the above, St. Vincent and the Grenadines could be consideredcreditworthy for limited non-concessional resources. With respect toexternal financing, on the basis of the PSIP and the balance ofpayments projections, no additional external financing requirementsare envisaged over the medium-term (1988-90) beyond those identifiedin the revised PSIP.

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ANNEX I

ST. VINCENT AND THE GRENADINUS

PUBLIC SECTOR INVESTMENT PROGRAM

(1987-89)

This Annex contains a list of major ongoing projects and a

list of new projects for 1987-89. The list contains the names of the

projects, the executing agencies, the lenders/donors (if any), the

total costs, the external financing obtained or required, and the

periods for implementation of each project. i,v&a for these projects

were prepared by the Government of St. Vince't aad the Grenadines with

the assistance of the Bank mission.

Page No.

Annex 1A: Ongoing Projects ... . . . . . . . . . . . . . 17

Annex 1B: Concept Projects . . . . . . . . . . . . . . . . 21

Annex lCt Financing the PSIP (EC$'OOO) . . . . . . . . . . 22

- 16 -ANNEX. I

ST. VINCENT AND THE GRENADINES:

PUBLIC SECTOR INVESTMENT PROGRAM

(1987-89)

KEY

Headings: Type Status:

SOF - Source of Funds GRA - GrantTOF - Type of Funds LOA - LoanSTAT - Status at Dee 86 REV - RevenueUNK - Unknown COM - Completed

ONG - OngoingSUS - SuspendedAPP - Funds approvedCOF - Confirmed donor supportPIPE - Seeking donor supportCON - Concept, little preparationNA - Not available

Titles:

ADP - Agricultural Diversification and PromotionASP - Agriculture Sector ProjectBNTF - Basic Needs Trust FundCAEP - Caribbean Agricultural Extension ProjectCHP - Cumberland Hydroelectric ProjectGESC - General Equipment Services CorporationGHS - Girls' High SchoolGIS - Government Information ServiceHIAMP - High Impact Agricultural Marketing and PromotionMAF - Mission Administered FundsMCW - Ministry of Communications and WorksMTAC - Ministry of Tourism, Aviation, Culture & Women's AffairsNBC - National Broadcasting CorporationPIR - Productive Infrastructure RehabilitationSPIF - Small Projects Implementation Facility

Donorss

CDB - Caribbean Development BankCIDA - Canadian International Development AgencyEEC - European CommunitiesIBRD - International Bank for Reconstruction and DevelopmentIDA - International Development AssociationJAP - JapanLOC - LocalOAS - Organization of American StatesPRI - Private ContributionsROC - Republic of China (Taiwan)UK - United KingdomUN - United NationsUSA - United States of AmericaVAR - Various

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ANNEX IASt. Vincent and The Grenadines : PSIP (1987-99)

Ongoing Projects

It 1~~EST'D 1EST'D !PROJECTED !PROJECTED :PROJECTEDSECTOR/TITLE 1SOF TOF:STAT!TOTAL 1EKP !EXPENDITURE 1987 !EXPENDITURE 1988 :EXPENDITURE 19899('000 EC$) ?1 1 COST :1986 !Total Ext Local !Total Ext Local !Total Ext Local

AGRICULTURE, FORESTRY & FISHERIES I . 1 CAEP :USA6GRAICON S 40? 45:! 0 0 0? 0 0 0 i 0 0 0Banana Industry Support Scheme 85186:UK GRA:0NG6 496 1 0 i301 301 0 1 0 0 0 i 0 0 0Topworking Mango - Extension :UK GRA?aNG 120 1 41 55 55 0 0 0 0 i 0 0 0Crop Development - Onions ?UN GRA:0N6 125 ? 40 : 40 40 0 45 45 0 1 0 0 0Fruit Fly Trapping Programse !USA GRA:ON6 1 400 1 154 1 250 210 40 1 0 0 0 1 0 0 0Watershed Management - CHP !USA GRA!ONG6 1601 1309 350 310 40 350 310 40 ? 0 0 0ADP !USA GRA:ON6 :6356: 1943? 1000 1000 0 0 0 0?i 0 0 0

Livestock Development Phase I :EEC GRASGUS 1 622 1 14? 0 0 0? 400 400 0? 400 400 0Banana Industry Rehabilitation :CDB LOA:APP :8967 o 0 4641 2641 2000 14326 0 4326 1 0 0 0Land Acquisition - Cane Grove ILOC LOA?APP :1963 0? 1963 0 1963 ? 0 0 0 i 0 0 0Orange Hill Development Programme :CDB LOAICOF : 3913 : 0? 0 0 o :2000 1820 190 :1913 1743 170Orange Hill Development Programme 1CIDA GRA?COF 1 383 1 0?i 0 0 0 200 200 0? 183 183 0Develtopment of Fishing Industry ?CIDA GRA!COF :10106 1 0? 0 0 0 ? 2000 2000 0? 3000 3000 0Orange Hill Development Programme ?EEC GRA?COF 1 7000 1 0? 0 0 0 :2000 2000 0? 3000 3000 0Kingstown Fisheries Infrastructure ?JAP GRA:COF 1 7000 1 0? 0 0 0 11000 1000 0 :4000 4000 0Purchase of Fishing Equipment 1JAP GRA:COF 1 810 ? 0? 0 o 0: 810 810 0 : 0 0 0

Banana Industry Support Scheme 86/87:LOC LOA?PIPE? 280 1 0 ? 0 0 0? 280 0 290 1 0 0 0

MANUFACTURING/OUARRYING/CONSTRUCTION: iIndustrial Estate :CDB LOAIONG ? 4282 : 1300?1 520 520 0 ?550 550 Q i 0 0 0Ouarry Developaent ?CDB LOA?APP :17721 : 0: 3000 2000 1000 :3000 2000 1000 13000 2000 1000Diamond Industrial Estate ?CDB LOA?COF 4300 ? 0 : 0 0 0? 1000 900 100 13000 2800 200Diamond Industrial Estate ?CIDA GRAICOF : 2500? o: 0 0 0? 500o 500 0? 1500 1500 0

ENERGY ? ?

Cumberland Hydroelectric Project ?CDB LOA?ONG ?13734 1 114514630 4167 463 :4630 4167 463 11029 923 106Cumberland Hydroelectric Project :CIDA GRA:ONG :26141 114523 ?3080 3080 0 ? 503 503 0 ? 43 43 0Cumberland Hydroelectric Project :EEC LOA:ONG 1 7836 : 2398? 4938 4938 0 ? 548 54B 0 1 0 0 0Cumberland Hydroelectric Project ?IDA LOAIONG 116330 :2530 :4617 4063 554 ?2660 2340 320 1 175 154 21Cumberland Hydroelectric Project :USA LOAIONG :20250 4795 ?10937 9406 1531 ? 1161 998 163 1 0 0 0

TOURISM Ii ? Improvements to Tourism Attractions ?LOC REVIONG I231 1 31?1 50 0 50? 100 0 100 1 50 0 50Craft Development Production Units !UN GRAIONG 1150 1 72?! 76 76 0: 0 0 0: 10 10 0Tourism Development Programme :EEC GRAICOF 982 1 0 1 0 0 0? 400 400 0: 582 582 0

- 18 -

ANNEX IASt. Vincent and The 6renadines : PSIP (1987-89)

Ongoing Projects (Cont.)

…-- - - - - - - -- - - - - - - - -- - - - - - - - -- - - - - - - -_ -- - - _ -_ - ___ -_-_-_-_-_-_-_- _i 1 : EST'D :EST'D !PROJECTED PROJECTED !PROJECTED

SECTOR/TITLE 1SOF TOF:STAT:TOTAL :EXP !EXPENDITURE 1987 EXPENDITURE 1989 !EIPENDITURE 1989(O000 EC$) :COST 11986 ITotal Ext Local ITotal Ext Local Total Ext Local

TRANSPORT & CONMUNICATIONS I t : IKingstown Port Development Phase I 1LOC LOA:COM : 600 : 120 0 0 0 0 0 0 0 0 0Basic Needs Trust Fund (BNTF) - Rds CDB 6RAWNG 6 2398 I 1450 290 290 0 0 0 0 0 0 0Road Rehabilitation ILOC LOAlON6 701 : 540 1 104 0 104 0 0 0 0 0 0Kingstown Port Development Phase II :LOC LOA:ON6 275 70 : 205 0 205 I 0 0 0 0 0 0Rehabilitation of Windward Highway LOC LOAION6 2765 I 382 1 200 0 200 740 0 740 8 925 0 825Arnos Vale Airport Improveaents 1LOC REVION6 : 185 : 67 118 0 118 I 0 0 0: o 0 0Georgetomn - Fancy Road I WUK 6RAtONG 2613 830 1000 1000 0 1 783 783 0 0 0 0PIR USA GRA:ONG: 7301: 467 : 100 0 100 0 0 0 0 0 0Bequia Road Development ILOC LOAhSUS : 360 : 45 315 0 315 : 0 0 0 0 0 0BNTF Roads Performance Phase :CDB SRA:APP 1800 O : 800 800 0 :1500 1500 0 300 300 0Feeder Roads III ICDB LOA:APP : 6085 1 Oh 1500 1500 0 2000 1900 100 2585 2480 105Kingstown Port Pedestrian Bridge CDB LOAIAPP h 506 QI 0 0 Oh 200 200 0 306 306 0Glen Road/Vermont Main Road iLOC LOA:APP U 448 0 1 448 0 448 : 0 0 0 0 0 0Purchase of Engine - Grenadines StarILOC LOA:APP 1 250 0 1 250 0 250 1 0 0 0 i 0 0 0Feeder Roads IV :CDB LOA:COF :8000: O : 0 0 0 ' 0 0 0 4000 3600 400Kingstown Port Pedestrian Bridge 1CDB LOAICOF 506 0 0 0 0 0 0 0 0 0 0Caribbean Airports Project - Constr.1CIDA 6R4:COF :1650 o O : 650 650 0 :100Q 1000 0 I O 0 0Bequia Airstrip !EEC 6RAICOF :23000 : Oh 0 0 0 1 600 600 0 :6000 6000 0Purchase of Road Equipment 1LOC LOAPIP' 1300 O : 650 0 650 I 650 0 650 : 0 0 0Narker Bouys - Grenadines :LOC REV:PIPE: 20: Oh 0 0 0 20 0 20 0 0 0Layou Jetty LOC REVIPIPE: 70 0 0 0 0 70 0 70: 0 0 0

EDUCATION & TRAININ6 : : :Student Loans :CDB LOAION6 1 945 h 70 1 100 100 0 i 100 100 0 1 105 105 0General Science Laboratory - GHS LOC REVION6 I 650 : 100 : 550 0 550 : 0 0 O : 0 0 0Kingstown Primary Sch. Construction UK GRAIAPP :3210 : 5 : 800 800 0 2200 2200 0 218 218 0CDB/OECS Tech/Voc Projects :CDB LOAICOF ;6217 1 Oh 0 0 O 500 450 50 1 4000 3000 1000Improvements to Schools 1986/87 1LOC REVYPIPE: 3154 Oh 800 0 800 11600 0 1600 1 755 0 755Improvements to Schools 1987/89 :LOC REV:PIPE: 4649 q O 250 0 250 :1750 0 1750 2649 0 2649Home Economics Centres LOC REV:PIPE: 99 0 : 0 0 0 99 0 99 1 0 0 0Drainage at Teachers College LOC REVhPIPEI 50 1 0 0 0 0 50 0 50 0 0 0Extension to iinistry of Education LOC REV!PIPE 260 0 0 0 0 : 260 0 260 : 0 0 0

I a a a a I

- 19 -

ANNEX IA

St. Vincent and The Grenadines : PSIP (1987-89)

Ongoing Projects (Cont.)

i 1 1EST'D :EST'D !PROJECTED :PROJECTED 'PROJECTED

SECTOR/TITLE !SOF TOF:STAT:TOTAL IEXP !EXPENDITURE 1987 :EXPENDITURE 1986 EXPENDITURE 1989

1'000 ECS) COST 11986 'Total Ext Local Total Ext Local Total Ext Local

HEALTH & ShNITATIION ' ' '

Bulldozer - Public Health Dept 'LOC REVICON l 150 150 0 0 0 0 0 0 0 0 0

Cell Counter - Kingstown Hospital !LOC REV'CON 25 1 24 0 0 0 0 0 0 0 0 0

Vehicles - Vector Control Programme 'LOC REV'COH ' 50 30 0 0 0 0 0 0 0 0 0

Kingstown Hospital Redevelopment 11 'EEC GRA'COF :5230 0 0 0 0 500 500 0 3000 3000 0

Construction of Clare Valley Clinic 'FRA GRA'COF 257 ' 0 0 0 0 137 137 0 ' 0 0 0

loprovements to Health Facilities :LOC REVYPIPE: 300 0 Q 150 0 150 150 0 150 0 0 0

Health Facilities Improvement 87/88 'LOC REV:PIPE' 642 0 100 0 100 ' 200 0 200 342 0 342

X-Ray hachine - Kingstown Hospital ILOC REV:PIPE' 275 0 0 0 0 275 0 275 0 0 0

Purchase of Garbage Truck 'LOC REV:PIPEI 75 0 0 0 0 75 0 75 0 0 0

Land Purchase - KingstoNn Hospital I:LOC REV'PIPE: NA ' 0 0 0 0 0 0 0: 0 0 0

WATER & SEWERAGE '

Barrouallie Mater System 1CIDA GRA;COM 36 16 l 0 0 0 0 0 0: 0 0 0

Basic Needs Trust Fund - Mater ;CDB GRA:ONG : 366 : 348 21 21 0 0 0 0 0 0 0

Water Meters - Installation :CDB LOA:ONG '1486 b 234 ' 472 422 50 0 O 0 0 0 0

Repairs to Foreshore & Sewer Outfall:LOC LOA'ONG ' 700 ' 609 ' 91 0 91 : 0 0 0 i 0 0 0

Georgetown/Byrea Water Supply 'ROC LOA:ONG 1830 ' 342 : 500 500 0 : 250 250 0 i 0 0 0

Diamond Estate Mater Supply :USA 6RA:APP :2000 o 0 0 0 1500 0 1500 ' 500 0 500

Colonarie River Mater Supply 1CIDA GRA:COF : 4700 ' 0 ' 0 0 0 0 0 O '1000 0 1000

HOUSING ' 'Low Cost Housing Scheme :ROC LOA:ONG ' 6400 ' 800 ' 200 0 200 : 3800 3550 250 '1600 1600 0

Low Income Hortgage Financing :CDB LOAICOF ' 4050 : 0 : 0 0 0 550 500 50 '1100 1000 100

Land Acquisition - Housing/Clinic :LOC REV:PIPE: 50 0 : 0 0 0 50 0 50 0 0 0

Building Purchase Community Purposes'LOC REV:PIPE: 140 ' O 0 0 0 140 0 140 ' 0 0 0

SOCIAL DEVELOPMENT : : :

Community Developeent 1985/86 UK GRA!CON 794 : 400 0 0 0 0 0 0 0 0 0

Comaunity Development 1986/87 :UK GRA;ONG 1054 : 300 754 754 0 0 0 0 i 0 0 0

Youth Centre - Caapden Park LOC REVIPIPE! 100 0 0 0 0: 100 0 100 ' 0 0 0

Post Office/Library'Day Care Centre :LOC REV'PIPE! 150 ' 0 0 0 0 150 0 150 0 0 0I . I I . .

- 2 0 -

.A.NNEX IASt. Vincent and The Grenadines : PSIP (1987-899

Ongoing Projects (Cont.)

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

t1 ' IEST'D 1EST'D :PROJECTED !PROJECTED !PROJECTEDSECTOR/TITLE ISOF TOF'STAT'TOTAL 1EXP !EXPENDITURE 1987 :EXPENDITURE 1988 !EXPEN"DITURE 19891'000 ECSI 1. :COST '1986 !Total Ext Local 'Total Ext Local 'Total Ext Local

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

OTHER ECON"OM"IC i i i i 11Consolidated Line of Credit :CDB LOA!ONG 1 .690 400 200 200 0 1 450 450 0 :250 250 0Sea and River Defences :LOC LOA!0NG 1 1060 683 265 0 265 ' O O O ' O O Richmond Land Settlement Infrastr. ILOC LOA:ONG 400 1 347 : 53 0 53 0 O O O O O OGrenadines Multi-project C8.9 LOA:APP : 8370 O 0 500 0 500 2900 2700 200 1 3600 36'00 0Restoration of Flood Damage :COB LOA'iAPP 1 1390 O 1000 900 100 i 390 350 40 1 0 0 0Yaterfront Devt. Fort Elizabeth - I 'CIDA 6RA!COF :1000 O O O 0 1000 1000 0 1 0 0 0Land Acquisition (Housing) 10 LC REV 'PIPE' 195 O 195 0 195 0 O O O 0 O German Gutters Trousaca/Oeia :LOC REY PIPE! 340 O 0 O O O 100 0 100 200 0 200

OTHER Sail Investigation - Reclamation 'LOC REV:CO." 35 35 1 O O O i O O O ' O O ORefurbishment of Peace Mremorial Hall'LOC REV"C0.. 56 '31 ' O O O 11 O O O 0 O O National Documentation Centre 1CID.^ GRA ON6 ' 106 .30 . 16 16 0 1 0 0 0 O O ORenovation of Prisons 1LOC REV0O6 150 1 25 . 100 0 100 : 25 0 25 ' O 0 ORenovation of Governeent House :LOC REVION6 : 685 1 345 41 0 41 i O O O O O ODistrict Post Offices .LOC REVIONG 1 200 .56 ! 93 0 93 50 0 50 1 0 0 0Equipeent - Data Processing Dept 1LOC REV:ON6 1 182 0 O 60 0 60 0 O O O O O OImprovements to Public Works Dept :LOC REV.ONG6 390 208 . 76 0 76 O O O ' O 0 OPurchase of Police Radios :UK GRA'ONG 1442 . 32 1 10 10 0 1 0 0 0 1 0 0 0N"iscellaneous Small Projects$ !VA^R GRA ONG : 300 1 100 100 100 0 I 100 100 0 :100 100 0Finance Office Complex 1LOC REV'iAPP 1 6600 O 500 0 500 1 3100 0 3100 1 3000 0 3000Coastquard ll-a&t :USA GRA'iAPP 5000 O 5000 5000 0 i O O O O O OEqpt./Vehicle/Generator N.9C Radio 1LOC REV PIPE: 100 O O O O 0 too 0 100 1 0 0 0Victoria Park Storage Facility ILOC REVIPIPE! 165 1 0 7 165 0 165 O O O O O O Office Ieprovesent - ."TAC :LOC REV!PIPE: 80 O 50 0 50 1 30 0 30 i O O OOven and Generator for Prison 1LOC REV'PIPE' 159 ' O ' 50 0 50 i109 0 109 O O O Renovation Georgetow.n Revenue OfficelLOC REV PIPE! 150 ' O i O O O 150 0 150 . O O Equipment for Govt. Printery 1LOC REV PIPE: 400 ' O ' O 400 0 400 ' O O ."C.Y Office Coeplex :LOC REV.PIPE' 26 O 150 0 150 110 0 110 O 0 O Purchase of New" Computer 'LOC REV.PIPE' 1533 . O ' O 1533 0 1533 0 O O Extension to MSin.istry of Education '.LOC REv'PIPE' 260 ' O 0 O O 260 0 260 i O O Coastguard .8ase .UK GRA.COF . 2812 . O . O O O I O O O ' 500 500 0

TOTAL . '. . 39031 .60490 45870 1462Q .61269 39761 21508 .58820 46397 12423-- -- -- - -- -- -- - -- -- -- - -- -- - -- -- -- - -- -- -- - -- _--- - -- _--- -- -- - -- -- -- - -- -- -- - -- -- -

I ."AF, SPIF, .Yest Germany, FranceSource; M"inistry Of Finance and Planning.

- 21 -ANNEX I1

St. VSt. Vincent and The Grenadines : PSIP (1987-89)

Concept Projects

ESTD :EST'D :PROJECTED !PROJECTED :PROJECTEDSECTOR/TITLE SOF TOFISTATITOTAL IEXP :EXPENDITURE 1987 :EXPENDITURE 1989 !EIPENDITURE 1989

l000 ECSI i tCOST 11986 'Total Ext Local 'Total Ext Local Total Ext Local

AGRICULTURE, FORESTRY & FISHERIES : i i i ' 'Forestry Development Programme 1CIDA 6RA'COF : 9000 ' 0 0 '0 0 'Lard Acquisition - Orange Hill :LOC LOA'CON ' NA 0 0 ' O ' 0

Land Acquisition - Various 'LOC REV'CON NA 0 0 0 0

Fuelwood Plan'tation 'UN 6RA:CON ' NA 0 0 0 0

Soil and Plant Laboratory - Rabacca UN GRAICON 60 0 0 0 0 OAgriculture Sector Project UNK UNK:CON '26500 0 ' 0 0 0

Orange Hill Developaent Programme WUK UNKCOF 15954 0 0 0 0 OTurtle and Lobster Hatchery UNK UNK'CON 405 0 ' 0 0 OConstruction of Abattoir/Tannery UNK UNK'CON ' NA 1 0 0 0 1O 0

i i . . . .

ENERGY i ' .

Electricity Development Programme EEC LOA:CON NA ' 0 o O 0 ' 0

TOURISM i 'Line of Credit for Hotel DevelopmentlEEC LOA'CON '4444 0 0 0 OMarine Park Surveillance Craft 'LOC LOA'CON ' NA ' 0 1 0 0 0

Grenadines Tourism Development :VAR UNK'CON ' NA 0 0 ' 0 0

National Marine Park - Tobago Cays :VAR UNK:CON 1 728 0 0 0

TRANSPORT & COMMIUNICATIONS u i : a ' '

Road Rehabilitation - Windblow 'LOC LOAICON I NA : 0 0 0 0

Rehabilitation of I.eeward Highway 'UNK UNK'CON : 6000 1 0 0 0 ' 0

PIR II USA 6RAICON ;10000 O i 0 ' 0 i 0

EDUCATION & TRAINING ' a a a a

Rehabilitation Home for Girls :LOC REVICON 120 ' 0 0 0 0

New Grounds Primary School 'UK UNKICOF ' 310 0 1 0 i 0 0 0

Construction of Two Secondary SchooliUK UNKICOF 1000 Ol 0 : 0 : 0

i~~~~~~~~~~~~~~~

HOUSING ' aSite and Services Programme UNK UNK:CON ' 7500 0 0 : 0 0

SOCIAL DEVELOPMENT i iCommunity Development 1987/88 WUK GRAICON : 1195 : 0 0 0 0

Community Building - Versont UNK UNK'CON 150 0 0 '0 0

OTHER ECONOMIC *

Storm Damage Rehabilitation II 'UNK UNK:CON B 806 ' 0 0 0 0

Access Bridge - Francois/Gaskill Mts'UNK UNKICON 1 300 0 0 0 0 0

OTHER ' 'Refurbishment Peace Memorial Hall II'LOC REVICON NNA 0 0 0 0

Accomodation - GIS 1LOC REV:CON 1 504 01 o O 0 0

Extension to NBC Radio ILOC REVICON ! 200 ' 0 0 0 0

Centre for the Performing Arts 'PRI GRA:CON ' 8519 0 0 0 0

Ministry of Health Building UNK UNK'CON : 750 0 0 ' 0 0

Transmitter NBC Radio :USA 6RAICON I 918 0 O O '

Source: Ministr Of Finance and Planning.

- 22 -

ANNEX ICSt. Vincent and The Grenadines : PSIP (1987-89)

'Financing the PSIP (ECS '000)

1987 1988 1989 1987-89

GRAND TOTAL 60490 61269 58820 180579EXTERNAL SOURCES 45870 39761 46397 132028GRANTS 14513 15988 22836 53337Comeitted 13863 5841 1071 20775Pledged 650 10147 21765 32562

LOANS 31357 23773 23561 78691Cossitted 31357 20103 11418 62878Pledged 0 3670 12143 15813

LOCAL SOURCES 14620 21228 12423 48271REVENUE 3498 11056 6996 21550LOANS 4544 1390 825 6759OTHER 6578 8782 4602 19962

(In Percentage)TOTAL 100 100 100 100

EXTERNAL SOURCES 76 65 79 73GRANTS 24 26 39 30Committed 23 10 2 12Pledged 1 17 37 18

LOANS 52 39 40 43Committed 52 33 19 35Pledged 0 6 21 8

LOCAL SOURCES 24 35 21 27REVENUE 6 18 12 12LOANS 8 2 1 4OTHER 11 14 8 11

Souurce : Ministry of Finance and Planning.

- 23 -

ANNEX II

ST. VINCENT AND THE GRENADINES

TECHNICAL COOPERATION PROGRAMS

(1986-90)

This Annex contains the list of ongoing and proposed technical

cooperation programs.

Page No.

Annex IIA: List of Technical Cooperation Programmesin Progress, FY86/87 . . . . . . . . . . . . . 24

Annex IIB: List of Proposed Technical CooperationProgrammes, FY86/87 . . . . . . . . . . . . . 30

'UIHI VIM I NI AN INL tM NADIllI l[WtlIA 1*11IIIIIIIII PlftI)61 l llh O'Itl

tlSI *f IECOICAl CWEUIAI PtCAE S 1N UMSS (1). Fy 6/10 UtEV:

IECwm; (1) Approved aid/r in executim12) hle el awelmet r initial dtsuwm t13) bte of tirfiutiai a telSiiul dishesmit hate(a) Ut yet ieitiatedllhlrl/Mca. £en tieet1 sr1h/elrIIS!J

slssulsmeded(e)/ttimUs.46s1Cwleted(C)IS) Project 1inte4 (P-1I) I. listelwtltm uowl l5I.

Irimiog lt), 6thff (a)..111.IS Part of bh iul Pregr

IoiAL amo EI FIIIIC LK& FIICIN6 11Milo1 NLSISIIVISllJECI I/A ------------------------------ ------------------- --------------------- STATIS CLASSI- tl

1:91 8111" m H E IuCGtlAI EIFCIi MM Start Cl I. bratiu FICAliUt/C WSRCI btes (7r) Ils

(2) (3) (41 45)

E[hUIIC sEYICES

Avicullore,Forestry.Fisheries

Aiul Nealtbhvet) Services I1) 5W 502 CFTC 6 TiO 170 s/U 6/9 72 ths WI- I-S FAO fiuaed fr sir outks fra Angel I+t.

Wsit MealthiVet) Servies 111) 354 154 FAO 6 IIA 0 86/94 I/U 6 ntbs n-I I-S 1idgigllu finate bY FMO to utnsre vet l 11.le SI.V.AIsO 1(ml. e, r 1141-11.:

Animil lise CorntiollVetl 31r. 316 tlI C IIIIA 5 I/U 11/9 24 dtks J-1 I-S I aroW d liuK ig for fuWthe 2 ItS

AgnaistsiI31 FAC C 1li . 0-I P-I 3 Aroists a

ktleal tesumre aNgnent 1,',3S 1.13 GaS C US 0 6/64 6C/9 -l F-l FPogrming ft l ker I ill; prewq .lrm of A* irtillwal Sew t"e vlan

Finanial CUtrFller. U6 10i INs I"/lCO C 6* 0 S/I5 110/86 15 ntIs 0-1 I-S Iraslfred to Finanial Catruiler 44119he to replete 12/8). lo t. r t* h,.

mwer Adviser, IQ II) ?59 258 188/1lC1o C IIIIUI o 85 10/S2 24 utks I -I I S eiOnal Adiser as if St. Viukrl

IN Agricltural Nissier ,Al,S , .. 0-C I-S A is probctiju of mo-trditlantl probpt

CAMIS Il)(3d cycle) 315411) 193 1 1 6 COICON/tOP 4183 12/C6 44 ltks 0-1 P-1 Extunsi petw in sall fr drevelpoernt, tehioloy an itrlair,iq

CA IS 11) (4th cycle) ll% III 433 EM S C UIIC4I/hW I/U 1191 (A ntis 0-I -II Etmasis grante far a forthr 5 rrs.

CAN] (1) 20,30111 2548 115U8 6 CAll 0 7/83 6SC is nths 6-I F-l lTotal regioul cost ECUO sillion; lmB te-rrStl trial on Imamu. orinruol rel

aelt Lelo ot (Agric. Pro.bce) 1e0 32' OAS C tilA 71 6/615 6/U 12 aths I-S P-I Assistance in witig nd owrbAictiOn el Pruatan utersalz

St.V Agrisituarl 8n. Flrog. ?,9 2,589 5AI41 C I1* 61/6 11/67 41 *ths 0 1 P-i Minter vegetbles fer elwt. ol.kellae; letal rst ICS5.4 41ille a I-In lyr

tostl-Ilrvest dliang of bnions 135 l35 FAO C IIA 0 7/94 /so S-S ?-l MNrketijn,trainiov asnml,volskps.3 yri.4pa.

Post-nret Liss edKtim it) ne 290 FAD c NIlA 0 7/94 12/0 31 tIs 0-i 1-` FrFits and vegetiles; marketing. handling. lge ranuttlin

Natershed a.jsoil Consrvation t570 1270 ISAISI C IIA 251 6/84 9/0 4 aths 0-l P-I C0;It. kurce Legslatiun: training J/na; I loteslsiw swltat

[IF APraisal - EW cI rs9 FF s IIIIA S/S7 12/U7 6 ootks 0-I P- l o doterbei (F assistane to tI a viabilit so peel e

Irrigation Systet - eW 157 157 CI S IFL 0 1/87 1/19 24 Eths 0-r P-I IL - la#ta Fares Ltd

Finanial CanIrellnr - OM Iso Ise u /ICO S IFL 0 12/86 12/67 6 tts 0-1 P-?Il Eitesiin gratiIIs 1 tIs.) to lie.P

Prnject Manwr - OM 13 5; 7 IN/ICO C IL 0 2/U7 2/90 36 atbs. 0-1 P Prfefft Anciet t wma Ianciattd it nugeaRIt eJm.

tLa 4onre?2 Suevesesl 271 277 VW lIA 5. /66 7/11 24 aths 0-l IS ProvisiOn of 2 WVs s Miset n.preremllr mtiNg. we preje. I

CEP - Fitensin Serviuislll 2'.mnftlS1 3/in 55615 6 lIUA 0 3/63 6(69 36 ntks e-r 1 3 fr. estugranted Iro / - qr/i.

MnageIr - WOCO lie III VSAlIlP11 a KVCO 0 /65 /U7 24 ntIs 0-I I S Positim finaed Edn tAil's IR m piota

Freit Fly Surv ;e 0 Io SAID C tIA 0 5/86 12/96 6 aths 0-I ci Is lev rcb in resh irt1 mean' o itii; tin.l to Ihe W. mretw

Easlt Carimen lrining Pltiojlel 4.OitiM ) SAIN G NCIA 0 7/06 7/89 36 atks t-I I Patwrs of Oe irt frou rm

Forestry kSlev tl..pcv$) myI C IlA -. .. .. 24 Etks 0-I 1-s 3 Petae carp. mee dftachr lt Ito tbs - Ir t.

Agriculteral Arvelaparif(pne't nPC 6 111 - 24 attIs IlI I s s Peact worps. ortwrs atlarhd la lip- Ar

51 Agri. lntegratrd Nttai.oeutIi 2.4r 2349 rSAISAN & onC 85 7/5 P!/ w *1 th' n I P-I.1 ProjeI e otle4 by pi rIete v rtet.P, .tlI ,*rw.etletla0 ltr thi ' p'ue.14e.1

iliilitatin of Agriwlteir -I. os% FA0 C Hill o Nil Nil I S r we Prom! aprove.l1 it t el filie t-tii pirpairt d

Plnin of CIS's erogaime 1 o .ie ElA S luitA IA 0 'tli/7 19710 l-I P I C3A'S talp i4 - Inwe;ti /li1w"i" .teI .4.*i ii i.l Pr a t

stI I IECHIICAltCL CWPEU t PROUIE IIN MttiGESS 1i1, F1 0/87 IET:

ItCsOUOI (1) ApproveO inifo, ir eOetutiou(2) Idle il *ppxilst ,t or sittial distoureft'

(cI t.) (31 late at tereiouluoe or tetoiual distwr~ert L41(4) Not let i aled(tolUt/hhead(US/uu tza )/Sotiud eb t.ldMe(IS)/

susperdedtb5sl/zscost uoeIs) l/CtletedtC)) Projet Rlated (t II, lastitutimal Splport il 5)

, ra. ig (II. Other (a)

(I) Prt of ketial rowvae

IOllt Eltl4116t FINANJHC LCWA FININCI U 0itl ANALtSISIILE/SUJECI I/ ------------------------------ ------------------- ---------------------- SAIuS CLASSI- ClOMTS

CoSI M T SKM LI ShIT EXECIIIJII 11 Start Cowl. krationk FICATIUOL/ I MIMCl btes (tl/r) itis

(2) (3) (4) (5)

Iestry laoufacturii91t).

in Distillery Ezpiasicm(huaer) 216 10 CIS/AI) 6 IlF7 1 /0 35 8/6 IU s Nh 1 n fipuiciu el of tIe tangerNadicraft tvelopmt C IAIII BCn 686 6/87 12 ths 0-1 I Irauing; IAFruit I beg. Processiag flait 204 24 CO/ECLAC B NllTA B -1 n Feasibility studylotvesttvt PoMotlO 111 27 27 /USAIJ B6 KI. 0-T 0 Lois" officer in Neu TorClives. _. : A Elport ke.111 345011 .. II3D 6 KM s 9/34 10/89 60 tis 0-1 nI '05*1's MA proj expanded oto 17EC pith 3t,. eataurig. gust PW 521.1

tralls uith keco s inog ditwsim has weaed livbttoet pruotim.IOUis$ (IOU)}

Iorgahsitiz Tourism epartwotat 125 125 [if B KCS 0 137 198 0-1 0 Dbual Expert ii post io SI..Wlill providt assatisel[Wis Assistasce 243 200 05 6 of 43 /|5 6/S 18 -f Pn, fraiuio of ltow, gudes idieutiicatz u f attractions; Prodoct iprovfUntTrade I ltours frosotic 1.1 EEC/C12C/C 6l C A./81 /U87 S ts -1 * tromtia office is Europe, statistical progem han4icraft et; Total U10.louiss Fairs t Exhibitims I [ EEC C f PEI IIC 0-l .. Farticipatim il touriss fairs I esiHiitaus to Berits ad toeo4Gregadiws lomrisa tt. Study 490 490 tMS C h. 0-1 . Pysical ad socio-caleral effects of lowisa bvelopetlowiss Proosti. ad ttarkotii()ll 1 3 ) 13500 EIf CFC . 0/S 6/95 04 ntts S-S 0,1 2 yr. delaylotriso SIsarch eelop til) 1350101) It3500 EIN B CiSc . 69 1-S 0 S1.29 - Cl OfficeTeein lsele aset a traioji ISDII IO EIF C IlA 0 1/89 6/89 29 ntis. 0-1 1,9 Prthim Stody 6reaames.Irati szalf

lrassrtatio (IV), larks ill, Comnication (CONI

Podectiwe Iofr. kshatiitittim(l) 1452 1452 5I1D C Ia 0 9/82 9/87 60 atis. 0-1 P-lI1 CbstruSFtigol tageset Project NOa I trallig: total capitil cost l0.M0Seeia Airstrip feasibility Study 280 290 ElI/EEC I/B UfP 0 1/86 4/87 IS Otis t-l F-l Twist studies ad esienrig dsag wAder LtE l11tflitiue Training AssistiKe 15) . . CZII 6 ISItP . /66 7/88 24 ntis 0-I I rseus trairin ii CmadaCaistrartimo nagee tUit 30t 3a8 tM/lNw C SW tlSt 10/89 56 ntis l-S l-S Stretotiug of ftlic lirks Dpt; civil ad elctriLd rigeetrs (lW)

(jlCoestructitn Euogien(ttIUIHiilElectrical EogieeetMtY)

6.11a 1u/letchaical Eigiweer - 6ESCO 6tS 645 Ull/lCO 6 CESCO 0 1/13 6/89 60 sibs 01 1-S Assist io tie traoFAr1adtiN to hUlic Cap.eatioarry Deelopt Prograe C81 I

Csdin Airport ProjectlCll(II) 360 30 CIIA 6 0-1 PRIrasprt Sector StUdy tIeCS B tCI /86 /87 12 outbs tP

ohtitr Serwor 228 229 COFC C aCIu 3/87 3/89 24 St ts -I I-Sradjioes 10Iti - Prpose Project .. Cm B Kg P-1 Project dtsgi a swerisio

frleciv catica Adviser Ill 31l CFic B ECU 0 4/16 4/80 24 ths 0-1 I-S

MaINI VIWACIT AND CII bEWDIHES fECMIUiM COOJDATIUN PAVU If111 - 1990

tuSI a, IiaauICa CtMiP(IAliliU Pk0693VIS10 iW rwsaSS U), II 06/07 air:

4ECS low) Ii) Appmnord d,urd/,ma In eaahne(2) late of ippoahfttent at mmisiia disbot5~esentt

(cant.) ~~~~~~~~~(3) late DIleterimatios or elerimal daswsanseet date( N)ot yet tnIidWI)AedU) irntaetul)/Se&uid sc"ehi113)I

()Poetbelated 01,-Il, timttutnamal lappt al-S),

IIPart of begabeal Plroqame

10141. (0flilaC FINAHEIHE 18*A FiH*NCING ERAIICI AUIISISHIILE/SIJSJECI i/A -------------------------- ----------- VSaiu etAssi- COIKNiS

COST WIAMI SC4C LW/W6IT EDIEUINS MMOW Start Coqpl. keratmir FICAIJOUC/B WHENT bktes lINft) Nibs

(2) IS) (4) IS)

Energy keelopeut Is ((CS (I) 73 73 tIBop S 01CS(FAS) 0 7/84 7116 24 Nibs 0-1 0 inergy adviser based ism ((CS ((S). Astiqus

hNaqeaen Services to VINLEC 1,517 ,1357 CIbA S VIBUEC 0 6/los S/N 36 moths 0-1 I-S I Adviser 4ad short-tens cusaltmsts; Part of Cu*berlaad Hiy*r-peirMct

Couteland Pfojeca Itanage 92 92 IDA C. VIELC 0 I11184 l2/IS 48 uths 0-i P-I Part of Cuimberland Hy*roelectrnityl peajed ECS9,1380

training - VIE.EC(atPI 2,189 2,189 ISA L VIIUIC o . .. . 0-i jS.- la-service tramiage is elec. mgzieewna etc.; Caabeulad Miteo praject

Ilanagerla) AssistancelCH) 1413 1400 LIDA S ViINC 0 3/16 6188 39 mths 0-i Pt1

Future Hydra Studies - OIl 121 1200 IISAID s VILmu o s,i a2ju as mtbs 0-i P-I

Water Supply (HAS)i

lnstitutiorral Strengtheoino CWUI 65 65 CIbA e ISA 0 1,186 12/86 12 utks 0-1 1-5 Cam year etetnsicm of corsaitant engism/ismegei

Hiscellaneos (HIS)

Institutional Stiengthenino KVCO 162 131 CoB 6 KMC . . . . 0-i I-S Industrial kvelopwaet utlicer A Farm imp,oweueet uft)uer;enlensiom requeted

Pool of (upertutFOEl (I) 3a4 364 (OF B (( . . .. . 0-i i-S SAc' a-aers consultaic its; feail regmomil cost $3,210 wader lull 11

WO - 51.8 Livestock .. .. ElF 6 NIlA . . - .- 0

itanager. KVCO(IFE) 121 125 OSAII-IPES 6 KYCO 0 2/87 2/88 12 omtis 0-1 i-S 2 ern-yearsSaill lasiaess Adviao.s PC, B . - - . 0-i 0

SOCIAL SUIVICES

(docatmos and Training ((AT)

lirsoing leathers ma Practical Subjs. S60 560 OAS 6 BiE 0 ?182 9187 60 antIs 0-I I In-servute Itraining, dutombile, woolmork, octali

Skills training IN) 1108913) .. OAS)USAID & GAS/EDO 0 9/85 81u) 24 moths 0-I I Practical. job-related trairning lot the meuploned

Vlest Indies Scholiirshmp scheae (I) ONGOING P1OORAtIti 1DD B 610/CID 0 OWINGIH PROGRAMME 0-I I 011151S Prografle

Adult Education Cootclination 310 iii) OAS 6 MOE 0 /85 18) I-S I Needs assesseent. equipment, trainintg to be niolise'H (Miar 'S6uS)

Canadian Wraaing Awards ProglIR) 886011) CICA S GIti/Sco 0 0116011 PIIISAIU 0-! I iotal regioatil cost tC11A.849; tfirijogm seinpover planaing, institutCl suppot

Heidi. Engineering Training(CTA) -. CIDA 6 GIO/SCD 0 - . 0-1 I 0t11, St. Augustine; unlder Iraining Awards Prcrgrauer (II

Elet. Engineering Traioing(CIA) -- IDA10 6 G10/SCD 0 1983 199 7 prs 0-i I four under training at C4S] JAhaula; under Irainirig Awdrdt, ?muglaaa (33

.. . .. .. .. . . ..... . ...

1151 tOFiOUNIC*& CUOPEI*II0N P306116S IN PROSS (1I, Fy 6618? [ 16:

IECtWO10) () woe ad/o,r is eieceta.(2) kti of poialumt a istial 4dibrsnm i

(coot.) (3) kte ot tlbination r ttruisat disbu st date(4) Not let i%itfiatdllNll)JAheaifAH9loa ltve(91/Okiad scbedl#lCS1/

SaSPede(Sus)/Iiscstauudlols)ICwletted(C)(51 pfrject blated I-61. lslitutiosul Swe 11-5).

Iraisiz (It, Otter 10)

(1) Part of keiomal Prvor

heuM EmEma filIilCIIG LtEAL FIIICIU 0UtlCII IMLYSIS

IIILiSIECI I ------ ---------- ------------------- ---------------------- SIAUS CtASSI- CEITS

COSI AM1 UfE .LUG1WMI EIECUIIC M1 Start Cal. bratis FICAIIONIA6 LUNCh hiss (nlri) NIbs

(2) (3) (41 15)

tech. ad Science EAcatiO(I) CbtI 6 6CIO|SCO S 10* 5 flu I yrs 0-1 I

lstro. of Comter Stuies 71 50 CDi6 6 IE 21 9/85 S/S7 24 uths C-S I Iraisin for teachrs is C4o bter at blier Collage. Canada

Carib. asis Iater No. Irog. (1) 529(1) .. CMI/CISAI t III 0 12/13 1116 6 mths 0-r I Irailiag at leimal lostitutioss; total tegtusl cost EC$S29

lesting bsremnt a Eraleatias 560 560 015 6 INI a /Is /6 12 aths 0-1 I FelIuhips, triaisig

CAIIu (1) V6 W C NOE 0 1991 199 5 Irs 0-1 1 Total reginul cost ECS726

htti Islad E*octlis(tl) 216 lIfl/16SC 6 CIO/SCI 0 6/64 /16 3 irs O-I,C I Nooherh. mtal, electricity, atombile

Early Childhod Edacaticm 675 675 UNICEF 6 IN 0 3163 3117 4 1rs 0-1 I ouul provisim of .135 for years

lraisina in Fiskries Is U.l JI 6 610/SCD 0 19U 1996 3 Irs 0-1 1 5 pesas trained to eitmiw kt, fish tebMolou ad weotetlchlor

nalti-amal rusini ECf & 60/SOD 0 12/13 12)3 4 irs 0-1 1 Castiunatis of pro m ader " tomol a I

Scbolarships and Training 700 700 CfTC 6 C10/StC 0 ONGO6 ING fWAA I 19 sC1olS.-331 Edt2 p7sucs/mths.16 U.l/p1ah"g22 health 141 othtrS.

Stdent loan Schg IV 545 945 cm S KU S 11910 1216 5 r.s 0-f I

lsdividial Irainig Aardsls) . USAD C C10/SCI e 2/p2 9/*P * rs 0-T 1

etecsital/Votatioul Edecatian 44 44 VWt/lO C MM 0 * S/IS 9pl 3 irs 0-1 1

Early Childliood Edecatii 405 405 UNICEF 6 3l 0 2/02 9/9 I irs 0-1 I

trailing Ards U1WP/lAO & C 1/SCI 0 I0/PS 9/U 3 irs 0-1 1

PAIIU - Ca IU tING P1IIECb 6 Cll 0 2/p2 9/9 6 Ars 0-1 I Pero mha bs etntetde for a irther 4 rrs

ltamate leather Training oNGOI6 P3OG3N3E fAC 6 610/Set 0 1986 1987 Is elks 0-1 1

lehber lraeisg OAS 6 lIE 0 0-1 I

Iraitiog aardsiUl) ONSOING P*II 11 I STO/SCO 0 Oli6 C POE*K 0-1 I

lechaucal lastrictor VW. 0 t OE S 9/1 9/U 24 Otis 0-1 I

Icucfhr/lnebiCal InstrFctor sa C a .. .. 0-l I hSOhas provided 1I teacher/hstiratars

Cotedistim of traiiaag 21e 216 UlIlCEf C 31 * 0-1 I

thiti-Sector leV. see *Aomis U3 t 610/SCD 0 see an.ples sectice 0-1 I lest awraisWd based o rei r to ItS Coatry Pror_am

Irailig lnitistive 11(9) 40 4000 US ID C C10/1St 0 2/IS 9/99 Sirs 0-1 1 3 yr eate leincreast the nieer of US. trained piliatc(p ate sadirieAls

Euhcational Oevlrpust v 6 IIOE 0 0-1 1 9 Ptec Corps MoleSter

lgioeal iraimiog hvelopetl1) 111303) tlSAI6 C lIMP 0 6*13 9/61 4 irs 0-i 1 1 l iWrMve Otpt/Wforase Oft private eetprPrises/pibhlc lfowfts.

Bilateral Subolarships .. . lit/Ag & 60CIOD 0 .. .. 0- 1 T Jon frate Vesmaa Nallasi Seati. 1lal 31 ledia S.lore

Nasagmt traimin le" 6 C CIO/SCO 0 0O1601 PW*1 0-1 1

Top. Ari. Ec.-Pf/S schools Dl it fAO 6 ME 0 0-1 I CaIstasts id"tilied.Goverwal to pret list of soe1ss a hPeslt.

Presiumtial Iraio. liltativelPlIIC)120412) 1204 USIIS 6 OECS/DE a 0 /16 6/69 Jtrs. 0-1 I Scbhoarship upwrtclrties fao disadvat;gsproves ltearship Aplutles,

Iraimig is lleda 216 216 tISP/t$ISC 6 UIESC1/HE 0 /113 3/97 4 irs 0-1 1 Primry a Snrdary Shools

OECS lraloiag proiectilo)(l) 4320 4320 SAIS 6 FM 0 1/13 /16 3 yrs 0-1 I slcreuw m. of vsc./tech./prot./traii" lortutIes - p*lst/Dprsvate sector

1151f ( tiC(IIitC*l. COWIIIU PnWG1M11S la P ESS (1),f F t O/7 III:

(IE'MIl (II roid md/ar 1i *IK ctim(21 bte of aioatmt r inttial dismorsat

ltt.) (3) lS te of teraiutim r termisl disbrsewit ate(4) Mt yet ihitl$ted(NhI)/*bend(NU)/b Iaietl/bind sCedmleSS)/

Sdle S d(slu/Siscmtimed(Sisi/CsretitcI(I) Prirect blated IP-l), lastitotianl SmWt 11-5).

Irojaili 11). Otbn 11)

() Part of onioal Prormse

10llt EllE FIL FICIII t LUA F1tINICIS MIN1 llISIStiFtE/SUlUCI 1/A ------------------------------ ------------------- ---------------------- Sllf,ll tLUSS- tliTS

COST AIJ 11 Il tL/W90 [I ElECtIIE AI_ Start Cowl. le,atiu FiCAlIlL/6 EIKICI ates li/lr) Ntbs

(2) (3) (41 (53

ropulatio,nNealth,tritim

t iif kNeical Off ict S50 512 CFIC 6 71 36 i$tI 6/66 (A mtbs. 0-I,C i-S ceiwes local cutrn btin eqivaieol to budgt provasimFuily flaming 2,517 2,597 gull 6 ON .D/17 Fl e-v S lrising, distriltin of aterials a ttechical assistascePpslatiao ad kvelopet (1) 12,222(1) . 5AD 6 CAIICU 0 7/52 9/0 62 mtbs F-l O Iraisiag, cotraceptive swpil. tqipout & tiyX ontriach prggahist btritiu S lppt Frog. 716 716 UICEF 6 NON I * 0-i S -Popltion Policy Task Force (11 cMICU 6 C ICONe 6 I I-S e hisery Servicesbvisiasof Ii.gstm Ibspital ?la. 70 70 FSF C Not a Fl- I Pha 11Spp. Feedin of Vulsrable Croop eMi 4976 VP 6 ON 1671 61 ntbs 0-f I lbIkrs ad rbilibrt

Nhtimnl FaiRy Pluijag Program 1, tIsm u, A c MI-i C IKIWMs traimiag lWr fult proctailimers 111

Ppsatici ELtatim [Wr Preots 130 1U3 W" S NE Fl- I l estalish atiml parent Ebmltiu PFroumFuill tile Ebctatim/Faill Plming 652 362 tIPA C M .- 1 0 6lit auMs. rFWtiu in tetag P(npMcus. Cm M 1taiM p1.111Cation

PM lfechical Copwatico Fro5r PAN 6 M1 1-T I le mt If nith sevilcs. ur swil szitat!m; 19-n9 1Ct3.5leisit Practiow Fe C A M .F1 -Sk1t1l Ssrp Flt * M F1 I-SNedical Feilmsips 0OIIUIII IIEI Private 6 6C510/St minC "il E I SSterSps bit. kdical ScholFaily brSe Proctissn PrOin 111/1,I11 B WE . S-I Ibaith Proqam - PC? FCI! C M1 F.1 I-SEpidielical Swvniillne & Ilraia 7DD11 700 gull B A/CE I S/79 6/U7 O rs F- t,l Is increse tEt's chitity to assist cutries retr iKibuKe SI tONICa

eieai Pbaetilcai hNMWIet 9450(1) .. 1D1 6 ECS/E O 3/5 5/9 5 rus F-T I Ta assist ECS il bilepim, Prot. to iwJo prnrumt swly _mgot

butinst a Cmitt SwrvrktitOCS)

Iuategrab life. Systen Itmopwut 63 62 015 B sI/IK I F-1 0 Liktrrin ad uchiws

lisxellems (aS)

Socil SeritS 110 10 UM C MU I M$ 3/SC 4 irs -I Ssoial Stcnity Syitne prewed b ILI being aptuate.

SAII N CVIINI AM IIE 6xEuHIIES TECHNITCAL CWOCEUIII PAO6AISE 1986 - 1990

LIST OF IEtI6UA COOPEAUIOUN POSE S IN PIOGESS Ill, Fy 16/17 KEt:

Iltt'DO 11) Awroved ad/r is ejratim(2) btte of abintsnt or isitial disborsunot

Econt.) I3) kat of trniutimn r terminal disbrsent date(4) Nat yet isitiated(OVII/AheodlN /a ti SlTIeied sckthlflSS)/

S51Spbd so/jiscmutluedlis)/CowlotedlC)(5) Project Nlited IP-), lastitnti"al Suprt 11-SI.

Traifisg (11, Sther (0)

(11 Fort of Seiaal Progr

TOTAL EITENl FIUMEIK ttOA FINUlIIINS C IUUI AKtSISTItLE/UUECt / ------------------------------ ------------------- --------------------- SllTtW ttlAS- C1ENIS

COSI flOUT SUfS LOANl/CGIN EXECUTINI OM Start Coml. bratmi FICATIEL/t ACElt btes ITn t Rh

(2) (3) (4) (5)

tEIEUt flUl SEHltCE5

£dmilistratiop A Plaiag JAM)

Tua Adnisistration ErPert 461 461 CFTC 6 1J/UPF 3/U4 6/36 IS ntts O-T I-S Attached to the Island kyrew kWprtmt,NFSocioecooic Ieelpm t flaming 4,717 3902 1w IF? 0 9/79 12/36 7 yrs b-S I-S Project preparatim/iwpleetation; Natioaml eveipepmt Plan

i)EqinEJtC.ech. e dvisfr 111 Mr S if 0 9/79 2/36 7 irs 5-S I-S 7 hrs in service,2 yrs Citlsio of Chief Technical AdvisuPIN lapleeetation 1422 1422 UW C WFP 6 8/86 */dN 2 prs 0-T I-S tdate 3 yr by. Pla7 monitor/wate 7S517prere antil capital estiutes

(iAEn9imer/C. lTch. Adviser 1Ill) .. 6 PIFF 0 II/t 1/89 2 irs 0-I I-S Exteosion grated for a furtir 2 rearsii)ECotist PFOPOSED U. C ENFP 0 UT YEI INtIIATEI I-S

(lilhgricultaral Pawer PROPOSED t. P C FP 0 NOT YEI INITIATED I-S3 Vr Natioal kvel lmt Plan 300 Soo WP/OS C if? 0 .. -s 0 Sector ples towris/aricelture/in*stry/trasvrtaUi.AUI input also.bltisectlor Sevelout 534 462 NISW C OFF 72 0-1 l-s Diretwr of FisaKe ad 7lsing; E[dratioal Adviser - TOTlEI

UiJSzrectfr,F A P M.UIP t KIF 6/3l5 12/85 6 nths O-T I-S TOIETE(ii)Edcatio" Adviser NWO. 6 IIF 6/85 6/87 2 yrs 0-l I-S TlOtEN

Custons Controller USA1 C tUSTNS 0 .. .. 0-l I-S Government postCAllUS (31 tlo P CAIICAS 0 . .. 0-l 0 total regional inpt ECM; Advice or abisistnatioeEconeist/CPU 57 57 53105I-F B ifP 0 3/IS 9/31 3 p's 0-I 1-S Provided by Britissh &owrbout nder O1 fellsipsStatistici4 289 289 CFTC 6 UF-SI 0 12/85 12/37 2 irs 0-1 l-SFiKltal Naltorieg 270 270 ISP 6 ilf 0 11/7 12/37 1 ir 0-T I-S Fintcial Nhaeot A ConttolEC? - Nn er tlaing pilot roj. 20 20 CIM OF? 0 6W35 6/36 12 atks N-S 0 1 Cel sitt to assess aspou needs ad arailability

Pgulic Safety (ft)

Coastpard (Royal No,i Il 111 6 I STJ P F 0 .. .. .. 0-T I Ibree offi ers isKldin Conmanderpre-feasibiliti ad desip of shore lfailities; capital Cost US9,U7

Sorce: ornet of St. Vincent and Ike Breoadioes, PM

ate of WIP/eECS field sissimn: A41, 1997

SAINt VINCIHI AND TIH CIEAUDIES IECHIICA COOPEATION pOUiUE 19B6 - 1990

LIST OF PSOPOSED IECNIIAl COOPUAlII IIOU41JUES, Fy 86/87

(ECt 000) (1) bate of proposed disbursenet(2) Ste of termination or tersinal disburseat(3) km Approved (IAPP)/lo le Approathed 1116A1

ew Approached (1CAI/Source binbom ISUf)/Project esip Stagel(PS)

141 Project Eloted (P-)/tnstitalonal Suport 11-SI/lraining IT)Other ()/ifrd Pipeline IPI/Sofl Pipeline SP)

tOTAl. EITENI FINIICINI LOCAL FINAUCII IUIAIUON ANALYSISIlTLE/SIUJECI I/A --------------------------------------- STATUS CUASSI- COIIIIIS POJECI

COSI AltIUfl SO8C 10U/ EXICU116 IAWA M POU OSED PSOPOSER DUUIION FICAIION P111ECUII AGENCT STATII)l CONLFE- (I/TS) (3) (4) COeE1/S TIONW2 USE

Naugnuent Teas -OH17 1161 1161 SI1 C IFt 0 1217 12/90 3 yrs IN approved P-E,HP 4 unateta - Agriculturist,P. tanngFr,(nginer,Accoutat I euip. SIVA8651Orage Hill barel kvelopwent 50 500 EW,tCIS,OAS C SF1 0 1988 19" 2 its EEC/CID pproched P-E,1 Isetttlemt/redevel. programe tr o01Sesign/Supervision Ids. S(VAGIIArit. Plapin Policies A Prog. 532 532 tWSP 6 RIlA 0 1987 1991 5 irs UW approved Addresses acute shortage resource persone MIA STIAUI?(ilAgriculural Planr tWI/FAO S IIU 0 AP 2 yrs FpO presented C.Vls l-$,HP Awaiting 6OSTV approval of FAO cardidate - FPA execated SIYA6113linmstoui Fisheries Project JICA S IIIA/rC t2/1 12/89 1 yr JICA approved project P-E? Japan/ST.V bilateral ussist fisheries sector Const./Supervision 51A1513Forestry Imaeet A Cons. Ws 3885 CI1A C NlA . 191 1992 4/S prs CA appwoved P-E,H1 1IN CIb Project - 3/A I EquipNenl STASISFeedr lds,l Study 202 CM I NIIIA/IICII 1999 1989 1 yr C1E to be awppoaed P-S Part of Ongoing CH Feeder Rd Progae SIVA61UI4Structual Adjustent trogrone CM/OAS C lFP/AIIIA 1987 199 3 yrs CUE/USb approached 0 Crop d.land use/soil aaget; lotal EC512,500 OAS initiated SYVASA?HetaNization Study, 11 S ISA Short Iern Ser mka Harvesting, packaging and containerization SVAU6Uisaster Fd Schme, SU; (l) CM GL Ct N 19i8 I Ir CU approkced C Titiully for ban growers aginst mind/rain SnYA6c7NWod for Enrgy 400 400 Fa/OMs C 11111 . I yr FU approaced P-1 Itrsefies for charctl produrtion ad fueliowdOAS has tureani eg. SIVABFloriculture Ikelopment 210 270 po & NI 0 .e 3 rs FUa wroacbed P-1,SP Fortabtion mission Aug. 1986.CSiV *nv pursue ith private sector SIV1A9Fertilizer and Soil Testing tab FpA G 1111 0 2 yrs Fpa to he awppoached OS.? To determine suitable crops for saill fammers STYACUIBNarketing of no-traditional niops WNIII11 C IIA 0 .. .. 2 yrs Source memomun P-1 Prot tion Harketing/Post Harvest lechnology SIV1116Vetiny Traiie tWp S 1TI 0 .. .. 2 irs Mt to he awproaced I Financig mkler VWP 1ainanal Disease Control ST1tlC17Turtle ad lobster Htchery MMUII 6 RItA 0 ,. .. SOurce km P-S Antig a Utilizrin FAI resources for sisaliar tobster project SIVYCIISFisheries teelop t ProjeEt 2350 2310 CIIA S 11111 .. s 8/92 4 irs CIA approved P-1,1 Supervision, Fraiming,lesign.Part of SION Fisheries D".Project SIYAC120Anti - Erosion lleasures Sl @t Fpa 6 11II 0 1986 4 uths Fpa to be approached P-1 ERedce incid e of erosion on steep road side cultivated slopes SlT6CI2tAssistte in Slpghter Houses FUa 6 HTIA 0 1988/89 Project design stage P- Iksign/1/A for tinstrial scale slughter hoseswse in Video in Former Traioingli) 1080 1080 FO/tED 6 NIAI/CACON 0 1988 CASICON SuPport I Finacin frno l1 Rev. IPTwgading audio-visual Eit. services

Ind sirr 410|1

Irighton Sewing Project . SAID C OKEC O 0 2 yrs USAID to be approathed 6 mto tonsultanw in production a urineig of apons, etc SIYIIINoerniaation of Agro. tab 540 540 UNIDO 6 IIA . 1988 1990 2 yrs W16O to he akpproaced 0 froposal beiag developed UIIP' is leg. proj.UIS1O identifyig sources SMtUM2Small Enterprise Assistame II) 2,.I.E) USAlID 6 ILl 0 3/86 2/91 5 yrs No ST.V proj yet P-M total costil inti. apital provision. Projeits Sl1Y not determined SIVIU3kesign - 9iond Insl. Estate tots 1000 CIUA 6 NT IA 0 0/00 8/92 4 irs CIU approved P-l,U kStiled lesign/Spnvision.Part of large SO project STYIN11

SMill VIEl $ IIE CIIES lEOCIIiCAL COPE 1111 m IEM 19 - 19

LISt if now TEciL CWFUMWTJU 116 . FT _ AIl?

(ECrm'l III ht ot propowsd disborseget121 late of tersiuti r wtrsiul distiortewt

(cutl (31 hkr dpne (Willie k Ipproled (I101/Dw Awrachd (MKM)JSMc* lsl_o ISII/Project kosai see(nS)

141 project bbidd (11-/lostitotausal 5 Wrt (1-s)/lralalms (11other (al/Marid pipulue /ISoft t fpelae Is?)

TOfU. EXIEMI FINXU LKU FIUENS 19Ulltil AIAlISISIILE/iJJECI f/ ----------------- -A---------------------------------------------------- STAnDS CLASSI- COIINTS "Mlt

COSI WWI MM LIA ENECIXII MMT M M PEW 5 11N1UII FICATINI PWFUE

GlUN AMEYt 5Udyll) min- IIIIS) (31 14) CAE

ISIE ~ ~ ~ ~ ~ ~ ~~I ,IIC, i

Isstzitttiol Strethe i"EgCD C15/Elf C CEl. I ny EMFJ/CI prwoKed i-S fit. of iadsstrial deelosut ad fare arownest otficers 5VE56Estab. tf lrdde gait C IIIU 1-2 nis maw 1-S Oe epwrt to establish Irads git VSIIUI

leuuisa I(TII

kiretc of lourise CFTC hC IIIC 2 vrs CFTC to be apaclthdd I-S lise positias SIVTIS

Lea Atrisr-lartie Pail sI.5isl. 111111111111 C *C . I Ir Sce DANe 1-5 sItS 2

Ibitim Pail m t UK r 4u 1iC wSace Wea I-S habmat & labii, 5117163

gixptet rteshue he. Std IU Cmk I IIC . .. . .tI be Wproaced P-1 lo hteissr. feasibilit of Crvis ship tei thasg/wishe facilities SIVI5 O

xiein. inrry in)

hts_lt Assist - arry h I ,f56 ,.175 Cm A/ 3 yis CM Wproacd ma t uLsalit ey A tiuiag to se polid coepay Sl51l

frasortatim (rPt)

Cosal Naw - CESCO Ull. O4111 S CESO 9151 IM9D 2 irs kmew _se I-S Mageest at Ide. Stage SiTvl

Estb. of lawd autest e bait C m 2 irs kmw _lso I-S liOW to Prod.afirastructure lhab. Pioject (USAID) Siviti

Feeder ads IV Stdy 203 203 CM C EU/lNINA iO 1969 1 yr Cl apached P-I Eeiewring desip for feeder roas Sf112lot. Airport klput Stbb 675 675 CI/IlD S Km I8/h' 190 I yr Cm awpoachd P- CIm taesces S0D ot cost of pre-teasability study SiVi3

Cesultucy/lreaismg - CESCD . . 1A S CtlD/SD .. 08/IS Serte 1ak I lwpo jostitetioa cacity saw tmiot. plojects SIFleU

Air lutes ligts 2N 20 VWI/SIAS C IIIC 19 190 1 Nth aWproad 0 ElA is coatact math 1*1* SlWIS

Conicatimos Ica)

Guual laa, laid Statils 321 321 CFIC &C1 19NMl 1990 2 prs CfC awpr N-S,I kcastly ettablitshd as a statulory bad, SlICIt

ldie Fregsy Eppiser 1o lfo CF/I/USP S NM CIM `19 1 ir kms to be aWroae I-S N flositoring Statiui.ratt proposal beq sva*svd tI CUSI VWI2

lastitbtiosal Sbtrstt a lelt . . UlSt C EUCI 2/19S 2/A 2 is Vl awprod I-S Fleparotrc a.ssis. sissios July lY 1T.@ 1N t tse I/8S si1m

SAINT VINCENT lii IAND CENIIIES ICNIICAL COOPUTWi01 P1 1906 - 1990

LSI OF P1M C ITEhICAl C187EUTION PIO&IAIES, Fy 86187

fECtblDO) 11 ate ofl prposed disbursent12) lte of teraimati or tet tual distburseut

(cut) (33 1 ue Appwoved 1AIP)ta1 e Apr oaeKd ltIM/kwt Apowew lO/Sarce Won (301Project lasip StgullS)

(4) trejct klated (P-10/lstitatzoual Sprt (1-5)/Iratia (11Other oI/lard Pipelia1 (P)/Soft Piplime (SP)

fulAt EkTESL FINWCINB LOCAL FIMEIS 1* ll10 ANLYSISFIRE/SUJECI l/A ------------------------------------------------------------------------- SAIuS CLASSI- COIKNIS "UECI

COSI AM SW8tE LQAII/ EXEWUTIl AI "WM S 11"MlN1 flCAtlat Uf it EtAII Mfllt SlairlI CONFtE- (NItlS) (3) (41 COKL/6 11111117 11111

Euf 9? (EllY)

Safety Adviser,VJIEC 80 go _Il S VItEIC ASL 3 otis hekw sam 0 Cue instry safety adviser sltm2echuacal Eogier. VIEC 210 210 tIINOIN t VINLEC I wr No nbeo 1-S oe adviser at Hlechaical Naaatemace *iaisie SItEW 4

later SpIv p (lAS) SmeewlS1ll

[lst. Streateuiug of umA 6 CIA 19 19M 2 Irs wer oun -S hte Ndreloist, Ge civil euige and one christ SITuWSI(i)l_ , CISa 16S 163 PM/1110 t CUA 19 190 2 yrs PAMI to e awpprced I-S Eztusim of Nue a STVAS?liifiucial Cautrolle, CflC t tU IM Im 2 prs CFrC to e awproacd I-S SruASs(iiiOIbdrotogst 105S0 WMlO t CMA 1i 99 2 vrs Sures _iuma I-S SIV(iv)Civil Eugtiuee am CPA t . 19 1"11 2 Irs Soute. lbk I-S Slh3SS(4)t0 ist hNW S t t 19 c1 109 t Ir Sauce bhkoo I-S S5IIS&Vater l aces Study l.00 1,500 WM11 t Cm 19 196 6 tis 0 LuWters PrWne fr later Supply ad Senw S13157Polistin later Cutcet Stdy t6 CIA Same mliu S STVIlSSlydrvololeal abt Collectim 1c cm t Suuce abem I SIN"musius - la Ara abter 8er. 1000 tID CIUI CA . 6/16 692 4 yrs CItA awro P-I.l ktailed lesip/servision Stt310

Colay liter Cn. m 91 CIt S CIA 1 10 2 YrS CII Wrachd P-I.* lesip/jervisim.part til o projet SIVASII

ItiseltI us (1E51

radjies lalti-rwose Projert t/ t .IICII apwrochkd P-1 ksih md cJ ti of oarie strwtte ad othr rA Slt1S1Costructib Iaa t 86 86 NW 6 1 3 . I/t7 6/9 2 YrS t to be appoacdd I-S Eutasin of assigut of a VoilUrlm Sl10ESS

USill VICIf lliD IIIE GREWIIIES lECHIICAL COOFEIATIOI P1OG91 19Eth - 199D

LIST Of Plt18SED TECHlICAL COO¶RAIIOW PRQICIUItS, Fr 86/87

ItCStOOD (1) Wte of proposed disbursemet(2) ate of terminatios or tersinal disturset

(cut) 13) lear Aproved tIAPPI/lo le Approached (YA)/lmr Approached IIAPCNI/Source t tilu m (3S4)/Project lesig Sige(pISI

14) Project Related (P-l)/tlstitutional Support (I-S)/iraiimag (T1Othtt (OSI/ard Pipelise (P)I/Soft Pipelite (St)

TOTAL EXIERS FINAIICIN& LOCAL FIWN INC WUIIMON ANALYSIS

lIILE/SUIJECT 1/1A -------- ------------------------------------ SIATUS CLASSI- CliENIS PRoJECT

cosI 1 SOlitCE tOAn/ EXlCU1IIB "M POSED FmED Io UIaIOlt FICATION PRFILE

BRAN! AGENCY STAITfI) CStPE- (ITIS) (3) 1(1 COKE

tL/B152 11111113f

SOCIAL SERVICES

Educatios and Iraining (EDT)---- ---- ---- -- . ..... .

Iproveset of Science Eductation AS G OE 1907/8 1988/9 1 yr OAS approached 0 Preparatios of teachi"g materials for seconedry schools SIVEIII

Estab. of Resource Centre 64 42 tEESCO 6 IPF 1998 ISS3 2 yrs IESCO approached P-1 At teachers Colltee SIVEITS

Istegration of Post-Set. idur. Ulll 6 IIOF 1/2 yr lser unbnown 0 6th form, Teachers College, IectMical Colleg, School of Nursisg SIJl14

ccounting Irsnag. Port Authority CIDIA G KtIC.N 1987 1989 2 Irs CIU to he approached 1 3 years trainisg at CASt Jmmica SIVEDlS

Clate Valley Training project 54 54 B "Co 2 rs UlFEtt IIU Carpetry, masosry, piutiag, elec. ongisaeig for --oe SWfD016

training in Psychiattic tbrsing G KOH K9-1 ntts I yr kloer ulom I 9 sosths diploma course in the region for 2 nurses ShllfI?

irsiog in Cultural Adinistration OAS B WiltC . 9B8 IS199 2 yrs on to he approoched I verseas A is-service traising to ctrengthen the Cultural urit STI t18

Radio E()catiov Ulit 227 116 9ItESCO C WIE 1988 1999 1 yr t8ESCO appreoched 0 Assistasce in prodbctios of programm for broadcasting ShElI9

AAiIt Literacy Smrey L1ESCOIIICEIf 6 OE 19S ISS 4 Itts WNESCO/UICEF ISA 0 fo assstss adult literacy STIV"IO

tech./Yo. Edtcation 1 649 640 tI 6 NE 1987 1989 2 yrs tlW appoached C lu phmas of the sub-regiosal project SlffDIII

ler./YVoc. Education 11 6tie0 6000 UI/C/MUC B 1 191OE 1992 4 yrs Prorne aproved P-1 SIffOT12

haim./rpair [doe. evip.Centrve UlWO - .. Soree tUhoar 0 SIH1TIS

Curr. Iprovest -Loa Ser. Srh 5953 6 WOE RN. US to he aproached O STlfDi

loproc. Science W.c - Sec. Sh . 432 432 OAS B OE OAS approval I STKEITIS

Study - Integratios Post - Sec.Srh UllESCO B WIOf t9tESCO awppaced P-I SlYFDIri

tech/Vet. Program(Educationl NIGER6IA G WOE .. Nigeria approved I SIVEl I17

lraining cultral esagement O,S 6 mitC I93 1990 2 irs OAS to be approached I STlf118

Popolation, Ialth, Nutrition IPH41I

Pathologist 11) .. PAII/IO 6 "11H ASAP 2/3 yr t O/fO approached i-S St. Vincent, St. Lucia t Domsnica ST1VI2

Itedicl Statistics UtJNtNIE B I'M . ASMP 213 yr Boo-s asrann i-S Iota collection, updating of statistircs, foamteriretccn STIYT1S

Legal Adviser - Pobi Health Akl PAlWt G tNI 19 1989 I yr floor askno i-S Irafting of pulic health acts arid nuising ats STYPNIE

Waistentnce of Hospital Equip '13 513 PAtO G WIt1 19 190 2 yrs Doot tnkhnoin I-S Iantesace of mechainal ant elertrical equapent and facilities STYPl1S

Traisisg to PsYChiatric Ntiw ng t. 5 UlIFER 6 S I"H I993 19990 2 yrs Doer unknow I to staff Ntael bospital STYPUtc.

Senior ifedical Adviser UEiWlN" G iNO ISBB 1990 2 yrs Door unbon I-S Chief Nedical Adviser in place 5101*12

Water Resource Wnagesent IIRI 1/1 uIIIA 1988 199O 2 yrs W to be approached o Project idea stage Jegioal advirM to deteimine lb interest ST1HlB

SAINT VINICENI A1 INE 6KNEIWS IECHNICAL COEUTION PFOG1411 19t6 - 1990

IST of ?PIMPSEI TEOICAl COOPERATIION IWES. F 66/E17

(ECtl0W0) 1() late of Proposed disursnet(2) Sate Of terMINAtaN Or ter1inal distursemt

(coatl (3 kwer Aproed (WI oe k Aprwo (TIAI/wr Approached Aat)/Sontre nbon ISV/

Project Oesia siagel pis)(4) Project Related (P-R)/Insteutliail Svppt (l-S0/lraisin 11

Other (01/Nard Pipeline (WI/Soft Pipeline (SPI

T1TAL EltEUIIH FINAlING LOCAL FINACING UIII111N ANLTSISTITLE/StUUECT /A ------------------------------------------ STATUS CLASSI- COIENINS PUJECTCOSI AMU SUCE LOA/ EXECUTING AINT PROPOSED PROPOSED ERAIIO FICA6111 Pk0fltE

4llAN A6EICY SARTflI COWlPE- (N/ISn) (3 (4) OEWL/G 1Ju21 NMI

oasiug 6 Comtiyt Servirps IHCS)

Hoosing Survey 162 162 tRICS C tICt 19 1131 6 mk tRClS approached Survey to detersiue housig rnoirees STICSIYouth Affairs Adviser 122 122 CFIC 6 IltCt 198B 199S 6 Eths CFTC approached Orgaizatin ef work prng for youth dept. SIVISIResearch - lou Cost Mousing Conn 432 432 UICUS/FAC C MINC 11 19S0 2 yrs UNCNS/FUt awroched loth FA6/IClNS have epressWd inlfiest Simts?Clare valley No's training Proj. S S4 1NIFEN 6 tICC 13 2990 2 Irs lFEIN to he aroached Frain e prodection tourist iteus.Project idea stawe SIVNSlrlgitm Seissn Project .. .. tENIFEN C KlCt .. 113 Im I r UIIFEI to be awproched Train snse prodtion tourist tess.Pfroject idea ste SimIESS

Niscellaes (ESS)

Violee A Crie Against Non (R ECUAC 6 tCt 1117 1167 6 uth ECU;, to be wPreoelac kserch ao currett situation, lepl aspect a training nes SIHISSITo4r_ogt of Uo in Noh Forve 506 206 saish Govt C KIdS lO7 2910 3 trs Coerdinatd by SICEF Training of 4K me in he ecooics n hadicraft S1552Cntre fwr Adolescent Nothrs 213 213 kelci i ovt C 6 ICI 1"7 I9 3 prs Cordiuted by INIcEF FLE, dastare, training in food Production S prtrwatin STISS]

GEIIAU PtlIC SERNICES

Adainistration a Piming (AN)

Assistae is Pln lmpeIentation 1445 I,445 U W/ITCD 6 ITIA ASAP 2 Irs WP aproved pdatin of 3 year Beling Pa and an Strentheni of cn SIVANI(iiA iceltural Planr - ltitlC 6 NIIA 19t 2 yrs e arewliMlArchitect . WIP/DiCe C FP 1911 2 irs (W awrovedBeclssificatian of M. Selvice CINAICABICA 6 ne ASP Short-terulour _r Restructurig of Public Sftvice to irm etficitc SIYANISStretgthning f IBdt A Poli 'SAIU S NFP 110? I9 2 Irs lbunr unb Deuty Sirector (FIawel ot Ninistip of Finace an Plain SIVAStatisticia IC 6 IFP . 17 19107 2 irs CFtC aProched Line position S NsPrintin Nnget Avisor . 1 6 .. 1917 1987 6 utks tIP to be approache Io develop an iplont orga. stroctnre in Priantery SIVnWField Auiting. nand kvenue (RI . . SAI C FP t1111 IM 6 ots USAID to be aproaced on field auiter; trainin STYASt?No PIiming . ItO/tSW 6 M 19 1 SIVANEast. Caribbean Naaolrt Prof. Well) CIA C Pft Ielassifiaction of Public Service to be fined by ECNP SIVAN

Source: Go ront of Saint Vinorot nmd the freadines, UlW/tICSStle of hh/OECS Field Ni'sion: Loust 19

- 35 -

ANNEX III

ST. VINCENT AND THE GRENADINES

ECONOMIC PROJECTIONS

(1987-95)

This Annex contains the economic projections discussed inChapter V of the report. Scenario 1 refers to the High GDP growth,while scenario 2 refers to the low GDP growth assumptions.

- 36 -

Pg loteSCENARIO 1

ST. VINCENT I THE 6RENADINES - ACTUAL I PROJECTED NATIONAL ACCOUNTS, 1986-1995IN CONSTANT 1986 PRICES

(ECI million)

Actual PROJECTED

1986 1987 1988 1985 1990 1991 1992 1993 1994 1995

6ross domestic product 317.00 321.02 330.01 343.75 358.85 373.35 395.14 396.22 407.27 418.68Terms of trade adjustment 0.00 3.95 6.17 9.25 11.78 13.91 15.42 16.45 17.11 16.306ross doeestic income 317.00 324.87 336.17 353.01 370.63 387.26 400.57 412.67 424.38 434.98Imports of GNFS 262.99 296.78 310.36 334.05 322.67 334.32 346.99 359.83 373.03 386.57Exports (capacity to import) -225.18 -237.59 -251.43 -268.25 -283.94 -297.96 -312.15 -325.59 -339.01 -350.33Resource gap 37.80 49.19 58.92 65.80 38.73 36.37 34.84 34.24 34.02 36.24Total resources 354.80 374.06 395.10 418.80 409.37 423.63 435.41 446.91 458.40 471.22

Consumption 247.50 255.88 273.91 298.49 290.95 311.62 319.86 328.05 336.22 345.61Investment 107.30 118.18 121.19 120.31 118.42 112.01 115.54 118.87 122.18 125.60Private 66.20 59.50 62.50 64.74 76.83 81.90 84.48 86.91 89.34 91.846overnment 41.10 58.68 58.69 55.58 41.60 30.11 31.06 31.95 32.84 33.766ross domestic savings 69.50 68.99 62.27 54.52 79.69 75.64 80.70 84.63 88.16 89.36Private 53.30 52.58 45.40 36.95 61.35 56.56 61.02 64.38 67.35 67.976overnment 16.20 16.41 16.96 17.57 18.34 19.08 19.68 20.25 20.81 21.40Net factor payments -9.46 -9.29 -9.80 -10.18 -11.02 -11.20 -11.09 -10.93 -10.75 -10.55Transfers 39.19 38.80 39.08 39.09 39.59 39.56 39.36 38.98 38.51 37.95

6ross national savings 99.23 98.50 91.54 83.42 108.26 104.00 108.98 112.67 115.92 116.776ross national product 346.73 350.53 359.28 372.66 387.42 401.71 413.42 424.27 435.03 446.086ross national income 346.73 354.38 365.45 381.91 399.20 415.62 428.84 440.72 452.14 462.38

6DP deflator 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.33GOP in current prices 317.00 330.97 344.66 363.69 384.59 408.14 43i.55 457.28 485.31 516.37

6rovth ratesfZ)-Constant

GOP e.p. 1.27 2.80 4.17 4.39 4.04 3.16 2.88 2.79 2.806DP f.c. 0.85 2.80 4.17 4.39 4.04 3.16 2.88 2.79 2.80Investeent 10.14 2.55 -0.72 -1.57 -5.42 3.16 2.88 2.79 2.80Consumption 3.39 7.05 8.97 -2.53 7.11 2.64 2.56 2.49 2.79Agriculture -2.50 5.00 6.00 7.00 5.00 5.00 3.50 3.00 3.00Nanufacturing 2.00 2.00 3.00 3.00 3.00 5.00 5.00 5.00 5.006overnment 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50Services 2.00 3.00 5.00 5.00 5.00 3.00 3.00 3.00 3.00

Other Indicators

Investment/GDY 33.85 36.81 36.72 35.00 33.00 30.00 30.00 30.00 30.00 30.006DS/6DY 21.92 21.49 18.87 15.86 22.21 20.26 20.95 21.36 21.65 21.346NS/6DY 31.30 30.68 27.74 24.27 30.17 27.86 28.30 28.44 28.46 27.89Consumption/6DY 78.08 79.71 83.00 86.83 81.08 83.47 83.05 82.79 82.55 82.55

Source: Hission estioates.October,1987

- 37 -

Pg 20ofSCENARIO I

ST. VINCENT I THE GRENADINES- ACTUAL & PROJECTED BALANCE OF PAYNENTS,1986-1995

(USS million)

Actual PROJECTED

1986 1987 1988 1989 199O 1991 1992 1993 1994 1995

Exports of 6NFS 83.4 90.9 97.7 105.3 113.0 120.8 129.5 139.9 149.1 159.2Ieports of 6NFS 97.4 109.8 120.6 131.1 128.4 135.5 144.0 153.5 164.1 175.7Resource Balance -14.0 -18.8 -22.9 -25.8 -15.4 -14.7 -14.5 -14.6 -15.0 -16.5

Net current transfers 14.5 14.8 15.1 15.3 15.7 16.0 16.3 16.6 17.0 17.3Net factor payments -3.5 -3.5 -3.8 -4.0 -4.4 -4.5 -4.6 -4.7 -4.7 -4.8Interest -1.3 -1.3 -1.5 -1.7 -2.0 -2.1 -2.1 -2.1 -2.2 -2.2Other NFS -2.2 -2.2 -2.3 -2.3 -2.4 -2.4 -2.5 -2.5 -2.6 -2.6

Current account balance -3.0 -7.6 -11.6 -14.5 -4.1 -3.3 -2.7 -2.6 -2.7 -4.0

Direct foreign investment 3.0 4.0 4.5 5.0 5.0 5.0 5.0 5.0 5.0 5.0Grants 8.6 8.2 9.1 7.5 7.4 6.3 6.0 5.5 5.3 5.0n&LT public debt (net) 5.7 10.0 6.8 6.7 3.7 4.0 2.9 3.2 3.6 3.8Disbursement 7.1 11.6 8.9 8.7 6.2 6.7 5.7 6.0 6.5 6.7Asortization 1.4 1.6 2.1 2.0 2.5 2.7 2.8 2.8 2.9 2.9Commercial Banks -5.8 -4.0 -2.0 -1.0 -1.0 -1.0 0.0 0.0 0.0 0.0Errors & omissions 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0Overall Balance 11.9 10.6 6.8 3.7 11.0 11.0 11.2 11.1 11.2 9.8

Change in reserves(- = increase) 1.3 3.8 3.1 -7.3 0.0 -0.2 0.2 -0.2 1.4

Memo:

Reserve level as monthsof imports 0.0 1.2 0.7 0.3 1.0 1.0 0.9 0.9 0.8 0.7Debt service ratio as X ofexports of 6NFS 3.2 3.7 3.5 4.0 4.0 3.8 3.6 3.4 3.2 3.1Debt service as Z of currentrevenue 2.3 2.5 3.0 2.9 3.4 3.4 3.4 3.3 3.3 3.2

Source: Mission estimates.October,1987

- 38 - Pg 30fBSCENARIO I

ST. VIKENT I THE GRENADINES - ENTEUMAL TRADE PROJECTIOS, 1987-1995

--- _ ---_ --- ---_ -_----_ ---_-. _- --_---- ---_--- ---- ----_-- ---_-_- ---- --- ---- --- ---_---

kAtual PROJECTED

1986 1987 1M 1989 199 199 1992 19W3 1994 1995! ~~~~---------------- -------------------------------------------------------- ----__ ----------- _---

Exports Growth Rates(Z-Constant

Bananas -5.00 2.00 3.00 3.00 2.00 2.00 2.00 2.00 1.00Flour 2.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00Arrowroot -2.00 -1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00S e.t Potatoes 5.00 3.00 2.00 2.00 3.00 2.00 2.00 1.00 1.00Plantains 9.00 6.00 4.00 3.00 2.00 2.00 2.00 2.00 2.00Eddoes & dasheens 2.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00Coconut 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 2.00Other 8.00 9.00 10.00 8.00 6.00 6.00 5.00 5.00 5.00Re-exports 20.00 15.00 10.00 6.00 4.00 3.00 3.00 3.00 3.00Total Merchandise Exports 2.16 4.29 4.71 3.92 3.08 3.03 2.72 2.67 2.42Non-Factor Services 5.00 5.00 6.00 7.00 7.00 8.00 8.00 8.00 8.00Total Exports 6NFS 2.82 4.46 5.02 4.67 4.05 4.30 4.12 4.13 4.01

Price Index (1986 U 100)ananas 100.00 104.49 109.98 113.37 117.10 122.16 127.22 132.38 137.44 139.35Flour 100.00 113.64 127.29 140.93 153.54 163.90 174.27 194.63 194.99 205.2iArrowroot 100.00 102.00 104.04 106.12 108.24 110.41 112.62 114.87 117.17 119.51Sweet Potatoes 100.00 111.43 115.77 120.11 127.46 131.44 135.43 139.42 143.40 147.30Plantains 100.00 111.43 115.77 120.11 127.46 131.44 135.43 139.42 143.40 147.30Eddoes I dasheens 100.00 111.43 112.70 113.90 114.50 116.20 117.30 118.30 119.20 120.20Coconut 100.00 111.43 112.70 120.11 127.46 131.44 135.43 139.42 143.40 147.30Other 100.00 103.10 104.44 105.90 107.17 109.32 112.05 115.41 119.16 123.33Re-exports 100.00 103.10 104.44 105.90 107.17 109.32 112.05 115.41 119.16 123.33Total Merchandise Exports 100.00 106.97 110.52 113.90 117.25 120.83 124.50 128.43 132.46 135.92Non-Factor Services 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.33Total Exports 6NFS 100.00 106.05 109.06 111.93 114.75 117.90 121.21 124.87 128.69 132.14

Imports in 1996 Prices(USSm)Fuel 6.40 6.40 6.46 6.59 6.73 6.93 7.20 7.49 7.79 8.03Chesicals 10.40 10.50 10.61 10.82 11.15 11.48 11.94 12.30 12.54 12.79Food and beverages 18.30 19.48 18.67 19.85 19.04 19.23 19.43 19.62 19.82 20.01Nanufactured Products 29.80 32.18 33.79 34.81 35.85 37.29 38.79 40.33 41.94 43.62Consumer goods 19.40 25.22 31.53 37.93 32.16 33.76 35.45 37.22 39.09 41.04gther imports 3.00 3.14 3.28 3.42 3.58 3.74 3.91 4.08 4.33 4.59kerchandise imports 87.30 95.93 104.34 112.33 109.50 112.43 116.70 121.04 125.51 130.08Non-factor services 10.10 10.18 10.50 11.27 10.89 11.27 11.69 1?.09 12.52 12.95Total imports 97.40 106.11 114.83 123.60 119.39 123.70 128.39 133.14 138.02 143.03

Import Growth Rates-ConstantMerchandise imports 9.98 8.77 7.66 -3.41 3.62 3.80 3.72 3.69 3.64Non-factor services 0.83 3.06 7.34 -3.34 3.49 3.64 3.53 3.49 3.48Total imports 9.94 9.22 7.63 -3.40 3.61 3.79 3.70 3.67 3.63

Teres of Trade Indices

Export price index 100.00 106.97 110.52 113.90 117.25 120.83 124.50 128.43 132.46 135.82Import price index 100.00 103.49 105.07 106.12 107.58 109.59 112.16 115.31 118.83 122.79Terms of trade index 100.00 103.37 105.19 107.33 108.99 110.25 111.00 111.39 111.47 110.62

Source: Mission estimates.Octaber,1987

- 39 - Pg 4of8

SCENARIO 1ST. VINCENT & THE 6RENADINES - ACTUAL & PROJECTED PUBLIC SECTOR FINANCES.1986-1995

IN CONSTANT 1986 PRICES(EC$ million)

Actual PROJECTED

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Total Revenues & 6rants 143.10 138.92 144.84 146.12 151.83 154.80 158.79 162.07 166.12 170.14

Current Revenue 115.40 117.44 121.32 126.98 133.19 139.23 144.33 149.20 154.11 159.19

Capital Grant 27.70 21.47 23.53 19.14 18.64 15.56 14.46 12.87 12.01 10.95

TOtal Expenditures 148.50 150.01 153.08 154.42 153.01 15'.46 154.60 152.66 151.86 156.83

Current Expenditures 89.70 91.33 94.39 98.84 103.73 108.49 112.51 116.37 120.25 124.28

Capital Expenditures 58.80 58.68 58.69 55.58 49.28 42.97 42.09 36.29 31.61 32.55

Public Savings 25.70 26.11 26.93 28.13 29.46 30.75 31.82 32.84 34.86 34.91

Of which Central Govt. 16.10 19.05 21.99 24.86 24.40 25.83 26.95 27.63 27.72 26.96

Public Enterp. 5.80 5.96 6.21 6.56 6.94 7.31 7.65 7.97 8.31 8.65

Overall Balance -5.40 -11.10 -8.24 -8.30 -1.18 3.34 4.18 9.41 14.25 13.31

Of which Central Govt. 2.20 -2.49 1.47 3.86 7.32 7.19 9.17 15.34 20.18 18.45

Public Enterp. -10.60 -9.71 -8.44 -8.88 -6.62 -1.47 -2.21 -3.17 -3.75 -4.44

Financing 5.40 11.10 8.24 8.30 1.18 -3.34 -4.18 -9.41 -14.25 -13.31

External 13.30 27.00 18.36 18.09 9.99 10.80 7.95 8.62 9.81 10.20

Domestic -7.90 -15.90 -10.12 -9.79 -8.81 -14.14 -12.14 -18.03 -24.07 -23.51

As Percentage Of GDP

Public Savings 8.11 8.13 8.16 8.18 8.21 8.24 8.26 8.29 8.31 8.34

Central Govt 5.08 5.93 6.66 7.23 6.80 6.92 7.00 6.97 6.81 6.44

Public Enterp. 1.83 1.86 1.88 1.91 1.93 1.96 1.99 2.01 2.04 2.07

PS Overall Balance. -1.70 -3.46 -2.50 -2.42 -0.33 0.89 1.09 2.38 3.50 3.18

Central Govt. 0.69 -0.78 0.45 1.12 2.04 1.93 2.38 3.87 4.95 4.41

Public Enterp. -3.34 -3.03 -2.56 -2.58 -1.84 -0.39 -0.57 -0.80 -0.92 -1.06

PS Current Revenue 36.40 36.58 36.76 36.94 37.11 37.29 37.47 37.66 37.84 38.02

PS Current Expenditure 28.30 28.45 28.60 28.75 28.90 29.06 29.21 29.37 29.53 29.68

PS Capital Expenditure 18.55 18.28 17.79 16.17 13.73 11.51 10.93 9.16 7.76 7.77

Meso

6DP *.p.(Constant prices) 317.00 321.02 330.01 343.75 358.85 373.35 385.14 396.22 407.27 418.68

Source: Mission estimates.October,1987

- 40-

Pg Sof9SCENARIO 2

ST. VINCENT I THE GRENADINES - ACTUAL & PROJECTED NATIONAL ACCOUNTS,1986-1995IN CONSTANT 1986 PRICES

tECS *illion)

Actual PROJECTED

1986 1987 1988 1989 1990 1991 1992 1993 1994 19S

Gross domestic product 317.00 321.02 327.12 335.70 346.98 359.56 369.11 379.65 390.18 401.05Terms of trade adjustment 0.00 3.84 6.13 9.17 11.65 13.71 15.23 i6.22 16.95 16.02Gross domestic incose 317.00 324.86 333.24 344.87 358.63 373.27 384.34 395.87 407.03 417.08Imports of SNFS 262.98 284.16 303.15 325.39 341.28 329.95 341.10 352.12 363.39 375.09Exports (capacity to import) -225.18 -237.59 -251.10 -266.46 -280.62 -293.89 -307.59 -320.60 -333.71 -344.76Resource gap 37.80 46.58 52.04 58.93 60.66 36.05 33.51 31.53 29.67 30.33Total resources 354.80 371.44 385.29 403.90 419.29 409.32 417.85 427.40 436.70 447.40

Consumption 247.5U 253.26 264.10 286.30 304.79 301.45 307.12 313.50 319.65 327.09Investment 107.30 118.18 121.19 117.49 114.50 107.87 110.73 113.90 117.05 120.32Private 66.20 74.05 69.24 58.14 72.91 78.87 80.97 83.29 85.59 87.97Government 41.10 44.13 52.95 59.36 41.60 29.00 29.77 30.62 31.47 32.34Gross domestic savings 69.50 71.60 69.15 58.56 53.85 71.81 77.22 82.37 87.30 89.99Private 53.30 55.20 52.43 41.41 36.11 53.44 58.36 62.97 67.44 69.49Governeent 16.20 16.41 16.72 17.16 17.73 18.37 18.86 19.40 t9.94 20.50Net factor payments -9.46 -9.29 -9.55 -9.80 -10.04 -10.21 -10.12 -9.98 -9.82 -9.64Transfers 39.19 39.80 39.08 39.09 39.59 39.56 39.36 38.98 38.51 37.95

Gross national savings 99.23 101.11 98.67 87.85 83.40 101.16 106.47 111.37 116.08 118.30Gross national product 346.73 350.53 356.65 364.99 376.53 389.91 398.36 408.66 418.87 429.37Gross national income 346.73 354.37 362.77 374.16 388.18 402.61 413.59 424.87 435.72 445.39

GDP deflator 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.336DP in current prices 317.00 330.97 341.64 355.16 371.87 393.06 413.59 438.16 464.95 494.63

6rowth rates(Z)G_12 . .2 3 . 2 28 . 2

60P f.p. 1.27 1.90 2.62 3.36 3.63 2.66 2.96 2.77 2.796DP f.c. 0.85 1.90 2.62 3.36 3.63 2.66 2.86 2.77 2.79Investment 10.14 2.55 -3.05 -2.55 -5.79 2.66 2.86 2.77 2.79Consumption 2.33 4.28 8.41 6.46 -1.09 1.88 2.08 1.96 2.33Agriculture -2.50 3.00 4.00 5.00 3.00 3.00 3.50 3.00 3.00Manufacturing 2.00 2.00 2.00 2.00 3.00 4.00 5.00 5.00 5.006overneent 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50Services 2.00 2.00 3.00 4.00 5.00 3.00 3.00 3.00 3.00

Other Indicators

Investeent/6DY 33.85 36.81 37.05 35.00 33.00 30.00 30.00 30.00 30.00 30.00GDS/6DY 21.92 22.31 21.14 17.45 15.52 19.97 20.92 21.70 22.40 22.446NS/6DY 31.30 31.50 30.16 26.17 24.04 28.14 28.84 29.34 29.75 29.50Consueption/GDY 78.08 78.89 80.73 85.29 87.84 83.84 83.21 82.58 81.92 81.56

Source: Mission estimates.October,1987

- 41 -

Pg 6af 8

SCENARIO 2ST. VINCENT & THE GRENADINES- ACTUAL & PROJECTED BALANCE OF PAYMENTS,1986-1995

(US$ million)

Actual PROJECTED

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Exports of GNFS 83.4 90.9 97.6 104.6 111.6 119.1 127.6 136.8 146.8 156.7

Imports of GNFS 97.4 108.8 117.8 127.7 135.8 133.8 141.5 150.2 159.8 170.5

Resource Balance -14.0 -17.8 -20.2 -23.1 -24.1 -14.6 -13.9 -13.5 -13.0 -13.9

Net current transfers 14.5 14.8 15.1 15.3 15.7 16.0 16.3 16.6 17.0 17.3

Net factor payments -3.5 -3.5 -3.7 -3.8 -4.0 -4.1 -4.2 -4.3 -N.3 -4.4

Interest -1.3 -1.3 -1.4 -1.5 -1.6 -1.7 -1.7 -1.7 -1.8 -1.8

Other NFS -2.2 -2.2 -2.3 -2.3 -2.4 -2.4 -2.5 -2.5 -2.6 -2.6

Current account balance -3.0 -6.6 -8.8 -11.7 -12.4 -2.7 -1.8 -1.1 -0.4 -0.9

Direct foreign investment 3.0 4.0 4.5 5.0 5.0 5.0 5.0 5.0 5.0 5.0

Grants 8.6 8.2 9.1 7.5 7.4 6.3 6.0 5.5 5.3 5.0M&LT public debt (net) 5.7 6.9 6.8 9.0 4.5 4.0 2.9 3.2 3.6 3.8Disbursement 7.1 8.5 8.9 11.0 7.0 6.7 5.7 6.0 6.5 6.7Amortization 1.4 1.6 2.1 2.0 2.5 2.7 2.8 2.8 2.9 2.9

Commercial Banks -5.8 -4.0 -2.0 -1.0 -1.0 -1.0 0.0 0.0 0.0 0.0

Errors & omissions 3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Overall Balance 11.9 8.5 9.6 8.8 3.5 11.6 12.2 12.6 13.5 12.9

Change in reserves(- = increase) 3.4 -1.1 0.8 5.3 -8.1 -0.6 -0.5 -0.9 0.6

Memo:

Reserve level as monthsof imports 0.0 0.9 1.0 0.8 0.3 1.0 1.0 1.0 1.0 0.9

Debt aervice ratio as Z ofexports of 6NFS 3.2 3.6 3.3 3.7 3.7 3.5 3.3 3.1 3.0 2.9

Debt service as X of currentrevenue 2.3 2.5 2.9 2.8 3.2 3.3 3.2 3.2 3.1 3.1

Source: Mission estimates.October,1987

- 42 - Pg 7of8

SCENARIO 2ST. VINCENT i THE 6ENADINES - EXTERNAL TRADE PROJECTIONS,1986-1995

Actual PROJECTED

1986 1997 1M 1989 199O 1991 1992 1993 1994 1995

Exports Growth Ratesm(Z-Constant

Bananas -5.00 2.00 2.00 2.00 3.00 3.00 2.00 2.00 1.00Flour 2.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00Arrowroot -2.00 -1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00Sweet Potataes 5.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00Plantains 8.00 4.00 2.00 2.00 2.00 2.00 2.00 1.00 1.00Eddoes I dasheens 2.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00Coconut 6.00 5.00 4.00 3.00 3.00 3.00 3.00 3.00 2.00Other 8.30 9.00 9.00 7.00 5.00 5.00 5.00 5.00 5.00Re-exports 20.00 15.00 10.00 6.00 4.00 3.00 3.00 3.00 3.00Total Nerchandise Exports 2.16 4.13 3.96 3.18 2.92 2.94 2.60 2.61 2.37Non-Factor Services 5.00 5.00 6.00 7.00 7.00 8.00 8.00 8.00 8.00Total Exports 6NFS 2.82 4.34 4.45 4.11 3.87 4.17 4.05 4.11 3.99

Price Index (1986 : 100)Bananas 100.00 104.49 108.98 113.37 117.10 122.16 127.22 132.38 137.44 139.35Flour 100.00 113.64 127.29 140.93 153.54 163.90 174.27 194.63 194.99 205.27Arrowroot 100.00 102.00 104.04 106.12 108.24 110.41 112.62 114.97 117.17 119.51Sweet Potatoes 100.00 111.43 115.77 120.11 127.46 131.44 135.43 139.42 143.40 147.30Plantains 100.00 111.43 115.77 120.11 127.46 131.44 135.43 139.42 143.40 147.30Eddoes & dasheens 100.00 111.43 112.70 113.80 114.50 110.20 117.30 118.30 119.20 120.20Coconiut 100.00 111.43 112.70 120.11 127.46 131.U 135.43 139.42 143.40 147.30Other 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.33Re-exports 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.33Total Merchandise Exports 100.00 106.97 110.51 113.90 117.27 120.88 124.59 128.53 132.56 135.91Non-Factor Services 100.00 103.10 104.44 105.80 107.17 109.32 112.05 115.41 119.16 123.33Total Exports 6NS 100.00 106.05 109.05 111.93 114.74 117.89 121.23 124.88 128.70 132.15

Imports in 1986 Prices(US$m)Fuel 6.40 6.40 6.46 6.59 6.73 6.93 7.13 7.28 7.42 7.57Chemicals 10.40 10.50 10.61 10.82 11.15 11.48 11.94 12.30 12.54 12.79Food and beverages 18.30 18.48 18.67 18.95 19.04 19.23 19.43 19.62 19.82 20.01Manufactured Praducts 29.80 32.18 33.79 34.91 35.85 36.93 39.03 39.19 40.35 41.56Consuser goods 19.40 24.25 29.10 34.92 38.41 32.65 34.28 36.00 37.80 39.69Other imports 3.00 3.14 3.28 3.42 3.58 3.74 3.91 4.08 4.33 4.59herchandise imports 97.30 94.96 101.91 109.42 114.75 110.96 114.72 118.45 122.26 126.22Non-factor services 10.10 10.18 10.25 10.98 11.52 11.12 11.48 11.83 12.19 12.57Total imports 97.40 105.14 112.16 120.40 126.27 122.09 126.21 130.28 134.45 138.78

Import Growth Ratesherchandise imports 8.77 7.32 7.37 4.89 -3.31 3.40 3.25 3.21 3.24Non-factor services 0.83 0.69 7.04 4.93 -3.41 3.23 3.06 3.02 3.09Total imports 7.95 6.68 7.34 4.98 -3.32 3.30 3.23 3.20 3.22

Terms of Trade Indices

Export price index 100.00 106.97 110.51 113.90 117.27 120.88 124.59 128.53 132.56 135.91Import price index 100.00 103.49 105.09 106.13 107.56 109.60 112.16 115.31 118.84 122.80Teres of trade index 100.00 103.37 105.16 107.32 109.02 110.29 111.09 111.46 111.55 110.67

Source: Mission estimates.October,1997

- 43 -Pg 8of8

SCENARIO 2ST. VINCENT & THE GRENADINES - ACTUAL & PROJECTED PUBLIC SECTOR FINANCES,1986-1995

IN CONSTANT 1986 PRICES(ECS rillion)

Actual PROJECTED

1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Total Revenues & Grants 143.10 138.92 143.78 143.15 147.44 149.68 152.81 155.86 159.68 163.47

Current Revenue 115.40 117.44 120.26 124.01 128.80 134.12 138.35 142.99 147.67 152.53Capital Grant 27.70 21.47 23.53 19.14 18.64 15.56 14.46 12.87 12.01 10.95

TOtal Expenditures 148.50 135.46 146.5? 155.90 143.05 144.28 150.94 147.08 145.59 150.26

Current Expenditures 89.70 91.33 93.57 96.54 100.31 104.50 107.85 111.52 115.23 119.08

Capital Expenditures 58.80 44.13 52.95 59.36 42.74 39.78 43.08 35.56 30.35 31.18

Public Savings 25.70 26.11 26.69 27.48 28.49 29.61 30.50 31.47 32.44 33.45

Of which Central Govt. 16.10 18.78 21.23 23.78 25.70 24.95 25.85 26.34 26.24 25.29

Public Enterp. 5.80 5.96 6.16 6.40 6.71 7.05 7.33 7.64 7.96 8.29

Overall Balance -5.40 3.45 -2.73 -12.74 4.39 5.40 1.87 6.78 14.10 13.21

Of which Central Govt. 2.20 5.25 3.87 0.71 15.16 8.90 6.37 14.06 19.20 17.37

Public Enterp. -10.60 -3,17 -5.91 -10.74 -6.85 -1.12 -1.81 -2.76 -3.34 -4.02

Financing 5.40 -3.45 2.73 12.74 -4.39 -5.40 -1.87 -8.78 -14.10 -13.21

External 13.30 18.63 18.36 24.30 12.15 10.80 7.95 8.62 9.81 10.20

Domestic -7.90 -22.08 -15.63 -11.56 -16.54 -16.20 -9.83 -17.39 -23.91 -23.41

As Percentage Of 6DP

Public Savings 8.11 8.13 8.16 8.19 8.21 8.24 8.26 8.29 8.31 8.34

Central Govt 5,08 5.85 6.49 7.08 7.41 6.94 7.00 6.94 6.73 6.31

Public Enterp. 1.83 1.86 1.88 1.91 1.93 1.96 1.99 2.01 2.04 2.07

PS Overall Balance. -1.70 1.08 -0.84 -3.80 1.27 1.50 0.51 2.31 3.61 3.29

Central Govt. 0.69 1.63 1.18 0.21 4.37 2.48 1.73 3.70 4.92 4.33

Public Enterp. -3.34 -0.99 -1.81 -3.20 -1.97 -0.31 -0.49 -0.73 -0.86 -1.00

PS Current Revenue 36.40 36.58 36.76 36.94 37.12 37.30 37.48 37.66 37.85 38.03

PS Current Expenditure 28.30 28.45 28.60 28.76 28.91 29.06 29.22 29.38 29.53 29.69PS Capital Expenditure 18.55 13.75 16.19 17.68 12.32 11.06 11.67 9.37 7.78 7.78

Memo

6DP m.p,(Constant prices) 317.00 321.02 327.12 335.70 346.92 359.56 369.11 379.65 390.18 401.05

Source: Mission estimates.October,1987

- 44 -

ST. VINCENT AND THE GRENADINES

STATISTICAL APPENDIX

Table of Contents

Page No.

I. Population

1.1 Selected Vital Statistics (1977-86) 46

II. National Accounts

2.1 Sectoral Origin of Gross Domestic Product atCurrent Prices (1977-86) . . . . .. . . . . 47

2.2 Sectoral Origin of Gross Domestic Product at 1977Constant Prices (1977-86) .... . . . . . . 48

2.3 Expenditure on Gross Domestic Product at CurrentPrices (1977-86) . . . . . . . . . . . . . . . 49

2.4 Expenditure on Gross Domestic Product at Constant1977 Prices (1977-86) . . . . . . . . . . . . . 50

2.5 GDP Deflators (1977-86) . . . . . . . . . . . . . 51

III. Balance of Payments

3.1 Balance of Payments (1977-86). . . . . . . . . . 52

3.2 Merchandise Imports (C.I.F.) (1977-86) . . . . . 53

3.3 Value, Volume and Unit Price of Major Exports(1977-86) ... . . 54

3.4 Terms of Trade Index (1977-86) . . . . . . . . . 55

3.5 Direction of Trade (1979-86) . . . . . . . . . . 56

IV. External Debt

4.1 Summary of External Public Debt Operations(1981-86) . . . . . . . . . . . . . . . . . . . 57

V. Public Sector Finances

5.1 Central Government Current Expenditures (1977-86) 58

5.2 Central Government Current Revenues (1977-86) . . 59

5.3 Central Government Operations (1977-86) . . . . . 60

5.4 Summary Operation of the Consolidated Public Sector(1980-86) . . . . . . . . . . . . . . . . . . . 61

5.5 Summary Operation of the Consolidated PublicEnterprise (1980-86). . . . . . . . . . . . . . . 62

5.6 Public Sector Investment Program (1987-89) . . . 63

- 45 -

Page No.

VI. Money and Banking

6.1 Consolidated Commercial Bank Operations(1979-86) . . . . . . . . . . . . . . . . . . 66

6.2 The Foreign Commercial Bank Operations(1979-86) . . . . . . .......... . . . 67

6.3 The National C-nmercial Bank Operations (1979-86) . . . . . . . . . . . . . . . 68

6.4 Distribution of Commercial Bank Loans and Advancesto the Private Sector (1977-86) . . . . . . . . . 69

6.5 Interest Rate Structure (1977-86) . . . . . . . . 706.6 Eastern Caribbean Central Bank (1979-86). . . . . 716.7 ECCB Operations in St. Vincent (1982-86). . . . . 72

VII. Agriculture, Tourism and Other Sectors

7.1 Estimated Production of Major Commodities(1979-86) . . . . . . . . . . . . . 73

7.2 Selected Tourism Data (1978-86) . . . . . . . . . 747.3 Fuel Consumption (1978-86) . . . . . . . . . . 75

VIII. Prices

8.1 Consumer Price Index (1979-86) . . . . . . . . . 768.2 Exchange Rate Movements (1978-86) . . . . . . . . 78

- 46 -

Table 1.1 : ST. VINCENT AND THE GRENADINES - SELECTED VITAL STATISTICS (1977-1986)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Total Population 98,486 100,327 102,343 103,261 104,683 106,243 107,697 108,748 110,192 111,633(End Of Year)

Crude Birth Rate (per 1000) 32.6 33.3 34.0 30.0 31.3 32.0 31.0 26.3 26.8 24.7

Crude Death Rate (per 1000) 8.0 7.6 6.9 7.1 7.5 7.1 7.3 6.5 6.0 5.6

Rate of Natural Increase 24.5 25.7 27.1 23.0 23.8 24.9 23.7 19.8 20.8 19.0

Total Births 3,152 3,275 3,409 3,075 3,227 3,352 3,295 2,831 2,910 2,718

Total Deaths 778 745 693 724 772 745 779 703 651 621

Natural Increase 2,374 2,530 2,716 2,351 2,455 2,607 2,516 2,128 2,259 2,097

Net Higration -671 -689 -700 -1433 -1033 -1047 -1062 -1077 -815 ...

Net Population Increase 1,703 1,841 2,016 918 1,422 1,560 1,454 1,051 1,444 ...

Infant Deaths 175 161 130 185 151 136 122 75 59 ...

Infant Hortality Rate 55.5 49.2 38.1 60.2 46.8 40.6 37.0 26.5 20.3 ...

Sources: Ministry of Health, Ministry of Planning and Development, Statistical Office, and sission estimates.

- 47 -

Table 2.1: ST. VINCENT AND THE GRENADINES - SECTORAL ORIGIN OF GROSS DOMESTIC PRODUCT AT CURRENT PRICES

--------- (1977-1986)

(ECS million)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Agric., Livestock & Fishing 14.7 20.7 19.7 19.8 27.5 31.9 35.5 39.3 45.9 49.1

Quarrying 0.3 0.3 0.4 0.5 0.6 0.6 0.6 0.5 0.6 0.6

Construction 10.1 10.8 14.4 18.4 20.6 21.8 23.2 16.6 19.4 23.5

hanufacturing 5.9 10.3 13.1 14.2 18.4 20.7 21.3 27.7 26.3 23.7

Electricity and Mater 2.5 2.6 3.0 3.3 4.4 5.2 6.8 6.3 7.1 8.5

Transport and Communications 11.2 14.6 18.7 20.5 25.6 30.9 33.2 37.5 41.1 44.1

Wholesale and Retail Trade 11.1 12.8 13.9 17.6 18.4 22.6 24.3 26.1 28.7 30.5

Hotels and Restaurants 1.9' 2.0 2.2 2.7 3.7 4.1 4.5 4.6 5.1 5.6

fanking, Finance, Real Estate 6Business Services 7.6 9.8 12.4 15.1 18.3 20.5 22.0 24.3 25.8 28.6

Public Administration 14.9 19.0 21.6 22.2 30.3 35.0 38.2 43.3 44.6 49.1

Other Services 2.6 3.1 3.3 4.6 5.3 5.7 6.1 6.4 6.5 7.0

Less Ioputed Dank Charges 3.2 4.5 5.5 7.4 8.5 10.8 11.4 11.9 12.0 13.6

Gross Doeestic Product at f.c. 79.6 101.5 117.2 131.5 164.6 188.2 204.3 220.7 239.1 256.7

Sources: Ninistry of Finance, Ninistry of Planning and Development; OECS Secretatiat; and mission estimates.

- 48 -

Table 2.2: ST. VINCENT AND THE GRENADINES - SECTORAL ORIGIN OF GROSS DOMESTIC PRODUCT AT 1977 CONSTANT PRICES--------- (1977-1986)

(ECS million)

1977 1978 1979 1980 1981 1982 1983 1984 1955 1986

Agric., Livestock & Fishing 14.7 17.2 14.6 12.5 17.7 18.7 19.6 20.9 23.5 23.6

Quarrying 0.3 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4

Construction 10.1 8.8 10.6 11.2 11.4 11.5 12.2 12.1 12.4 13.7

Manufacturing 5.9 8.9 10.6 11.1 11.3 12.0 12.3 12.8 12.4 11.8

Electricity and Water 2.5 2.8 3.1 3.2 3.3 3.6 3.7 3.8 4.1 4.5

Transport and Communications 11.2 12.9 14.3 16.6 18.8 20.7 23.2 24,9 26.0 27.0

Wholesale and Retail Trade 11.1 11.8 11.1 12.0 11.1 12.7 13.0 13.6 14.7 15.7

Hotel and Restaurants 1.9 2.5 2.9 3.7 3.2 3.4 3.6 3.6 3.8 4.0

Banking, Finance, Real Estate &Business Services 7.6 7.7 8.0 8.5 8.6 8.8 8.9 9.4 9.4 9.8

Public Administration 14.9 15.6 16.5 17.1 17.5 17.5 17.8 19.3 19.9 19.5

Other Services 2.6 2.9 2.9 3.1 3.2 3.3 3.4 3.5 3.5 3.6

Less lputed Service Charges 3.2 3.2 3.5 3.8 3.8 3.9 3.9 4.3 4.1 4.7

Gross Domestic Product at f.c. 79.6 86.1 91.4 95.5 102.6 108.6 114.1 119.9 125.0 128.9

Sources: Ministry of Finance, Ministry of Planning and Development; OECS Secretatiat; and mission estimates.

- 49 -

Table 2.3: ST. VINCENT AND THE GRENADINES - EXPENDITURE ON GROSS DOMESTIC PRODUCT AT CURRENT PRICES

--------- (1977-1986)

(ECS *illion)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Total Consumption 108.8 110.2 141.6 159.6 181.3 229.7 236.8 231.1 227.3 247.5

Public 23.1 29.5 33.6 37.7 45.0 52.9 56.8 59.1 60.1 65.3

Private 85.7 80.7 108.0 121.9 136.3 176.9 180.0 172.0 167.3 182.2

Gross Domestic Investsent 26.5 34.4 49.8 62.9 63.9 64.7 62.9 75.4 85.2 107.3Public 9.8 10.7 16.8 24.1 28.1 21.4 26.7 20.6 20.1 41.1

Private 14.1 21.8 27.6 33.2 30.0 37.1 29.5 50.0 56.0 56.5

Inventory change 2.6 1.9 4.4 5.5 5.9 6.2 6.7 4.8 9.1 9.7

Resource 6ap -41.0 -25.1 -51.3 -66.7 -52.4 -69.4 -53.2 -36.4 -18.3 -37.8

Exports, 6&NFS 44.8 78.8 88.8 104.5 120.2 129.3 159.0 196.3 222.6 225.1

Imports, 6&NFS 95.9 104.0 140.1 171.2 172.5 198.7 212.2 232.7 240.9 262.9

Gross Domestic Product at e.p. 94.3 119.5 139.1 155.7 192.9 225.0 246.5 270.1 294.2 317.0

Minus: Indirect TaxesNet of Subsidies a/ 14.7 18.0 21.9 24.2 28.2 36.8 42.2 49.4 55.1 60.3

Gross Domestic Product at f.c. 79.6 101.5 117.2 131.5 164.6 188.2 204.3 220.7 239.1 256.7.- - - - - - -- - - - - - - ----- -- - -- - ----- ____ __ _______ .__ ___

Net Factor Income 0.0 0.0 -1.6 -2.4 -4.6 -7.3 -6.2 -8.1 -7.8 -9.5

Gross National Product at e.p. 94.3 119.5 137.5 153.3 188.2 217.7 240.3 262.0 286.4 307.6

6ross Doeestic Savings -14.5 9.3 -2.5 -3.9 11.5 -4.7 9.7 39.0 66.9 69.5

Net Current Transfers 23.5 25.1 35.9 32.9 35.4 35.4 41.6 32.4 35.1 39.2

Gross National Savings 9.0 34.4 31.8 26.6 42.3 23.4 45.1 63.3 94.1 99.2

a/ 6overnment figures.

Sources: Ministry of Finance, Statistical Unit; OECS Secretariat and mission estimates.

- 50 -

Table 2.4: ST. VINCENT AND THE 6RENADINES - EXPENDITURE ON GROSS DOMESTIC PRODUCT AT CONSTANT 1977 PRICES^-------- (1977-19861

(ECS eillion)…-- - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - -

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986…-- - - - - - - - - - - - - - - - - - - - - - - - - - - -

Total Consumption 108.8 99.0 107.2 112.0 115.4 142.2 145.8 141.4 144.2 148.9Public 23.1 26.5 25.4 26.5 28.6 32.7 34.9 36.2 38.1 39.3Private 85.7 72.5 81.8 85.6 86.8 109.5 110.8 105.3 106.1 109.6

gross Domestic Investeent 26.5 31.2 37.4 40.5 38.2 37.3 34.8 41.2 46.0 67.4Public 9.8 9.7 12.9 15.5 16.8 12.4 14.8 11.3 10.9 24.0Private 14.1 19.7 21.1 21.4 17.9 21.4 16.4 27.4 30.4 35.4Inventory change 2.6 1.7 3.4 3.5 3.4 3.5 3.6 2.5 .4.7 8.0

Resource Gap -41.0 -25.9 -36.4 -41.4 -34.2 -50.1 -43.8 -37.7 -36.6 -56.5Exports, G6NFS 44.8 70.8 70.9 68.7 72.5 75.9 91.3 114.2 121.6 114.1Imports, G6NFS 85.9 96.7 107.3 110.2 106.8 126.0 135.1 151.9 158.2 170.5

Gross Domestic Product at e.p. 94.3 104.3 108.2 111.1 119.3 129.4 136.8 144.9 153.6 159.9

Minus: Indirect TaxesNet of Subsidies a/ 14.7 16.2 16.8 15.6 16.7 20.8 22.7 26.0 28.6 31.0

Bross Domestic Product at f.c. 79.6 88.1 91.4 95.5 102.6 108.6 114.1 118.9 125.0 128.9

Net Factor Income 0.0 0.0 -1.2 -1.7 -3.2 -5.1 -4.5 -6.0 -5.7 -5.8

6ross National Product at *.p. 94.3 104.3 106.9 109.4 116.1 124.2 132.3 138.9 147.9 154.0

Gross Domestic Savings -14.5 5.3 1.0 -1.0 3.9 -12.8 -9.0 3.5 9.4 10.9

Net Current Transfers 23.5 21.8 27.6 23.1 24.6 25.0 30.2 23.9 25.7 24.1

6ross National Savings 9.0 27.1 27.3 20.4 25.4 7.0 16.7 21.4 29.4 29.2

a/ Government figures.

Sources: Ministry of Finance, Statistical Unit, OECS Secretariat and mission estimates.

Table 2.5: ST. VINCENT AND THE GRENADINES - GDP DEFLATORS (1977-86)

(1977= 100)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Consumption 100.0 111.3 132.1 142.4 157.1 161.5 162.4 163.4 157.6 166.2

Investeent 100.0 110.4 130.5 155.2 167.4 173.1 180.2 182.6 184.4 186.6

Exports of Goods & NFS 100.0 111.3 125.3 152.0 165.7 170.4 174.2 171.9 183.0 197.3

Imports of Goads & NFS 100.0 107.5 130.6 155.4 161.6 157.7 157.1 153.2 152.3 154.2

GDP Deflator at ..p. 100.0 114.6 128.6 140.2 161.6 173.9 180.2 186.4 191.5 198.3

HUY 100.0 115.0 130.3 142.8 143.5 141.6 137.8 135.5 136.4 162.2

CPI 100.0 111.1 130.5 155.2 168.8 177.0 186.0 190.0 192.4 194.7

Sources: Tables 2.3 and 2.4 and mission estimates.

- 52 -

table 3.1: ST. VINCENT AND THE GRENADINES - BALANCE OF PAYMENTS (1977-86)

(USS millions)

1977 1978 1979 1980 1981 1982 1983 1984 1085 1986

Exports of Goods and NFS 16.6 29.2 32.9 38.7 44.5 47.9 58.9 72.7 82.4 83.4Merchandise Exports 10.7 18.1 19.2 21.0 29.8 32.2 41.1 53.6 63.2 63.9Non-factor Services 5.9 11.1 13.7 17.7 14.7 15.7 17.8 19.1 19.2 19.5

Imports of Goods and NFS 31.8 38.5 51.9 63.4 63.9 73.6 78.6 86.2 89.2 97.4Merchandise Imports 30.3 36.2 46.3 57.2 58.2 65.1 70.4 76.6 79.2 87.3Non-factor Services 1.5 2.3 5.6 6.2 5.7 8.5 8.2 9.6 10.0 10.1

Resource Balance -15.2 -9.3 -.9.0 -24.7 -19.4 -25.7 -19.7 -13.5 -6.8 -14.0

Factor Se!-vices & Transfers 8.7 9.3 12.7 11.3 11.4 10.4 13.1 9.0 10.1 11.0Net Factor Service Payments 0.0 0.0 -0.6 -0.9 -1.7 -2.7 -2.3 -3.0 -2.9 -3.5Transfers to Private Sector 8.7 9.3 13.3 12.2 13.1 13.1 15.4 12.0 13.0 14.5

Current Account Balance -6.5 0.0 -6.3 -13.4 -8.0 -15.3 -6.6 -4.5 3.3 -3.0

Private Investment 2.9 -1.1 0.6 1.1 0.5 1.5 2.1 1.4 1.8 3.0

Public Sector 3.2 3.8 5.0 8.3 6.8 6.9 6.6 5.2 6.3 14.3Capital Grants 2.4 2.7 2.8 3.9 3.4 4.5 4.0 3.5 4.1 8.6Foreign Borrowing (net) 0.8 1.1 2.2 4.4 2.7 2.4 2.6 1.7 2.2 5.7ECCA/ECCB 0.0 0.0 0.0 0.0 0.7 0.0 0.0 0.0 0.0 0.0Commercial Banks 2.1 0.1 -2.1 1.6 -2.0 2.6 -1.3 2.4 -5.3 -5.8Other Private Capitaland Errors and Omissions -1.2 -3.1 3.0 1.9 2.0 0.6 -0.5 -0.0 0.3 3.4

Financing -0.5 0.3 -0.2 0.5 0.7 3.7 -0.3 -4.5 -6.4 -11.9

IMF 0.0 0.0 0.0 0.7 1. 8 0.0 0.0 -0.5 -0.7 -0.4Changes in Isputed Reserves 0.0 0.0 0.0 0.0 -1.1 3.6 -0.6 -4.1 -5.2 -11.1Gov't Foreign Assets -0.5 0.3 -0.2 -0.2 0.0 0.1 0.3 0.1 -0.5 -0.4(increase - -)

Sources: IMF and World Bank staff estimates and ECCB5

- 53 -

Table 3.2: ST. VINCENT AND THE GRENADINES - MERCHANDISE IMPORTS ( C.I.F.)(1977-1986)

(USS million)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Tota: Merchandise I ports 3X3 36.2 46.3 57.2 58.2 65.1 70.4 76.6 79.2 87.3

Consumer Goods 19.3 24.3 29.6 35.6 35.1 39.2 43.2 45.3 46.4 48.1

Food, Beverages & Tobacco 10.0 13.7 17.1 20.0 18.5 20.6 20.4 21.6 21.0 18.3Manufactured Goods 9.3 10.6 12.5 15.6 16.6 18.6 22.8 23.7 25.4 29.9

Intereediate Goods 6.5 6.8 9.7 12.6 14.5 15.4 15.5 17.4 19.5 19.5

Minerals and Fuels 2.1 2.2 3.5 5.1 5.1 5.1 6.8 6.6 6.4 6.4Chemical & Fertilizers 3.1 3.6 4.9 5.5 6.9 6.5 6.S 8.3 10.7 10.4Raw Materials 1.3 1.0 1.3 2.0 2.5 3.8 2.2 2.5 2.4 2.7

Capital Goods 4.5 5.1 7.0 9.0 8.5 10.5 11.7 13.9 13.3 19.4

Machinery & Equipment 4.5 5.1 7.0 9.0 8.5 10.5 11.7 13.9 13.3 19.4

Miscellaneous 0.0 0.0 -0.0 0.0 0.1 -0.0 0.0 -0.0 0.0 0.3

Sources: Ministry of Finance, Ministry of Planning and Development and staff estimates.

- 54 -

Table 3.3: ST. VINCENT AND THE GRENADINES -VALUE, VOLUHE AND UNIT PRICES OF MAJOR EXPORTS--------- (1977-1986)

(Value in elns. of USt; volume in elns of pounds; and unit price in USS/lb.)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Total Merchandise Exporis a/ 10.7 18.1 19.2 21.0 29.8 32.2 41.1 53.6 63.2 63.9

Re-exports a/ 0.7 0.7 0.7 0.8 0.9 0.8 1.5 0.9 1.1 0.7

Doaestic Exports 4 i0.0 17.4 18.5 20.2 28.9 31.4 39.6 52.7 62.1 63.21

BananasValue 5.6 7.3 5.9 6.3 10.1 9.1 11.0 11.8 16.9 19.7Volume (kgs.) 26.2 31.0 22.3 18.8 29.8 25.0 27.1 31.5 40.6 41.2Unit price 0.214 0.235 0.265 0.335 0.339 0.366 0.407 0.376 0.416 0.47)

FlourValue 0.0 3.2 5.4 6.0 6.4 5.6 5.5 6.4 7.2 5.6Voluse 0.0 22.3 34.5 33.3 31.0 28.7 29.3 34.5 38.0 30.0Unit price 0.0 0.143 0.157 0.180 0.206 0.195 0.187 0.186 0.189 0.187

ArrowrootValue 0.5 0.7 0.7 0.8 1.0 0.2 0.7 0.4 0.6 0.4Volume 1.6 1.8 1.4 1.5 1.4 0.3 1.3 0.9 1.8 1.0Unit price 0.313 0.389 0.500 0.533 0.741 0.701 0.556 0.516 0.348 0.426

CoconutsValue 0.3 0.3 0.5 0.6 0.3 0.2 0.2 0.6 0.3 0.3Volume ('000 nuts) 4.1 4.7 4.1 3.8 1.8 1.5 1.0 3.9 1.8 1.7Unit price 0.073 0.064 0.122 0.158 0.151 0.150 0.151 0.151 D.151 0.184

Sweet potatoesValue 0.2 0.4 0.3 0.5 0.3 0.3 0.4 1.1 4.1 5.7Volume 1.3 2.7 2.5 3.6 2.4 2.1 2.1 4.8 17.1 24.2Unit price 0.154 0.148 0.120 0.139 0.123 0.122 0.211 0.233 0.238 0.236

PlantainsValue ... ... 0.2 0.2 0.8 0.7 0.6 1.3 1.4 1.7Volume ... ... 2.1 1.9 4.0 3.9 3.1 7.7 7.7 8.8Unit price ... ... 0.095 0.105 0.188 0.185 0.188 0.163 0.184 0.196

Eddoes & dasheens ... ...Value ... ... 0.7 1.0 2.1 2.7 4.3 8.9 12.8 11.7Volume ... ... 3.4 4.3 S.2 10.8 18.4 35.2 50.8 46.9Unit price ... ... 0.206 0.233 0.250 0.255 0.233 0.254 0.252 0.250

Other a/ 3.4 5.5 4.8 4.8 8.0 12.5 16.9 22.1 18.9 18.0Of which:postage stamps 0.8 1.5 1.1 0.6 2.1 2.3 0.8 0.7 0.6 0.6

a/ Value only.

Sources: Ministry of Finance,Planning and Development; St. Vincent Marketing Corporation; Ministry of Trade, Industry

- 55 -

Table 3.4: ST. VINCENT AND THE GRENADINES - TERMS OF TRADE INDEX (1977-86)

(1977 = 100)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Export Price Index a/ 100.0 111.3 125.3 152.0 165.7 170.4 174.2 171.9 183.0 197.3

Ieport Price Index b/ 100.0 107.5 130.6 155.4 161.6 157.7 157.1 153.2 152.3 154.2

Commodity Teras of Trade 100D 103.5 95.9 97.8 102.5 108.0 110.9 112.2 120.2 128.0

a/ Based on export prices of bananas, arrowroot,coconuts, sweet potatoes, flour, plantains,dasheens and eddoes and tannias, which together averaged 67X of the value ofdomestic exports during 1982-86.

b/ Based on export price indices of St. Vincent and the Grenadine's trading partners.

Source: Mission staff estimates.

- 56 -

Table 3.5: ST. VINCENT AND THE GRENADINES -DIRECTION OF TRADE (1979-86)

(In thousands of U.S. dollars)

1979 1980 1981 1982 1983 ' %4 1985 1986…a-.- , -.

Total Exports, f.o.b. 14,766 15,743 24,390 32,371 41,05.- 53,559 63,246 63,863

United Kingdom 7,294 7,929 11,197 9,754 11,946 12,893 17,824 20,249

United States 386 638 1,674 2,881 5,788 5,668 6,148 6,024

Canada 271 93 207 117 181 365 268 322

CARICON Countries a/ 6,417 6,930 11,188 19,005 23,105 34,216 38,712 37,054

Trinidad & Tobago 3,205 3,986 5,826 10,070 14,00° 24,348 28,421 27,445

Barbddos 704 800 1,161 1,641 1,294 1,357 733 890

Antigua 619 216 672 1,352 1,580 1,766 1,697 1,548

Doainica 436 325 599 1,571 2,005 1,780 1,832 1,671

St. Kitts & Nevis 375 351 593 1,132 1,174 1,146 1,121 1,023

St. Lucia 89 415 1,059 2,136 1,861 2,908 3,955 3,608

Other 989 838 1,279 1,103 1,183 911 9Z3 869

Other 396 153 124 614 135 417 293 215

Total Isports, c.i.f 46,326 57,103 58,191 65,118 70,369 76,594 79,240 87,273

United Kingdom 10,441 10,497 10,007 10,358 9,209 11,299 10,907 14,426

United States 9,200 14,925 18,892 22,070 25,400 28,355 28,772 29,826

Canada 5,375 4,466 3,363 4,011 4,103 2,377 2,687 6,272

Japan 792 1,882 1,334 2,329 3,014 4,149 3,525 3,536

Netherlands 612 618 731 1,005 1,060 2,421 2,621 2,805

Rest Germany 487 1,025 487 750 1,396 2,352 3,849 4,156

CARICON Countries 12,796 16,599 15,688 11,833 15,726 14,764 14,473 16,376

Trinidad & Tobago 6,473 8,769 7,864 5,424 9,363 8,716 8,299 9,043

Barbados 2,125 3,007 2,565 2,227 2,493 2,614 2,717 3,083

Guyana 1,270 2,044 2,135 952 833 763 486 511

Jamaica 954 840 1,077 1,262 1,333 1,048 1,157 1,180

Antigua 113 267 84 207 238 163 204 204

Dosinica 314 373 441 439 266 538 806 838

St. Lucia 1,477 1,125 1,013 862 676 577 606 631

Other 69 173 509 460 524 345 198 886

Other 6,622 7,091 7,690 12,762 10,461 10,877 12,407 9,877

a/ The information for each CARICON country refers to dosestic exports only. It is assumed

that the same percentage distribution for domestic exports remains when re-exports

are included.

Source: Statistical Unit, Ministry of Finance, Planning and Development.

- 57 -

Table 4.1: ST VINCENT AND THE GRENADINES - SURNARY OF EXTERNAL PUBLIC DEBT OPERATIONS--------- (1981-1986)

Prel.1981 1982 1983 1984 1985 1986

(In thousands of U.S. dollars)

Outstanding Debt at End of Period 19,180 20,508 22,024 22,098 23,589 2d,940

IMF Debt 1,746 1,654 1,570 990 362 -

Purchases 1,597 0 0 0 0 0Repurchases (-) 0 0 0 -489 -682 -362Valuation Adjustment -106 -92 -84 -91 54 808

other 17,434 18,854 20,454 21,108 23,227 28,940

Central Government 3,322 4,652 5,164 4,662 9,549 12,810Drawings ... 1,952 1,031 167 100 73Amortizations (-) ... -360 -364 -346 -426 -857Valuation Adjustment ... -262 -155 -323 5,213 4045

Publicly Guaranteed 14,112 14,202 15,290 16,446 13,678 16,130Drawings ... 866 2,251 2,209 3,458 7106Amortizations (-) ... -101 -338 -353 -922 -613

Valuation Adjustsent ... -675 -825 -700 -5304 -4041

Debt Service Payments 1,507 1,466 1,715 2,292 3,079 3,080

Amortizations 611 461 702 1,18P 2,030 1,832

IMF 0 0 0 489 682 362Other 611 461 702 699 1,348 1,470Central Government ... 360 364 346 426 857Publicly Guaranteed ... 101 338 353 922 613

Interest 896 1,005 1,013 1,104 1,049 1,248

IMF 88 127 146 139 85 -Other 808 878 867 965 964 1,248Central Government ... 198 202 194 170 428Publicly Guaranteed ... 680 665 771 794 820

3ources: Hinistry of Finance; and Fund staff estimates.

- 58 -

Table 5.1: ST. VINCENT AND THE BRENADINES - CENTRAL 6OVERNNENT CURRENT EXPENDITURES_-- 11977-1996)

(ECS Billion)

Fiscal Year Beginning July 1

1977 1979 1979 1980 1981 1982 1983 1984 1985 1986

Goods and Services 24.5 34.4 35.3 40.4 53.8 56.3 62.9 63 65.6 73.3

Salaries 13.5 20.1 19.0 18.7 28.7 30.0 35.3 35.3 36.4 40.3

Wages 1.0 0.9 1.1 1.2 1.3 1.4 4.2

Other Goods and Services 9.4 13.0 14.2 18.4 22.2 22.7 23.2 21.9 23.8 24.5

Interest 1.6 1.3 2.1 2.3 2.0 2.5 3.2 4.5 4.0 4.3

Domestic 1.8 1.5 1.9 2.7 3.9 3.2 3.1

External 0.5 0.5 0.6 0.5 0.6 0.8 1.2

Subsidies 0.7 0.9 1.7 2.1 2.0 2.5 3.0 1.6 0.9 1.6

Operating deficits ofdeparteental enterprises 0.3 0.3 1.3 1.8 1.7 2.3 2.9 1.0 - -

Public enterprises 0.4 0.6 0.4 0.3 0.3 0.2 0.2 0.6 0.9 1.6

Transfers 2,9 3.9 4.1 4.4 7.2 8.0 9.0 9.3 10.6 12.8

Other levels of nationalgoverneent 0.1 0.4 0.3 0.0 0.4 0.7 0.7 0.9 0.9 2.5

Nonprofit institutions 0., 0.8 0.1 0.1 0.4 0.2 0.2 0.2 0.3 0.3

Households 1.4 2.1 2.7 2.9 4.0 4.5 5.1 5.5 6.4 6.6

Abroad 0.9 0.6 1.0 1.4 2.4 2.6 3.0 2.7 3.0 3.4

Total current expenditures 28.1 39.2 41.1 46.9 63.0 66.8 74.9 73.9 77.1 87.7

Sources: Ministry of Financel Planning and Development and mission estimates.

- 59 -

Table 5.2s ST. VINCENT AND THE GRENADINES - CENTRAL 9OVERNHENT CURRENT REVENUES--------- (1977-1986)

(ECS million)

Fiscal Year Beginning July 1

1977 1978 1979 1980 1981 1982 1993 1984 1985 1986

Taxes on income andproperty 5.6 8.7 10.7 12.6 16.0 22.0 20.4 22.4 23.1 25.0Individuals 5.4 8.5 10.3 6.7 9.3 10.6 12.9 12.0 11.6 14.2Coapany - - - 5.3 5.9 10.3 5.9 8.5 9.6 9.2Withholding 0.2 0.2 0.4 0.4 0.5 0.5 0.6 0.9 1.0 0.8Land and house - - - 0.2 0.3 0.6 1.0 1.0 0.9 0.8

Indirect taxes 6.7 8.1 9.8 7.5 10.9 14.2 16.7 26.2 32.4 38.8Consumption tax 3.0 3.3 4.0 4.1 6.4 7.9 7.5 18.7 25.6 30.7Excise duty - - - 0.5 0.8 0.9 1.0 0.7 1.0 1.4

Hotel turnover - - - 0.6 0.6 0.5 0.5 0.7 0.8 0.9

Trader turnover - - - 0.0 0.0 1.8 3.4 1.9 0.1 -Bank deposit - - - 0.6 0.6 0.6 1.4 1.7 1.8 1.7

Licenses - - - 1.5 2.1 1.8 2.4 2.0 2.3 2.9

Other taxes 3.7 4.8 5.9 0.2 0.4 0.7 0.5 0.5 0.8 1.2

Taxes on internationaltrade 9.6 12.0 15.4 16.8 21.2 24.4 25.2 22.8 22.3 23.8Import duties 6.8 8.0 10.6 10.6 11.1 13.0 13.5 15.1 16.1 17.5Stamp duty an imports 2.8 3.3 4.2 4.2 6 7.1 7.0 2.5 - -Export duties 0.0 0.7 0.6 0.5 1.1 0.9 0.9 1.1 1.6 1.6Exchange tax - - - 1.5 3 3.4 3.9 3.9 4.1 4.1Travel tax - - - - - - - 0.2 0.5 0.6

Other - - - 1.3 1.5 1.9 1.6 2.1 2.2 2.2

Stamp duties - - - 1.3 1.5 1.8 1.6 2.1 2.0 2.1Excise duties (equalization tax - - - - - - - - 0.2 0.1

Non-tax revenues 6.4 5.0 8.6 8.0 8.3 7.9 8.7 11.1 14.0 14.0Interest and rent 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.7 0.5 1.1ECCB profits 0. 6 0.4 1.0 1.3 2.3 2.3 3.8 1.8 5.8 3.0Operating surpluses ofdepartmental enterprises 1.3 0.4 1.4 0.4 1.0 0.5 0.9 0.7 1.0 1.1Dividends 1.6 0.9 1.2 0.6 3.1 2.7 4.0Fees and fines 4.4 4.0 6.0 4.5 3.9 3.6 3.3 4.8 4.0 4.8

Total current revenues 28.3 33.8 44.5 46.2 57.9 70.2 72.6 94.6 94.0 103.8

Sources: Hinistry of Finance, Planning and Development and mission estimates.

- 60 -

Table 5.3: ST. VINCENT AND THE GRENADINES - CENTRAL 6OVERNMENT OPERATIONS--------- (1977-1986)

(EC5 million)

Fiscal Year Beginning July 1

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Total Revenue and Grants 34.0 41.7 53.8 54.5 70.7 81.0 80.2 91.5 101.1 116.3

Current Revenue 30.0 39.0 47.9 46.2 57.9 70.2 72.6 84.6 94.0 103.8

Capital Grants 4.0 2.7 5.9 8.3 12.8 10.8 7.6 6.9 7.1 12.5

Total Expenditures 35.6 48.8 49.7 56.9 78.0 87.8 86.1 83.7 89.9 114.1

Current Expenditures 28.1 39.2 41.1 46.9 63.0 66.8 74.9 73.9 77.1 87.7

Capital Expenditures 7.5 9.6 8.6 10.0 15.0 21.0 11.2 9.8 12.8 26.4

Current Balance 1.9 -0.2 6.8 -0.7 -5.1 3.4 -2.3 10.7 1b.9 16.1

Overall Surplus/Deficit -1.6 -7.1 4.1 -2.4 -7.3 -6.8 -5.9 7.8 11.2 2.2

Financing - 1.6 7.1 -4.1 2.4 7.3 6.8 5.9 -7.8 -11.2 -2.2

External -2.0 6.0 -0.1 8.3 2.4 3.8 0.5 -3.5 -4.4 3.7

Net Foreign Borrowing -0.9 5.4 0.0 3.3 0.7 4.7 -0.4 -0.8 -1.6 4.7

Net IMF 0.0 0.0 0.6 6.2 0.4 - -1.5 -1.1 -1.8 -

Change in Foreign Assets -1.1 0.6 -0.7 -1.2 1.3 -0.9 2.4 -1.6 -1.0 -1.0

Domestic 3.6 1.1 -4.0 -5.9 4.9 3.0 5.4 -4.3 -6.8 -5.9

Net ECCB Borrowing - - - - 0.6 3.3 7.4 0.6 -0.4 1.9

National Coamercial Bank - - - 0.4 -0.3 2.8 0.4 -4.2 19.1 -9.1

Other Ccmmercial Banks 2.7 0.4 -1.5 - 3.5 1.4 -3.3 -0.8 -1.3 2.2

National Provident Fund - - - - - -0.2 -0.2 - -0.1 1.5

State Enterprises - - - -6.1 0.5 -4.0 0.1 -0.1 -0.1 0.2

Other a/ 0.9 0.7 -2.5 -0.2 0.6 -0.3 1.0 0.2 -24.0 -2.6

a/ Includes counterpart entry to the assumption of the sugar industry debt by the Central Government in 1985

of EC523.8 million.

Sources: Ministry of Finance, Planning and Development and mission estimates.

- 61 -Table 5.4: ST. VINCENT AND THE GRENADINES - SUMMARY OPERATION OF THE CONSOLIDATED PUBLIC SECTOR

(1980-1986)

(ECS million)

Prel.1980 1981 1982 1983 1984 1985 1986

Total Revenue and Grants 56.5 75.2 84.4 85.7 96.0 114.7 143.1

Current Revenue 47.8 61.8 73.5 75.2 87.7 106.5 115.4Capital Grants 8.7 13.4 10.9 10.5 8.3 8.2 27.7

Total Expenditures 87.8 88.1 98.3 104.4 90.5 102.2 148.5

Current Expenditures 47.4 64.2 71.5 77.7 75.8 78.9 89.7Capital Expenditures 40.4 23.9 26.8 26.7 14.7 23.3 58.8Fixed Assets 38.7 17.5 23.9 21.9 14.7 23.0 58.9Change in Stocks -1.3 4.4 1.4 2.9 -0.7 -0.1 -0.4Net Lending 3.0 2.0 1.5 1.9 0.7 0.4 0.3

Current Account Balance 0.4 -2.4 2.0 -2.5 11.9 27.6 25.7

Overall Balance -31.3 -12.9 -13.9 -18.7 5.5 12.5 -5.4

Financing 31.3 12.9 13.9 18.7 -5.5 -12.5 5.4

External 24.3 3.0 5.5 5.1 -1.2 1.0 13.2Net Foreign Borrowing 19.3 1.3 6.2 4.1 1.5 3.8 14.2Net IHF 6.2 0.4 0.2 -1.4 -1.1 -1.8 -Change in Foreign Assets -1.2 1.3 -0.9 2.4 -1.6 -1.0 -1.0Domestic 7.0 9.9 8.4 13.6 -4.3 -13.5 -7.8Net ECCB Borrowing 0.0 0.6 3.3 7.4 0.6 -0.4 1.9Commercial Banks 9.1 7.5 5.6 4.1 -6.1 6.5 -16.0Other -2.1 1.8 -0.5 2.1 1.2 -19.6 6.3

Source: Ministry of Finance & Planning

- 62 -

Table 5.5:ST. VINCENT AND THE SRENADINES - SUNARY OPERATION OF THE CONSOLIDATED PUBLIC--------- ENTERPRISES (1980-1986)

(EC$ million)

Prel.1980 1981 1982 1983 1984 1985 1986

Total receipts 25.2 38.4 39.8 47.4 50.2 52.4 69.5

Current receipts 24.8 37.8 39.7 44.5 48.8 51.3 54.3of which: grants 1.6 - - 0.1 1.2 - -

Capital grants 0.4 0.6 0.1 2.9 1.4 1.1 15.2

Total expenditure 57.2 47.0 50.3 63.5 55.9 54.5 80.1

Current expenditure 27.2 38.3 44.7 48.2 51.2 44.2 48.5o.w.: interest 1.9 3.3 4.9 4.7 5.0 3.0 3.7

transfers from CO - - - - - 2.3 2.3transfers to C6 2.8 1.2 1.7 2.5 2.2 0.1 0.5

Capital expenditure 30.0 8.7 5.6 15.3 4.7 10.3 31.6Fixed assets 28.3 2.3 2.7 10.5 4.7 10.0 31.7Change in stocks -1.3 4.4 1.4 2.9 -0.7 -0.1 -0.4Net lending 3.0 2.0 1.5 1.9 0.7 0.4 0.3

Current account balance -2.4 -0.5 -5.0 -3.7 -2.4 7.1 5.8

Overall balance -32.0 -8.6 -10.5 -16.1 -5.7 -2.1 -10.6

Financing 32.0 8.6 10.5 16.1 5.7 2.1 10.6

External 16.0 0.6 1.5 4.4 2.3 5.3 9.6Domestic 16.0 8.0 9.0 11.7 3.4 -3.2 1.0Central Government 6.0 -0.5 4.0 -0.1 0.1 6.3 12.6Cossercial banks 12.3 8.1 5.5 11.2 3.7 -6.1 -5.7Other -2.3 0.4 -0.5 0.6 -0.4 -3.4 -5.9

Sources: Various non-financial public enterprises & Min. of Finance.

- 63 - Page Iof 3

Table 5.6: ST. VIKENT - PU13LIC SECTOR INVESTMENT PROGRAM

IECS '0001

i 1997 1 1999 i 1989SECTOR/TITLE .----------------- …41------…------ -----------

:Total External Local !Total External Local Total External Local1

AGRICUL.TURE, FORESTRY & FISHERIES 9600 4557 4043 113411 8865 4546 112496 12326 170 1--- --- - - - -- - --------- ----…----S _____SI

ADP 11000 1000 - 0 - - 0 - -Banana Industry Rehabilitation 1 4641 2641 2000 1 4326 - 4326 0 -

Banana Industry Support Scheme 85186 301 301 - 1 0 - - i 0 Banana Industry Support Schoe 96/87 I 0 - - 1290 290 - 1 0 - -

CAEP 10 - -10 - -10 - -Crop Development-OUnions 140 40 - 45 45 -1 0 - -

Development of Fishing Industry 1 0 - - 1 200 2000 - :3000 3000 -

Fruit Fly Trapping Programm1 250 210 40 I 0 - - 0 - -

Kingstoun Fisheries Infrastructure 1 0 - - 11000 1000 - : 4000 4000 -

LandAkqtLisition -Cane 8rove 11963 - 1963 1 0 - - . 0 - -

Livesitock Development Phase 1I 0 - - 1 400 400 - 1400 400 -

Orange Hill Development Programme : 0 - - 2000 2000 - 13000 3000 -

Orange Hill Development Prog.-amue1 0 - -1 200 200 - 1 13 183 -

Orange Hill Development Programme 0 - - :2000 1820 190 11913 1743 170 1Purchase of Fishing Equipment 1 0 - - 1 t 910 81 - 1 0 -

Topwoking Mango - Extension 155 55 - 1 0 - - 0 - -

Watershed Management - CHP 1350 310 40 350 310 40: 0 - -

MAWFACTLIRIN9/AUARRYING/CONSTRUCTION 13520 2520 1000 1 5050 3950 1100 17500 6300 12001

Diamod Industrial Estate 1 0 - - 1000 900 100 13000 2800 200Diamond Industrial Estate 1 0 - - 500 500 - 11500 1500 -

Industrial Estate 1520 520 - I550 550 - : 0 - -1

Quarry Development 1 3000 2000 1000 13000 2000 1000 13000 2000 1000

ENERGY 1,29202 25654 2549 :9502 9556 946 11247 1120 127 111---- ---- ~~ ----- -- -- i-- - .- -- i

Cumberland Hydroelectric Project 1 4630 4167 463 1 4630 4167 463 :1029 923 106 1Cumberland Hydroelectric Project i 3080 3080 - i503 503 - 43 43 -

Cumberland Hydroelectric Project :4938 4938 - 1 548 548 - 1 0 - -

Cumberland Hydroelectric Project 1 4617 4063 554 1 2660 2340 320 175 154 211Cumberland Hydroelectric Project :10937 9406 1531 11161 998 163 1 0 - -

TOURISM 2294 76 50 4000 400 100 13642 592 50

Craft Development Production Units :76 76 - : 0 - - : 10 10 -

Improvements to Tourism Attractions 150 - 50 1100 - 100o 50 - 50Tourism Development Programse 0 - - 400 400 - 1582 582 -

WATER & SEWERAGE : 1094 943 141 : 1750 250 1500 11500 0 1500 1- …----- --- - - 1-- --- --- ----- --- --

Barrouallie Water System 0 - - 1 0 - - 0 - -

Basic Needs Trust Fund -Water 1 21 21 - I 0 - - 0 - -

Colonarie River Water Supply i 0 - - 0 - - 11000 - 10001Diamond Estate Waiter Supply I 0 - - 1 1500 - 1500 1500 - 500Georgetown/Byrea Mater Supply 1500 500 - 1250 250 - 1 0 - -

Repairs to Foreshore & Sever Ouitfall 191 - 911 0 - - 1 0 - -

Water Meters - Installation 1472 422 50 1 0 - - 1 0 - -

- 64 -

Page 2 of 3

Table 5.6: ST. VINCENT - PUBLIC SECTOR INVESTMENT PROGRAM

tECS '00

i 1987 1988 11 1989SECTOR/TITLE - --------------------- ------ -----

;Total External Local !Total External Local !Total External Local 1

TRANSPORT & COMMUNICATIONS 6630 4240 2390 7563 5983 1580 114016 12686 1330

Arnos Vale Airport lmprovements 118 - 118 1 0 - - 1 0 -

Basic Needs Trust Fund (BNTF) - Rds 290 290 -1 0 - - 1 0 - -

Bequia Airstrip 0 - - 600 600 - 16000 6000 -

Bequia Road Development 315 - 315 1 0 - - It 0 - -I

BNTF Roads Performance Phase 1800 800 - :1500 1500 - : 300 300 - ICaribbean Airports Project - Constr. I 650 650 - 11 000 1000 - 11 0 - - IFeeder Roads III 11 500 1500 - :2000 1900 100 12585 2480 1051Feeder Roads IV 1 0 - - I 0 - - 14000 3600 4001Georgetown - Fancy Road I :1000 iooo - i783 783 - : 0 - -

Glen Road/Vermont Main Road 448 - 448: 0 - -1 0 - -:Kingstown Port Development Phase I : 0 - - 1 0 - - 1 0 - -

Kingstown Port Development Phase II 1 205 - 205 1 0 - - : 0 - -:KingstoNn Port Pedestrian Bridge 0 - - : 0 - - I 0 - -

Kingstown Port Pedestrian Bridge 1 0 - - I200 200 - : 306 306 -

Layou Jetty 1 0 - - 1 70 - 70: 0 - -

Marker Bouys - Grenadines i 0 - - 120 - 20 1 0 - -

PIR :100 - 100: o - -1 0 - -

Purchase of Engine - Grenadines Star 1250 - 250 .1 0 - - : 0 - -

Purch,ie of Road Equipment 1650 - 650: 650 - 6501 0 - -

Rehabilitation of WindNard Highway :200 - 200 1 740 - 740 :825 - 825Road Rehabilitation 1 104 - 104 1 0 - - 1 0 - -

EDUCATION & TRAINING : 2500 900 1600 :6559 2750 3809 :7727 3323 44041

CDBIOECS Tech/Voc Projects 0 - - 1 500 450 50 :4000 3000 1000 1Drainage at Teachers College 1 0 - - 11 50 - 50: 0 - -

Extension to Ministry of Education 0 - - 1 260 - 260 0 - -

General Science Laboratory - GHS 1550 - 550: 0 - - 1 0 - -:Home Economics Centres 1 0 - - .1 99 - 99 0 - -

Improvements to Schools 1986/87 Go80 - 800 11600 - 1600 :755 - 755Improvements to Schools 1987/89 1250 - 250 :1750 - 1750 1 2649 - 2649 KingstoNn Prisary Sch. Construction Bo80 800 - 12200 2200 - I 218 218 -

Student Loans 1100 100 - I100 100 - i 105 105 -

HEAL.TH & SANITATION 250 0 250 :1337 637 700 :3342 3000 3421

Bulldozer - Public Health Dept 1 0 - -: 0 - - : 0 - -

Cell Counter - Kingstawn Hospital : 0 - -1 0 - -: 0 - -:Construction of Clare Valley Clinic : 0 - :137 137 - : 0 - -

Health Facilities Improvement 87/88 I11 10 0 100 1 200 - 200 :342 - 342 Improvements to Health Facilities :150 - ISO: 150 - 150 0 - -Kingstaon Hospital Redevelopment II 0 - 1500 500 - i3000 3000 -

Land Purchase - KingstoNn Hospital I : 0 - -1 0 - -: o - -:Purchase of Garbage Truck i 0 - -: 75 - 75s 0 - -

Vehicles - Vector Control Programme 1 0 - - 0 - - I 0 - -I

I-Ray Machine - Kingstown Hospital 1 0 - -I275 - 275 ': 0 - - I

- 65 - p 3 o 3

Table S.6s ST. VINCEIT - ULIC SECTOR IINESTIENT POlO

IEC$ '000)

1987 1 19 1919

SECTORITITLE t ---1------Total External LK&al Total External Local Total External Local t

IIOUSIN1 200 0 200 4540 4050 490 2700 2600 100___ --- -- - I--- - :- :… …

Building Purchase Comunity Purposes 0 - - I 140 - 140 0

Land Acquisition - Housing/Clinic I 0 - - 50 - SO 0

Lou Cost Housing Schme 200 - 200 :300 3550 250 1600 1600

Los Income lortgage Financing 0 - - 50 500 50 1100 1000 100

SOCIAL DEVELOPIENT 754 154 01 250 0 2501 0 0 01

__ ___ ___I--- --- -- --- --- --- :- - --- ----

Comunity Development 1995/96 0 - - 0 - - 0 - -

Comunity Developeent 1986187 754 754 - 0 - -I 0 - -

Post Office/Library/Day Care Centre 0 - - 150 - 150 I 0 - -

Youth Centre - Capdn Park 0 - - 1 100 - 100 0 - -

OTHER ECONIOIC 12213 1100 1113 14840 4500 340 4050 3850 200 1

Consolidated Line of Credit I 200 200 - 1 450 450 - 250 jO -

Gerean Butters Troumaca/Olfia 0 - - 1 100 - 100 200 - 200 1

6renadines Nulti-project 500 - 500 2900 2700 200 3600 3600 -

Land Acquisition (Housing) 195 - 1951 0 - - 0 - -

Restoration of Flood Damage 1000 900 100 390 350 40 1 0 a

Rith ond Land Settlement lnfrastr. 1 53 - 53 1 - - 0 O - -a

Sea and River Defences 265 - 2651 0 - - I 0 - I

Waterfront Devt. Port Elizabeth - I I 0 - - 11000 1000 - O 0 - I

OTHER 6411 5126 1265 1 5967 100 5667 1600 600 30001

Coastguard Base I 0 - - I 0 - 500 500

Coastguard Boat 5000 5000 - 0 - - O 0 -

District Post Offices 93 - 93 1 50 - 50 0 -

Eqpt./Vehicle/Generator NBC Radio 1 0 - - I 100 - 100 0 -I

Equipsent for Govt. Printery 0 - - ! 400 - 400 0 -

Equipment - Data Processing Dept 60 - 60 0 - 0 -

Extension to flinistry of Education 0 - - 260 - 260 0 -

Finance Office Complex 500 - 500 3100 - 3100 3000 - 3000 1

lprovements to Public Works Dept 1 76 - 76 0 - 0 - -

NcN Office Complex 150 - 150 110 - 110 1 0 - -

Miscellaneous Small Projects* 100 100 - 1 100 100 - 100 100 - I

NItional Documentation Centre 16 16 - 0 - -0 0 - - I

Office lmprovesent - NTAC 1 50 - 50 30 - 301 0 - -

Oven and 6enerator for Prison 1 50 - 50 109 109 0 a

Purchase of Ne Computer 0 - - 1533 15331 0 - -

Purchase of Police Radios i 10 10 - 0 0 - 1 0 - -

Refurbishment of Peace lemorial Hall 1 0 - - 0 - - 0 - -

Renovation 6eorgetoun Revenue Office 0 - - 150 - 150 1 0 - -

Renovation of Government Hois 1 41 - 41 0 - 0 - -

Renovation of Prisons 1 100 - 1001 25 - 25 0 - -

Soil Investi%ation - Reclamation 0 - - 0 - 0 - -

Victoria Park Storage Facility 1 165 - 165 0 0 - - 1 0 - a

TOTAL 160490 45870 14620 161269 40041 21228 159820 46397 12423

Source: Central Planning Unit, Ninistry of Finance.

- 66 -Table 6.1: ST. VINCENT AND THE GRENADiNES - CONSOLIDATED CONERCIAL DANK OPERATIONS a/

(1979-86)

(ECU sillion)

December 31

1979 1980 1981 1982 1983 1984 1985 1986

Net foreign assets 6.7 3.4 9.3 -7.3 -3.9 7.8 28.0 59.5

Assets 33.3 35.0 42.3 35.5 30.3 45.1 59.7 94.6Foreign currency holdings 1.9 2.6 1.9 1.5 1.7 1.6 1.8 2.0Claies on ECCD 15.2 11.2 13.2 8.0 4.0 22.4 26.3 41.9o.u.: currency holdings 3.6 4.2 3.9 4.0 4.0 5.7 5.8 6.4Claims on ECCB area banks 7.3 11.0 16.7 12.6 8.6 5.9 7.8 9.6Claiis on banks abroad 4.1 6.8 7.2 10.0 6.6 8.5 9.3 20.5Other lending to nonresidents 4.8 3.4 3.3 3.4 9.4 6.5 14.5 21.6Liabilities 26.6 31.6 33.0 42.9 34.2 37.3 31.7 35.1Balance due to ECC8 0.0 0.0 1.3 5.7 1.9 2.1 0.0 0.0Balance due to ECCB area banks 1.3 2.2 1.1 2.7 2.4 0.5 3.2 0.1Balance due to banks abroad 6.2 5.5 7.4 6.4 5.4 6.7 0.7 2.3Nonresident deposits 19.1 23.9 23.2 28.0 24.5 28.0 27.8 32.7Demand 2.4 4.3 3.9 3.8 3.6 4.6 5.3 7.5Savings 13.6 15.1 16.0 19.6 16.8 17.5 14.4 16.0Time 3.1 4.5 3.3 4.6 4.1 5.9 9.1 9.2

Net domestic assets 53.6 62.7 66.3 97.6 94.8 94.9 90.1 79.9

Net credit to Central Government 11.2 6.8 8.4 14.9 15.2 6.8 6.4 21.7Treasury bills 0.0 0.0 0.5 1.0 1.0 1.0 1.0 1.0Debentures 0.7 0.7 1.1 0.6 5.6 5.4 5.4 5.5Loans I advances incl. overdraft 8.9 4.1 4.7 11.0 6.7 4.2 3.2 25.6Special deposit requirement bl 1.9 2.1 2.3 2.5 7.7 0.0 0.0 0.0Government deposits 1) -0.3 -0.1 -0.2 -0.2 -5.8 -3.8 -3.2 -10.4Net credit to other public sector -10.4 -7.4 -5.0 -0.4 -0.9 3.8 -1.3 -26.8Credit 9.5 11.6 19.2 30.5 35.4 44.0 45.0 21.9Deposit I-) -19.9 -19.0 -24.2 -30.9 -36.2 -40.2 -46.3 -49.7Net credit to nonbank financialintermediaries -2.2 -2.9 -4.2 -5.4 -4.1 -5.1 -5.0 -4.2Credit 0.3 0.3 0.6 0.9 0.7 0.8 0.4 1.2Deposit H-) -2.5 -3.1 -4.9 -6.3 -4.8 -5.9 -5.4 -5.4Credit to private sector 55.3 68.0 73.3 94.0 97.5 104.6 107,4 108.2Interbank float 1.0 0.6 -1.5 2.3 0.3 0.9 0.5 3.2Claims 1.2 2.9 4.0 7.7 1.4 2.0 1.9 4.6Liabilities 0.2 2.2 5.5 5.4 1.1 1.1 1.4 1.4Net unclassified assets -1.3 -2.5 -4.7 -7.9 -13.3 -16.1 -17.9 -22.3MILT foreign liabilities - - - - - - -5.9 -7.3

… … _ _ _ _ _ _ _ -----Liabilities to private sector c/ 61.0 66.1 75.6 80.3 90.9 102.7 112.7 131.7

… … _ _ __ _ _ _ _Demand deposits 11.6 12.2 14.1 13.3 15.1 20.7 16.5 17.4Savings deposits 34.1 38.9 43.0 42.8 48.6 51.3 61.1 71.2Time dcposits 15.3 15.1 18.5 24.2 27.2 30.7 35.1 43.1

…--- --- _ ------------------------… _a/ Includes operations of the Barclays Bank, the National Commercial Bank, the Caribbean Banking Corporation,the Bank of Nova Scotia, and the Cdnadian Imperial Bank of Commerce.

b/ As of September 1993, the special deposit requireeent for commercial banks was increased from 2.5Zto 7.501 of the total deposits.

c/ Includes resident deposits in foreign currencies.

Sources: Eastern Caribbean Central Dank, commercial banks, and IMF staff estimates.

- 67 -

Table 6.2: ST. VINCENT AND THE GRENADINES - FOREIGN COMMERCIAL BANK OPERATIONS a/(1979-86)

(ECS million)

December 31

1979 1980 1981 1982 1983 1984 .1985 1986

Net foreign assets 0.5 0.3 8.2 -3.7 -9.0 5.4 12.1 24.0

Assets 26.4 29.6 38.7 31.7 20.8 37.6 39.4 55.7

Foreign currency holdings 1.8 2.2 1.5 1.4 1.4 1.4 1.1 1.4

Claims on ECC8 14.3 10.0 12.8 7.3 3.2 20.7 22.7 33.7

o.w.X currency holdings 3.3 3.4 3.5 3.3 3.2 4.6 4.7 4.6

Claims on ECCB area banks 7.3 11.0 16.7 12.5 8.6 5.9 6.7 8.5

Claies on banks abroad 3.0 4.4 6.2 8.3 5.2 8.0 4.8 3.9

Other lending to nonresidents 0.0 1.0 1.5 2.2 2.4 1.6 4.1 8.3

Liabilities 25.9 28.3 30.5 35.4 29.8 32.2 27.3 31.7

Balance due to ECC8 0.0 0.0 0.9 1.1 0.0 0.0 0.0 0.0

Balance due to ECCB area banks 1.3 2.2 1.1 2.7 2.4 0.5 2.2 0.1

Balance due to bahks abroad 5.9 5.1 7.4 6.2 5.1 6.6 0.6 ?.2

Nonresident deposits 18.7 21.0 21.1 25.4 22.3 25.1 24.5 29.4

Demand 2.2 2.0 2.6 2.6 2.1 2.5 3.5 5.6

Savings 13.6 15.1 16.0 19.6 16.8 17.5 14.4 16.0

Time 2.9 3.9 2.5 3.2 3.4 5.1 6.6 71.

Net dosestic assets 54.8 59.3 59.1 70.5 93.9 77.4 76.9 79.2

Net credit to Central Government 3.6 3.8 4.3 8.8 13.3 4.8 3.7 2.7

Treasury bills 0.0 0.0 0.5 1.0 1.0 1.0 1.0 1.0

Debentures 0.7 0.7 1.1 0.6 1.5 1.3 1.3 1.3

Loans I advantes incl. overdraft 1.3 1.1 0.5 4.7 3.7 2.6 1.5 0.5

Special deposit requiresent bl 1.9 2.1 2.3 2.5 7.7 0.0 0.0 0.0

Government deposits (-) -0.3 -0.1 -0.1 0.0 -0.6 -0.1 -0.1 -0.1

Net credit to other public sector 1.6 -0.3 -0.3 -0.4 -0.3 -0.4 -0.4 -0.3

Credit 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0

Deposit (-) 0.0 -0.3 -0.3 -0.4 -0.3 -0.4 -0.4 -0.3

Net credit to nonbank financialintermediaries -1.9 -2.8 -3.5 -5.2 -4.1 -4.2 -5.0 -4.6

Credit 0.3 0.3 0.5 0.8 0.5 0.7 0.2 0.4

Deposit (-H -2.2 -3.1 -4.0 -6.0 -4.6 -4.9 -5.2 -5.0

Credit to private sector 50.9 58.8 60.3 65.0 76.8 80.0 81.6 84.7

Interbank float 0.6 0.5 -1.6 2.7 0.5 1.0 -0.1 2.1

Claims 0.8 2.5 3.8 7.3 1.0 1.3 1.1 3.2

Liabilities 0.2 2.0 5.4 4.6 0.5 0.3 1.2 1.1

Net unclassified assets - -0.7 -0.1 -0.4 -2.4 -3.8 -2.9 -5.4

Liabilities to private sector c/ 56.0 59.6 67.3 66.8 74.8 92.8 89.4 103.0

Demand deposits 10.8 11.3 13.2 11.3 13.6 18.0 14.0 14.5

Savings deposits 32.3 35.7 38.7 37.2 41.2 42.9 50.5 59.9

Time deposits 12.9 12.6 15.4 18.3 20.0 21.9 24.9 29.6

a! Includes operations of the Barclay's Bank, the National Commercial Bank, the Caribbean Banking Corporation

(formerly the Royal Bank of Canada), the Bank of Nova Scotia, and the Imperial Bank of Commerce.

b/ As of Septeeber 1983, the special deposit requirement for commercial banks was increased from 2.5%to 7.50Z of the total deposits.

cl Includes resident deposits in foreign currencies.

Sources: Eastern Caribbean Central Bank, commercial banks, and IMF staff estimates.

- 68 -

Table 6.3: ST. VINCENT AND THE GRENADINES - NATIONAL COMMtERCIAL BANK OPERATIONS a/--------- ~~~~~(1979-86)

(EC$ sillion)

December 31

1979 1980 1981 1982 1983 1984 1985 1986

Net foreign assets 6.2 3.1 1.1 -3.6 5.1 2.4 15.9 35.5

Special----- deostreureet-l- --- --- --- --- --- --- ---

Assets 6.9 6.4 3.6 3.8 9.5 7.5 20.3 38.9Foreign currency holdings 0.1 0.4 0.4 0.1 0.3 0.4 0.7 0.6Claims on ECCB 0.9 1.2 0.4 0.7 0.8 1.7 3.6 8.2o.w.: currency holdings 0.3 0.9 0.4 0.7 0.8 1.1 1.1 1.8

Claims on ECCB area banks - - - 0.1 - - 1.1 0.1Claims on banks abroad 1.1 2.4 1.0 1.7 1.4 0.5 4.5 16.7Other lending to nonresidents 4.8 2.4 1.8 1.2 7.0 4.9 10.4 13.3Liabilities 0.7 3.3 2.5 7.4 4.4 5.1 4.4 3.4Balance due to ECCB - - 0.4 4.6 1.9 2.1 - -Balance due to ECCB area banks - - - - - - 1.0 -

Balance due to banks abroad 0.3 0.4 - 0.2 0.3 0.1 0.1 0.1Nonresident deposits 0.4 2.9 2.1 2.6 2.2 2.9 3.3 3.3Demand 0.2 2.3 1.3 1.2 1.5 2.1 1.8 1.9Savings - - - - - - - -Time 0.2 0.6 0.8 1.4 0.7 0.8 1.5 1.4

Net domespic assets -1.2 3.4 7.2 17.1 11.0 17.5 13.2 0.6

Net credit to Central Government 7.6 3.0 4.1 6.1 1.9 2.0 2.7 19.0Treasury bills - - - - - -

Debentures - - - - 4.1 4.1 4.1 4.2Loans & advances inc. overdraft 7.6 3.0 4.2 6.3 3.0 1.6 1.7 25.1Special deposit requirement a/ - - - - - - - -Government deposits (-) - - -0.1 -0.2 -5.2 -3.7 -3.1 -10.3Net cr2dit to other public sector -12.0 -7.1 -4.7 0.0 -0.5 4.2 -0.9 -26.5Credit 7.9 11.6 19.2 30.5 3F,' 44.0 45.0 21.9Deposit -)-19.9 -18.7 -23.9 -30.5 -35.9 -39.8 -45.9 -48.-4Net credit to nonbank financialintermediaries -0.3 0.0 -0.7 -0.2 0.0 -0.9 0.0 0.4Credit 0.0 0.0 0.1 0.1 0.2 0.1 0.2 0.8Deposit -)-0.3 0.0 -0.8 -0.3 -0.2 -1.0 -0.2 -0.4Credit to private sector 4.4 9.2 13.0 19.0 20.7 24.6 25.8 23.5Interbank float 0.4 0.1 0.1 -0.4 -0.2 -0.1 0.6 1.1Claims 0.4 0.3 0.2 0.4 0.4 0.7 0.8 1.4Liabilities - 0.2 0.1 0.8 0.6 0.8 0.2 0.3Net unclassified assets -1.3 -1.8 -4.6 -7.4 -10.9 -12.3 -15.0 -16.9N&LT foreign liabilities - - -- - - -5.8 -7.3

Liabilities to private sector bI 5.0 6.5 8.3 13.5 16.1 19.9 23.3 28.7

Demand deposits 0.8 0.9 0.9 2.0 1.5 2.7 2.5 2.9Savings deposits 1.8 3.1 4.3 5.6 7.4 98.4 10.6 12.3Time deposits 2.4 2.5 3.1 5.9 7.2 8.8 10.2 13.5

a! The National Commercial Bank is exempt from the special deposit requirement.b/Includes resident deposits in foreign currencies.

Source: The National Commercial Bank (NCB).

- 69 -

Table 6.4: ST. VINCENT AND THE GRENADINES - DISTRIEUTION OF COMMERCIAL BANK LOANS AND ADVANCES TO THE PRIVATE SECTOR--------- (1977-86)

(ECS sillion)

Deceeber 31

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Total 38.3 51.3 59.8 67.4 89.8 109.9 127.9 143.1 161.2 165.6

Agriculture 2.1 2.7 3.3 7.7 6.1 9.3 9.7 12.4 11.7 11.0Manufacturing 5.6 8.3 7.7 10.2 14.4 19.9 28.1 28.5 30.1 9.5

Distributive trade 7.7 9.4 14.6 15.3 16.9 17.2 14.8 19.4 19.6 20.1Tourise ! 7 1.7 2.1 2.1 2.6 2.5 2.9 2.5 3.8 2.6

Transport ± 1 2.5 3.9 3.6 4.7 5.1 7.8 7.6 7.1 10.9Public utilities 0.6 1.5 2.1 4.8 3.9 4.6 5.5 5.3 6.2 5.7Building & construction 2.1 5.1 5.0 5.7 6.0 7.0 8.6 9.5 8.2 11.8Personal 14.2 16.9 16.3 10.0 25.6 28.7 33.0 35.7 38.5 45.5Other advances 2.6 3.2 4.9 8.0 9.6 15.6 17.5 22.2 36.0 48.5

(As Percent of Total)

Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Agriculture 5.5 5.3 5.5 11.4 6.8 8.5 7.6 8.7 7.3 6.6Manufacturing 14.6 16.2 12.9 15.1 16.0 18.1 22.0 19.9 18.7 5.7Distributive trade 20.1 18.3 24.4 22.7 18.8 15.7 11.6 13.6 12.2 12.1Tourise 4.4 3.3 3.5 3.1 2.9 2.3 2.3 1.7 2.4 1.6

Transport 4.4 4.9 6.4 5.3 5.2 4.6 6.1 5.3 4.4 6.6Public utilities 1.6 2.9 3.5 7.1 *.3 4.2 4.3 3.7 3.8 3.4

Building & construction 5.5 9.9 8.4 8.5 o.7 6.f 6.7 6.6 5.1 7.1Personal 37.1 32.9 27.3 14.8 28.5 26.1 25.8 24.9 23.9 27.5Other advances 6.8 6.2 8.2 11.9 10.7 14.2 13.7 15.5 22.3 29.3

a/ Includes loans to non-residents and non-bank financial institutions.bl The decline reflects the assumption by the Central Governsent of a loan previously contracted by the SugarCorporation.

- 70 -

Table 6.5: ST. VINCENT AND THE GRENADINES - INTEREST RAT[ STRUCTURE (1977-86)

(In Percent)

Deceaber 31

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Deposits

Savings 2.5 - 3 2.5 - 3 2.5 2.5-4.0 2.5-5.0 2.5-5.0 2.5-5.0 2.5-5.0 4.0-5.0 4.0-5.6Tise3 months 3.5 - 5 3.5 - 5 3.5 - 5 2.5-4.5 3.0-4.5 4.0-5.5 4.0-5.5 4.0-6.0 4.0-6.0 4.0-6.03-6 months 4 - 5.5 4 - 5.5 4 - 5.5 3.5-5.0 3.5-5.5 4.0-6.5 4.0-6.0 4.0-6.5 4.0-6.5 4.0-6.56-12 months 4 - 6 4 - 6 4 - 6 3.5-5.5 3.5-6.0 4.0-8.0 4.5-7.5 4.5-7.5 4.5-7.5 4.25-7.5

Lending

Prime rate a/ 8.5-9.0 8.5 - 9 8.5 - 9 8.0-10.0 8.0-10.0 9.0-10.0 9.0-12.0 9.0-12.011.0-12.511.0-12.5Other ... ... ... 9.0-14.5 9.0-14.510.0-14.S10.5-14.511.0-14.511.0-15.511.0-15.5Certain consumerloans underECS14,500 ... ... ... ... 14.5 14.5 14.5 14.5 14.5 14.5

a/ Refers to the prime rate charged by foreign-owned commercial banks.

Sources: The Barclay's Bank, the National Comsercial Bank, the Caribbean Banking Corporation, the Canadian

- 71 -

Table 6.6: St. Vincent anJ the Grenadines - Eastern Caribbean Central Bank (1979-86)

(ECS sillion)

December 31

1979 1980 1981 1982 1983 1984 1985 1986

Net international reserves 1b7.0 145.2 146.3 132.4 133.6 208.3 269.2 382.5

Assets 210.6 212.3 181.4 133.8 136.1 210.8 275.2 387.9Current assets & soney at call 139.3 93.9 81.5 15.9 12.1 105.7 122.6 142.9Regional notes in process of redemption 5.7 b.2 2.8 3.2 0.6 1.4 3.5 2.4Other securities a/ 65.6 112.2 97.1 114.7 123.4 103.7 149.1 242.6Liabilities 43.6 67.1 35.1 1.4 2.5 2.5 6.0 5.4Balances due to banks abroad b/ 43.2 67.1 32.6 0.0 1.3 2.3 5.8 5.2Nonsonetary .nter'l organization 0.4 0.0 2.5 1.4 1.2 0.2 0.2 0.2

Net claims in banks in ECCB area -89.2 -61.6 -55.3 -46.3 -50.6 -188.3 -237.4 -324.3

Assets 8.7 6.5 7.2 11.2 8.3 7.9 2.3 3.0Loans to commercial banks 6.5 4.2 4.8 8.6 5.4 5.7 2.3 3.0Deposits with commercial banks 2.2 2.3 2.4 2.6 2.9 2.2 - -Liabilities 97.9 68.1 62.5 57.5 58.9 196.2 239.7 327.3Currency: notes and coins 24.0 26.5 23.2 28.4 29.3 40.8 45.8 43.9Statutory reserve requirement 0.0 0.0 0.0 0.0 0.0 48.4 60.9 79.1Statutory deposits c/ 0.0 0.0 0.0 0.0 0.0 27.9 22.1 15.1Deposits 73.9 41.6 39.3 29.1 29.6 79.1 110.9 189.2

Demand 7.9 12.9 13.1 17.8 22.9 28.6 34.3 54.3Fixed 66.0 28.7 26.2 11.3 6.7 50.5 76.6 134.9

Net domestic assets 13.7 21.6 20.9 25.9 32.4 109.1 108.2 109.4

Central Governmei,t (net) 33.5 40.3 45.9 53.2 56.0 140.5 145.5 153.8Treasury bills 19.4 23.3 26.5 34.6 37.4 37.8 41.4 41.4Debentures 14.1 17.0 19.4 18.6 18.6 18.6 19.6 26.2Temporary advances 0.0 0.0 0.0 0.0 0.0 8.4 8.8 10.5Other claims 0.0 0.0 0.0 0.0 0.0 75.7 75.7 75.7

Net unclassified assets -19.8 -18.7 -25.0 -27.3 -23.6 -31.4 -37.3 -44.4

Currency in circulation 91.5 97.5 111.9 111.7 115.2 129.1 140.0 167.7

Estimated notes & coins issued 112.9 121.4 132.5 137.5 141.9 167.3 183.2 209.0Currency holdings of commercialbanks (-) -24.0 -26.5 -23.2 -28.4 -29.3 -40.8 -45.8 -43.9Estisated coins in former mesbercountries (BCCB coins) d/ 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6

a/ Includes, in 1982 and 1983, credit balance with the CARICOM Multilateral Clearing Facility (CHCF).b/ "Abroad" meaning outside ECCB area. Includes debt balances with CHCF.c/ From March 15, 1984, required reserves of commercial banks have been held with the ECCB.d/ BCCB refers to the British Caribbean Currency Board.

Source: Eastern Caribbean Central Bank.

-72-

Table 6.7: St. Vincent and the Grenadines - ECCB OPERATIONS IN ST. VINCENT(1982-86)

(ECS million)

December 31

1982 1983 1984 1985 1986

Net (imputed) international reserves a/ 12.8 14.4 25.5 39.6 69.7

Net claims an cosmercial banks -2.3 -2.1 -20.0 -25.3 -43.8

Claims 5.7 1.9 2.4 1.0 0.0Loans ... 1.9 2.4 1.0 -Balances with banks - - - -Liabilities 8.0 4.0 22.4 26.3 43.8Currency 4.0 4.0 5.7 5.8 6.4Statutory reserve requirements b/ - - 6.1 8.2 11.3Statutory deposits bl - - 2.1 1.7 0.9

Deposits 4.0 - 8.5 10.l 25.2

Current deposits - - 3.8 4.1 5.7

Fixed deposits 4.0 - 4.7 6.5 19.5

Net domestic assets 7.0 7.8 17.0 17.8 15.5

Net credit to Central Governeent 7.0 7.8 17.0 17.8 15.5Treasury bills 5.9 5.9 5.9 5.9 5.9Debentures 1.1 1.9 1.9 1.9 1.9Temporary advances - - 1.6 2.4 0.1

Other claims b/ - - 7.6 7.6 7.6

Liabilities to the private sector 17.5 20.1 22.5 32.1 41.4

Estiaated currency in circulation 17.5 20.1 22.5 32.1 41.4Total currency issued 21.5 24.1 28.2 37.9 47.8Currency held by banks (-) -4.0 -4.0 -5.7 -5.8 -6.4

a/ Refers to the imputed share of St. Vincent and the Grenadines in the netinternational reserves of the ECCB.

b/ From March 15, 1984, required reserves have been held with the ECCB;prior to that date, they were held with member governments.

Sources: Eastern Carbbean Central Bank; and commercial banks.

- 73 -

Table 7.1: ST. VINCENT AND THE GRENADINES - ESTINATFD PRODUCTION OF MAJOR COMMODITIES-------- (1979-86)

(In thousands of pounds, unless otherwise indicated)

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986

Agriculture crops

Arrowroot rhizomes ... ... 11,946 12,501 12,934 16,846 19,399 5,491 2,252 1,651Bananas a/ 63,000 71,934 63,028 46,145 73,240 59,205 62,478 73,965 92,228 87,860Cassava ... ... 794 893 1,000 1,182 1,192 975 850 893Citrus fruits ... ... 1,000 900 850 900 1,050 1,192 1,050 642Coconuts ('000 nuts) 12,000 16,000 14,296 10,738 9,924 10,519 9,158 12,224 12,300 12,915Eddoes and dasheen 3,000 4,395 3,299 4,031 6,029 12,000 18,581 35,424 55,717 52,075Ginger 1,321 ',915 2,635 1,200 2,000 286 384 271 796 958Mangoes 3,810 3,809 3,810 1,269 3,810 6,000 5,000 6,460 6,650 2,802Peanuts 56 151 101 100 400 400 360 186 99 67Plantains 926 1,830 2,411 3,231 11,200 4,383 3,247 6,833 9,288 10,788Sugarcane (MT) - - - - 8,500 30,035 33,610 35,260 - -Sweet potatoes 1,686 3,493 3,200 4,652 3,016 3,197 2,390 5,108 18,764 24,779Tannias 1,494 1,900 1,500 1,500 1,500 4,556 6,523 14,356 20,579 21,095Tobacco 28 84 161 190 218 219 165 91 161 146Yams 1,310 1,000 1,000 1,000 1,000 2,047 2,758 8,319 8,600 1,265

Manufactured comaodities

Animal feed - - 15,200 17,233 - 21,781 25,275 27,732 28,195 24,201Arrowroot starch 1,487 1,838 1,493 1,562 1,616 2,110 2,208 1,725 955 693Flour - - 48,302 48,252 43,426 44,988 43,899 49,274 53,710 44,202Galvanized metal sheets('000 feet) - - - - 100 2,524 4,888 6,655 2,005 1,954Sugar (MT) - - - - 531 1,880 2,307 2,746 - -

a/ Data derived from St. Vincent Banana Growers' Association.

Source: Ministry of Finance, Planning and Development Statistical Unit.

- 74 -

Table i.2: ST. VINCENT AND THE GRENADINES - SELECTED TOURISM DATA--------- (1978-86)

1978 1979 1980 1981 1982 1983 1984 1985 1986

Total number of visitors 48,826 56,186 78,015 71,475 69,031 74,296 92,229 78,477 83,637

Air 34,266 41,227 48,055 47,769 46,173 47,405 47,427 52,696 55,849Hotel/guest houses 13,736 16,093 19,627 19,385 16,927 17,107 15,506 15,979 15,900Cottages/private houses 14,962 16,708 18,803 20,231 20,152 20,598 22,955 26,120 26,194Excursionists 5,568 8,426 9,625 8,153 9,094 9,700 8,968 10,597 13,755Sea 14,560 14,959 29,960 23,706 22,858 26,891 44,802 25,781 27,788Cruise ships a/ 13,577 13,472 28,261 21,743 18,766 22,386 41,595 22,078 24,777Yachts 983 1,487 1,699 1,963 4,092 4,505 3,207 3,703 3,011

Weighted days of stay per

visitor b/ 5.86 6.18 5.36 6.59 6.82 6.56 5.47 6.81 6.55

Hotel/guest houses 9 9 9 9 9 9 9 9 10Cottages/private houses 9 10 10 12 12 12 12 12 12Yachts 9 9 9 12 12 12 12 12 12

Volume of visitors

(thousand days) 286.3 347.2 417.9 470.7 471.1 487.3 504.0 534.4 547.8

Weighted daily expenditure

per visitor (US dollar) ... ... 30.27 30.66 32.70 31.86 32.84 35.28

Hotel/guest houses ... ... ... 58 62 67 72 77 81Cottages/private houses ... ... ... 13 14 15 15 15 15Yachts: In hotels c/ ... ... 58 62 67 72 77 79

On boats ... ... ... 13 14 15 15 15 16Excursionists ... ... ... 22 25 26 26 26 26Cruise ships and others ... ... ... 22 25 26 26 26 26

Total expenditure by visitor

(millions of US dollars) ... ... ... 14.2 14.4 15.9 16.1 17.5 19.3

a/ Obtained from data on cruise ship passengers with the assumption that only 651 of them disembark.b/ Assumes that excursionists and cruise ship visitors spend a day on the island.c/ Assumes that visitors arriving by air for yachting spend on average two nights in hotels and the resainderon boats.

Source: Tourist Board and mission estimates.

- 75 -

Table 7.3: ST. VINCENT AND THE GRENADINES - FUEL CONSUMPTION (1978-86)

1978 1979 1980 1981 1982 1983 1984 1985 1986

Gasoline ('000 gallons) 1,463 1,342 1,257 1,i10 1,981 1,748 1,800 1,747 2,335

Aerosine ('000 gallons) 367 388 259 231 292 251 237 196 221

Diesel ('000 gallons) 1,425 1,903 1,879 1,705 2,483 2,414 2,664 2,528 i,133

Natural gas (tons) a/ 6i9 67h 1,387 2,035 1,385 1,349 1,687 1,619 2,108

Electricity (awh) 23,274 25,724 26,972 28,291 30,369 31,047 33,702 37,865 40,370Commercial 5,750 6,210 6,088 6,403 u,303 8,145 9,175 10,050 11,317Domestic 8,412 9,668 9,124 9,759 10,514 10,292 11,522 12,741 13,778Industrial 2,574 3,247 3,332 3,236 3,440 3,227 3,934 4,678 4,707Street lighting 1,37b 1,500 1,655 1,597 413 416 515 567 589

Other 915 1.008 1,060 1,059 660 744 720 1,286 1,336Transmission loss 4,247 4,091 5,713 6,237 7,039 8,223 7,836 8,543 8,583

a/ Tons of crude oil equivalent.

Sources: Statistical Unit and Energy Unit of the Ministry ot Finance, Planning and Development.

- 76 -

Pg 1 of 2Table 8.1: ST. VINCENT AND THE GRENADINES - CONSUMER PRICE INDEX

--------- (1979-86)

Old Series (1964 100) New, Re-weighted Series (Jan. 1981 = 100)

1979 1980 1981 1981 1982 1983 1984 1985 1986

Period Averages

All items 400.9 469.9 529.7 106.6 114.4 120.6 123.9 126.4 127.9

Food and beverages 397.7 455.0 509.9 105.6 110.6 116.4 118.0 117.3 119.0Tobacco and alcohol 357.0 408.1 496.4 105.8 118.2 122.1 125.2 128.0 134.0Clothing and footwear 482.3 529.5 664.0 105.1 119.8 124.9 123.7 122.9 128.5Housing 353.7 452.2 530.5 106.4 108.0 119.5 135.5 173.8 174.1Fuel and light 454.9 512.4 579.0 113.4 118.3 129.2 135.1 141.2 135.8Furniture 467.5 565.4 717.8 102.3 110.7 116.5 121.4 121.4 120.2Household supplies .. .. .. 113.8 138.8 145.2 147.5 142.0 128.0Transport & communications 360.2 418.7 461.7 108.5 120.0 120.3 122.2 123.0 144.9Other services .. .. .. 109.3 128.3 134.6 143.8 149.1 146.9

Percent Changes

All items 15.6 17.2 12.7 . 7.3 5.4 2.7 2.0 1.2

Food and beverages 12.2 14.4 12.1 . 4.7 5.2 1.4 -0.6 1.4Tobacco and alcohol 15.5 14.3 21.6 . 11.7 3.3 2.5 2.2 4.7Clothing and footwear 34.0 9.8 25.4 . 14.0 4.3 -1.0 -0.6 4.6Housing 15.0 27.8 17.3 . 1.5 10.6 13.4 28.3 0.2Fuel and light 30.1 12.6 13.0 . 4.3 9.2 4.6 4.5 -3.8Furniture 9.1 20.9 27.0 . 8.2 5.2 4.2 0.0 -1.0Household supplies .. .. .. . 22.0 4.6 1.6 -3.7 -9.9Transport & communications 16.4 16.2 10.3 . 10.6 0.2 1.6 0.7 17.8Other sprvices .. .. .. . 17.4 4.9 6.8 3.7 -1.5

End of Period

All items 430.4 511.7 556.8 111.7 117.1 123.1 125.7 127.3 128.0

Food and beverages 415.6 514.7 528.2 109.1 113.5 119.5 117.0 118.6 119.3Tobacco and alcohol 375.4 433.9 500.8 114.1 120.9 123.6 128.0 130.0 136.3Clothing and footwear 496.4 556.6 687.7 115.8 120.8 126.0 123.3 125.2 130.4Housing 436.1 477.1 549.6 107.9 108.0 123.4 171.9 174.4 173.4Fuel and light 521.5 583.2 659.3 117.3 121.8 128.1 133.9 141.9 136.0Furniture 515.4 601.5 741.9 103.2 114.4 121.9 115.9 121.6 118.7Household supplies .. .. .. 130.1 142.4 146.5 147.6 13' 121.0Transport & communications 383.5 447.6 494.3 119.0 121.7 120.7 121.8 l..j 145.9Other services .. .. .. 117.3 133.5 136.4 149.3 147.9 146.6

- 77 -

Pg 2 of 2

Table 9.1: ST. VINCENT AND THE GREWADINES - CONSUHER PRICE INDEX

__------ _(1979-86)

Old Series (1964 -100) New, Re-weighted Series (Jan. 1981 = 100)

1979 1980 1981 1981 1982 1983 1984 1985 1986

Percent Changes

All items 17.5 1P.9 8. 8 4.8 5.1 2.1 1.3 0.5

Food and beverages 11.9 23.8 2.6 4.0 5.3 -2.1 1.4 0.6

Tobacco and alcohol 12.1 15.6 15.4 6.0 2.2 3.6 1.6 4.8

Clothing and footwear 8.4 12.1 23.6 . 4.3 4.3 -2.1 1.5 4.2

Housing 41.2 9.4 15.2 0.1 14.3 39.3 1.5 -0.6

Fuel and light 31.6 11.8 13.0 3.8 5.2 4.5 6.0 -4.2

Furniture 15.3 16.7 23.3 10.9 6.6 -4.9 4.9 -2.4

Household supplies .. .. . 9.5 2.9 0.8 -8.5 -10.4

Transport I comeunications 23.4 16.7 10.4 2.3 -0.8 0.9 2.6 16.7

Other services .. .. . 13.8 2.2 9.5 -0.9 -0.9

Source: Statistical Unit, Ninistry of Finance, Planning and Developeent.

-,78 -Pg.1 of 2

Table 8.2: ST. VINCENT AND THE GRENADINES - EXCHAN6E RATE NOVEHENTS(1978-86)

Indices 1980 =100

Noainal RealUnits per EC5 Effective Effective

------------------------- Exchange ExchangeSDR USS L Rate a/ Rate b/

Quarterly average

1978 - I 0.303 0.370 0.192 105.1 100.311 0.302 0.370 0.202 106.8 101.1III 0.293 0.370 0.192 105.2 99.7IV 0.285 0.370 0.186 104.4 100.9

1979 - I 0.287 0.370 0.184 104.9 101.811 0.290 0.370 0.178 103.2 100.7III 0.284 0.370 0.166 101.1 98.9IV 0.284 0.370 0.171 102.3 101.5

1980 - I 0.284 0.370 0.164 101.0 100.411 0.285 0.370 0.162 100.6 99.4III 0.280 0.370 0.155 99.1 98.4IV 0.288 0.370 0.155 99.4 101.9

1981 - I 0.298 0.370 0.160 100.7 104.911 0.313 0.370 0.178 104.3 110.5III 0.326 0.370 0.201 108.6 114.3IV 0.317 0.370 0.196 107.3 113.0

1982 - 1 0.326 0.370 0.200 107.8 107.911 0.331 0.370 0.209 109.3 108.5III 0.341 0.370 0.214 110.5 110.7IV 0.343 0.370 0.224 111.8 111.0

1983 - I 0.339 0.370 0.241 114.0 112.911 0.344 0.370 0.238 113.7 112.8III 0.351 0.370 0.245 114.9 113.4IV 0.352 0.370 0.252 116.1 113.8

1984 - I 0.353 0.370 0.258 117.5 113.611 0.354 0.370 0.265 118.9 113.2III 0.364 0.370 0.285 122.0 115.3IV 0.372 0.370 0.304 124.6 118.2

1985 - I 0.382 0.370 0.332 128.5 120.411 0.373 0.370 0.294 124.2 115.3III 0.360 0.370 0.269 120.7 110.9IV 0.343 0.370 0.258 119.7 109.2

- 79 -Pg.2 of 2

Table 8.2: ST. VINCENT AND THE GRENADINES - EXCHAN6E RATE MOVEMENTS(1978-86)

Indices 1980 =100

Noeinal RealUnits per ECS Effective Effective

------------------------- Exchange ExchangeSDR USS L Rate a/ Rate b/

1986 - I 0.329 0.370 0.257 125.5 114.6II 0.319 0.370 0.245 123.4 112.4III 0.308 0.370 0.248 123.4 110.9IV 0.307 0.370 0.259 124.7 110.5

Annual average

1978 0.296 0.370 0.193 105.4 100.51979 0.286 0.370 0.175 102.9 100.71980 0.284 0.370 0.159 100.0 100.01981 0.314 0.370 0.184 105.2 110.71982 0.335 0.370 0.212 109.9 109.51983 0.347 0.370 0.244 114.7 113.21984 0.361 0.370 0.278 120.8 115.11985 0.365 0.370 0.288 123.3 114.01986 0.359 0.370 0.274 121.5 111.8

a/ Based on the shares of St. Vincent and the Grenadines' main trading partnersin domestic exports, imports, and tourism.

b/ Deflated by the relative consumer price indices.

Sources: IMF, International Financial Statistics; and IMF staff estimates.

NIOTES

| B~~~~~~~~MP SECTIONI

I

I

IBRD 13500RAPRIL 1950

ST VINCENT .

ST VINCENT & THE GRENADINES'4,

vSulh rIondLevel

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Main Roads a

- Secondary Roads a

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O Towm < t s ~ ~~~~~~~~~~~~~~~~~ WaterlooA0 Towns

- Parish Boundories RrChanad IR.,mrs

5 \ tongb~~~~~~~~~~~~~~~~~ly Park

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Prospect

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61-230 61' 15 61-10 61-05