BRIDGETOWN, Barbados — Lamenting the fact that borrowing member countries (BMCs) were only able to achieve just about an average of one per cent growth in 2019, president of the Caribbean Development Bank (CDB) Dr Wm Warren Smith says the task for the institution he leads remains the empowerment of the countries of the region so that economic growth and the improvement of the quality of life for citizens becomes the constant.
Speaking at the CDB’s annual news conference here this week, Smith said: “We’re projecting 4.1 per cent growth for the region for 2020,” explaining that the prediction was premised on expected global activity for the year.
He added that a slowdown in growth experienced in 2019, from an average of 1.6 per cent the previous year, was in tandem with relatively sluggish global growth of 2.9 per cent, as well as mixed signals from the international economic environment.
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