IDB member countries in the Caribbean are feeling the economic impact of the coronavirus pandemic. The lifeblood of tourism has stopped flowing to The Bahamas, Barbados and Jamaica. Falling commodity prices are impacting Guyana, Suriname and Trinidad and Tobago. All are grappling to control a public health crisis that is straining human and financial resources. IDB experts … [Read more...] about Coronavirus and the Caribbean: economic implications and options
Economy & Investment
Helping the Caribbean in a pandemic
Cruise ships are docked. Flights are grounded and tourists are staying home. As the coronavirus grinds the world economy to a halt, the small, open economies of the Caribbean are taking a hard hit. The Bahamas, Barbados and Jamaica are dependent on tourism. Oil and natural gas prices are plunging, hurting Guyana, Suriname, and Trinidad & Tobago. A recent exploration … [Read more...] about Helping the Caribbean in a pandemic
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
Caribbean potential takes center stage as Caribbean Governors meet
“We have to guard against anything at all that will hamper the chances of ordinary citizens from being the best that they can be.” These words from Barbados Prime Minister Mia Mottley sum up the tone at the opening of the IDB’s IX Annual Consultation of Caribbean Governors in Barbados. Prime Minister Mottley opened the meeting along with IDB President Luis Alberto Moreno who … [Read more...] about Caribbean potential takes center stage as Caribbean Governors meet