ANNUAL REPORT 2015

Economic recovery from the global financial and economic crisis that started in 2008 has been weak. Overall investment in real assets has been slow and there has been little improvement in productivity. Many governments worldwide have had to defer investment in infrastructure as part of their fiscal consolidation efforts.

 

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ANNUAL REPORT 2016

Global economic recovery continued in 2015, but at a slower pace than expected. Global growth fell to 3.1% from 3.4% in 2014, driven primarily by the slowdown in China and low commodity prices. Caribbean economies consequently remained under strain and overall issue of new debt securities muted. Notwithstanding these difficult conditions, I am pleased to report that Caribbean Information and Credit Rating Services Limited (CariCRIS) performed creditably.

 

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ANNUAL REPORT 2017

2016 was another difficult year for the world economy, marked by sluggish global trade, weak investment and heightened policy uncertainty. Caribbean economies also experienced a challenging year, with the major commodity exporters all experiencing weaker performance than in 2015, though the service-based economies fared somewhat better with a pick-up in tourism. Notwithstanding these overall strained conditions, I am pleased to report that Caribbean Information and Credit Rating Services Limited (CariCRIS) performed well.

 

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ANNUAL REPORT 2018

2017 was a mixed year for Caribbean countries. Although more stable than in 2016, the overall macroeconomic situation in the region remained vulnerable and exposed to the impact of climate change and natural disasters. Notwithstanding this overall difficult operating environment, I am pleased to report that Caribbean Information and Credit Rating Services Limited (CariCRIS) had another successful year, albeit with reduced profitability due to rising costs. The Company recorded total revenue of USD1,254,148 in the year ended 31 March 2018, in line with revenue for the prior year of USD1,248,725, and a profit after tax (PAT) of USD153,980, down by 18% (USD34,553) from the PAT of USD188,533 achieved in the prior year.

 

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