PM Expresses Concern Over Slow Down in US Economy

Contact: Roger Joseph

Thursday, March 15, 2001 – Prime Minister, Honourable Dr. Kenny Anthony is expressing concern over Wednesday’s sharp declines in the United States and Tokyo stock exchanges. These developments, Dr. Anthony says, could have serious implications for the economies of St. Lucia and the Eastern Caribbean.

The Prime Minister says Caribbean economies are already under considerable stress due to rising fuel prices and such declines in the US and Japanese stock markets could mean even greater pressures on the economies in the sub-region. Dr. Anthony suggests that if this slow down in the US economy in particular continues, it will impact negatively on St. Lucia’s tourism prospects, something which the island can ill afford at this time.

These developments, the Prime Minister adds, signals clearly our own vulnerabilities to the vagaries of the international economy. In the meantime, the government continues to monitor the declines in the US and Japanese stock markets.

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