Economy & Business - November 2021

CARIBBEAN: The talking goes on

In our October issue [EB-21-10] we reported in brief on the call by United Nations (UN) Secretary General António Guterres to address the developing crisis of debt distress, which he described at the 15th session of the UN Conference for Trade and Development (Unctad) as the “dagger through the heart of global recovery”. In any discussion of over-indebtedness, the Caribbean nations feature heavily, and back in March 2021 the UN was forthright in its warning that “the severe fiscal impacts of the [Covid-19] crisis are triggering debt distress in a growing number of countries”. Such warnings and calls for action have continued, but so far with little concrete result.

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