Business
Positive growth forecast for the Caribbean – IMF
The World Economic and Financial Survey 2012 from the International Monetary Fund (IMF) released earlier this week, indicates that global growth has increased to 3.6 percent in the first quarter of 2012.
The growth projections for Caribbean and Latin America in April 2012 stood at 3.4 percent for 2012 and 4.2 percent for 2013.
New projections from the IMF reveal that growth for the Caribbean now stands at 3.5 percent for 2012 and 5.1 percent for 2013.
Guyana recorded 5.4 percent growth in 2011 and the projected 4.1 percent for 2012 are clear indications of government’s resilience towards promoting the development of a more diversified productive base.
An IMF regional international outlook identified Guyana among the resource exporting countries of the Caribbean, and by extension, the most outstanding economic performer of recent years.
In reports from the Caribbean Development Bank (CDB) Guyana was again acclaimed as one of the principal drivers of growth in the Caribbean.