Monday, January 24, 2005
A financial crisis could be looming on the Caribbeans horizon if the rapid growth in the public debt of some countries is left unchecked.
This warning has come from Jwala Rambarran, chief economist for Caribbean Money Market Brokers (CMMB).
Rambarran says seven Caribbean nations are within the top 10 of the worlds most indebted emerging markets. He identified rising public debt as the biggest risk facing the Caribbean in 2005.
Rambarran sounded his warning while addressing the second annual CMMB Global Economic Review and Capital Markets Outlook seminar.