CDB president warns 7 nations on rising debt
Feb 11, 2013
PORT OF SPAIN, Trinidad, Express- PRESIDENT OF the Caribbean Development (CDB) Dr Warren Smith yesterday warned member countries of the regional institution to avoid facing their own "fiscal cliff"-as happened to the United States-by moving vigorously to reduce their "mounting" debt stock. At least seven borrowing countries currently confront this economic challenge. They range from the Caribbean Community's sole energy-based economy, Trinidad and Tobago, to Barbados (which formerly boasted a record in robust economic management); to current crisis-ridden economies like Jamaica, Grenada, St Kitts and Nevis, and Grenada.
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