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IMF predicts lower Caribbean growth

In its latest World Economic Outlook report, the bank predicts that growth in the Caribbean next year would be its lowest in four years.

The IMF says it expects Caribbean economies to grow collectively by 4.4 percent next year. That is down from the six percent projected for this year, the 8.4 percent recorded in 2006 and 6.5 percent in 2005.

The Fund said Latin American and Caribbean countries were experiencing the longest period of uninterrupted economic growth since the 1960s.

But it added that governments must do more to make the most of the helpful global environment.

Read the whole story on BBCCaribbean.com

daphne's blog | add new comment

Submitted by daphne on Thu, 2007-10-18 00:26.

DH article on growth
Anonymous (not verified) | Thu, 2007-10-18 14:39

Primary areas of growth were the construction sector, business activities (real estate, renting) and financial intermediaries.

For this year, she added that investments visibly continued in the private and public arenas. Some additional 1,000 condominiums are expected in the next three to four years as projects such as Indigo Bay Estates and Barbaron Residences come on line.

To tap into the expanding sector, government has drafted and is now reviewing a proposed condominium tax. The commissioner did not give a timeline for when the tax would be introduced or what the figure would be, preferring to wait until the process was closer to completion.

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