Member countries of the Eastern Caribbean Currency Union
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2006-2007 , pp 279-283
- Publication Date: April 2007
- DOI: https://doi.org/10.18356/d0195469-en
- Language: English
In 2006, the economies of the Eastern Caribbean Currency Union (ECCU) recorded growth for the fifth consecutive year, following a contraction in activity in 2001, when tourism and FDI were dampened by fallout from the events of 11 September. The 7.1% expansion exceeded the 2005 rate of 5.8% and was the highest for the five-year period. This reflected the dynamism exhibited by the construction industry as the countries undertook to construct or modernize stadiums, road networks and other infrastructure, while the private sector expanded the capacity of hotels and other accommodation facilities in preparation for the Cricket World Cup. The demand pressure associated with accelerated growth did not affect price levels, however, as inflation eased from 4.6% in 2005 to 1.4% in 2006.
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