Economic growth slowdown

WASHINGTON – The International Monetary Fund (IMF) says growth in Latin America and the Caribbean (LAC) is slowing down and that the region is expected to record a 0.2 per cent growth this year.

The Washington-based financial institution said that the low growth comes amid continued trade tensions, lower global growth, subdued commodity prices, and in some large regional economies, high policy uncertainty.

In its latest Regional Economic Outlook for the Western Hemisphere, the IMF says in order to boost the economic recovery and create more jobs, the region will need to rely on domestic drivers of growth, like consumption and investment.

In reviewing the economic performances of the Caribbean countries, the IMF noted that Guyana is projected to record economic growth of 4.4 per cent this year, up from 4.1 per cent last year, while Suriname will record marginal growth of 2.2 per cent, up from two per cent in 2018. (CMC)