SKN PM appeals for assistance stimulating economic growth in Caribbean

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Published on Friday, 07 September 2012 12:28

Written by Andre Huie

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Port of Spain, Trinidad (WINN):  Prime Minister Dr. Denzil Douglas is appealing to the International Monetary Fund (IMF) and other international financial institutions to help St. Kitts and Nevis and other highly indebted Caribbean countries stimulate economic growth rather than just proposing cost cutting measures.  

Dr. Douglas was one of the participants in the just concluded IMF High Level Caribbean Forum on rethinking policy to address low growth and high debt in the Caribbean. 

Prime Minister Douglas said that after implementing the measures recommended by the IMF, St. Kitts and Nevis has seen little growth.  He noted that while earlier economic assessments recorded about a 1.2% growth for the Federation, the latest third quarter assessments from the IMF have projected zero to negative growth for the rest of the year.   Dr. Douglas said that there was need for capital projects in either St. Kitts or Nevis to help stimulate growth, and suggested that the country may have to borrow money to pursue capital projects. 

Dr. Douglas spoke to WINN FM's Andre Huie in Trinidad and Tobago after the conference closed Wednesday afternoon. 

Click below to hear report from Andre Huie

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