Resilience of Caribbean people will determine success or failure- former PM Arthur
There are no quick fix solutions to the Caribbean’s economic troubles with or without the International Monetary Fund (IMF).[su_pullquote align=”left”]“The new type IMF programmes will not in and of themselves solve the problems of the Caribbean. At best, they will function as catalysts which can trigger access to additional resources, and help to generate new policy responses from others that all together may help to make a situation which started as being unsustainable, come into the realm of being manageable.” Mr. Owen Arthur, economist and former Prime Minister of Barbados[/su_pullquote]
Former Prime Minister Owen Arthur issued this advice as he delivered the Sir Archibald Need Memorial Lecture in Grenada today entitled ‘Can the prescriptions of the International Monetary Fund solve the economic problems of the Caribbean?’
Clearly listing the severe challenges confronting regional economies, which include high debt, low or no growth, and unsound fiscal positions, he made it clear that “countries facing such a brutal reality must draw therefore upon more than what the IMF provides for”.
Read more at: Barbados Today