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Feb 9, 2018

After Sub-Par Year, C.D.B. Turns the Page

William Warren Smith

This week, the Caribbean Development Bank held its annual press conference at its headquarters in Barbados. The headline is that the performance of its nineteen member countries economically in 2017 was not the best. Belize, at zero point five percent, brought up the rear and is around the regional average. But President of the Caribbean Development Bank, Doctor William Warren Smith, noted that things are looking up.

 

Dr. William Warren Smith, President, C.D.B.
“They expanded – that is our regional economies – on average, by zero point six percent with all but five borrowing member countries (BMCs) reporting output growth in 2017. For the majority of our BMCs, this growth was driven by tourism and increases in commodity prices. The prognosis is even better for 2018, with all of these countries expected to grow by around two percent. In a sense, and certainly in terms of economic growth, the Region is in the strongest position since the start of the 2008 global recession, which set in motion an extended downward spiral in economic performance.”

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