Caribbean countries warned

cdbST. LUCIA – The Board of Governors of the Barbados-based Caribbean Development Bank (CDB) began a two-day meeting here with a warning to regional countries that, while they urgently need to address their fiscal and debt issues, a narrow adjustment programme will be unsustainable.

President of the CDB, Dr Warren Smith told the opening ceremony attended by several government leaders, finance ministers as well as representatives from regional and international financial institutions, that an optimal adjustment strategy cannot ignore the principal casualties of fiscal tightening.

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11 Comments

  1. Papso
    May 24, 2013

    All the local banks are literally closing people down with their highinterest rates.

    How can you be giving loans at 10 percent when the prime rate is below 4 percent.

    criminal.

    all it means is the same people dominate the economy.

    • May 26, 2013

      People with excellent credit ratings get the four (4) percent interest rate. People with low or poor credit ratings get the 10 percent interest rates. That is a risk. Some people are just qualified for the lowest interest rates.

  2. Sargeant
    May 24, 2013

    Hope the Government of Dominica is taking the necessary implementations.

  3. Bounty
    May 23, 2013

    True! Time for governments and the people to give the banks a good warning. Everybody should move their money to the Cridit Unions. The banks bottom line, middle line and top line are their own interest. This cant go on forever.

  4. JUDGE DREDD
    May 23, 2013

    that not for us in dominica because we doing so well we even helping other caribbean countries financially

    • May 26, 2013

      Really, some people do not see it that way. I guess the ones complaining poverty/hardship will disagree with you.

  5. Don't Edit
    May 23, 2013

    last i heard from the pm dca was spared from the international recession.. even loaning money to other countries.

    • May 26, 2013

      As bad as the economy is, every PM lends a hand to the other. You scratch my back and I will scratch yours.

  6. Israel
    May 23, 2013

    This is so typical. A general statement about broad issues to consider but no specifics as to how objectives can possibly be accomplished. This is the reality of Europe also of course a robust economy is the answer, but what are the real possible drivers?

    • Gary
      May 24, 2013

      Your comment is so true.These so called Bankers love to speak in their esoteric language that is how they operate, words and jargon,”Imperatives for Securing Our Caribbean Future” I would like to ask Dr Warren Smith to describe the future he is talking about,I guess having the people in the Caribbean living with austerity measures. What they are simply telling the Caribbean Leaders is that they are not making enough profit and so they are looking at calling in their loans,simply asking the Governments to pay up,the old banking trick.

  7. Muslim_Always
    May 23, 2013

    The core of economic downfalls of countries = Usury/interest.

    Alternative – the banks needs to revolutionize it’s monetary policies and kick interest/usury into the dustbin of history pure and simple.

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