In circumstances where Caribbean countries and more particularly, those commonly categorized as LDC’s, are rarely credited with standout economic performance reports from high-profile global financial and development institutions, a recent assessment by the International Monetary Fund (IMF) of the growth potential of the Caribbean Community (CARICOM) member country, Grenada, departed radically from the accustomed trend.
The Fund’s recent visit to the ‘Spice’ Isle realized a prediction of economic growth of nearly four per cent, going forward. The Fund’s assessment team reported that Grenada is experiencing “sustained, strong growth” that is being buttressed by a buoyant tourism sector. Grenada is one of a number of CARICOM countries which, while known for its energetic efforts in the agriculture sector, remains considerably dependent on high-priced extra regional food imports.
