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Carlene Y. Francis

Over the past three to four years, Grenada, a member of the Caribbean Community (CARICOM) and the Eastern Caribbean Currency Union (ECCU), has been one of the fastest growing of the member countries of CARICOM (see chart, this page). Its success has been largely due to determined efforts aimed at strengthening the economy and diversifying its export product base.

International Monetary Fund. External Relations Dept.

“In the aftermath of the terrorist attacks of September 11, a coordinated international response is needed to deal with weaknesses in the world economy and the new risks in the outlook,” IMF Managing Director Horst Köhler said in a statement issued on October 5. He added that “the IMF, its 183 member countries, and the international community more generally will need to respond with sound policies to reduce the likelihood of a sustained slowdown and make sure we are ready to deal with a deeper and longer downturn if it does emerge—thereby limiting the disruption and attendant human costs.” Excerpts from Köhler’s statement follow.