Description

While current Global Financial Economic Crisis is still unfolding, it is envisaged that the effects on the real economy will be more visible and serious. The drop in global demand, falling commodity prices, lack of credit, retreat of foreign investment will hit the agriculture sector hard. A recent review of the agricultural sector suggests the major effects that the global economic down turn will have on St. Lucia’s agriculture sector. Notwithstanding this, the agricultural sector still provides probably the best opportunity for the country to ride out the economic downturn and come out stronger economically than ever before. This paper describes the opportunities and challenges identified, as well as some actions to revitalize the sector in this crisis