WASHINGTON, CMC – The International Monetary Fund (IMF) says the Caribbean and other low-income countries are among the fastest-growing economies in the world, but warn that many remain vulnerable to shocks and spillovers from advanced and emerging markets.
“Low-income countries have worked to develop institutional capacity and build fiscal buffers that they were able to use during the crisis, and now, all the hard work has paid off,” said IMF Deputy Managing Director Min Zhu told an IMF seminar.
But he said these economies should take this opportunity to shore up their resilience to potential new shocks if they hope to sustain their current growth momentum.