This paper empirically examines the determinants of commercial bank deposits in Saint Lucia using data
over the period 1995-2018 to identify the factors which have been contributing to Saint Lucia’s constant
deposit growth. Using the ARDL bounds test approach to assess cointegration, results indicate that in the
short-run, GDP and inflation rates are cointegrated with deposits rates while in the long-run no cointegration
exists between the independent variables and deposits. Employing the Toda-Yamamoto test to assess
causality among deposits and the other variables, results indicate that in the long-run, corporate income
tax, GDP, inflation, remittances and interest rates all positively and significantly influence deposit rates in
Saint Lucia. These findings suggest that in the short-run, Saint Lucian policy makers can influence deposit
rates through growth enhancing policies. However, in the long-run policies aimed at attracting remittances
as a special interest rate on bank deposits for persons who live abroad or policies aimed at encouraging
investments with remitted funds may be particularly important for the Saint Lucian economy. This study
has implications for development and formulation of monetary policy for Saint Lucia and similar small open
economies.
The scope of the project is to demolish the existing Marketing Board building to accommodate the
proposed Box Park building. The building to be demolished is a single storey concrete framed and
blockwork building, with a flat concrete roof. Due to the size and height of the structure, it is anticipated
that the building can be demolished without the use of implosion, or explosive means, but rather by the
use of excavators and jack hammers, which will reduce the level of vibration required.
The Government of Saint Lucia believes it is important for the people of Saint Lucia to understand the budget process; government revenue, government expenditure and the policy initiatives that benefit all Saint Lucians. In this regard, the Government of Saint Lucia, via the Department of Finance proudly presents the first Citizen’s Guide to the Budget for the financial year 2021/2022.