United States Department of State

ANTIGUA and BARBUDA United States Department of State

Antigua and Barbuda is one of the more developed countries in the Eastern Caribbean with a Gross Domestic Product (GDP) of USD 1.03 billion (2013). Antigua and Barbuda is a member of the Organization of Eastern Caribbean States (OECS) and the Eastern Caribbean Currency Union (ECCU). According to the Eastern Caribbean Central Bank (ECCB), Antigua and Barbuda's economy is expected to grow by 4.18 percent in 2015. Since successfully completing a three year Standby Agreement with the International Monetary Fund in 2013, Antigua and Barbuda's economy remains buoyant due to falling oil prices and the increase of tourist arrivals. However, some fiscal challenges remain particularly in the area of debt servicing. The current government is committed to create an enhanced business climate to attract more foreign investment to the country. Antigua and Barbuda is currently ranked 89 out of 189 countries in the World Bank's Ease of Doing Business report 2015, representing a fall of six places when compared to its 2014 ranking.