St. Vincent and the Grenadines

    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.

    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.