DBS TV St Lucia Loading

Day: December 24, 2024

PM Pierre Links Port Congestion To Rapid Economic Growth; SLASPA Raises Alarms

Prime Minister Philip J. Pierre has attributed the mounting pressure on the Castries cargo port to the rapid economic growth experienced in Saint Lucia. The St. Lucia Air and Seaports Authority (SLASPA) has raised alarms over the limited space available for containers at the port. While the Prime Minister acknowledged plans to expand port operations, he did not provide specific details about upcoming infrastructural upgrades.

Positive Outlook: ECCB Projects 4-5% Regional Growth

In his Christmas message, Timothy Antoine, Governor of the Eastern Caribbean Central Bank, highlighted the strength of the Eastern Caribbean Dollar, which is currently backed by 98.3% and supported by growing reserves. He also forecasted a projected economic growth of 4-5% for the Eastern Caribbean Currency Union, driven by factors such as tourism and enhanced air connectivity.