Search Result for: fiscal

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Making the Caribbean Blue

By Deodat Maharaj Op-Ed Contributor CARIBBEAN COUNTRIES face a variety of serious economic challenges which act as major impediments to their growth and development. The continued reliance on one major export product with associated vulnerability to economic shocks as well as […]

Jamaica: “Significant Improvement” in Business, Consumer Confidence

Above: Kingston (CJ Photo) By the Caribbean Journal staff Jamaica is seeing a “significant improvement” in both business and consumer confidence, according to the International Monetary Fund, which recently visited the island. According to Jan Kees Martijn, who let the […]

Jamaica’s Big Hopes for Bananas

Above: a banana plant (CJ Photo) By the Caribbean Journal staff Jamaica has big hopes for the island’s banana industry. Jamaica Agriculture Minister Derrick Kellier said this week that “major developments” would be taking place shortly in the industry, with […]

Natural Resources and Economic Policy in the Greater Caribbean

By Alberto Duran and Noemi Areli Sanchez Op-Ed Contributors As part of the regulatory function, the State, through its economic policy, directly influences the economic growth of a country. The discussion on the effects of that policy focuses generally on […]

The State of Aruba’s Economy

Above: Aruba By the Caribbean Journal staff Aruba’s economy is “recovering gradually” from a “severe double-dip recession,” according to the International Monetary Fund, which recently concluded its 2015 Article IV Mission to the Dutch Caribbean island. The recession was recovered […]

These are Four Clear Ways to Stimulate Development in Jamaica

By Dennis Chung CJ Contributor MOST times when we speak about economic and social development, many of us think about the cost of infrastructure or costs associated with the government providing stimulus to the economy. Or if we talk about […]

What the New Value Added Tax Means for Visitors to the Bahamas

Above: Nassau (CJ Photo) By the Caribbean Journal staff The Bahamas has officially implemented a new Value Added Tax regime, one which will effectively mean a slight reduction in taxes for visitors. Value Added Tax is a consumption tax on […]

Thinking Differently in Jamaica

By Dennis Chung CJ Contributor 2015 is here, and we celebrate a new year and new beginnings. But what does the turn of a new year really mean? Traditionally, we have always celebrated a new year as a new beginning, […]

Jamaica’s Prospects in 2015

By Dennis Chung CJ Contributor AS we come to the end of 2014, it is traditional for us to think about what will happen in the New Year. Apart from tradition, however, the end of a year is always used […]

Trinidad Receives $40 Million CDB Loan for Energy Policy Changes

Above: Clint Ramcharan, Director for Trinidad and Tobago (left) with CDB President, Dr Warren Smith By the Caribbean Journal staff Trinidad and Tobago has received a $40 million policy-based loan from the Caribbean Development Bank to help reinforce “policy changes” […]

Barbados Credit Rating Cut Again

Above: Barbados (CJ Photo) By the Caribbean Journal staff Barbados has seen its sovereign credit rating lowered again. New York-based Standard & Poor’s lowered the country’s long-term sovereign credit ratings to “B” from “BB-“, the ratings firm announced Friday. The […]

Productivity in Jamaica

By Dennis Chung CJ Contributor JAMAICA SEEMS set to pass the sixth International Monetary Fund (IMF) test, underlining the fact that we have, no doubt, been making progress in establishing the framework on which development must take place. I say this […]

Grenada: IMF Approves $2.9 Million Disbursement Following Review

Above: Grenada (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has completed its first review of Grenada’s performance under a three-year programme supported by an Extended Credit Facility. The review’s completion means Grenada will now […]

Overcoming Poverty in Jamaica

By Dennis Chung CJ Contributor ACCORDING to the recently released 2012 Survey of Living Conditions (SLC), Jamaica has recorded an increase in poverty levels between 2009 and 2012. “The all-Jamaica individual poverty prevalence increased by 2.3 percentage points relative to […]

Jamaica’s Fundamental Challenges

By Dennis Chung CJ Contributor ONE of the things I pointed out early in my second book is that before we can solve a problem we need to understand what the fundamental issues are. I say that because over the […]

IMF: Jamaica “On Track”

Above: Kingston (CJ Photo) By the Caribbean Journal staff Jamaica’s International Monetary Fund programme is “on track” and policy implementation “remains strong,” according to the IMF, which recently concluded a staff review mission to the country. “Jamaica’s economic transformation programme […]

Puerto Rico is “Ready” for Mega-Ships

Above: The Bay of San Juan (CJ Photo) By the Caribbean Journal staff Puerto Rico is “ready” to receive the new wave of “mega” cruise ships, according to Governor Alejandro Garcia Padilla. Old San Juan’s port recently completed a project […]

Puerto Rico Governor Appoints New President of Development Bank

Above: Puerto Rico Governor Alejandro Padilla Garcia (centre) at a press conference Wednesday) By the Caribbean Journal staff Puerto Rico Governor Alejandro Garcia Padilla has designated Melba Acosta Febo as the new president of the island’s Government Development Bank. Acosta […]

S&P Raises Jamaica Outlook

Above: Jamaica (CJ Photo) By the Caribbean Journal staff Ratings firm Standard & Poor’s has raised its outlook on Jamaica’s long-term sovereign credit ratings, it announced last week. The firm revised its outlook to positive from stable and affirmed its […]

How Much Can Jamaica Grow?

By Dennis Chung CJ Contributor THE PLANNING Institute of Jamaica (PIOJ) is targeting real GDP growth of three percent in the fiscal year 2015/16. This is against the previously targeted 1.5 to two percent, under the current IMF agreement. I have […]

IMF Announces Extension of Haiti’s Extended Credit Facility

Above: the IMF’s headquarters By the Caribbean Journal staff The International Monetary Fund’s Executive Board has approved the extension of its agreement with Haiti under an Extended Credit Facility. The agreement was extended to Dec. 28, and was taken without […]

IMF: Grenada Economic Recovery “Slowly Taking Hold”

Above: Grenada (CJ Photo) By the Caribbean Journal staff Grenada has made a strong start in implementing its new IMF programme, the fund said following the completion of its first review of its programme with the country. The programme was […]

Jamaica: Economy Grew Between 1 and 2 Percent in Second Quarter

Above: (left) Bank of Jamaica Governor Brian Wynter (JIS Photo) By the Caribbean Journal staff Real economic activity in Jamaica grew expanded by between 1 and 2 percent in the second quarter, according to a new report from the Bank […]

Jamaica’s Growing Crisis

By Dennis Chung CJ Contributor WHILE we debate the economic challenges facing Jamaica, there is an emerging crisis that many are not speaking of, but which we must address as a country. This is the health of our population, and […]

Antigua and Barbuda, Caribbean Economic Powerhouse?

Above: St John’s Harbour in Antigua (CJ Photo) By Alexander Britell Can Antigua be the Caribbean’s version of Singapore? That’s the stated goal of the new government of Prime Minister Gaston Browne, whose Antigua and Barbuda Labour Party won the […]

Social Justice and Economic Development in Jamaica

By Dennis Chung CJ Contributor EVERYONE should know by now that I believe Jamaica’s economic programme is being managed properly, as the fiscal and legislative adjustments being made are definitely the right option for creating a positive environment for economic […]

Dominica to Begin Rehabilitation Projects in Roseau, Portsmouth

Above: Roseau, Dominica (CJ Photo) By the Caribbean Journal staff Rehabilitation and enhancement projects of the city of Roseau and the town of Portsmouth, Dominica will begin in the 2014/2015 fiscal year, according to Prime Minister Roosevelt Skerrit. The projects […]

St Vincent and the Grenadines to Receive $6.4M IMF Disbursement

Above: St Vincent (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has approved a $6.4 million disbursement to St Vincent and the Grenadines, the organization announced Friday. The funding will be drawn from a Rapid […]

Rum Journal: From Jamaica, a Legendary Brand Grows Up