Caribbean currencies absorbing shocks from global environment-World Bank

WASHINGTON, CMC – The World Bank says that for the first time currencies in Latin America and the Caribbean (LAC) are absorbing some of the shocks derived from a “less friendly” global environment.
According to the latest report by the World Bank’s Chief Economist in the  office for Latin America and the Caribbean, depreciated currencies not only lower the cost of exports but also raise the cost of imports, making the export and local industries more competitive and boosting job creation.
“LAC, together with other emerging markets, is entering a new phase of lower growth dynamics, as the tailwinds that blew so favorably in its direction in the recent past continue to recede,” the report says