Grenada Broadcasting Network

25th May 2022

  

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The Eastern Caribbean Currency Union is projecting a sharp contraction in economic activity throughout the ECCU that is estimated to be between 1 and 20 percent in 2020.

The tourism sector as the lead sector has been grounded to a halt and unemployment which has sharply risen may now be as high as 50 percent in some countries.

With the unknown of when the tourism industry will rebound, the ECCU is also projecting a protracted recovery process as the economic damage may outlast the pandemic.

In all of this, the currency union is boasting that the EC Dollar remains strong.

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