Fewer Tariffs, Reduced Tax on Basic Food Items Could Help Caribbean Countries Amid Rising Global Inflation

Principal Consultant of MaxGwen Limited, Therese Turner-Jones, says the reduction of tariffs and taxes on basic food items could help struggling Caribbean countries manage the rising inflation rates.

Mrs.Turner-Jones was speaking on Nationwide This Morning.

Last week, President of the World Bank, David Malpas, said all monetary tools should be brought to bear as he fears the world will inevitably slip into a recession.

Mrs. Turner-Jones says some global events are causing significant impact on poor developing nations.

Mrs. Turner-Jones says the current export ban on food products being used by some countries is not a good response to the global crisis.

Therese Turner-Jones, Principal Consultant of MaxGwen Limited.

And, Director of Caribbean Development Research Services, Peter Wickham, also agreed that poor developing nations within the Caribbean stand to bear the brunt of rising inflation rates.

However, Mr. Wickham noted that some Caribbean countries are able to cope with increased energy costs.

Peter Wickham, Director of Caribbean Development Research Services.

He was also speaking on Nationwide This Morning.