February 23, 2019

IMF calls on Caribbean to take climate change action

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By James Young From BNamericas The IMF issued a call for Caribbean nations to bolster insurance protection and resilience infrastructure in the face of therising risk of natural disasters with climate change. “As global warming continues to increase sea-water temperatures, the Caribbean isbecoming more vulnerable to increasingly frequent and damaging natural disasters,” said IMF in a statement. “Policies that build resilience […]

The View from Europe: A new approach to tourism analysis is long overdue

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By David Jessop From Dominican Today Since the mid-2000s the ability of the Caribbean tourism sector to  generate rapid economic growth has been widely accepted by international financial institutions such as the IMF, World Bank and the Inter-American Development Bank. This seems to have occurred at the point at which it became apparent that services […]

St Kitts-Nevis government blocks publication of IMF report

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From Caribbean News Now WASHINGTON, USA — According to a statement published by the International Monetary Fund (IMF), the authorities in St Kitts and Nevis have blocked the publication of the latest IMF staff report and the related press release. However, in an update issued on Friday by St Kitts and Nevis financial secretary, Hilary […]

Trade war escalation will hit China harder than the US, IMF says

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By John Carter From South China Morning Post A further escalation of the trade war between the US and China would take a major toll on economic growth in both countries next year, with China the bigger casualty, according to an economic analysis released by the International Monetary Fund on Tuesday. The world economy would […]

Argentina receives the largest loan package ever from the IMF At $57.1 billion

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From WN Argentina received the biggest loan package ever from the International Monetary Fund on Wednesday to help restore the country’s financial systems with $57.1 billion which will be distributed over the next three years, according to The Guardian. Argentina has already received $15 billion of the loan, which comes with heavy restrictions, including the […]

Bahamas PM uses Haiti unrest to explain VAT hike

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By Travis Cartwright-Carroll Nassau Guardian From Caribbean News Now NASSAU, Bahamas — As he defended his administration’s increase in value-added tax (VAT) from 7.5 percent to 12 percent, Bahamas Prime Minister Dr Hubert Minnis pointed to recent riots in Haiti over a 50 percent increase in fuel prices mandated by the International Monetary Fund (IMF) […]

Sir Ronald Sanders: Caricom skin in the Haiti game

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By Sir Ronald Sanders From jamaica Observer Haiti’s current fiscal problems that led to four days of riots, setting back the country’s already fragile economic and political stability, have implications for Caribbean Community and Common Market (Caricom) countries that cannot be ignored. If economic and social conditions continue to deteriorate the flight of Haitians seeking […]

IMF staff concludes visit to Jamaica

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From Caribbean News Now KINGSTON, Jamaica — An International Monetary Fund (IMF) staff team led by Uma Ramakrishnan visited Kingston from June 11 to 15, 2018, to take stock of progress on Jamaica’s economic reform program supported by the IMF’s precautionary stand-by arrangement (SBA). At the end of the visit, Ramakrishnan issued the following statement: […]

Sir Ronald Sanders: For a change – Welcome World Bank advice

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By Sir Ronald Sanders Attending a World Bank meeting on April 16, I was shocked to hear a senior official of the organization say that, in addressing fiscal deficits, Latin American and Caribbean (LAC) countries should not make “shock adjustments”. This advice is contrary to the traditional prescriptions handed out by the twin international financial […]

UN financing forum sees focus on debt relief for vulnerable Caribbean nations

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By Amy Lieberman From devex UNITED NATIONS — Concern over debt vulnerability and risks for small island developing states in the Caribbean, likely set to face another strong hurricane season this year, guided an emerging consensus for action at the United Nations Forum on Financing for Development last week, according to the head of a […]