IMF says no single bullet for Caribbean economic problems

WASHINGTON, CMC – The International Monetary Fund (IMF) says there is no “single bullet” that will allow Caribbean countries to deal with their various problems such as high debt, low growth, mitigation of vulnerabilities and strengthening financial system.
The IMF said that growth in the Caribbean has stagnated in the last two decades, except in commodity exporters.
The last rapid growth spurt in the 1980s was fueled mainly by expansion of tourism, banana production, and public investments, it said, noting that many Caribbean economies face high and rising debt to gross domestic product (GDP) ratios that jeopardize prospects for medium-term debt sustainability and growth.