In addressing the crisis we have been acutely aware of the need to strike a delicate balance between two sets of competing considerations. On the one hand, central banks were faced with the risk of a financial meltdown, which would have had profound implications for the real economy and which posed a serious threat to price stability.
What is clear, however, is that policymakers in the Caribbean must begin to rethink their policy strategy and consider more innovative approaches to financing in order to help solve their onerous debt dilemma. Here at home, certain domestic factors seem to suggest a cautiously optimistic outlook for 2013.