Search Result for: fiscal year
266 results found.
Central Bank: Trinidad Economy Grew Just 0.2 Percent in 2012
Above: Port of Spain (CJ Photo) By the Caribbean Journal staff Trinidad and Tobago saw GDP growth of just 0.2 percent in 2012, lower than its expected rate of 1 percent, according to Central Bank Governor Jwala Rambarran. The shortfall […]
Barbados Plans “Hotel Innovation Fund”
Above: Bridgetown (CJ Photo) By the Caribbean Journal staff Barbados is planning to create a “Hotel Innovation Fund” that would provide low-cost financing to hoteliers and other tourism providers. The government is currently meeting with tourism stakeholders to design the […]
IMF Approves $932 Million Jamaica Deal
Above: Kingston (CJ Photo) By Alexander Britell The International Monetary Fund’s Executive Board has approved a $932.3 million Extended Fund Facility arrangement for Jamaica, it announced Wednesday. The four-year EFF represents the equivalent of 225 percent of Jamaica’s quota in […]
Solving Jamaica’s Crime Problem
By Dennis Chung CJ Contributor JAMAICA IS REALLY an amazing place. Over the last week, while we have all recognized the need to get economic and social development going, and in a week when we are expecting the Finance Minister […]
Moody’s Upgrades Belize Credit Rating, Warns of “Debt Overhang”
Above: Parliament in Belmopan By the Caribbean Journal staff New York-based Moody’s has upgraded the credit rating on Belize’s government bonds, the firm announced Monday. The rating has been lifted to Caa2 from Ca, with a “stable” outlook. The move […]
Bureaucracy and Jamaican Growth
By Dennis Chung CJ Contributor FINALLY WE CAN celebrate that we have an IMF agreement again in Jamaica. The real importance of the agreement is that it will bring with it a certain amount of confidence and multilateral support for […]
IMF Approves $10.16 Million Disbursement for Antigua and Barbuda
Above: St John’s (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has approved a $10.162 million disbursement to Antigua and Barbuda, following the completion of its eight and ninth reviews of the country’s economic performance […]
OECS Assembly Holds First Session
Above: Antigua PM Baldwin Spencer at the OECS Assembly By the Caribbean Journal staff The Organization of Eastern Caribbean States held its first-ever session on Tuesday in Antigua. The assembly is made up of appointed members from both the governments […]
Cyprus and Jamaica
By Dennis Chung CJ Contributor PROBABLY THE MOST senseless decision I have ever seen in my lifetime, was the decision by the Cyprus government and European Union to impose a levy of up to ten per cent on bank deposits. […]
Turks and Caicos Names Interim Chief Financial Officer
Above: the TCI House of Assembly By the Caribbean Journal staff Stephen Turnbull has been nominated as the new Chief Financial Officer of the Turks and Caicos Islands, the United Kingdom’s Department for International Development announced Monday. Turnbull has been […]
S&P Downgrades Puerto Rico Rating
Above: Puerto Rico (CJ Photo) By the Caribbean Journal staff Standard & Poor’s ratings services has lowered its general obligation rating on the Commonwealth of Puerto Rico to “BBB-” from “BBB,” the New York-based firm announced. Puerto Rico’s outlook is […]
IMF: Antigua and Barbuda Economic Recovery to Continue in 2013
Above: Antigua (CJ Photo) By the Caribbean Journal staff Antigua and Barbuda’s real GDP grew by 1.6 percent in 2012, buoyed by a recovery in tourism and construction, and the country’s recovery will continue in 2013, according to the International […]
Dennis Chung: Jamaica’s Survival Under the International Monetary Fund
By Dennis Chung CJ Contributor AT THE END of December 2012, when it became clear no International Monetary Fund (IMF) deal was coming, I wrote an article titled “Jamaica without the IMF,” as I felt that it was important to […]
Op-Ed: What’s Wrong With Jamaica’s International Monetary Fund Deal
By Kent Gammon Op-Ed Contributor JAMAICA JOINED the International Monetary Fund (IMF) in 1963. At that time, Jamaica had positive international net reserves of US$115.8 million falling by 1976 to negative net international reserves of $435.5 million. In 1976, Jamaica […]
Dennis Chung: Business and Consumer Confidence in Jamaica
By Dennis Chung CJ Contributor LAST YEAR, when the Jamaica Chamber of Commerce (JCC) reported that consumer and business confidence were at their highest level for years, many persons were excited about the prospects. I remember speaking with Ralston Hyman […]
Talking Trinidad Tourism With the TDC’s Cornell Buckradee
Above: Cornell Buckradee (CJ Photo) By Alexander Britell PARADISE ISLAND — Trinidad began to see growth out of the downturn in 2011, with 2012 showing similar improvement. But the Caribbean tourism market faces challenges to return to its pre-2008 levels. […]
Fitch Lowers Jamaica Outlook to Negative
Above: Kingston (CJ Photo) By the Caribbean Journal staff Fitch has lowered Jamaica’s outlook to negative, although the firm affirmed its B- credit rating on the country, it announced Friday. The revision to negative reflects “Jamaica’s rising financing constraints in […]
Dennis Chung: Avoiding Economic and Social Decline in Jamaica
By Dennis Chung CJ Contributor JAMAICA IS ONCE AGAIN at an economic crossroads. Only this time it is more critical that we take the correct path, as the wrong one today leads over a precipice. The last time we were […]
Dennis Chung: Jamaica Without the IMF
By Dennis Chung CJ Contributor AS I READ the Dec. 29, 2012 statement, issued by Jamaica’s Finance Minister concerning the status of the International Monetary Fund negotiations, I thought to myself that it is not clear when Jamaica is […]
Op-Ed: The Caribbean Cliff We Must Avoid
By Hon. Donna Christensen US Virgin Islands Delegate to Congress AS WASHINGTON frantically scrambles to prevent the United States from falling over the proverbial Fiscal Cliff, I am concerned to hear rumblings of a potential World Trade Organization (WTO) […]
Op-Ed: Jamaica and Wall Street
By David Rowe Op-Ed Contributor THE FACT THAT Barbados’ government bonds have been downgraded to junk status was not a good development for the reputation of the Commonwealth Caribbean in international financial markets. Both Moody’s and Standard and Poors now […]
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 […]
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 […]
UK Minister for Overseas Territories to Visit Turks and Caicos Next Week
Above: UK Minister for the Overseas Territories Mark Simmonds (Photo: FCO) By the Caribbean Journal staff United Kingdom Minister for the Overseas Territories Mark Simmonds will be making his first ministerial visit to the Turks and Caicos Islands next week. […]
Tillman Thomas: Sandals a Potential “Game-Changer” for Grenada
Above: Sandals LaSource Grenada By the Caribbean Journal staff The entry of resort company Sandals to Grenada’s market is a “tide that could lift all boats” in the tourism industry, Grenada Prime Minister Tillman Thomas said following the launch of […]
IMF: “Slow Recovery May Be Underway” in St Vincent and the Grenadines
Above: Bequia (Photo: Discover St Vincent) By the Caribbean Journal staff Economic indicators suggest that a “slow recovery may be underway” in St Vincent and the Grenadines, according to the International Monetary Fund, which recently concluded a visit to the […]
IMF: Antigua and Barbuda’s Economy Expected to Recover “Gradually”
Above: downtown St John’s (CJ Photo) By the Caribbean Journal staff Antigua and Barbuda’s economy is expected to recover “gradually” this year, according to the International Monetary Fund, which recently completed its seventh review of the country’s economic performance under […]
Turks and Caicos Islands Reports Revenue Surplus for First Half of 2012
Above: the Turks and Caicos (Photo: TCIT) By the Caribbean Journal staff The Turks and Caicos Islands government is reporting an overall revenue surplus of $5.72 million for the first half of 2012, an improvement of $10 million over the […]
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