April 26, 2022
The IMF is expecting global growth to slow from 6.1% in 2021 to 3.6% in 2022-23 and 3.3% over the medium-term. Note that global growth below 3% is considered a global recession, and already the IMF shaved 0.8 and 0.2 percentage points off its 2022 and 2023 growth projections just three months after initially publishing them, demonstrating the high level of uncertainty prevailing and downside risks to the outlook. The IMF Managing Director recently advised “when the sun is shining, fix the roof!” Alas. In March, the IMF released its Staff Report for T&T, highlighting the gaping holes in our roof.
2022-04-Caribbean-Monthly-Report