IMF Encourages Antigua to Improve Ease of Doing Business
The International Monetary Fund (IMF) has urged Antigua and Barbuda to enhance its business environment, emphasizing the importance of streamlining trade processes through the implementation of a single electronic window at customs. In its latest Article IV consultation, the IMF highlighted that improving efficiency in trade and investment procedures could strengthen the country’s economic competitiveness and support long-term growth.
The introduction of a single electronic window system would allow businesses to complete customs documentation and approvals through a centralized digital platform, reducing delays and administrative burdens. The IMF noted that such a system could lead to faster clearance times, lower costs for businesses, and improved government revenue collection.
Antigua and Barbuda has made strides in improving its business climate, but the IMF report pointed out that further reforms are needed to enhance efficiency. The current customs process, while functional, remains hampered by bureaucratic delays and manual procedures that can slow trade and investment.
By modernizing the customs framework and integrating electronic systems for e-filing, e-payment, and e-registration of taxes, the government could attract more foreign direct investment and support the growth of local enterprises. The IMF also recommended strengthening tax administration by introducing a large taxpayer unit and modernizing IT infrastructure to improve compliance.
The IMF assessment comes as Antigua and Barbuda seeks to diversify its economy beyond tourism and increase private sector participation. The report noted that streamlining customs procedures would particularly benefit small and medium-sized enterprises (SMEs) by reducing operational costs and increasing market access.
With global supply chain disruptions posing challenges to small island economies, the IMF emphasized that Antigua and Barbuda must continue working toward a more efficient trade environment. Implementing the single electronic window system, along with other business-friendly reforms, could enhance the country’s position as a regional trade hub while ensuring sustained economic growth.
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They only realizing that now? Everybody know Antigua business system too slow and frustrating.
Agred!
Dun tark!!!
The IMF’s recommendations highlight a key opportunity for Antigua to strengthen its position as a leading financial hub. Improving the ease of doing business will not only attract more investors but also help Antigua compete with established jurisdictions like the BVI. Services like https://ovza.com, which facilitate offshore company formation, play a crucial role in positioning Antigua at the forefront of international financial services. Looking forward to seeing how these reforms unfold!
Will never happen here. The members of the creative self enrichment team too busy filling their pockets with our tax dollars. That’s why our roads are bad and never last long, no consistent water, no consistent electricity. Tax dollars wasted on Friars Hill Road especially by planting trees along the road, then burying cables below ground after spending money to suspend them the old time way.
Up to now they haven’t put in the electronic immigration kiosks. No one wants to put a proper bank here because we launder so much money.
You deserve what you voted for.
We have a waist of time, egocentric Prime Minister name Gaston Browne. You get what you voted for.