The International Monetary Fund (IMF) has warned that a disorderly restructuring of the sugar sector would have major economic and social costs.
According to a report prepared following an Article IV IMF mission in May, central government’s deficit is projected to widen to 5.4 and 5.1 percent of GDP in 2018 and 2019 due to the cost of restructuring the sugar sector and an increase in infrastructure related capital expenditure.
The report which was prepared for discussion by the IMF Executive Board in June was made public on July 13 and noted that public debt is projected to peak at 57.2 percent of GDP in 2019.
