Suriname is facing a challenging economic outlook. The country’s economy has not recovered from the 2015 recession which was characterized by a large contraction in economic growth, large fiscal and external imbalances, and a rapid increase in central government debt. The effects of the ongoing COVID-19 pandemic are worsening the macroeconomic situation and affecting … [Read more...] about Strengthening Economic Institutions to Support Suriname’s Public Finances
Economic Growth
Six Recommendations to Ensure Guyana’s Oil Wealth is More Financially Inclusive
Guyana’s economy is on the verge of a historic transformation following recent oil discoveries. Financial sector development and inclusion will be crucial to maximize the benefits of faster growth and increased revenues. However, financial access and inclusion in the country are lagging, which hinders firms’ productivity and performance. A new publication from IDB economists … [Read more...] about Six Recommendations to Ensure Guyana’s Oil Wealth is More Financially Inclusive
Four key reforms to bring back economic growth to Barbados
It has often been said that times of crisis can often lead to opportunity for change. Barbados is no stranger to this concept, having faced macroeconomic challenges during the past decade, including low growth, high government spending compared to revenue collection, elevated debt levels and declining international reserves (see Figures 1 to 4). This has led to an ambitious set … [Read more...] about Four key reforms to bring back economic growth to Barbados
Colonization and Institutions in the Caribbean
Institutions and the historical conditions that influenced their formation are now widely considered important to understanding differences in economic development across countries. There are alternative views on the channels through which the colonial experience influenced present-day development outcomes. Some economists have argued in favor of a “colonizer effect,” whereby … [Read more...] about Colonization and Institutions in the Caribbean