49.7 per cent.
Though the new 47.9 per cent projection is a marginal, downward revision, it is still greater than the 26 per cent growth rate that had been projected in a June 2021 report.
The cut-off date for the data that informed the new projections, the Bank said, was March 2022. The country with the second-highest growth projection for 2022 is Barbados, with an 11.2 per cent expected growth rate.
Notably, in this semiannual report, the World Bank briefly mentioned Guyana’s vulnerability to flooding. Like other countries in the LAC region, the Bank pointed out that climate change poses significant challenges to the local economy.
“Coastal cities are also threatened by sea level rise; 60 of the 77 most densely populated cities in the region are located on the coast,” the World Bank said.
It also highlighted that without climate adaptation measures, agricultural production in the region may be hard-hit. And altogether, the Bank warned that climate change could drive million of people in the LAC region back into extreme poverty.
