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Wednesday, 01 April 2009
Prime Minister Bruce Golding says there are encouraging signs that the end of the global financial crisis is in close view.
Mr. Golding, who was speaking at the opening of the International Labour Organization Tripartite Caribbean Conference, said there were positive indications both locally and internationally that the financial storm will end soon.
"There are early signs that the end of the recession may not be as far off as we had thought but we are still in it and we haven't bottomed out yet. The suggestion from analyst recently is that we may bottom out somewhere in the middle of this year as against the end of this year which is what they were projecting before and that we could see recovery in early 2010 rather than in late 2010 early 2011 as was originally pointed out," said Mr. Golding.
He said with this in view developing countries must take a different approach to development.
Mr. Golding said for far too long the rest of the world has looked at the developing world as dependent.
He said the change of this view must be encouraged, therefore when the world returns from the crisis more will be required for poorer countries in terms of manufacturing and investment