The performance of the financial sector in Saint Lucia has been impacted by weak credit growth despite
elevated deposit levels over the past decade. The paper seeks to evaluate credit dynamics in Saint Lucia
by empirically investigating the main determinants of credit (..)and the relationship of credit with
economic through the use of an ordinary least square regression model (1979 to 2019). The empirical
findings suggest that GDP, ROA, two (2) year lag of NPL and deposits influences credit in Saint Lucia
while credit impacts GDP and GDP impacts credit in the short run. Our findings also suggest that the
types of loans (personal-residential) granted in Saint Lucia, despite low risk to financial institutions,
has not had a significant impact on GDP. The paper uses country case examples to demonstrate
strategies used to enhance credit to make economies more financially inclusive. The development of
digital financial services, the establishment of a credit bureau, and the development of the
microfinance industry is therefore proposed for financial development. A financial inclusive approach
would allow for the services to reach the unbanked and significantly impact on economic growth in Saint Lucia
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia (GoSL) has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
In keeping with this intention, the GoSL has prioritized the Castries Market and its environs as a pull factor with tremendous potential to increase the number of visitors in the Castries city centre. Notwithstanding its potential, the GoSL has recognized that in order to fully leverage the opportunities for increased visitation by both locals and visitors, the Castries Market needs to be revitalized in order to become one of the city’s most visited spots.
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
Financing has been secured from the World Bank, towards the implementation of the OECS Regional Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize downtown Castries.
Financing has been secured from the World Bank, towards the implementation of the OECS Regional
Tourism Competitiveness Project (ORTCP). The Project principally aims to improve selected tourist sites
in Castries. In this regard the Government of Saint Lucia has identified the Castries City Tourism Product
as a priority for Saint Lucia with targeted investment sites and activities aimed at making downtown
Castries more pleasant and attractive to tourists as well as to Saint Lucian residents. Therefore, as part of
the ORTCP, the Government of Saint Lucia intends to implement several investment initiatives to revitalize
downtown Castries.