Jamaica Forecasted To Grow Little In 2010

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CaribWorldNews, WASHINGTON DC, Thurs. April 22, 2010: The Jamaican economy is expected to grow very little or even contract in 2010.

That`s the word from the World Bank. The Bank`s regional chief economist Augusto de la Torre made the prediction in an analysis of the Latin American and Caribbean region, released Wednesday.

In his report `From Collapse To Recovery,` de la Torre predicts a less than one percent growth for Jamaica this year.

Jamaica and Venezuela will either show negligible expansion or fall into negative territory, de la Torre said, pointing out countries in Central America and the Caribbean are lagging behind.

Caribbean nations like Antigua and Barbuda, St. Kitts and the Bahamas are forecasted to register a negative growth.

However, de la Torre predicted a 4 percent growth for the Latin American region as a whole in 2010, with Brazil topping projections with an estimated 5.5 percent expansion, closely followed by Peru, Chile, Panama and Mexico, individually expected to post growth in the 4 percent range.

Countries such as Argentina, Bolivia, Colombia, Costa Rica, Dominican Republic, Paraguay, and Uruguay will also grow closely below the regional projected average of 4 percent, he added.

 

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