IMF Commends Antigua and Barbuda’s Fiscal Turnaround

The Government of Antigua and Barbuda has received strong international endorsement for its economic management, with the International Monetary Fund delivering a highly favourable assessment of the country’s fiscal performance.

Prime Minister and Minister of Finance Gaston Browne disclosed that during a recent high-level meeting with international financial partners, senior officials expressed satisfaction with the government’s stewardship of the economy and the positive trajectory reflected in key economic indicators.

The meeting, held last Friday, included representatives from the Caribbean Development Bank, whose desk officer for Antigua and Barbuda praised the significant turnaround in the nation’s finances—particularly over the past three years.

According to Prime Minister Browne, the international partners acknowledged that Antigua and Barbuda has moved away from years of persistent fiscal deficits and is now recording measurable progress, supported by improving macroeconomic data. He noted that the IMF’s latest report was broadly commendatory, citing steady growth, improved fiscal discipline, and enhanced economic stability.

The IMF has projected economic growth of approximately three percent. While this is below the government’s own forecast of at least five percent, Prime Minister Browne emphasized that it still outperforms growth expectations for many Caribbean economies.

Particular attention was also drawn to the government’s success in reducing debt levels. Debt-to-GDP has fallen from over 100 percent to about 67 percent, with government projections indicating a further decline toward the 60 percent range. Additionally, the country has recorded fiscal surpluses in several areas, while inflation has continued to trend downward.

Despite the positive outlook, Prime Minister Browne acknowledged that longstanding obligations—such as Paris Club debt dating back decades—remain unresolved and continue to present challenges.

Nevertheless, he maintained that the overall assessment was clear. “All the key indicators used to measure economic growth and stability are positive,” the prime minister said, adding that Antigua and Barbuda’s economy is now performing strongly by international standards.