The International Monetary Fund (IMF) has given a bleak outlook for economic growth in the region, stating that real gross domestic product (GDP) growth in Latin America and the Caribbean is expected to occur at its slowest pace since 2016 this year.

Specifically, tourism dependent economies like The Bahamas’ are projected to expand by 1.9 percent in 2019 and 2020, slightly lower than the 2 percent growth projected in April in the World Economic Outlook forecast.

IMF Director of the Western Hemisphere Department Alejandro Werner said regional growth for The Bahamas and the rest of the Caribbean continues to be impeded by high public debt, poor access to finance, high unemployment and vulnerability to commodity and climate-related shocks.

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