WASHINGTON CMC – The World Bank has urged the Caribbean and other developing countries to safeguard their economic growth, warning that the “road ahead remain bumpy.”
In the Global Economic Prospects (GEP) report, released here on Wednesday, the Washington-based financial institution said four years after the onset of the global financial crisis, the world economy “remains fragile and growth in high-income countries is weak.”
“Developing countries need to focus on raising the growth potential of their economies, while strengthening buffers to deal with risks from the Euro Area and fiscal policy in the United States,” the report says.