US meltdown affects St Lucia

St Lucia’s Trade, Investment and Commerce Minister Rufus Bousquet said development projects are being stalled because of the US financial meltdown.



He said St Lucia could be affected by the downturn in the Unites States because of its dependence on international trade and foreign investment.



According to Bousquet, the St Lucian Government is working to adjust the developmental agenda to deal with specific problems such as unemployment.









Last week, the St Lucia Chamber of Commerce, Industry and Agriculture, warned of possible fallout as a result of the US financial crisis.



Executive Director, Brian Louisy said it may be too early to indicate exactly how St Lucia would be hit.



But he said there could be a slump in tourism and foreign investment.