Search Result for: recession

94 results found.

Op-Ed: Only Small Business Can Save the Bahamian Economy

By Mark A Turnquest Op-Ed Contributor National policymakers in the Bahamas have focused on top-down economic strategies to improve the tourism, financial services and construction industries for almost 40 years. However, after all is said and done, the Bahamas, as […]

Barbados’ Bonds Downgraded to “Junk” Status by Moody’s

Above: Bridgetown (CJ Photo) By the Caribbean Journal staff Barbados’ credit has been downgraded to “junk” status by Moody’s Investors Service. The downgrade lowered the country’s foreign and local currency bond ratings to Ba1 from Baa3. A junk bond, or one […]

USVI Sees Big Increase in Air Arrivals

Above: St Croix By the Caribbean Journal staff The United States Virgin Islands is reporting its highest levels of air arrivals since the mid-1990s, according to a report from Texas-based consultants Reynolds, Smith and Hills. The report, which was retained […]

Moody’s Downgrades Bahamas Credit Rating; Outlook Remains Negative

Above: Nassau (CJ Photo) By the Caribbean Journal staff Moody’s Investors Service has downgraded the rating of the Bahamas’ government to “Baa1” from A3, the New York-based ratings firm announced Friday. The government’s outlook remains negative. Moody’s cited three major […]

US Virgin Islands Governor Joins Letter Urging Deal on Fiscal Cliff

Above: US Virgin Islands Governor John de Jongh By the Caribbean Journal staff United States Virgin Islands Governor John de Jongh has signed on to a letter urging US leaders to prevent the looming “fiscal cliff.” The letter was addressed […]

Op-Ed: Trade Unions in Modern Jamaica

Above: Kingston By Kent Gammon Op-Ed Contributor The trade union movement’s early days in Jamaica The trade unions of Jamaica came into prominence in the workers’ riots of 1938. At that time the workers were protesting the level of […]

WestJet Begins Twice-Weekly Service from Toronto to Antigua

Above: St John’s (CJ Photo) By the Caribbean Journal staff Calgary-based WestJet has launched its twice-weekly service from Canada to Antigua and Barbuda. The carrier’s first such flight arrived on Sunday, adding 7,000 seats to air travel between Canada and […]

Talking Caribbean Real Estate With Coldwell Banker’s Jim Reed

Above: the “Happy Ours” home on Harbour Island in the Bahamas (Listing: Coldwell Banker) While the Caribbean real estate market was impacted by the recession, it is beginning to show signs of growth. And at the centre of the regional […]

St Kitts and Nevis Cabinet Approves Three New Construction Projects

Above: Basseterre, St Kitts (CJ Photo) By the Caribbean Journal staff The cabinet of St Kitts and Nevis has approved three construction projects that could bring a boost of approximately $42.6 million to the country’s local economy. One of the […]

Op-Ed: Jamaica’s Construction Industry

By Paul Hay Op-Ed Contributor In 2008, Dean Burrowes recorded his analysis of the global recession in “The Jamaican Construction and Real Estate Industry and the Impact of the Global Economic Crisis.” He noted that the bankruptcy of major US […]

Dominican Republic’s Fernandez, in Brussels, Urges EU to Stimulate Growth

Above: Dominican Republic President Leonel Fernandez and European Council President Herman Van Rompuy (Photo: OP) By the Caribbean Journal staff Dominican Republic President Leonel Fernandez called on European lawmakers to prioritize jobs and stimulate economic growth during a visit to […]

Op-Ed: Is It Time for Chaguaramas 2.0? Jamaica’s Youth Can Lead the Way

By Fabio Pittaluga Op-Ed Contributor Today, as CARICOM Heads of Government meet to deliberate in Castries, St Lucia, trying to extricate their nations from the crosshairs of the deepest recession since the Community’s 1973 formation by the Treaty of Chaguaramas, […]

US Virgin Islands Governor Pledges “Leanest Possible Budget”

Above: Governor John de Jongh at a community meeting last week in St Croix (Photo: OG) By the Caribbean Journal staff Governor John de Jongh has submitted the US Virgin Islands’ budget for fiscal year 2013, promising that his administration […]

IMF: Risks to Jamaica’s Economic Outlook “Tilted to the Downside”

Above: Montego Bay By the Caribbean Journal staff The outlook for Jamaica’s economy is one of low growth, along with weaker debt and fiscal positions, in the absence of strong fiscal and structural reforms, according to a report from the […]

Op-Ed: Austerity and Growth in Jamaica

By Ramesh Sujanani Op-Ed Contributor Professor Michael Witter, writing in the Jamaica Gleaner, recently outlined a conflict of interest in the management of recession by governments’ policies in the United States and Europe. It seems that there are two approaches […]

Op-Ed: Jamaica, Greece and Putting the People Before the Creditors

By Jake Johnston Op-Ed Contributor Jamaica is barely emerging from its worst economic downturn in the last 30 years. Even after positive growth returned in 2011, the economy remains 3 percent below its 2007 level, and with anaemic growth projected […]

Op-Ed: How to Fix the Bahamas’ Economy

By Mark Turnquest Op-Ed Contributor After analyzing The Bahamas’ economic conditions for the past three years and reviewing international watchdog agencies’ (Moody’s, IFC/World Bank, Standard & Poor’s) reports, it is imperative that the public and private sectors focus on small […]

St Lucia’s Anthony Targets Poverty

By the Caribbean Journal staff Social empowerment, and not social welfare, is the approach which St Lucia’s government will take to tackle the issue of poverty in the country, according to Prime Minister Dr Kenny Anthony. According to Anthony, persons […]

Haiti’s Economy to Grow 7.8 Percent, Lead Caribbean in 2012: IMF Report

Above: Jacmel (Photo: Capponi Group) By the Caribbean Journal staff Haiti’s Gross Domestic Product is projected to grow by 7.8 percent in 2012, according to the recently-released World Economic Outlook from the International Monetary Fund. Haiti’s projected growth comes after […]

What China and Europe Mean for the Caribbean, from Haiti to Barbados

By Alexander Britell CHINA AND EUROPE remain the biggest threats to the Caribbean’s economy — that is, Chinese deceleration and European debt. But how vulnerable is the Caribbean to those potential external shocks? A recent study from the Inter-American Development […]

Latin America and Caribbean “Resilient” to European Debt, Chinese Deceleration

Above: Nassau (CJ Photo) By the Caribbean Journal staff The economies of Latin America and the Caribbean remain “resilient” to a possible slowdown in world economic growth stemming from a potential deepening of the European debt crisis deceleration in China, […]

Op-Ed: Why the Economy Is the Biggest Issue in Belize’s Elections

By Kay Menzies Op-Ed Contributor The voters of Belize will go to the polls next week to decide which party will form the next Government of Belize. Without a doubt, most voters will make their decisions based on, among other […]

Bermuda GDP Falls Again in 2011, But Tourism Industry a Bright Spot

Above: Bermuda (Photo: BT) By the Caribbean Journal staff Bermuda’s economy contracted by an estimated rate of between 1.5 and 2.5 percent in 2011, following a 1.9 percent decline in 2010, according to the National Economic Report of Bermuda 2011 […]

Puerto Rico Shows Positive Growth, Unemployment Falls to Three-Year Low

Above: Gov. Luis Fortuño By the Caribbean Journal staff Puerto Rico’s Economic Activity Index grew 0.5 percent in December 2011, the first year-over-year growth since the recession began in 2006, according to the Government Development Bank for Puerto Rico. The […]

Interview with Jamaican Tourism Minister Dr Wykeham McNeill

By Alexander Britell Dr Wykeham McNeill was part of a sizable victory by the opposition People’s National Party in Jamaica’s national elections Dec. 29, winning his Western Westmoreland constituency and being appointed the country’s new Minister of Tourism and Entertainment […]

Regional Outlook: Preparing for the Worst, Hoping for the Best

By Hasan Tuluy Op-Ed Contributor Latin America and the Caribbean began 2011 on an economic high. After swiftly bouncing back from the 2008/2009 global crisis, the region grew at a record level in 2010 with some countries reaching East Asian […]

Interview with Turks and Caicos Islands Governor Damian Roderic Todd

By Alexander Britell In September, Damian Roderic “Ric” Todd was sworn in as the Governor of the Turks and Caicos Islands, succeeding Gordon Wetherell, who had served as governor since 2008. TCI, which saw its self-government suspended by the British […]

Interview with St Lucian Tourism Minister Sen. Allen Chastanet

By Alexander Britell St Lucians head to the polls on Monday, with a choice between Prime Minister Stephenson King’s ruling United Workers Party and former Prime Minister Dr Kenny Anthony’s Saint Lucia Labour Party. The major issues in a tightly-fought […]

Mary J. Blige Just Joined the Lineup for the St Kitts Music Festival