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Saint Kitts and Nevis

Yearbook 2012

Saint Christopher and Nevis. In May, the Paris Club lenders promised to rewrite the loans to Saint Christopher and Nevis, which lowered interest costs by 90%. According to countryaah, the decision was a result of the small island nation in July 2011 having entered into a loan agreement with the International Monetary Fund (IMF). In July, the next good financial news came. Then the United Kingdom agreed to write off all the country's loans to its former colony. It was a welcome decision for Saint Christopher and Nevis, which has long been drawn with large external debt, which was partly due to the fact that the state used to subsidize the unprofitable sugar industry. The British Minister for International Development, Alan Duncan, said the decision was due to Saint Christopher and Nevi's government demonstrating good financial governance, with convincing efforts to fight poverty and the pursuit of a sustainable economy.

2012 Saint Kitts and Nevis
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