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Report: Study Says Six Caribbean Islands Could Be Facing Major Debt By 2050May 17, 2016 By: Newswire
|St. Lucia // Photo by Joe Pike|
According to the Jamaica Observer, a report by the London-based Commonwealth Secretariat is warning Caribbean countries that if they continue on their current development path, by 2050 they will face "unmanageable debt, poor growth, and greater socio-economic problems."
The report, which was launched at the Fourth Global Biennial Conference on Small States in Seychelles, looks at the current policies and trends in six Caribbean countries, namely The Bahamas, Barbados, Jamaica, St. Lucia, Grenada, Trinidad and Tobago, and Guyana.
According to the Jamaica Observer, the report warns that the Caribbean faces mounting challenges and unless there are seismic shifts in policy-making, the outlook is stark.
The report challenges the status quo and sets out policy interventions in targeted areas aimed at tackling persistent barriers to the region’s growth. The report provides recommendations on productivity, export growth, increasing youth employment and fiscal reform.
For the Jamaica Observer story, click here.