In our latest Caribbean DevTrends blog Economics Senior Specialist in The Bahamas Dr. Allan Wright discusses his recent co-authored IDB publication titled The EU AML/CFT List of High-Risk Third Jurisdictions: Implications and Options for The Bahamas. This Policy Brief has argued that inclusion on any future adopted European Union (EU) Anti-Money Laundering/Combating … [Read more...] about High-risk listing problematic for The Bahamas
Imagine a community without trending conversations around the new world of work, artificial intelligence, and disruptive technology? One word – Obsolete. In an effort to spark dialogue and new perspectives, Dr. Allan Wright, the Inter-American Development Bank’s (IDB) economist in Nassau, recently gave a presentation at The University of The Bahamas (UB) on the economic … [Read more...] about Will automation undermine or enhance human development?
Independent fiscal councils are among the most recent innovations in terms of the architecture of fiscal institutions. The first council was established just after World War II, and by 2016, 37 countries had implemented them across the world—most of these in the wake of the global financial crisis that began in 2008. Caribbean countries are just the latest frontier in the … [Read more...] about Fiscal Councils: Cutting edge fiscal architecture, or panacea?
The Bahamas’ Fiscal Responsibility Bill (FRB) 2018, can be compared with some standard principles that typically guide the formation of a Fiscal Responsibility Framework (FRF). Based on our examination, we conclude that the objectives of The Bahamas’ proposed FRF are clear, sound and are in accord with the typical objectives of a standard rules-based framework. We also find … [Read more...] about How The Bahamas’ Fiscal Responsibility Framework of 2018 will aid governance and accountability
Four macro-critical factors have the potential to trigger a creative disruption in the financial sector in the Caribbean region in the not-too-distant future. These macro-critical factors are (i) risks from climatic changes and natural disasters; (ii) advance in financial technology; (iii) derisking activities by correspondent banks; and (iv) changing lifestyles and … [Read more...] about What will the Caribbean’s financial sector of the future look like?