The Caribbean’s road to recovery from the economic effects of COVID-19 could be a long and testing trek particularly for countries whose economies are hinged to a tourism industry battered by the ravages of the COVID-19 pandemic, the International Monetary Fund (IMF) says in its most recent “Country Focus” on the Caribbean, released last week.
Now seemingly better positioned to assess the economic consequences of the pandemic for the various countries in the region, the Fund says that countries that are heavily dependent on tourism are now at risk of becoming COVID-19 “long-haulers” insofar as economic recovery is concerned.
“Much the same as some patients could suffer from lingering illnesses long after the coronavirus infection has passed, the pandemic’s economic fallout might be felt in the region long after the health emergency is controlled,” the Washington-based financial institution says in its recent “Country Focus.” The reason for this, it says, has to do with the fact that most countries in the region rely on tourism for generating income and providing employment.
