Nevertheless, the impact has been felt by the domestic credit equity and forex markets leading to slowing down in the growth rate and employment generation. Still, the country is the second fastest growing economy in the world with over 6 % growth projected for the current year. The topic of my talk is “Learning from crises”.
After posting a cumulative contraction of around 3 percent in 2009–2010, and modest growth of just over 1 percent in 2011, the Caribbean is expected to grow by close to 2 percent in 2012, and strengthen to about 2 ½ percent in 2013. The tourism intensive economies still face headwinds from the lukewarm recovery in employment in North America and Europe.