The timing and conditions of the BSP's exit strategy will be guided by the inflation and growth outlook over the medium term, the state of public health, and domestic and global risks to the economy.
In the Caribbean, that option is not available, because we produce only a handful of consumption items competitively, and most of those would become more expensive with currency depreciation, because of their import content. The Caribbean policy maker has only one option for reducing spending on foreign exchange, and that is to reduce spending on everything.