WASHINGTON, CMC – The International Monetary Fund (IMF) says low-income countries (LICs), including the Caribbean, have “bounced back” in the past two decades.
An analysis in the Washington-based financial institution’s latest World Economic Outlook (WEO) suggests that “dynamic low-income countries are on a stronger economic footing today than before the 1990s, and, therefore, better placed to stay on course.”
After a first wave of growth takeoffs—expansion in per capita output for at least five years averaging at least 3 ½ percent a year—by low-income countries in the 1960s and early 1970s, there were fewer in the 1980s, the report says.
