1945

Member countries of the Eastern Caribbean Currency Union

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.

Related Subject(s): Economic and Social Development
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