The Inter-American Development Bank’s (IDB) Caribbean Department has published a special edition of its Caribbean Quarterly Bulletin—also detailed on our new dedicated website—focused on the evolving economic and human consequences of the COVID-19 outbreak for the region.[1] Our team of economists from across the region has been advising IDB senior management and member-country … [Read more...] about Caribbean Economies in the Time of Coronavirus
COVID-19: Tourism-Based Shock Scenarios for Caribbean Countries
The COVID-19 outbreak could have considerable implications for Caribbean citizens and their economies. The magnitude of this impact will depend crucially on the spread of the virus, the duration of the outbreak, and measures countries in the region and elsewhere undertake to insulate themselves. It will also have much to do with country economic structures—particularly tourism … [Read more...] about COVID-19: Tourism-Based Shock Scenarios for Caribbean Countries
Hurricane Dorian from the Sky
On the eve of the arrival of Hurricane Dorian, the images captured by the NOAA-NASA satellites showed us the magnitude of the climate disaster that was going to happen (see figure 1). To date, Hurricane Dorian is considered one of the most devastating natural disasters ever to hit The Bahamas. The estimated damages and losses from it amount to US$3.4 billion (see … [Read more...] about Hurricane Dorian from the Sky
A Synchronized Slowdown of the Global Economy – Is the Caribbean in Sync?
With growth rates for the World Economy of 3.8 percent in 2017 (and similar expectations for 2018), the IMF declared in 2018 that the World Economy was in a ‘cyclical upswing’ but also warned that ‘For most countries, current favorable growth rates will not last.’ That forecast has proven to be correct, even though the speed at which the World Economy has slowed has come as a … [Read more...] about A Synchronized Slowdown of the Global Economy – Is the Caribbean in Sync?
Doing Business in the Caribbean, or Not?
In January of this year, Minister Marsha Caddle of Barbados announced the creation of a Doing Business (DB) subcommittee with the objective of improving the country’s ranking in the World Bank’s Doing Business indicator (DBI). In announcing a specific desire to climb in the Doing Business ranking, Barbados joins countries like Jamaica, China, India and Russia. In light of the … [Read more...] about Doing Business in the Caribbean, or Not?