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A new Inter-American Development Bank (IDB) report has warned that Caribbean countries should prepare for the prolonged effects of external economic shocks in 2023. Those shocks include high food and fuel prices and rising international interest rates. According to the IDB, higher interest rates could lead to economic slowdowns, or even recessions in important source markets for exported services and goods from the Caribbean. The Bank's report has as its title: ' Headwinds Facing The Post-Pandemic Recovery.' It observed that the impact of economic shocks would depend on the trade structure of individual countries and their external financing requirements. 'Hopefully,
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