Saint Vincent and the Grenadines, part of the Lesser Antilles, is an island country in the Caribbean Sea. Proximate countries include Grenada, Saint Lucia, and Barbados. The geography of the country is volcanic and mountainous. The government system is a parliamentary democracyMajority rule, by which the biggest proportion of members of... and a Commonwealth realm; the chief of state is the queen of United Kingdom, and the head of government is the prime minister. Saint Vincent and the Grenadines has a mixed economic system in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Saint Vincent and the Grenadines is a member of the Caribbean Community (CARICOM) and the Organization of Eastern Caribbean States (OECS).
This lower-middle-income country is vulnerable to natural disasters – tropical storms wiped out substantial portions of crops in 1994, 1995, and 2002. Floods and mudslides caused by unseasonable rainfall in 2013, caused substantial damage to infrastructure, homes, and crops, which the World Bank estimated at US$112 million. The government’s ability to invest in social programs and respond to external shocks is constrained by its high public debtAlso known as National Debt. The total amount of money owed ... burden, which was 67% of GDP – one of the lowest levels in the Eastern Caribbean – at the end of 2013.
In 2013, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines. Arrivals represented a marginal increase from 2012 but remain 26% below St. Vincent’s 2009 peak. Weak recovery in the tourism and construction sectors limited growth in 2015.
Important Details
- Country ISO3 : VCT
- Country Code : 670
- Income Group : Upper middle income
- Lending Category : Blend
- Region : Latin America & Caribbean
- Currency Unit: East Caribbean dollar
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : WTO, CARICOM
- world rank : 40
- Regional Ranking : 5th in the South and Central America/Caribbean Region
