Nevis Financial Secretary – Laurie Lawrence
Charlestown, Nevis
November 27, 2008
A top financial official in the Nevis Island Administration (NIA) has given his opinion of the economic forecast of the Caribbean territories, with regards to the ongoing global financial turmoil.
Financial Secretary in the Ministry of Finance of the NIA, Laurie Lawrence said the “spill over” from the global crisis had brought to the fore the interconnectivity of the world markets.
Mr. Lawrence was the chairman for the 15th ministerial meeting of the Caribbean Financial Action Task Force (CFATF), held at the Marriott Beach Resort on St. Kitts on November 21, 2008.
He pointed out that financial stakeholders were led to a greater understanding of its shared responsibilities and obligations in all of the critical areas which impacted on the economic prosperity and national security of the Caribbean. Mr. Lawrence further stated that OECD countries could not solve this problem alone and called for the adoption a serious approach.
“In fact, negative growth is projected for many of the OECD countries in 2009 and as a result the emerging economies are expected to drive world economic output in spite of their own economic difficulties”.
