Prospects seem somewhat better for the commodity exporters in the Caribbean (Belize, Guyana, Suriname and Trinidad and Tobago), where output is expected to grow by an average of 2 ¾ percent in 2012, before rising to 3 ¾ percent in 2013. Belize has weathered the global crisis relatively well compared to its Caribbean peers, with a moderately positive economic outlook.
Central banks thus have a role to play in managing the deleveraging process, knowing that crisis management has to complement, but should not obstruct, crisis resolution. They must ensure that the economy does not enter into a downward spiral that would be inconsistent with price stability. But how can they succeed in this task without delaying structural repair? Do they have the tools?