As international organizations continue to increase their focus on the prognosis for the pace and extent of recovery of Caribbean economies from the effects of the COVID-19 pandemic, the World Bank last week was projecting, although it is likely to take a ‘degree of’ recovery ” in the Caribbean Community (CARICOM) countries this year, the lasting impact of the pandemic despite that, the magnitude of that recovery was unlikely to be sufficient to compensate for the damage of 2020.
During a Caribbean Media Corporation (GDP) roundtable with journalists from the region last week, World Bank President David Malpass appeared to be skeptical about the 3.8% economic recovery figure proposed by Development Bank Caribbean (CDB) Barbados recently. The World Bank, he said, will soon release its own projections. “We will come out with our own forecast for the region, but your general point is right that we expect some recovery in the Caribbean but not enough to offset the decline in 2020,” Malpass somewhat cautiously. noted.