THE BLUE ECONOMY OFFERS RICH REWARDS TO COUNTRIES THAT SEIZE THE MOMENT
By Deodat Maharaj, Deputy Secretary General of the CommonwealthRead more...
Caribbean countries face a variety of serious economic challenges which act as major impediments to their growth and development. The continued reliance on one major export product with associated vulnerability to economic shocks as well as natural disasters places many in this region in a precarious position.
Nine Caribbean countries carry debt to GDP ratios over 75%, with five having unsustainable levels of debt exceeding 100%. Overseas development assistance has been on the decline and is no longer an option for the large majority of Caribbean countries. Graduation to middle income status has also meant that concessional financing is no longer available.