Newsletters

  • Photo of Jamaica raises policy interest rate to moderate inflation: CARICOM BUSINESS

    Jamaica raises policy interest rate to moderate inflation: CARICOM BUSINESS

    The Bank of Jamaica (BOJ) has raised its policy interest rate by 100 basis points to 1.50% as inflation breached the upper limit of the bank’s target range in August. However the action will “moderate” the economy’s growth potential. The policy interest rate has stood at a historic low of 0.5% since August 2019. Currently inflation is tracking at 6.1%.…

    Read More »
  • Photo of Amidst rating downgrade, Bahamas set to grow by 8% in 2021: CARICOM BUSINESS

    Amidst rating downgrade, Bahamas set to grow by 8% in 2021: CARICOM BUSINESS

    The US-based rating agency Moody’s downgraded the sovereign creditworthiness of The Bahamas slashed the country’s long-term issuer and senior unsecured ratings to ‘Ba3’ from ‘Ba2, a day after the general election. Moody’s, in maintaining a “negative outlook” on The Bahamas, justified the downgrade by saying “the downgrade to Ba3 reflects the significant erosion of The Bahamas’ economic and fiscal strength”…

    Read More »
  • Photo of Jamaica’s exports record growth of 24.6%: CARICOM BUSINESS

    Jamaica’s exports record growth of 24.6%: CARICOM BUSINESS

    Jamaica’s total spending on Imports for January – May 2021 amounted to US$2,249.3 million, an increase of 12.0% relative to the same period in 2020. This increase was mainly attributable to higher imports of Fuels and Lubricants (42.7%) and Raw Materials / Intermediate Goods (13.8%). Total exports for the review period were valued at US$655.1 million, 24.6% above the US$525.7…

    Read More »
  • Photo of Caribbean expected to grow 4.1% in 2021, ECLAC says: CARICOM BUSINESS

    Caribbean expected to grow 4.1% in 2021, ECLAC says: CARICOM BUSINESS

    A new “Economic Survey of Latin America and the Caribbean” report released by ECLAC raised its growth forecast for the Region from 5.2% in July to 5.9%. Despite the encouraging improvement, these figures remain below par to bounce back from 2019’s Gross Domestic Product (GDP) with the Caribbean posited to grow by 4.1%. The growth in 2021, according to the…

    Read More »
  • Photo of Barbados: Arrivals rising in tourism sector –  CARICOM BUSINESS

    Barbados: Arrivals rising in tourism sector – CARICOM BUSINESS

    Tourism interests in Barbados are now viewing the upcoming 2021/22 winter tourism season optimistically based on the latest statistics from the Barbados Tourism Marketing Inc. (BTMI). During July 2021, some 10,819 visitors travelled to Barbados, a significant increase of 6,745 visitors compared to the corresponding period of July 2020. The United States (US) copped 43.3 % market share, while the…

    Read More »
  • Photo of CCRIF to pay out US$40 million to Haiti after earthquake: CARICOM BUSINESS

    CCRIF to pay out US$40 million to Haiti after earthquake: CARICOM BUSINESS

    Catastrophe Risk Financing Facility (CCRIF) SPC will make a payout of approximately US$40 million to the government of Haiti following the devastating magnitude 7.2 earthquake that struck Haiti on August 14th, 2021, significantly impacting the city of Les Cayes. This payout represents the full coverage limit under the country’s parametric insurance policy for earthquakes for the 2021/22 policy year. As…

    Read More »
  • Photo of Guyana rolls back freight charges to pre-pandemic levels:  CARICOM BUSINESS

    Guyana rolls back freight charges to pre-pandemic levels: CARICOM BUSINESS

    Effective August 1, 2021, Guyana by statute reduced freight charges to pre-pandemic levels (March 31, 2020) in the calculation of customs duties, excise taxes, and input VAT on goods imported. This facility however expires on January 31, 2022. This was occasioned by marked increase in shipping costs from some countries, moving from an average of US$2,500 to as much as…

    Read More »
  • Photo of Barbados records growth of 5.5%: CARICOM BUSINESS

    Barbados records growth of 5.5%: CARICOM BUSINESS

    Barbados has recorded growth of 5.5% during the April to June quarter of 2021. That’s the word from Governor of the Central Bank of Barbados Cleviston Haynes who is predicting growth of 1 to 3% for calendar 2021. Haynes said the performance of the economy continued to be constrained by the protracted COVID-19 pandemic, which resulted in a dramatic falloff…

    Read More »
  • Photo of Cayman implements 5-phase tourism re-start strategy: CARICOM BUSINESS

    Cayman implements 5-phase tourism re-start strategy: CARICOM BUSINESS

    The Cayman Islands has announced a five-phase approach to reopening its tourism sector. During the first phase or ‘reduced quarantine period’, which began in June, fully vaccinated travellers are subject to a mandatory 5-day quarantine while the unvaccinated undergo 14-days isolation. In the second phase, or “reduced reparations restrictions”, effective August 9, additional travel restrictions will be eased, including the…

    Read More »
  • Photo of Jamaica: Remittances exceed US$1 billion in 4 months – CARICOM BUSINESS

    Jamaica: Remittances exceed US$1 billion in 4 months – CARICOM BUSINESS

    For the first 4 months of 2021, remittance inflows into Jamaica exceeded the US$1-billion mark. Net remittance inflows of US$1012.7 million increased by 52.6% or US$349.1 million relative to the previous corresponding period. This improvement resulted from an increase of 46.2% or S$345.7 million in total remittance inflows aided by a decline of 4.1% or US$3.5 million in total remittance…

    Read More »
Back to top button
Close