OVERVIEW In 2018 Barbados strengthened its reform impetus to start addressing its precarious balance of payments and fiscal situations. In response to the worsening fiscal and external liquidity position, the Government of Barbados (GOBD) announced in June the Barbados Economic Recovery and Transformation Plan (BERT), which aims to restore macroeconomic stability and place the economy […]
Caribbean News
Guyana 2018-2019 Economic Review
Economic growth in Guyana increased to 3.4% in 2018. This was mainly due to increased construction activity. Sugar output fell as restructuring of the industry continued, while there was mixed performance in the extractive industries. Fiscal performance was boosted by a tax amnesty, which increased revenues and helped stabilise the overall deficit. Public debt as […]
Stop Promoting Modern-Day Plantations Called Exclusive Resorts – Rifai – Updated
Secretary General of the United Nations World Tourism Organization (UNWTO), Dr. Taleb Rifai, says there must be more interconnectedness between visitors and residents of communities, in order to achieve greater community empowerment. He also suggested that there must be a lowering of the walls between the host communities and the visitors, in order to achieve […]
Pricesmart (Trinidad and Tobago) Limits Imports Due to Foreign exchange Woes
TRINIDAD AND TOBAGO The Trinidad and Tobago branch of international chain Pricesmart is reporting limited imports due to “a shortage of foreign currency”. In a notice to members, PriceSmart said that the company was unable to offer its full selection of imported products. “However, we are committed to stocking the range of imported […]
Caribbean Development Bank Expects Barbados Economy To Stutter This Year
BARBADOS The Caribbean Development Bank (CDB) expects Barbados as well as six other of its borrowing member countries (BMC) to record economic growth of less than two per cent this year. According to the CDB, all BMCs are expected to record positive growth this year, lending to an expected overall average projected growth of […]
