Fix pre-COVID-19 issues, says CDB

Caribbean Development Bank (CDB) president Dr Gene Leon is urging Barbados and the institution’s other borrowing member countries (BMCs) not to become fixated on current economic growth and forget to fix structural problems that pre-dated the COVID-19 pandemic.

He told member countries that although the CDB and other multi-lateral financiers would continue to support countries, there was a need “to be thinking collectively [to] get economies back on track to continuing to support themselves going forward”.

The economist was speaking yesterday in Providenciales, Turks and Caicos Islands (TCI) during the official launch of the 52nd Annual Meeting of the CDB’s Board of Governors. Next month’s meeting, which will have online and in-person segments, is being jointly hosted by the bank and the TCI government.

Leon said the region’s economic recovery from the pandemic was going well compared with other places, and this was mainly in the tourism-based economies like Barbados and the natural resource-based states like Guyana. (SC)

 

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