So which Caribbean countries are set to see real GDP growth this year? Here is News Americas NowTop 5 pick based on the IMF data:
1: The Dominican Republic
The DR tops the list with the IMF forecasting the country’s Gross Domestic Product (GDP) to grow by 5.3 percent, the most of any country in the Caribbean and Latin America.
2: St. Kitts & Nevis
Taking the second spot on the Caribbean growth list is St. Kitts & Nevis, with economic growth this year forecast at 3.5 percent, comparable to Peru in South America.
The South American CARICOM nation of Guyana is also expected to see high growth this year, with the IMF forecasting GDP growth by 3.5 percent, as well, comparable to both St. Kitts & Nevis as well as Peru.
Taking the fourth spot is Dominica, which has been slammed recently for its Citizenship by Investment Program. The IMF, however, says the Eastern Caribbean nation will see growth by 3 percent this year in its GDP.
Rounding out the Top 5 list is the Central American CARICOM nation of Belize, which is also forecast to grow by 3 percent this year, more than giants Brazil, Mexico and Argentina.
Still, Alejandro Werner, Director of the IMF’s Western Hemisphere Department, warns: “With heightened policy uncertainty at the global level but low market volatility, countries in our region should focus on insuring against downside risks, while targeting strong, sustainable, and inclusive growth.”