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The Economy

February, 2016
Thematic Area: 
The Caribbean, more than any other region in the world, now faces a threat that has severe implications for its economic viability. This threat is the termination of Correspondent Banking Relationships (CBRs). Amidst concerns about money laundering and the financing of terrorism (ML/FT), several correspondent banks have been terminating or restricting business relationships with clients or categories of clients to avoid, rather than manage, the inherent risk. This action, referred to as ‘de-risking’ or ‘de-banking’, is a challenge that requires urgent and coordinated action from Caribbean economic, regulatory, and political leadership. This report therefore examines the underlying drivers of de-risking in the Caribbean, examines the impact of de-risking on the region, and proposes measures that can be taken to help to address the problem.
September, 2012
Thematic Area: 

An overview of the insolvency regime in Jamaica and a proposal for the corporate rescue and rehabilitation reforms based on the best practices for insolvency, bankruptcy, receivership and administration in the Caribbean, U.K., Canada and the U.S.A.

May, 2012
Thematic Area: 

Over the last decade, scrap metal theft has emerged as an epidemic across the globe. This paper draws lessons from the international scrap metal experience to inform the Jamaican context and makes policy recommendations for the effective regulation of the industry.

 

December, 2011
Thematic Area: 

This paper evaluates the value of social partnerships as a governance tool for the Commonwealth Caribbean by examining the experiences of Botswana, Ireland and Barbados, as well as the less-than-successful attempts to implement a social partnership in Jamaica.

June, 2011
Thematic Area: 

The continued use of government revenues to sustain public sector deficits has been highlighted as a major structural weakness by the International Monetary Fund (IMF), which has called for Public Sector Reform (PSR). This paper looks at success factors for PSR in Jamaica.

June, 2011
Thematic Area: 

An overhaul of Jamaica’s tax system is long overdue, but maximizing the effectiveness of the reform process requires a clear sense of priority. This brief highlights the most pressing tax reform measures for improving the Jamaican economy. 

 

September, 2010
Thematic Area: 

With the advent of the World Trade Organization (WTO), the EU and the Caribbean were forced to negotiate a more liberal Economic Partnership Agreement (EPA) in 2008 and renounce many of their preferential trade relationships. This research examines the impact of the EPA on Caribbean states, showing it to be modest.

April, 2010
Thematic Area: 

Fiscal sustainability was finally breached during the 2009 fiscal year when interest payments reached an unprecedented 66 percent of revenues. This crisis precipitated the Jamaica Debt Exchange (JDX) in February 2010 which appears to have been well designed and executed.

October, 2009
Thematic Area: 

The country faces significant gaps in its external and fiscal accounts. With limited credit options given the current international economic environment, economic restructuring is imperative to sustainable recovery. This paper shows recourse to the IMF offers a viable solution.

 

October, 2009
Thematic Area: 

An assessment of the trading relationships between Latin American and Caribbean (LAC) countries and the economic potential to be derived from trade between the LAC region and other emerging economies.

 

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