The economy of St. Vincent and Grenadines contracted by 1 percent in 2009 after growing to an average of approximately 8 percent from 2006 to 2007, according to Nita Thacker, head of an International Monetary Fund mission that visited the Caribbean country May 12-21. Thacker added that the country’s overall balances worsened in 2009, with the budget deficit reaching some 3.3 percent of the gross domestic product. On a slightly positive note, inflation fell to 0.4 percent in 2009 from 10 percent in 2008. This was due to the decline in the international prices of food and fuel, Thacker said.
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
