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Low growth, high debt in the Caribbean still a worry for IMF
Published on April 22, 2014 Email To Friend    Print Version

By Andre Huie

BASSETERRE, St Kitts (WINN) -- Low growth, high debt and weaknesses in some of the financial institutions in the Caribbean continue to be a concern for the International Monetary Fund (IMF). Alejandro Werner, head of the IMF’s Western Hemisphere Department gave an assessment of the Caribbean economy during a recent IMF press conference in Washington DC.

alejandro_werner.jpg
Alejandro Werner
In spite of the low growth across the region, the IMF said it is pleased with the turnaround in the St Kitts and Nevis economy. In its latest report it said the St Kitts and Nevis economy is expected to grow by 2.7 percent in 2014, and continue to strengthen over the medium-term towards its potential growth rate of 3–3.5 percent.

Local pundits, however, have been skeptical of this new report, saying the economic growth is not felt on the ground and is just an attempt to please the St Kitts Nevis government.

Meanwhile, despite current progress in the global economy coming out of a recession, the IMF believes recovery is still too slow and there are still too many people unemployed.

Republished with permission of West Indies News Network
 
Reads: 3342





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