GEORGETOWN, Guyana, CMC – Caribbean Community (CARICOM) Secretary General Irwin La Rocque Tuesday said that the global economic crisis is having a severe impact on the region resulting in stagnation or declining growth rates.
Addressing representatives from international development partners (IDP), who are meeting here for the Third Forum on Donor Coordination involving CARICOM, La Rocque said the fallout from the global crisis that began in 2008 “is still being felt deeply in this region.
“Stagnant or declining growth rates, high per capita debt, falling fiscal revenues, diminishing fiscal space and increasing unemployment have been a prominent feature of some of the economies of CARICOM member states, particularly over the past few years.