Newsletters
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Statement on Volcano Activity in St Vincent and the Grenadines by Chair of the Caribbean Community (CARICOM) Dr the Honourable Keith Rowley Prime Minister of Trinidad and Tobago
The Caribbean Community (CARICOM) has mobilised to support St Vincent and the Grenadines as it faces the possibility of an imminent eruption of La Soufriere Volcano. Following an evacuation order of the immediate area around the volcano by Prime Minister Dr the Honourable Ralph Gonsalves, CARICOM Member States have offered support to house evacuees from the affected area. The scientific…
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Guyana set to grow by 20.9% in 2021: CARICOM BUSINESS
Guyana’s economy will remain resilient against the effects of COVID-19, maintaining its growth trajectory as the petroleum sector ‘picks up steam’, the World Bank has said. Guyana grew at an extraordinary rate of 43.5% in 2020, having completed a year of oil production. The positive spill-over effects have been dampened by a deep contraction in the non-oil economy, triggered by…
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Bahamas seeking to increase cruise passenger expenditure: CARICOM BUSINESS
The Bahamas is targeting a $400m increase in annual passenger spending after data revealed more than 40% spent less than $50 in Nassau pre-COVID, thereby seeking to increase expenditure to $100 per head. According to the Ministry of Tourism in The Bahamas, data for 2019, the last full year prior to the COVID-19 pandemic, revealed that 43% of cruise passengers…
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CARICAD: Horizon Newsletter Vol 4 Issue 1
Time to Adapt From the Executive Director’s Desk “We are living in unprecedented times. We are traveling through unchartered waters. The times in which we are living are uncertain, complex, insecure and anxiety-inducing. The COVID-19 crisis has greatly intensified the uncertainty, complexity and anxiety. The crisis has now gone past a year in duration and there is as yet no…
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Fitch Affirms Jamaica at ‘B+’; Outlook Stable: CARICOM BUSINESS
Fitch Ratings Agency, has affirmed Jamaica’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B+’ with the outlook remaining stable. The Stable Outlook is supported by the expectation that the public debt level will return to a firm downward path post-pandemic, which is underpinned by political consensus to maintain a high primary surplus, the resilience of external finances, and stronger economic…
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CDB Projects Return to Economic Growth in 2021: CARICOM BUSINESS
The Caribbean Development Bank (CDB) is reporting that the economies of its 19 Borrowing Member Countries (BMCs) contracted by 12.8% on average in 2020 but is projecting an average GDP growth of 3.8% in 2021. According to the Bank in 2020, the majority of BMCs registered double-digit declines in GDP. Countries with significant tourism industries, such as The Bahamas, Barbados,…
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80% of Caribbean businesses look to brand modernisation: CARICOM BUSINESS
Over a quarter of businesses in the Caribbean have not been able to meet their digitisation goals. This was revealed by PricewaterhouseCoopers in its Caribbean Digital Readiness Survey 2021. In the survey, 42% of respondents believed they were on target to meet their goals while 28% said they were ahead. Only 15% believe that their digital fitness is on a…
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Jamaica’s remittance flows jump 25.7%: CARICOM BUSINESS
Jamaica’s net remittance flows totalled $220.9 million as at November 2020 reflecting an increase of 25.7% or US$45.2 million over November 2019. This increase resulted from a rise in gross remittance inflows of 18.7% or US$37.5 million aided by a decrease of 32% or US$7.7 million in outflows. Based on the Bank of Jamaica’s November 2020 Remittance Bulletin, the increase…
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CARICOM BUSINESS – Economic fall-out continues from COVID-19 pandemic
This week’s CARICOM BUSINESS Newsletter features some of the economic fall out as the Region continues to grapple with the COVID-19 pandemic. This edition touches on developments in Barbados, Jamaica, the Bahamas and St. Vincent and the Grenadines, as well as the European Union’s continuing blacklisting threats and Canada’s suspension of airline services. Click on the Image or Link below…
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CDB elects Gene Leon as new President: CARICOM BUSINESS Newsletter
The Board of Governors of the CDB has elected Hyginus “Gene” Leon to serve as the next President of the multilateral institution. Leon’s appointment will become effective on May 1, 2021. He will succeed W. Warren Smith. Leon has over 30 years of experience in economic development and has directed macroeconomic and financial policy support to government authorities in Africa,…
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