Central America and Caribbean's best bank 2019: BAC International Bank
Awards for Excellence 2019
Economic growth is strengthening in central American and the Caribbean. The IMF expects the region to grow at about 2% this year and 2.5% next year.
However, while that’s certainly an improvement on last year’s result of a little over 1%, it still lags behind the 3%+ of the emerging market average.
Fiscal constraints have been pushing down economic growth rates, while global headwinds in the form of trade concerns have added uncertainty to what are mostly export-led models of growth.
Lower oil prices, if sustained, should help the majority of the fuel-importing countries. However, attempts to develop a greater focus on the region’s internal market – combined GDP of more than $250 billion and population of around 50 million – have been fitful.
Integration of these fragmented economies continues to be frustrated by political systems that are more than lightly sprinkled by populism, while the great gravitational weight of the US economy to the north is understandably a greater prize for politicians and business.