24 research outputs found

    Economic Survey of the Caribbean 2021

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    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

    Economic Survey of the Caribbean 2022

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    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

    Preliminary overview of the economies of the Caribbean 2021–2022

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    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

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    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

    Preliminary overview of the economies of the Caribbean 2012-2013

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    Includes bibliographyIn the face of weak global growth in major export markets the Caribbean economies have underperformed. The situation is much more severe among service producers1 which have suffered the decline in tourist arrivals and offshore banking services. The goods producers have benefited from the commodity boom and have tended to show more robust growth. The expectations for 2013 are that growth will be positive in the region with the service producers growing at 1.5per cent and the goods producers at 3.6per cent. This performance will depend heavily on improved performances in the major export markets. The fiscal policy stance in most countries in the region in 2012 tended to be expansionary with the average deficit increasing from 3.1 per cent of GDP to 3.4 per cent. The economic structure was an indicator of fiscal health as the service producers had greater deficits. The central challenge on the fiscal side in the region is the large debt problem. Between 2011 and 2012 the average debt burden increased marginally from 64.2per cent of GDP to 65.5per cent of GDP and in a few cases the debt burden was in excess of 100 per cent of GDP. This situation calls for a consistent attempt at fiscal consolidation over the medium term. With respect to monetary policy, the stance was mostly neutral given sluggish demand and stable prices. In a few cases, lending rates trended down slightly but deposit rates also declined and money supply remained practically constant. At the same time, domestic credit to both the private and public sector remained unchanged and the private sector remained risk averse. Inflation trends in 2012 were mixed but overall inflation remained relatively low. The current account balance which is a source of growing concern, increased due to rising imports and sluggish exports. Elevated commodity prices helped to keep the cost of imports high .In terms of the financial and capital accounts, there was an increase in FDI inflows to the subregion but much of this was outside of the tourism sector

    Industrial upgrading and diversification to address competitiveness challenges in the Caribbean: The case of tourism

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    This study analyses the efforts that The Bahamas, Belize and Saint Kitts and Nevis are making to upgrade and diversify their tourism sectors to increase its contribution to inclusive growth. Generally, the study finds that the countries have been making efforts to upgrade and diversify the sector, but this has been affected by resource and institutional constraints. The study proposes key recommendations for strengthening upgrading and diversification.Abstract .-- Introduction .-- I. Literature review .-- II. Methodology .-- III. The performance of the tourism sector in the wider Caribbean and the selected countries .-- V. Social upgrading in tourism in the selected countries .-- VI. Environmental upgrading .-- VII. Diversification in the tourism sector in the selected countries .-- VIII. Results of the survey of tourism operators and policymakers .-- IX. Recommendations for enhancing upgrading and diversification in tourism in the selected countries

    Regional integration in the Caribbean: The role of trade agreements and structural transformation

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    Despite having relatively open economies and a dedicated strategic focus on export expansion, Caribbean economies still account for a small proportion of global trade (goods and services). This paper therefore posits that the subregion adopt a new dais of regional integration, which favours deeper trade and economic integration with countries which are the region’s natural trading partners

    Economic impact of de-risking on the Caribbean: Case studies of Antigua and Barbuda, Belize and Saint Kitts and Nevis

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    This study examines the impact of de-risking on the study countries—bank and non-bank sectors. The study approach is based on survey instruments, consultations and analysis of secondary data. The impacts that have been observed, to date, have generally been discounted in most analysis as “anecdotal” and not valid for “reliable inference”1. However, in small economies such as those in this study what is anecdotal may be indeed reasonable for inference. The typically small number of banks as well as their dominance in the financial sectors of these small states suggests that reduced banking services will have knock on effects on other activities and sectors. In this regard, unlike most studies that cast a broad geographical net in attempting to assess the impact of the withdrawal of CBS, this study focuses on three countries which facilitates the “drilling down” and “zooming in” on the experience with de-risking.Abstract. -- Background. -- De-risking: the Caribbean experience and impacts. -- De-risking experience and impacts: case study of Belize. -- De-risking experience and impacts: case study of Saint Kitts and Nevis. -- De-risking experience and impacts: case study of Antigua and Barbuda. -- VI. Conclusion and recommendations. -- Bibliography

    Promoting debt sustainability to facilitate financing sustainable development in selected Caribbean countries: A scenario analysis of the ECLAC debt for climate adaptation swap initiative

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    In light of the high debt burden impacting Caribbean economies ECLAC has been pursuing an initiative designed to reduce the debt burden and advance sustainable development. The strategy has evolved over time and there is now agreement on an approach designed to bring financial resources to the Caribbean for resilience building while still emphasizing the importance of debt reduction. To address resilience and development financing, ECLAC proposes the establishment of a Caribbean Resilience Facility to be housed at a reputable financial institution. Such a facility would be capitalised by donors, including the GCF, wishing to assist in financing climate projects and other forms of resilience-building activities within the Caribbean.Abstract .-- Introduction .-- I. Study objectives and procedure .-- II. Results for debt reduction scenario analysis .-- III. Conclusion

    Preliminary overview of the economies of the Caribbean 2017–2018

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    The report provides an overview of the economic performance for 2017 of the Bahamas, Barbados, Belize, Guyana, Jamaica, Suriname, Trinidad and Tobago plus the eight Member States of the Eastern Caribbean Currency Union (ECCU), and the outlook for 2018. Data were collected from a review of reports from subregional institutions as well as national governments and interviews with government officials in each of the countries examined.Abstract .-- Introduction .-- I. Macroeconomic policy .-- II. The external sector .-- III. Conclusion .-- IV. Country notes. Bahamas. Barbados. Belize. Eastern Caribbean Currency Union. Guyana. Jamaica. Suriname. Trinidad and Tobago
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