top of page
Search
  • _

saint Lucia

Saint Lucia is a sovereign island state. An educated workforce and improvements in roads, communications, water supply, sewerage, and port facilities have attracted foreign investment in tourism and in petroleum storage and transshipment. However, with the U.S., Canada, and Europe in recession, tourism declined by double digits in early 2009. The recent change in the European Union import preference regime and the increased competition from Latin American bananas have made economic diversification increasingly important in Saint Lucia.

The island nation has been able to attract foreign business and investment, especially in its offshore banking and tourism industries, which is the island's main source of revenue. The manufacturing sector is the most diverse in the Eastern Caribbean area, and the government is trying to revitalize the banana industry. Despite negative growth in 2011, economic fundamentals remain solid, and GDP growth should recover in the future.

Inflation has been relatively low, averaging 5.5 percent between 2006 and 2008. Saint Lucia’s currency is the Eastern Caribbean Dollar (EC$), a regional currency shared among members of the Eastern Caribbean Currency Union (ECU). The Eastern Caribbean Central Bank (ECCL) issues the EC$, manages monetary policy, and regulates and supervises commercial banking activities in member countries. In 2003, the government began a comprehensive restructuring of the economy, including elimination of price controls and privatization of the state banana company.[9]

0 views0 comments

Recent Posts

See All

This book is on an Uthopian Small Islland Development State (in the Caribbean). It covers: The individual The family The education The neigborhood Living Work Governance This Uthopia is powerd by info

Even institutions like The Economist are concerned about the lack of jobs in the future due to the progress of technololigicale developments and the implementations of these. http://www.economist.com/

I admire does who talk about the future with conviction, because the future is unknown. Someone said the best we to predict the future is to create it. I do not know. The future has changed. The chang

bottom of page