In recent years the significant loss of correspondent banking relationships (CBRs) in the Caribbean, commonly referred to as de-risking; and its impact on both the regional financial system and, on the economies of several territories has been broadly discussed. Additionally, several authors have validly identified an array of motivating factors which have driven some of the … [Read more...] about Correspondent Banking Relationships (CBR) Withdrawals
[soundcloud url="https://soundcloud.com/bancointeramericanodesarrollo/debt-and-fiscal-responsibility" params="color=#ff5500&auto_play=false&hide_related=false&show_comments=true&show_user=true&show_reposts=false&show_teaser=true&visual=true" width="100%" height="300" iframe="true" /] Featuring Dr. Allan Wright, senior country economist … [Read more...] about Why is fiscal responsibility needed and what is the purpose of the Fiscal Seminar in Nassau?
By Allan Wright (IDB) and Francisco A. Ramírez (Central Bank of the Dominican Republic) The buildup of fiscal deficits and its subsequent escalation of national debt burdens during the last decade is one of the main characteristics of Central American and Caribbean economies. A close analysis of the fiscal position of these developing economies shows that during the … [Read more...] about Fiscal Limits for Developing Economies in Central America and the Caribbean
The fiscal and debt problem in the region has been engendered in part by weak fiscal institutions and frameworks that have perpetuated chronic fiscal procyclicality. Without binding rules geared towards budgetary discipline, can Caribbean countries successfully overcome their fiscal and debt challenges? In a recent working paper, issues surrounding the applicability, design … [Read more...] about Are Governments Wasting Your Tax Money?
To understand how effective countries are in fostering private sector growth and encouraging enterprise contribution, the World Bank produces the Doing Business Indicators, comprising ten measures ranging from the ease with which private companies can pay their taxes to register property. Which factors stand out for The Bahamas? These were cited among the indicators for … [Read more...] about Three Steps to Improving Business in The Bahamas