Hidden Bibliographic Details
| Varying Form of Title: | Eastern Caribbean Currency Union, selected issues
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| Other authors / contributors: | Acevedo, S. (Sebastian)
International Monetary Fund, issuing body.
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| ISBN: | 1283558203
9781283558204
9781455250851
1455250856
9781455213894
1455213896
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| Notes: | Online resource; title from PDF title page (IMF Web site, viewed May 10, 2011).
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| Summary: | 1. Growth in the ECCU countries has been on a declining trend since the 1990s, with the current global slowdown exacerbating this trend. The ECCU region has been buffeted by a series of adverse exogenous shocks over time, including the erosion of trade preferences; the decline in official foreign assistance; recessions in the developed countries, the main source of tourism and FDI for the region; and frequent natural disasters. The recent global slowdown has exacerbated the already declining trend in growth. Growth has declined from an average of 6 percent in the 1980s to just over 2 percent since 2000, with most ECCU countries reporting negative growth in 2008-09. At the same time, the relaxation of the fiscal stance, partly reflecting accommodation to these shocks, has led to a rapid build-up of public debt in the region.
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