But, while only three of the bank's member countries showed negative growth - overall the region was down almost one percent. That's because Trinidad's economy had a major downtown, and that island nation accounts for a third of the entire Caribbean's economic output. Dr. Ram said that it's part of a global decline last year:
Dr. William Warren Smith - President, CDB
"My sense though, is that over all, economic growth across our region remains somewhat uneven, and that fragile recovery, especially in the larger borrowing member countries, will continue into 2017. Regional fiscal performance is, however, caught in a vicious cycle. Because economic growth rates are so low, many governments are unable to generate the primary balances needed to correct adverse debt dynamics, so public death remains unsustainably high. Now more than ever regional governments cannot get distracted and relax their resolve to stay what might appear to be a painful course. Instead, they most become even more vigilant. Their commitment to doing the right thing will help to build confidence and ultimately stimulate private interests in growth enhancing investments."
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