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
Covid-19: 11 Key Lessons in Crisis Communications
The declaration of COVID- 19 by the World Health Organisation as a global pandemic has plunged the world in unchartered waters. It has afflicted over 8 million people in 213 countries, left over 425,000 dead, millions unemployed, overwhelmed hospitals, broken supply chains and deflated critical sectors such as tourism, energy and agriculture. Crisis communications done … [Read more...] about Covid-19: 11 Key Lessons in Crisis Communications
COVID-19, The Caribbean Crisis
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
What effects will COVID-19 have on employment in Latin America and the Caribbean?
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 … [Read more...] about What effects will COVID-19 have on employment in Latin America and the Caribbean?
Caribbean Economies in the Time of Coronavirus
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