The private consumption and external demand which stimulated economic growth in Barbados and the region in recent times, will weaken this year, causing Latin America and the Caribbean economies to lose some steam amid rising global uncertainty.
That is the prediction of the Economic Commission for Latin America and the Caribbean (ECLAC).
The United Nations agency is recommending that countries in the region strengthen their fiscal policy
to make public purses more sustainability, something it deemed necessary “as high debt levels limit governments’ ability to respond to adverse shocks or expand public investment spending”.
ECLAC gave the advice in the recent presentation of its flagship Preliminary Overview of the Economies of Latin America and the Caribbean 2025 report, which was released by its executive secretary, José Manuel Salazar-Xirinachs in Santiago, Chile.
