Caribbean Forecasts Roundup: Covid-19 To Push Region Into Deep Recession

• The global Covid-19 pandemic will hit the Caribbean region hard in the coming months, as the tourism industry grinds to a halt and domestic activity contracts given restrictions on travel and commerce.
• Fitch has sharply revised down its 2020 real GDP growth forecasts across the region, using historical benchmarks such as the Global Financial Crisis and major hurricanes to estimate the likely impact.
• While it is expected the region will begin to recover in late H220 as the coronavirus is contained globally, risks to this view are high, potentially pushing a recovery into 2021.

 (Source: Fitch)