Fostering Export Diversification and Structural Change in the Caribbean

As part of the repositioning of the economies of the subregion, economic diversification, and structural change are vital. To achieve these, the subregion must build the requisite economic resilience, among other things, and these must be buttressed by regional integration drivers and various forms of cooperation

Exploring the elements of an optimal hydrocarbon fiscal regime

The study analyzes the process for the awarding of blocks among select countries within the western hemisphere, namely Brazil, Guyana, Mexico, Suriname and Trinidad and Tobago. The findings allow for the determination of key elements of what can be considered an optimal hydrocarbon fiscal regime for Caribbean economies that would allow governments to get their fair share of hydrocarbon rents, while ensuring sufficient exploration and production activity. The study therefore suggests that for the Caribbean, the optimal fiscal regime should include a reservation price, royalties, and a windfall tax. Mindful of the sunk costs which may be incurred by the multinationals in exploration and production activities, invariably, fiscal incentives would be necessary. The study, however, argues in favor of collusion among oil and gas endowed regional countries in pursuit of hydrocarbon sector FDI. This would simultaneously avoid the proverbial race-to-the-bottom and go a long way in optimizing each country’s hydrocarbon rents.I. Modalities for awarding acreage and blocks .-- II. Exploration and Production acreage allocations and fiscal regimes in Latin America and the Caribbean .-- III. Comparison of fiscal regimes .-- IV. Policy recommendations .-- V. Conclusion

Proposal to establish a Caribbean Resilience Fund: A segregated portfolio trust fund

Caribbean economies have been grappling with high debt, low growth and structural challenges which have been exacerbated since the onset of the COVID-19 pandemic. There is, therefore, an urgent need to reduce debt and promote resilience building for these economies. The Economic Commission for Latin America and the Caribbean (ECLAC) has proposed the establishment of the Caribbean Resilience Fund (CRF) as a mechanism to contribute to the achievement of these critical development goals. The CRF is a special purpose financing vehicle intended to leverage long-term low-cost development financing for the Caribbean, while at the same time ensuring the availability of resources for investment in adaptation and mitigation initiatives, in the development of green industries thereby promoting resilience building and the structural transformation of Caribbean economies. To advance the implementation of the CRF, this study provides a roadmap for its structure and establishment, which comprises three distinct thematic windows. They include resilience building; inclusive growth and competitiveness; and liquidity and debt reduction

Economic Survey of the Caribbean 2022

This survey examines the economic performance of economies of the Caribbean in 2021 and the first few months of 2022 and comprises five chapters. The first chapter gives an overview of global, regional and subregional economic performance in the Caribbean. The second provides an analysis of the subregion’s fiscal performance and debt burden. The third looks at monetary policy and their impacts. The fourth is focused on the external sector, while the fifth concludes.Abstract .-- I. Global and subregional performance .-- II. Fiscal and debt performance .-- III. Monetary Policy and Prices .-- IV. External sector developments .-- V. Conclusion

Economic Survey of the Caribbean 2021

This survey examines the economic performance of economies of the Caribbean in 2020 and the first few months of 2021 and comprises five chapters. The first chapter gives an overview of global, regional and subregional economic performance in the Caribbean. The second provides an analysis of the subregion’s fiscal performance and debt burden. The third looks at monetary policy and their impacts. The fourth is focused on the external sector, while the fifth concludes

Preliminary overview of the economies of the Caribbean 2021–2022

This overview examines the economic performance of economies of the Caribbean in 2021 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago, and a subregional assessment of the countries of the Eastern Caribbean Currency Union.Abstract .-- Introduction .--- I. Macroeconomic performance. A. Fiscal and debt. B. Monetary policy, domestic credit and inflation. C. External sector .-- II. Conclusion

Preliminary overview of the economies of the Caribbean 2020–2021

This overview examines the economic performance of economies of the Caribbean in 2020 and comprises four chapters. The first chapter provides a comparative analysis across Caribbean economies of the main macroeconomic variables, namely GDP growth, monetary indicators, as well as fiscal and external accounts. The second chapter looks at areas of focus in the Caribbean. The third chapter concludes, while the annex includes individual country briefs that give an overview of the economic situation for the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname and a subregional assessment of the countries of the Eastern Caribbean Currency Union.Abstract .-- Introduction .-- I Macroeconomic performance. A. Fiscal and debt. B. Monetary policy, domestic credit and inflation. C. External sector .-- II. Conclusion

Transcatheter interatrial shunt device for the treatment of heart failure with preserved ejection fraction (REDUCE LAP-HF I [Reduce Elevated Left Atrial Pressure in Patients With Heart Failure]): A phase 2, randomized, sham-controlled trial

Background -In non-randomized, open-label studies, a transcatheter interatrial shunt device (IASD, Corvia Medical) was associated with lower pulmonary capillary wedge pressure (PCWP), less symptoms, and greater quality of life and exercise capacity in patients with heart failure (HF) and mid-range or preserved ejection fraction (EF ≥ 40%). We conducted the first randomized, sham-controlled trial to evaluate the IASD in HF with EF ≥ 40%. Methods -REDUCE LAP-HF I was a phase 2, randomized, parallel-group, blinded multicenter trial in patients with New York Heart Association (NYHA) class III or ambulatory class IV HF, EF ≥ 40%, exercise PCWP ≥ 25 mmHg, and PCWP-right atrial pressure gradient ≥ 5 mmHg. Participants were randomized (1:1) to the IASD vs. a sham procedure (femoral venous access with intracardiac echocardiography but no IASD placement). The participants and investigators assessing the participants during follow-up were blinded to treatment assignment. The primary effectiveness endpoint was exercise PCWP at 1 month. The primary safety endpoint was major adverse cardiac, cerebrovascular, and renal events (MACCRE) at 1 month. PCWP during exercise was compared between treatment groups using a mixed effects repeated measures model analysis of covariance that included data from all available stages of exercise. Results -A total of 94 patients were enrolled, of which n=44 met inclusion/exclusion criteria and were randomized to the IASD (n=22) and control (n=22) groups. Mean age was 70±9 years and 50% were female. At 1 month, the IASD resulted in a greater reduction in PCWP compared to sham-control (P=0.028 accounting for all stages of exercise). Peak PCWP decreased by 3.5±6.4 mmHg in the treatment group vs. 0.5±5.0 mmHg in the control group (P=0.14). There were no peri-procedural or 1-month MACCRE in the IASD group and 1 event (worsening renal function) in the control group (P=1.0). Conclusions -In patients with HF and EF ≥ 40%, IASD treatment reduces PCWP during exercise. Whether this mechanistic effect will translate into sustained improvements in symptoms and outcomes requires further evaluation. Clinical Trial Registration -URL: http://clinicaltrials.gov. Unique identifier: NCT02600234

The government of health care and the politics of patient empowerment: New Labour and the NHS reform agenda in England

This article considers the issue of patient empowerment in the context of New Labour's proposed reforms to the National Health Service (NHS) in England. Through an exploration of some of the key measures in the government's white paper High Quality Care for All, the article argues for a conceptualization of patient empowerment as a political technique of governing. Patient empowerment, it is contended, can no longer be understood solely as a quantitative phenomenon to be balanced within the doctor-patient relationship. Rather, its deployment by the government as a way of governing health and health care more broadly demands that we consider what political functions-including, importantly, it is argued here, managing the problem of the increasing cost of illness and health care-patient empowerment may be involved in performing. In order to assist in this enquiry, the article draws on some of Michel Foucault's work on the art of governing. It is suggested that his understanding of the neoliberal mode of governing best captures the proposed changes to the NHS and the role patient empowerment plays in their implementation

Investigating the effects of age-related spatial structuring on the transmission of a tick-borne virus in a colonially breeding host

Higher pathogen and parasite transmission is considered a universal cost of colonial breeding due to the physical proximity of colony members. However, this has rarely been tested in natural colonies, which are structured entities, whose members interact with a subset of individuals and differ in their infection histories. We use a population of common guillemots, Uria aalge, infected by a tick-borne virus, Great Island virus, to explore how age-related spatial structuring can influence the infection costs borne by different members of a breeding colony. Previous work has shown that the per-susceptible risk of infection (force of infection) is different for prebreeding (immature) and breeding (adult) guillemots which occupy different areas of the colony. We developed a mathematical model which showed that this difference in infection risk can only be maintained if mixing between these age groups is low. To estimate mixing between age groups, we recorded the movements of 63 individually recognizable, prebreeding guillemots in four different parts of a major colony in the North Sea during the breeding season. Prebreeding guillemots infrequently entered breeding areas (in only 26% of watches), though with marked differences in frequency of entry among individuals and more entries toward the end of the breeding season. Once entered, the proportion of time spent in breeding areas by prebreeding guillemots also varied between different parts of the colony. Our data and model predictions indicate low levels of age-group mixing, limiting exposure of breeding guillemots to infection. However, they also suggest that prebreeding guillemots have the potential to play an important role in driving infection dynamics. This highlights the sensitivity of breeding colonies to changes in the behavior of their members—a subject of particular importance in the context of global environmental change