Antigua & Barbuda Prime Minister Browne Refutes IMF Economic Outlook

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ANIIGUA-Prime Minister Gaston Browne says despite what the IMF said in their article four consultation report, the Antigua and Barbuda economy is doing much better than it did last year and even the year before.

The IMF says the twin island states economic outlook deteriorated since the last Article IV Consultation which would have been in 2016.

The IMF also noted that the government’s reluctance to implement its recommendations had worsened the already difficult macro-economic situation.

But the prime minister tells OBSERVER Media that he didn’t wish to comment further on the document, saying it doesn’t represent a true reflection of the country’s economy.

He ended his brief remarks by saying that his Antigua Barbuda Labour Party has been putting measures in place to bolster the economy.

Some of the IMF directors also underscored that volatile CIP revenues are better used for reducing liabilities rather than for recurrent budget expenditures.

The IMF has also criticized the repeal of the personal income tax, considering Antigua and Barbuda’s ongoing fiscal challenges.

For the second time in two years, the Antigua and Barbuda government has denied the International Monetary Fund – the IMF – permission to publish the report coming out of its assessment of the country’s economy.

According to the IMF the authorities need more time to consider the publication of the staff report.

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