BRIDGETOWN, Barbados: The majority of Caribbean economies are on the rebound says Director of Economics at the Caribbean Development Bank (CDB) Mr. Ian Durant. Speaking at the Bank’s Annual News Conference on February 20, 2024, the Bank’s chief economist stated that “CDB forecasts an average growth rate of 8.6% for its 19 Borrowing Member Countries in 2024, largely attributable to increased oil […]
An Urgent Need to Spice Up and Spread Economic Growth? Introduction On behalf of The UWI and the UWI Five Islands campus let me take this opportunity to wish the people of Grenada, Carriacou and Petit Martinique (Grenada) best wishes on the occasion of their 50th anniversary of independence. Grenada is my favourite Caribbean island […]
St. George’s – An International Monetary Fund (IMF) team led by Mr. Janne Hukka met with the authorities of Grenada during November 15–17 to discuss recent economic developments and follow up on the policy priorities raised during the 2023 Article IV Consultation. At the end of the mission, Mr. Hukka issued the following statement: The […]
Washington, DC – Grenada is navigating the recovery from the twin shocks of the pandemic and a rise in energy and food prices. The authorities’ decisive policy response supported by the policy space that was created from past fiscal prudence—provided space to cushion the impact of these shocks. As the recovery takes hold, the immediate policy […]
By: Laurel Theresa Bain The policy options for managing the economy should become common knowledge to enable public participation in the process of economic development and transformation. The main policy options for managing the economy are monetary policy, fiscal policy, and structural policy. Monetary and fiscal policies are most commonly referred to as they have […]
By Laurel Theresa Bain The countries of the Eastern Caribbean Currency Union (ECCU) originally operated under the Treaty of Basseterre (1981) which established the Organisation of Eastern Caribbean States [OECS] for the harmonisation of policies among the member states. The Revised Treaty of Basseterre of 2010 allowed for the establishment of the OECS Economic Union […]
The Government of Grenada has identified the Creative Economy as one of five (5) priority areas for the period 2022-2027, given the rapid growth of the sector in recent years and its potential for quality job creation and export earnings in Grenada. The creative economy – which comprises creative industries such as advertising, fashion, design, […]
By Laurel Theresa Bain Fiscal policy, which is the main instrument of economic management, is implemented through the execution of the annual national budget; and hence the importance of monitoring its implementation. To facilitate the monitoring of the National Budget, the Government publishes monthly data on the fiscal performance on the Ministry of Finance website www.finance.gd/index.php/fiscal-reports; and […]
By Deodat Maharaj A new economic turnSeismic shifts are taking place in the global economic architecture as countries accelerate efforts to transition clean and green economies. In 2015, at the United Nations Climate Change Conference known as COP21, world leaders signed the landmark Paris Agreement. This pact signalled the collective ambition of 196 countries to […]
