Caribbean governments have been urged to speed up legal and regulatory reform amid predictions of slower economic growth for the region, following last year’s mixed fortunes.
The advice came yesterday from the Caribbean Development Bank (CDB) which said that overall growth remained sluggish.
In its annual review of the performance of regional Borrowing Member Countries (BMCs), the Bank said the global economic difficulties of 2015, including the slowdown in China and its effect on markets elsewhere, had an overall negative impact on the region.
The vulnerability caused by a heavy reliance on overseas markets, as well as the impact of natural disasters such as storms and drought particularly in Dominica and The Bahamas, also stymied growth.
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