Montserrat experience economic slowdown

An International Monetary Fund (IMF) mission to member countries in the Eastern Caribbean Currency Union is predicting a slowdown in economic activity in Montserrat for this year.



After concluding its visit to the volcano-impacted island, the mission said that Montserrat continues to face a unique and challenging operating environment.



The IMF said renewed volcanic activity, declining population, and inadequate external transportation linkages continue to limit the British dependency’s growth potential.



It said while economic growth increased to about 3.5 percent last year, activity is expected to slow significantly this year as construction and private sector development are dampened by the global downturn.