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Thread: Tracking Caribbean Economies

  1. #31
    Registered User TriniReporter's Avatar TriniReporter is offline
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    IMF says Caribbean countries still struggling to overcome global economic meltdown

    WASHINGTON, United States (CMC) — A senior official of the International Monetary Fund (IMF) says with the global economy still struggling, many countries in Latin America and the Caribbean are facing a harsher world than they did a few years ago.

    “Therefore, the growth outlook is weaker in advanced and emerging economies alike,” said Alejandro Werner, the director of the IMF’s Western Hemisphere Department.

    He told a news conference over the weekend that the favourable external financial conditions of the past several years have become more volatile, and risks of a sudden tightening are on the rise.

    “Against this backdrop, economic activity in Latin America and the Caribbean has been revised downward compared with our January update, and is likely to contract for a second year in a row in 2016.

    “Basically, we are projecting an average rate of growth of minus 0.5 per cent for this year. But the growth outlook varies substantially within the region. We have in South America where, let’s say, the deeper slowdown and the recession countries are concentrated — in Central America and the Caribbean and Mexico where we have most of the countries benefiting from the declining price of oil and therefore, economic activity in this subregion of Latin America and the Caribbean is accelerating a bit.
    “As I said, therefore, the news isn’t all that bad because we have these subregions that are exhibiting some acceleration, and an important reduction in the current account deficits, and a strengthening of their fiscal balances.”

    But when asked to state the IMF’s recommendations for small, open-commodity producers that have suffered in terms of trade shocks, Werner replied,“Obviously it’s a case-by-case issue and we do not like to generalise our policy recommendations.”

    However, he said in the case of Trinidad and Tobago or other countries in the Caribbean, including Suriname, “I think these are countries that started with currency regimes that are more rigid than the ones we saw in South America.

    “There are also countries that, in many cases, are expected to have an important increase in income in the next few years from positive supply shocks, and I think there the recommendation is to achieve some gradual ‘flexibilisation’ of the exchange rate to accommodate the external shock; and I think the most important anchor in these cases would be to really set the foundations for the fiscal policy to be in line with a new reality.

    “I mean, in some of these countries the decline in terms of trading applies a significant reduction in public sector income. Therefore, in these cases, and in the case of Trinidad and Tobago these are countries where the debt levels are not very, very large, so they do have time to do these adjustments, so they can do them gradually, minimising any impact, protecting social expenditures.

    “So in a sense, I think they have to lay down a very good strategy of adjusting their public finances through time to reflect this new reality and I think that’s the basis of the conversation we have had with the authorities,” Werner said.

    He told reporters that a team had visited Trinidad a few weeks before, and “obviously we will be putting out our report after it has been approved by the board”.

    Prime Minister Dr Keith Rowley has warned citizens to curb spending as a result of declining revenue due to the fall in oil prices on the global market.

    He has told Trinidad and Tobago that his administration is implementing policies that would, in the long run, prevent the oil-rich twin island republic having to go to the Washington-based financial institution for assistance and its accompanying harsh economic policies.
    Read More: IMF says Caribbean countries still struggling to overcome global economic meltdown - Business - JamaicaObserver.com

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  2. #32
    Registered User 123KINGpapi's Avatar 123KINGpapi is offline
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    Why is Jamaica growing so little?

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    T&T's Central Bank forecasts revival of economic growth next year


    The Central Bank's Monetary Policy Report is forecasting a gradual revival in economic growth for this country in 2017.

    The report says according to early available information on the domestic energy production and the revised budget in April of this year, the 2016 economic outlook remains the same which is a contraction in the order of 2.5 percent for the whole of 2016.

    But as energy prices pick up and production increases, the Central Bank is projecting slight growth next year.

    However, it says it may take some time before the losses of 2015 and 2016 to be reclaimed.

    Globally the report says according to the International Monetary Fund's April 2016 economic outlook, following estimated growth of 3.1 percent in 2015, the global economy is projected to expand by 3.2 percent this year and 3.5 percent in 2017.

    According to the report, this slight upturn can happen if there is an improvement in energy exporters as prices slowly recover, a successful rebalancing of China's economy and growth in non-energy exporting emerging markets and developing economies.
    Read More: Central Bank forecasts revival of economic growth next year | CNC3

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    Villa rentals booming in Barbados

    BRIDGETOWN, Barbados, Friday May 27, 2016 – With Royal Westmoreland recently achieving the highest sales in its history, and Sandy Lane Hotel constructing “super” villas valued at over US$25 million each, the villa and apartment product in Barbados “continues to offer a compelling alternative to the traditional hotel product, particularly in the luxury segment of the market,” according to Hayden Hutton, chief operating officer of Terra Caribbean, one of Barbados’ leading real estate firms.

    Read more: Villa rentals booming in Barbados | Caribbean360

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    Trinidad and Tobago earned approximately $6.7 million US dollars during the 2015-2016 cruise ship season.

    Tourism Minister Shamfa Cudjoe says our twin-island state is growing in popularity, particularly in the cruise ship industry.

    And she forecasts even greater arrivals and earnings for 2017.

  6. #36
    Registered User Barbaria is offline
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    The only thing I can do is to wish good luck to these countries. Unfortunately, ordinary people suffer from such crises but they can always use instant pautang. I am sure it able to help in bad financial situations.

  7. #37
    Registered User Barbaria is offline
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    Economies are nothing without knowing population. This aspect is very important. That's why I recommend you this site populationstat.com/united-states/new-york-city where you can choose any country and even city to find their population and other demographic information.

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    Trinidad & Tobago Economy Grew In First Quarter 2019

    https://socamusictv.blogspot.com/201...-in-first.html

    Trinidad and To####ba####go Central Bank has confirmed an en####er####gy-led re####cov####ery in do####mes####tic eco####nom####ic ac####tiv####i####ty in T&T's first half of fis####cal year 2018/19. The bank's June monetary policy announcement not####ed that gov####ern####ment’s deficit for the first half of the 2018/2019 fis####cal year was much low####er when com####pared to the cor####re####spond####ing pe####ri####od last fis####cal year.

    More https://socamusictv.blogspot.com/201...-in-first.html

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