The Caribbean Development Bank (CDB), which is the region’s premier development banking institution, in its annual review of regional economies, highlighted Grenada’s “stronger than marginal growth” for 2011.
In a May 23rd, 2012, News Release coming out of the Cayman Islands, where the CDB’s 42nd Annual Board of Governors Meeting is currently being held, the CDB is reported as stating that “Caribbean Community (CARICOM) countries recorded mixed economic growth last year as they continued to grapple with the fallout from the global economic and financial crisis…. The growth ranged from a downturn in countries like Trinidad and Tobago, Antigua and Barbuda and St. Vincent and the Grenadines to marginal growth in CARICOM countries like Barbados, St. Lucia and the British Virgin Islands.” However, “The Bahamas, Belize Dominica, Jamaica and Grenada all recorded “stronger than marginal growth” while only Haiti and Guyana had economic growth in excess of five per cent.”
Grenada’s Finance Minister and Governor on the CDB Board, Hon. V. Nazim Burke who is representing Grenada at the Annual Meetings, welcomed this finding of the CDB and noted that “Grenada continues to make slow but steady progress in its economic recovery”.
Also representing Grenada at the meetings are: Mr. Timothy Antoine (Alternate Governor, CDB) and Mr. Mervin Haynes (Director, CDB).
The CDB Annual Meetings provide the forum for key decision making with respect to the strategic priorities of the Bank.