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COVID-19 will reverse economic gains in the Caribbean

Monday, April 20, 2020

Subject

The economic impact of COVID-19.

Significance

After an initial period when COVID-19 appeared to be skirting the countries of the English-speaking Caribbean, governments have been forced to act quickly, particularly when the region’s first death from the virus was recorded (in Guyana) on March 11. Initially a small number of countries adopted a laissez-faire approach, but now all governments have put in place more restrictive controls, although differences remain.

Impacts

  • As elsewhere, authorities in the Caribbean are revising and strengthening their responses almost on a daily basis.
  • The grave economic implications for the region will be exacerbated by predictions of an “above-normal” 2020 hurricane season.
  • Fiscal fragilities in many states will limit the options for stimulus measures.
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