News & Events

Do Caribbean nations need more financial help?

28 Oct, 2014

According to UWIC’s Executive Director, “Caribbean economies have been hard hit by the global economic downturn as exemplified by the rise in financial indebtedness. Overall government debt has risen from 54 percent in 1997 to 79 percent of the region’s GDP in 2012. The financial woes are, however, differentiated between the lowgrowth, high-debt tourism-dependent economies (such as St. Kitts and Nevis, Jamaica,  Grenada, Antigua and Barbuda, St. Lucia and Barbados) and the moderate-growth commodity exporters (Guyana, Suriname, Trinidad and Tobago and Belize). Irrespective of the type of exports, these economies are characterized by an overdependence on a narrow range of exports, an overreliance on food, energy and health-related imports, declining terms of trade and deteriorating external balances…”

Read Dr. Nurse’s full response here: LAA141016 (2)