When I came to Trinidad for university in 2008 one of my hopes were that by the time I returned to the federation in 2011 the global economy would have already began to make a positive turn from its recessional state over the last few years. I somewhat wanted to “ride out the storm” while in university. Recent worldwide reports and headlines have been indicating that for the most part the recession seems to be over and even have indicated growth trends for different major economies. If this is so it is certainly good and welcomed news.
Pre- Jan 25th (The Kittitian equivalent of September 11th) the government of St. Kitts & Nevis painted a very positive economic picture in the minds of citizens, or at least they certainly tried to. They did so even while numerous other intellects and reports suggested differently. We constantly heard the terms surpluses, increase in passenger arrivals, employment, increase in construction, etc. The idea was given that St. Kitts & Nevis although one of the smallest and most dependent and vulnerable economies in the world, somehow managed to be semi-immune to the effects of the global economic woes. It was working they lamented, “E A WUK!”
Post 25/1 we have seen some interesting developments in the federation. Mass Layoffs, forced retirements, budget cuts (less money for police, hospital, roads etc), privatization of government corporations and other austerity measures. To top that off, there will now be the implementation of a Value Added Tax (VAT) effective November 1st. In a recent news item (link will be posted below) an IMF report indicated that St. Kitts will have the lowest growth rate in the region and last among the 150 countries listed over the next 5 years. Now for me, and other returning and soon to be returning university students like myself this next 5 year period is a very critical time in our lives and for our development. In light of all the recent economic developments I alluded to earlier, where would this leave us?
It appears as though I was able to “ride out” the global economic storm and will be going home right in time for the St. Kitts economic meltdown. And here it was that I thought it was working (sarcasm). What a difference one day makes.
