In its recent outlook for Latin American and Caribbean sovereigns for 2013, Moody’s says the 27 per cent gross foreign direct investment (FDI) ratio in this nation led the Latin American and Caribbean region in 2012. It also is one of only two projected to achieve above average economic growth in 2012 and also is set to grow significantly above trend in 2013. As a point of reference, Moody says “From 2009 to 2011, the median investment ratio in Latin America and the Caribbean was 21 per cent of GDP compared to 25 per cent in Asia."

“No country is projected to report annual rates of more than 1.5 per cent with the exception of The Bahamas, which will report growth of some 2.5 per cent”, Moody’s said in its analysis of Caribbean economies in 2013.

The Moody’s report nonetheless noted that the Government still had much work to do on the fiscal side, noting the worsening of the fiscal balance by more than 4 percent of GDP between 2008-2012, and a foreign currency debt equivalent to 20 per cent of GDP.