World Bank says growth in the Caribbean ‘gathers steam’

(CMC) – The World Bank says the economies of Latin America and the Caribbean (LAC) have “turned the corner” after a year of tepid growth, providing an opportunity for countries to solidify their fiscal positions and lay the foundation for long-term inclusive growth.

In its latest semi-annual report titled, “Fiscal Adjustment in Latin America and the Caribbean: Short-Run Pain, Long-Run Gain?”, the World Bank examines the quickening of growth in the region “due in large part to a positive external environment, including rising commodity prices, growth in the US and China, and high international liquidity.”

But the Washington-based financial institution warned that many countries are “in a fragile fiscal situation after several years of weak growth.”

According to the…

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