Region warned not to lose sight of long-term economic development

(CMC):



Caribbean countries have been warned not to lose sight of the bigger goal of economic transformation and development even as they remain preoccupied with overall economic growth.



Former Deputy Director of the Central Bank of Trinidad and Tobago, Dr Shelton Nicholls, said Caribbean countries need to ensure that the strategies do not just address the current challenges but lead to achieving a sustainable development path.



Nicholls said while the preoccupation with economic growth in the region is undoubtedly critical, the Caribbean region should ensure that it does not lose sight of the bigger goal of economic transformation and development.



He warned that short-term tinkering alone with macroeconomic and financial environment while crucial for economic stabilisation, may not give the boost that is needed to push economies out of the current circumstances.



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