IMF calls on countries with CBI programmes to curb spending as tourism fall-off expected

Source: SKNVibes

THE International Monetary Fund (IMF) has called for territories across the Organization of Eastern Caribbean States (OECS) and the wider Caribbean to cut spending and save their buffers, as a drop-off in tourism numbers is expected in the coming months.

That call comes against the backdrop of the Fund cutting its outlook for tourism dependent states due to the ripple effects of the rising inflation.The IMF is painting a grim picture for Latin America and the Caribbean for 2023, as the world continues to seek ways to rebound from the economic shock brought by the rapid increase in inflation numbers being seen in all corners of the globe.

Those shocks were as a result of the continued war in Ukraine, global supply chain issues and the continuing flux in gas prices.

Share Post:

Stay Connected

More Updates

Water rationing extended on Nevis

The Nevis Water Department announced yesterday that it had extended the current water rationing schedule to different parts of the island. “The schedule previously published