BRASILIA, Brazil, Jun 11, CMC -The deputy managing director of the International Monetary Fund (IMF), Dr. Nigel Clarke, says policymakers in the Caribbean are facing a complex set of old and new challenges, but challenging times can also be times of opportunity, action, and resolve.
Delivering the 25th William G. Demas Memorial Lecture here on Tuesday night as part of the 55th annual meeting of the Caribbean Development Bank (CDB), Clarke, a former finance and planning minister in Jamaica, said that the Caribbean is a region of immense promise, with rich cultural heritage, natural beauty, and vibrant population.
“The world is undergoing profound change. This change introduces global vulnerabilities to which the Caribbean is not immune. The resilience of small open economies like those in the Caribbean is likely to be tested.
“It is imperative, therefore, that Caribbean countries work to put their macro-fiscal houses in order while engaging in deep and meaningful structural reforms to increase the growth potential of Caribbean economies,” said Clarke, who spoke on the theme “The Caribbean Challenge: Fostering Growth and Resilience Amidst Global Uncertainty”.
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