COVID-19 is taking an unprecedented (albeit still unknown) toll on Caribbean region’s economic growth. According to the recently published Caribbean Quarterly Bulletin, the decline in the tourism industry will particularly affect The Bahamas, Barbados and Jamaica. Plummeting international commodity prices are having severe consequences in Guyana, Suriname and Trinidad and … [Read more...] about COVID-19, The Caribbean Crisis
Economy & Investment
In a prolonged recession from the coronavirus, The Bahamas could see job losses of -26.9% and Jamaica -24.8%. While in Guyana, Suriname and Trinidad and Tobago, their jobs could shrink by -16.7%, -14.5% and -10.5% respectively. COVID-19’s impact on the world's labor markets is unprecedented. In the United States, 16.8 million people applied for unemployment benefits over … [Read more...] about What effects will COVID-19 have on employment in Latin America and the Caribbean?
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. 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
International Workers' Day comes this year in exceptionally difficult circumstances. This day, usually of vindication and reflection, is wrapped this 2020 in a context that nobody would have been able to anticipate just a few months ago. The global crisis caused by the COVID-19 pandemic has drenched the daily lives of millions of people worldwide. And the region, of course, is … [Read more...] about How to Overcome the Hit and Go Beyond: Work After COVID-19
Transport operators in Jamaica are feeling the pinch from social distancing measures to restrict the spread of the COVID-19. Many continue to operate by choice or to fulfill obligations to get essential workers to and from their jobs. For drivers, the reduction in demand will certainly translate into depressed incomes, from reduced hours for those employed in the formal sector … [Read more...] about How the Coronavirus could be changing public transportation in Jamaica