As international organisations continue to increase their focus on the prognosis for both the speed and extent of Caribbean economies’ recovery from the effects of the COVID-19 pandemic, the World Bank was last week projecting that while there is likely to occur a ‘degree of recovery” in Caribbean Community (CARICOM) countries this year, the ongoing impact of the pandemic notwithstanding, it was unlikely that the extent of that recovery would be sufficient to compensate for the ravages of 2020.
During a Caribbean Media Corporation (CMC) round table with journalists from the region last week, World Bank President David Malpass reportedly appeared skeptical about the 3.8% economic recovery figure proffered by the Barbados-based Caribbean Development Bank (CDB) recently. The World Bank, he said, will shortly be releasing its own projections. “We will be coming out with our own forecast for the region, but your general point is right that we expect there to be a degree of recovery in the Caribbean but not enough to make up for the downturn in 2020,” a somewhat cautious Malpass stated.