Caribbean Development Bank, CDB, on Tuesday projected that its borrowing members, or BMCs, would grow at a rate of 9.1 per cent, accelerating the region’s economic recovery which began in 2021.

The development bank provides financing for 19 Caribbean members, many of which are tourism-dependent economies.

CDB, which operates from Barbados, said its favourable outlook is anchored by an expected growth surge of 17.5 per cent in commodity-exporting economies, particularly in Guyana, which is expected to expand by 47.5 per cent due to increased oil and gas production; and a resurgence in energy production in Trinidad & Tobago, as supply-side constraints are alleviated. The bank said higher international prices for crude oil should translate into a revenue windfall.

https://jamaica-gleaner.com/article/business/20220202/cdb-projects-9-growth-region