Coronavirus Pandemic Will Drive Substantial Recession In Saint Kitts And Nevis

• The global spread of Covid-19 will undermine short-term tourism in Saint Kitts and Nevis (SKN) and cause significant contractions in exports and private consumption.
• Fitch Solutions has revised down its 2020 growth forecast for SKN to -11.5% y-o-y, from -4.5%, as the economy has remained closed to foreign tourists.
• A second wave of infections globally in Q4 2020 poses downside risks to their forecast, as SKN would likely extend its border closure.

(Source: Fitch Solutions)