By Kamau Joseph (@kamauj_868) In a time riddled with uncertainty, how governments manage public finances can significantly impact the country’s debt burden, the fiscal space within which they operate and the lives of their constituents, especially those who belong to the working class. A World Bank report published in 2015 stated, “In most Caribbean countries, the public … [Read more...] about Things that the Nation Needs: Effective Public Financial Management
Trinidad and Tobago
Why we need Economic Diversification in Trinidad and Tobago
Economic diversification in Trinidad and Tobago is imperative, although diversification away from the energy sector has largely failed. A country with a perfectly diversified export portfolio will have an index close to 0 (most diversified), whereas a country that exports only one product or to one country will have a value of 1 (least diversified). In Trinidad and Tobago, … [Read more...] about Why we need Economic Diversification in Trinidad and Tobago
The People’s Money: Getting Procurement Right
Procurement Right from Caribbean Country Department IDB on Vimeo. Public Procurement refers to the spending of taxpayers' money by the government to acquire various goods and services for delivery to the public. Better road networks, hospital facilities and schools are just a few of the public goods that procurement delivers. Considering the limited resources available … [Read more...] about The People’s Money: Getting Procurement Right
The Big, Little Neighbours: A Step forward to deepening the relations between the Caribbean and the United States
Caribbean countries have one of the world’s highest dependency rates on fossil fuels for energy. The IDB is helping the development and funding of programmes to improve domestic energy efficiency and support diversification towards renewables (Liquefied Natural Gas, wind, solar, geothermal, and wave power). By introducing newer and more efficient sources of energy, a more … [Read more...] about The Big, Little Neighbours: A Step forward to deepening the relations between the Caribbean and the United States
The Dark Side of Debt
The Caribbean is often described using the moniker “high debt, low growth,” yet this has not truly been the case until recently. The Caribbean Economic Team’s Quarterly Regional Bulletin contends that debt is or is forecasted to become too high in the Caribbean—perhaps crossing into the “dark side.” The Caribbean debt benchmark, used to judge whether debt is too high, is … [Read more...] about The Dark Side of Debt