The International Monetary Fund (IMF) expects Barbados and others in the region will benefit given recent growth projections for the US economy.
Acting director with the IMF’s Western Hemisphere Department, Nigel Chalk, during an economic outlook press conference, says Americans are shifting their spending from goods to services and travel.
Mr Chalk revealed the western hemisphere has proven to be very resilient in the face of multiple shocks over the last few years and must now manage another challenge. Growth in the region is projected to slow to 1.6 per cent this year after a remarkable four per cent in 2022.
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