October 26, 2021

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 […]

Caribbean countries could benefit from new IMF initiative

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From Jamaica Observer WASHINGTON, United States (CMC) — The International Monetary Fund (IMF) says it is adapting its framework for providing support to Caribbean and other low income countries (LICs) amid rising vulnerabilities. The Washington-based financial institution in a statement Tuesday said despite a global economic upswing, many LICs continue to face difficult fiscal and […]

Crime, high unemployment hampering economic growth in Caribbean

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By CMC From St Lucia News Online (CMC) – Economic growth in the Caribbean is being hampered by high unemployment among young people regarded as the highest in the world and crime, according to a IMFBlog, a forum for the views of the International Monetary Fund (IMF) staff and officials on pressing economic and policy […]

Canada’s financial dominance in the Former English Caribbean Colonies (FECC)

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By Tamanisha Jennifer John, Extramural Contributor at the Council on Hemispheric Affairs To download a PDF of this article, go to web link below Introduction Today, Canadian Banks dominate the financial industry of the Former English Caribbean Colonies (FECC), enhancing and often enriching the external interests of capital for their banks in Canada. This is […]