Guyana’s economy lauded by CDB
Vice President of Operations at the Caribbean Development Bank, Dr. Carla Barnett lauded the outstanding performance of Guyana’s economy.
Dr. Barnett made the comments in respond to questions from the media on the repayment of loans by some Caricom countries given the fact that there are countries that were affected by the global financial crises.
“The international financial crises has impacted the region quite profoundly and the impact has been on the CDB the demand for additional borrowing because our borrowing member country has severe constraints, capacities to borrow at this time for many of the countries we have seen growth actually decline; Guyana is an exception to that and in the last few years we have seen the economy of Guyana actually expand and we would like to help the minister consolidate that growth.”
The CDB Vice President adds that there has not been a decline in contributors bringing monies to the bank. Currently the bank is negotiating the Special Development Fund aid which provides money for programmes under the basic needs trust fund.
The CDB is a regional financial development institution established by an agreement signed on October 18, 1969 by 18 countries and territories, including all the then Carifta member states.
Its purpose is to contribute to the harmonious economic growth and development of the member countries in the Caribbean and to promote economic cooperation among them, having special and urgent regard for the needs of the less developed members of the region.
Membership of the CDB is open to states and territories of the Caribbean region as well as non-regional states which are members of the UN or any of its specialised agencies.