Caribbean Region Quarterly Bulletin: Volume 5: Issue 4: December 2016
Ruprah, Inder J.; Wright, Allan; Thomas, Chrystol; Wenner, Mark D.; Schmid, Juan Pedro; Gomez Osorio, Camilo; Pradelli, Juan Jose; Clarke, Dillon; Waithe, Kimberly
The macroeconomic performance of the countries in the Country Caribbean Department on average worsened in 2016 but is expected to improve in 2017. However, downside risks remain, including heightened uncertainty related to Brexit, the performance of the world economy and the new United States administration. The average performance in 2016 was driven by the weak economic performance of the commodity-producing countries while tourism-dependent countries benefited from lower oil prices and strong tourism demand. However, the fiscal situation remains challenging for all countries and the Caribbean has become one of the most indebted regions in the world. This edition of the Quarterly Bulletin discusses recent economic developments in the Caribbean and provides an outlook for 2017 and beyond. In addition, given weak economic growth accompanied by fiscal challenges, it explores whether changes in fiscal policy could accelerate growth. The bulletin spans the six IDB-member Caribbean countries as well as the Organisation of Eastern Caribbean States. The countries are The Bahamas, Barbados, Guyana, Jamaica, Suriname and Trinidad and Tobago.