IDB: Caribbean economies performed strongly in 2012

The Inter-American Development Bank (IDB), says Caribbean countries performed well this year but still face several challenges.



IDB President Luis Alberto Moreno, says despite the strong performance of the economies of Latin America and the Caribbean, the region needs to continue to pursue key reforms to ensure growth in the future.



In year-end remarks to the IDB´s Board of Executive Directors, Moreno said the region, boosted by high commodity prices, continued to grow its trade with the world.



However, he said many challenges remain, noting that trade among Latin American and Caribbean countries is still too low, at 19 per cent of overall trade.



He urged countries to lower their country costs by investing in infrastructure.



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