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IMF SAYS ECONOMIES IN THE CARIBBEAN CONTINUE SHOWING STRONG POST-PANDEMIC REBOUND

IMF Head Kristalina Georgieva


August 4, 2022 | By Colin O. Jarrett |

The International Monetary Fund, IMF says the economies of Latin Americas and the Caribbean have continued their strong post-pandemic rebound.

However, the winds are shifting as global financial conditions tighten, commodity prices reverse upward and inflationary pressures persist.

The Washington-based financial institution said the reopening of contact intensive sectors, especially hospitality and travel, the unwinding of pandemic pent-up demand and still favourable external financial conditions// supported a solid expansion.

This happened in the first half of the year, allowing services to catch up with manufacturing and employment to reach pre-pandemic levels.  The bank said year-on-year growth reached 2.8% in the first quarter compared to an average of 1.7% in the year preceding the pandemic.

There were reports of high frequency indicators which point to continued momentum in the second quarter.

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