Saturday, October 23, 2010

IMF on the Caribbean

The International Monetary Fund (IMF) says the Caribbean is gradually recovering from last year's severe recession. In a new report the IMF said tourism appears to have turned the corner.

However, it noted that tough employment markets in the US and Europe constrain the industry's growth prospects.

Real output in the Caribbean is likely to grow a marginal 1% this year after declining more than 3% last year.

The IMF said prospects are somewhat more favourable in countries with lower debt burdens and lower dependence on tourism.

It said the key challenge for the Caribbean lies in cutting budget deficits and national debt while strengthening competitiveness".

A release from the IMF this week, while they dont specifically state Guyana, we wonder about that firewall we had up !

No comments:

Post a Comment