Report No. 8320-STV St.Vincent andthe Grenadines Updating Economic Note February 9,1990 Latin Americaand CaribbeanRegion FOROFFICIAL USE ONLY U ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Document of the WorWd Bank =., -'This documerWhas4 restricted distribution andmay be used by recipients only in the performance of theirofficialduties. Its contents may 'ntotherwise be disclosed without World,Bank authotization. Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
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St. Vincent and the Grenadines Updating Economic Note · FOR OMCAL USE ONLY ST. VINCENT AND THE GRENADINES j A Bank economic mission visited St. Vincent and the Grenadines in November
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Report No. 8320-STV
St. Vincent and the GrenadinesUpdating Economic Note
February 9,1990
Latin America and Caribbean Region
FOR OFFICIAL USE ONLY
U ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Document of the WorWd Bank
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-'This documerWhas4 restricted distribution and may be used by recipientsonly in the performance of their official duties. Its contents may 'ntotherwisebe disclosed without World,Bank authotization.
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CURRENCY EQUIVALENTS
Currency Unit Eastern Caribbean Dollar
Since its creation in 1965, until July 1976, the Eastern Cari'bbean dollarwas linked to the pound sterling at the rate of £1.00=EC$4.8. In July 2976the Eastern Caribbean dollar was linked to the US dollar at the rate ofUS$1.00 = EC$2.7C.
SiceJly 176
EC$1.00 = lv40.37US$1.00 = EC$2.iO
FOR OMCAL USE ONLY
ST. VINCENT AND THE GRENADINES j
A Bank economic mission visited St. Vincent and the Grenadines inNovember 19B9. Tlie mission consisted of Alberto Herrou-Aragon (HissiuoLeader) and Ginger Reich (Research Assistant). This Economic Note updateseconomic performance in St. Vincent and the Grenadines during 1987-88. Itprovides information on recent economic developments, highlights selecteddevelopment issues and outlines the FY89/90-FY91/92 public sectorinvestment program as well as the Government's external financingrequirements. A more detailed analysis of development issues andperformance as well as a discussion of growth prospects and projections iscontained in the report entitled 'Long Term Economic Prospects of the OECSCountries' (Report No. 8058-CRG, February 15, 1990).
This Jocument has a restricted distrbution and may be used by recipients only in the performance
ST. VINCENT AND THE GRENADINES
Table of Contents
Page No.
I. RECENT ECONOMIC DEVELOPMENTS .................................. 1
1. During 1980-85, real GDP, fueled by a strong recovery ofagriculture (131) following two major natural disasters, and the growth oftransportation (9Z), expanded by 52 per annum. During 1986-87, real GDPgrowth accelerated to 6.52 per annum. Value added in construction rose 13%annually, that in electricity and water, 9Z, that in communications, 172,and that in wholesale and retail trade, 9Z. In 1988, real GDP expanded by8.42 in response to good economic management; agricultural value addedclimbed 242 following the sharp downturn caused by a tropical storm in1987. In 1988, GNP per capita reached US$1,100.
2. St. Vincent and the Grenadines' balance of payments currentaccount performance is heavily dependent on capital inflows as well as onworld market and climatic conditions that impinge on banana production.The current account of the balance of payments deficit swelled from 32 ofGDP in 1986 to 17% of GDP in 1987. In 1988 it is estimated to havedecreased to 92 of GDP. These deficits broadly reflect variations in netofficial borrowing (from US$5.2 million in 1986 to US$10.2 million in 1987and US$10.7 million in 1988).
Public Finances
3. St. Vincent and the Grenadines has managed its public financessoundly. Public sector finances improved markedly during 1983-87: publicsector savings increasing from minus 0.8f of GDP in 1983 to 92 1987. TheGovernment has undertaken major efforts to strengthen public sector savingsthrough revenue and expenditure measures. In 1988, central governmentsavings increased to almost 92 of QDP.
External Debt -
4. In 1988, St. Vincent and the Grenadines' total debt outstandingand disbursed equalled an estimated 29? of GDP, and debt service paymentsamounted to only 32 of exports of goods and non-factor services and 6% ofcentral government current revenues.
II. Sectoral Development Issues
Agriculture
5. After suffering from adverse weather conditions during 1986 and1987, banana production increased about 81% in 1988 compared with 1987 andwas 128% above the 1983 production level. Yields have increased from 4.6metric tons per acre in 1983 to about 6.6 metric tons in 1988, but arestill below those of Central American countries (Costa Rica (14.2,, Belize(10.7) and Honduras (17.7). The improvement of yields has been brought
- 2 -
about by increased use of fertilizers and insecticides. Import volumes ofthose inputs increased about 300Z and 200?, rebpectively, betwoen 1983 and1988. The increase in production also was achieved by an increase inacreage of nearly 60Z during that period.
6. Production of non-banana crops has lagged behind because of thehigher profitability in producing and exporting bananas. In addition, non-banana crops are now facing increased competition from Trinidad and Tobago.Output of root crops (sweet potatoes, yams, tannias, eddoes and dasheens),which accounted for 312 of total value added in agricultural (at 1977prices) in 1984, declined by 72 per annum during 1984-88. Competitivenessof agricultural crops in Trinidad and Tobago was affected by the oil boomand this had resulted in increased imports from St. Vincent. The realdevaluation of the Trinidad and Tobago dollar since 1987 restoredcompetitiveness to its non-sugar agriculture. The ensuing increase indomestic production has been displacing imports from St. Vincent. Thesedevelopments did not originate from a misalignment of the real exchangerate between the two countries; rather they resulted from relative pricechanges in Trinidad and Tobago occurring in the aftermath of the oil boomand following the adjustment of the economy.
Manufacturing
7. Manufacturing growth could be affected adversely by a 1989 minimumwage increase (to women--from EC$l0 to EC$20 per day). One manufacturingfirm exporting to the US market closed in 1989 partly in response to thewage increase. Even though actual productivity allows firms to pay wagesabove the new minimum wage, the main issue in the sector seems to berelated to the hiring of new workers whose productivity is initially belowthe minimum wage (e.g. trainees).
Tourism
8. St. Vincent and the GrenadLnes is endowed with a wealth of naturalattractions whick are relatively unspoiled and constitute the underlyingtourist appeal of the country. The geographical diversity among thevarious islands in St. Vincent and the Grenadines produces an interestingblend of holiday options. However, their development means that unless theislands become easy to access, both physically and in terms of bureaucracyat the hubs, their tourism prospects will be hampered.
9. Local sources of finance for hotel development were scarce in thepast. Commercial banks are, however, becoming involved in mortgagelending. The main sources of local financing are the Caribbean Financialservices corporation and the Development Corporation (DEVCO), which borrowsfrom the Caribbean Development Bank (CDB) and the European Investment Bank(EIB). The EIB funds are devoted primarily to modest expansions andrenovations. The CDB also finances a few new hotels directly without thpintermediation of DEVCO. Larger hotels have to be financed almost enti from abroad.
10. Improved airport facilities are required for the development oftourism. The EEC financed Bequia Airport Project will be the criticaldevelopment to support air communications into St. Vincent and theGrenadines. Over the long-term, however, the lack of an international
airport could deter long distance travelers. To exte'id the existirg mainairport by the 2,000 feet required would entail construction into the sea,which would be very expensive. The international Civil AviationOrganization (ICAO) is providing technical assistance to prepare the termsof reference for a feasibility study for airport development inSt. Vincent.
11. The Government has proposed the restructuring of LIAT, theprincipal regional airline, and the sale of its shares to a joint ventureinternational carrier and to majority Caribbean shareholders. Improvedaccess to the Grenadines is envisaged as a result of airstrip upgrading andconstruction. The resurfacing of Canouan's runaway has recently beencompleted. Plans for the redesign and reconstruction of the Union Islandairport are underway. In addition, a new fifteen year agreement with P;Mustique should contribute substantially to new investments and to thecontinued development of up-market residential tourism in that island. AFinally, there may be a conflict between the requirements of higher marketand the mass market of daily cruiseship tourists. The two may not becompatible. Policy decisions should take into account the relativeadvantages and disadvantages of either.
III. PUBLIC SECTOR INVESTMENT AND EXTERNAL FINANCING REQUIREMENTS
Public Sector Investment Program
12. The Public Sector Investment Program (PSIP) for FY89/90-FY91/92 isestimated at EC$308 million (US$114 million). About 602 of the total PSIPis destined to the economic and social infrastructure, while 302 isdestined for the productive sectors, with agriculture accountingindividually for 752 of the total of the productive sectors. About 102 isdestined to general administration and public safety projects. Thecomposition of the PSIP is consi tent with the Government's objective ofeconomic diversification, with emphasis on the provision of infrastructureto support growth in agriculture, manufacturing and tourism. New projectsamount to approximately 382 of the PSIP total. They include theAgriculture Rehabilitation Project, Development of the Fishing Industry,Post Secondary Education Facility, Industrial Estate Project, Feeder RoadsProject, and the Bequia Airport Project.
External Financing Requirements
13. The financing requirements for the PSIP are estimated to amount toUS$122 million during FY89190-FY91/92. Scheduled amortizations areprojected to be US$8 million during the three year period. Public sectorsavings are projected to provide US$28 million while net domestic credit isprojected to finance US$11 million. Scheduled disbursements under externalcommitments for ongoing projects would provide US$54 millicn. A financinggap for the three years of about US$29 million would remain, for which anexternal donor for US$2 million has to be identified (Grenadines Jetty--cruiseship terminal).
- 4 -
ST. VINCENT AND THE GRENADINES: PUBLIC SECTOR FINANCINW- REQUIREMENTS,FY89/90-FY91/92
Source: IBRD and Caribbean Development Bank estimates and projections.
- 5 -
ANNEX IiPage 1 of 19
UDUBjIC SECTOR INVESTMENT PROGRAM
A17NEX I- 6 - Page z of 19
ST. VINCENT AND THE GRENADINES - MNUbOR ONOING PROJECTS AND SOURCES OF FINANCIN
(EC* 000)
External Financing TYPETotal ---- Source of
Cost Amount U FUSDS
'griculture___________
Topworking Mango - Phase III 190 166 79.0 UK GrsntRepairs to Office Quarters as 0 0.0 Local RevenueKingstown Fisherles Infrastructure 18,700 6,4U1 89.9 Japan GrantOwis Salt Pond Development 84 0 0.0 Local RevwnueForestry Sector Project 9,678 6,000 62.7 CIDA GruntOrange Hill Dev Programme 8,600 2,400 66.7 UK GrantOrange Hill Development Progmra sea sea 100.0 CIDA OrantOrange Hill Development Prograoms 9,921 9,921 100.0 EEC Grant0-ange Hill Dev Programm 20,000 0 0.0 Local Revenue
Orange H1il Development Peogr 4,188 4,19e 100.0 CDs Loan
Manufacturing
Consolidated Line of Credit 4,18A 654 16.6 CDB Loan
Tourism
Restoration Fort Charlotte 100 0 0.0 Loca! RevenueBotanic Gasr.ons Development 60 0 0.0 Local RevenueFalls of Beleine - Improved Ace s* 60 0 0.0 Local R-venueTourism Development Program 982 877 89.8 EEC GrantBotanic Oardens Road Rehabilitation 100 0 0.0 Local RevenueBequla Upgrading of Gardens 8 0 0.0 Local Revenue
Energy
Cumberland Hydroelectric Project 6,800 0 0.0 EEC LoanCHP T A D/Trainlng/Hydroelectries :7,000 6,000 86.8 IDA LoanCumberland Hydroelectric Project 26,141 0 0.0 CIDA OrantCumberland Hydroelectric Project 20,260 la 0.9 USA LoanFower Loss Reduc.: CDB 2nd Power Proj 16,610 2,600 16.7 CDB Loan
ANNEX IPage 3 of 19
ST. VINCENT AND THE GRENADINES - MAJOR ONGOING PROJECTS AND SOURCES OF FINANCINO(Con 't)
Bequls Road - Phase II 600 0 0.0 Local LoonColonalre/Park Hill Road a70 0 0.0 Local Loan
Bequia Airport Consul (Design A Sup) 2,500 1,488 68.6 EEC GrantDequis Airport - Construction 64,000 60,400 93.8 EEC Grant
Airport Terminal (E.T. Joshua) - Remodeling 8a 0 0.0 Local RevenueGeorgetown - Fancy Road I 8,109 980 81.6 UK GrantWindward Highway Rehabilitation See 0 0.0 Local RevenueSea and River Oefences 1,080 0 0.0 Local LoanSt V. Infra Project (PIR II) 5,400 8,180 68.9 uSA LoanSequisa Resto-ation of Flood Damage 240 0 0.0 FRA GrartRehab. Windward Highway: Windblow 1,000 0 0.0 Local LoanQua ry Development 17,722 11,818 66.7 coD LoanFeeder Roads III 6,694 88e 18.1 Coo Loan
Bequla Road Development 980 0 0.0 Local LoanBasic Needs Trust Fund (BNTF) - Roads 2,612 642 24.6 COB GrantAsphalt Resurfacing of Highways 2,200 0 0.0 Local LoanBNTF Maintenance/Supervisor/Perform. 2,613 642 24.6 CDB LoanGlen/Fuir Hiall Roads 760 0 0.0 Local LoanBequle Waterfront Dev Project I 1,000 1,000 100.0 CIDA LoanCanouan Roads Phase II a80 0 0.0 Local Loan
Rehab: North Leeward Highway 7,600 7,600 100.0 CDB Loan
Water & Sewerage
Special Water ProJect 94 0 0.0 Local RevenueColonarie River Water Supply 11,400 2,000 17.6 CIDA GrantWater Meters - Instollatlon 1,340 0 0.0 CDB LoanFerro Cement water Tanks 18O 0 0.0 Local RevenueDiamond Estate Water Supply 2,700 2,700 100.0 USA GrantPaget Farms Water Tank (MAF) 110 11o 100.0 CIDA Grant
ANNNEX I-8- Page 4 of 19
ST. YINCENT AND THE GRENADINES - MAJOR ONGOING PROJECTS AND SOURCES OF FINAMCING(Con It.)
Teachers Accomodation a05 0 0.0 Local RevenuePost Secondary Facility - Land 114 0 0.0 Local RevenueCDB/OECS Tech/Voc 9,421 7,492 79.6 C9B LoanCampden Park Secondary School 1,600 0 0.0 Local RevenueStudent Loans 946 0 0.0 CDs LoanWestwood Primary School - Corstrn. 500 0 0.0 Local RevenueHome Economics Centres 208 0 0.0 Local RevenueSchool Special Needs Extention 474 0 0.0 Local RevenueReplacement - Furniture A Equip 1.000 0 0.0 Local RevenueAshton Primar; School Extention 846 0 0.0 Local RevenueConstrn. - Kingstown Primary School 8,214 0oo 18.? UK GrantW.I. Scholarship Training Scheme 401 100 24.9 UK GrantNational Documentation Centre 16O 0 0.0 CIDh Grant
ANNEX I- 9 - Page 5 of 19
ST. VINCENT AND THE CRENADINES - MAJOR ONGOINO PROJECTS AND SOURCES OF FINANCING(Con 't)
External Financing TYPETotl… ------------------ Source of
Cost Amount X FUNDS------------------------------------------ ____----------------------------------------------------
Health A Community Services
New Ground Cllnic 200 0 0.0 Local RevenueChateaubelair H owpital - Renovation 80 0 0.0 Local RevenueTwo Garbage Trucks (New) 270 0 0.0 Local RevenueLend Purchase - Cormunity Purp, Rs 800 0 0.0 Loctl RevenueClinics - Renovation 50 0 0.0 Local Revenue
Coamunity Centres: Land Purchase 196 0 0.0 Lcal RevenueChatesubelair Heap - Reconstruction 984 0 0.0 Local RevenueComunity Development 1888/S9 1864 54 4.0 UK GrantAshton Clinic/Post Office Phase I 290 0 0.0 Local RevenueCanouan Nurses Quarters - Constrn 158 0 0.0 Local RevenueBus Stops a Shelters aso 0 0.0 Local RevenueRenovation - School of Nursing 1,004 0 0.0 Local Revenue
Buliding Purchase Comm Purposes 140 0 0.0 Local RevenueYouth Centre C,"pden Park 100 50 60.0 CIDA Grant
ANNEX I- 10 - Page 6 of 19
ST. VINCENT AND THE GRENADINES - MAJOR ONGOING PROJECTS AND SOURCES OF FINANCING(Con 't)
(EC$ 000)
External Financing TYPETotal ------------ Source of
Cost Amount x FUNDS
Housing
Land Acquisition: Housing (Chr VYge) 42 0 0.0 Local RevenueLow Income Mortgage Financing 4,050 2,050 60.6 CDB LoanRichmond Land Settlement Infrestr. 1,000 0 0.0 Local LoanGovt Residences, Cane Garden 6OO C 0.0 Local Revenue
General Administration
Equipment - Date Processing Dept 182 0 0.0 Locsl RevenueDistrict Post Offices 210 0 0.0 Local RevenueGeorgetown Revenue Office: Renovation 10 0 .O Local RevenueOffice Improvement - Min of Tourism 80 0 0.0 Local RevenueGovernment Printery: Equipment 760 0 0.0 Local RevenueFinance Office Complex 11,000 0 0.0 Local Loan
Public Safety
Coastguard Base 6,069 6,494 107.0 UK Grant
Buccamennt Home for Girls Rehab 200 0 0.0 Local Revenue
Other
Special Developmenmt Projects 8,844 0 0.0 ROC GrantWest German Micro ProJect 100 97 97.0 FDR GrantGerman Gutters Troumaca/Owia 600 0 0.0 Local RevenueSea and River Defences 1,060 0 0.0 local LoanGrenadines Multi-project 8,870 5,569 66.4 .6 Loan
ANNEX I- 11 - Page 7 of 19
ST. VINCENT AND THE ORENADINES - MAJOR NEW PROJECTS AND SOURCES OF FINANCING
Lend Acquisition: O'hill A Leewards 6,000 0 0.0 Local Loan
District Office Quarters - Constrn 66S 0 0.0 Local Revenue
Upgrading - Propagation Fecilities 237 0 0.0 Local Revenue
Agri. Rehab. A Diversification Proj 11,111 10,000 90.0 IDA Loan
Meat Market A Two Abattoirs 1,600 1,600 100.0 CIDA Grant
Livestock Dev. - Breeding Stetion 110 0 0.0 Local Revenue
Purchase of Fishing Equipment 810 810 100.0 JAP Grant
Development of Fishing Industry 9,600 9,500 100.0 CIDA Grant
Integrated Crop Dev A Diversification 1,400 0 0.0 Local Revenue
Sheep A Goat Development 8SO 0 0.0 Local Revenue
Manufacturing______________
Industrial Estate V 10,664 6,877 66.2 CoB Loan
Consolidated Line of Credit (2nd) 6,400 8,600 68.7 CDB Loan
Diamond Industrial Estate 2,600 2,500 100.0 CIDA Grant
DEVCO Global Line of Credit 4,609 4,609 100.0 EEC Grant
Tourism
Craft Development Production Units 76 78 100.0 UN Grant
Layou Petroglyph Site Beautification 66 0 0.0 Local Revenue
Land Acq & Beautification Project 56 0 0.0 Local Revenue
Hamilton Fort Fencing 20 0 0.0 Local Revenue
IB/Ville Beach Access Improvement 100 0 0.0 Local Revenue
Vermont Nature Trail Improvement 42 0 0.0 Local RevenuePeace Memorial Hall Remodelling II 2,000 0 0.0 Local RevenueGeneral Office Improvements II 100 0 0.0 Local Revenue
- 12 -ANNEX IPage 8 of 19
ST. VINCENT AND THE GRENADINES - MAJOR NEW PROJECIS AND SOURCES OF FINANCING(Con 't)
(ECS 000)
E6ternal Financing TYPETotal ------------------ Source ofCost Amount x FUNDS
Energy
Csnovan - Electrification 8,800 1,800 84.8 FRA LoanPortable Oetiratcr 1,200 0 0.0 Local Revenue
Transport A Communications____ _____________________
Feeder Roads IV - Consultancy GO0 500 100.0 CDB LoanMelville/Hlgginson St Extension 0oo 0 0.0 Local Loan9equls Water Front Development Proj 150 0 0.0 Local RevenueRehab: Loeward H'wey - Barr/Richmond 2,700 2,700 100.0 OPEC LoanFoeder Roads IV 8,000 8,000 100.0 CDB LoanBNTF Road Performance Phase II 1,600 1,600 100.0 CDB GrantAccess Bridge - Oaskill Mtn Rd 450 0 0.0 Local RevenueRoad Improvement - Lower Bay Street 400 0 0.0 Local LoanUnion Island Airport - Construction 5,000 0 0.0 Local LoanRehab: Cent Leeward (Buc-Barrouslile) 4,678 0 0.0 EEC LoanBequle Airport - Land 1,200 0 0.0 Local LoanUnion Island Airport Supervision 200 0 0.0 Local LoanRehab: Leeward Heay - Fees. Study 400 400 100.0 CDB LoanGrenadines Jetty-Cruiseship Terminal 5,000 6,000 100.0 UNKNOUN
Water & Sewerage
John Hill Water Supply Phase II J50 0 0.0 Local RevenueSouth Leeward Water Supply: Rehab 2,000 2,000 100.0 FRA LoanSandy Bay/Overland water Supply 658 565 100.0 USA GrantSpring Village Water Supply 254 254 100.0 CIDA GrantRiver Defences 8OO 0 0.0 Local Loan
- 13 - AWK IEXI-13-- ~~~~Page 9 of 19
ST. VINCENT AND THE GRENADINES - MAJOR NEW PROJECTS AND SOURCES OF FINANCING(Con 't)
(ECS 000)
External Financing TYPETotal ------------------ Source ofCost Amount s FUNDS
Education & Tralning
Clifton Primary School Extention 197 0 0.0 Local RevenueWestwood Primary School - Land 10 0 0.0 Local RevenueBelmont Govt School Extention 166 0 0.0 Local RevenuePoet Secondary Facility - Phase 1 2,984 2,984 100.0 EEC GrantNeow round Tech/Voc Centre 4,640 2,640 100.0 UK GrantGomea Government Sch Extention 120 0 0.0 Local RevenueConstruetion of Law Llbrary 1,000 1,000 100.0 USA GrantPaget Farm Govt Sch - Extention 246 0 0.0 Local Revenue HBelair Govt School Extention 120 0 0.0 Local RevenueTeachere Collage - Drainage 60 0 0.0 Local RevenueLibrary: Refurbishment 1,000 0 0.0 Local RevenueMarriaqus Primary Sch. - Land 126 0 0.0 Local Revenue ;Peruvian ValePrimary School - Land 96 0 0.0 Local RevenueStudent Loan (6th) 96 64 67.4 CDO Loan -
Barouallie Infant Sch Extention 860 0 0.0 Local RevenueByera Anglican Sch Relocation -Land 120 0 0.0 Local RevenueExtention/ Renovation Gramiar Sch 400 0 0.0 Local Revenue -New Grounds Primary School 2,184 2,184 100.0 UK GrantBuckhorn/Murray Village Sch - Land 150 0 0.0 Local RevenueFancy Industrial Arts Centre 6o 0 0.0 LOcal Revenue
Health A Community Services___________________________ -
Renovation Layou Torn Hall 1SO 0 0.0 Local RevenueClear Valley Clinic - Construction 287 287 100.0 FRA GrantCraft Develpment - Production Units 78 7e 100.0 UN Grant iCsnouan Health Centre 184 134 100.0 USA GrantMental Health Centre - fencing 6o 0 0.0 Local RevenueTroumsca A Port Eliz Nurses Quarters 150 0 0.0 Local RevenueMental Health Centre: Rehabilitation 456 0 0.0 Local RevenueHospital Lab Extenslon so 0 0.0 Local RevenueRenovation of Clinics S0 0 0.0 Local RevenueSanitation Dept - Equipment 46e 0 0.0 Local RevenueUltra Sound Unit 270 0 0.0 Local RevenueCommunity Development 1989/90 1,200 1,200 100.0 UK GrantPost Office/ Library/Day Care Centre 260 0 0.0 Local RevenueKOH - Generator 190 190 100.0 KOREA GrantExpansion Ministry of Health 1,000 0 0.0 Local RevenueYouth Hostel Campden Park 260 0 0.0 Local RevenueNurses Quarters - Renovation 60 0 0.0 Local RevenueArnos Vale Playing Field 5oo 0 0.0 Local RevenueClear Valley Clinic - Land 100 0 0.0 Local RevenueReplacement of Pavillions-Arnos Vale 210 0 0.0 Local Revenue
II
ANNEX I
- 14 - Page 10 of 19
ST. VINCENT AND THF GRENADINES - MAJOR NEW PROJECTS AND SOURCES OF FINANCING(Con't)
1.1 Selected Vital Statistics ....................... 252.1 Gross Domestic Product by Sector, 1982-88 ....... 262.2 Gross Domestic Product by Sector, 1982-88 ....... 273.1 Balance of Payments, 1984-19 ..................... 283.2 Value, Volume and Unit Prices of Major
FY83/84-FY84185 .315.1 Summary of Operation of the Consolidated
Public Sector, FY83-FY88 ...................... 325.2 Central Government Operations ................... 336.1 Commercial Bank Operations, 1984-88 ............. 346.2 Quarterly Analysis of Loans and Advances ........ 357.1 Selected Agriculture Production ................. 368.1 Consumer Price Index ........................... 37
- 25 -ANNEX IIPage 2 of 14
Tablo 1.1 : ST. VINCENT AND THE ORENADINES - SELECTED VITAL STATISTICS
1992 1968 1964 1965 1986 1987
Total Population (ond of year) 106,243 107,697 108,748 110,192 111,419 112,689
Table 8.2: ST. VINCENT AND THE GRENADINES - VALUE, VOLUME AND UNIT PRICES--------- Of MAJOR EXPORTS, 1984-S8(value In USS mln.; volume in mlvn of kg.. and unit price In US$)