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ECLAC Maintains Its 3.7% Growth Forecast for Latin America and the Caribbean in 2012


June 15, 2012 - The region continued to grow in the first quarter of the year, despite a difficult external climate.

Trinidad Central Bank: Economy in Decline

Port-of-Spain -- May 25, 2012 --(guardian.co.tt): In its April Monetary Policy Report (MPR) and Summary Economic Indicators bulletin released on Wednesday, the Central Bank reported that the T&T; economy had declined by 2.6 per cent in the fourth quarter of 2011, (October 1 to December 31, 2011) following a decline by the same amount in the third quarter (July 1 to September 30, 2011).

Jamaica: Govt. Presents Budget of $612.4 Billion

Kingston - May 11, 2012 - The Government has put forward a budget of $612.4 billion for 2012/13, with $375 billion earmarked for Recurrent (house-keeping) expenses and $237.4 billion for Capital (development) obligations.

The Caribbean Maritime Transportation Sector: Achieving Sustainability through Efficiency

March 17, 2012 - This paper provides an overview of the maritime transport industry in the Caribbean, the history of both cargo and cruise shipping, and makes nine policy recommendations that could help the region achieve sustainability and efficiency: take an integrated approach when making large strategic decisions; take a regional approach to port security; align labour market regulation to global standards; harmonize maritime transport industry legislation; consider the public benefit when investing public funds in maritime infrastructure projects; undertake collective economic, social and environmental impact studies; implement the landlord model; recognize that transshipment is not always the correct answer for every port; and acknowledge that regional organizations should provide services to member governments.

IDB Moreno: Latin America and Caribbean growth set to continue but challenges loom


March 14, 2012 - In the midst of a difficult international economic environment, the region has performed well. Growth, although it has slowed, remains robust.

IDB Report: remittances to Latin America and the Caribbean rose to $61 billion in 2011


March 9, 2012 - Latin American and Caribbean migrants sent $61 billion in remittances to their home countries last year, up 6 percent from $57.6 billion in 2010, according to a report released today by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank group.

Bermuda: Economic Report 2011

Feb. 27, 2012 - The Ministry of Finance estimates that Bermuda’s Gross Domestic Product (GDP) may have contracted by 1.5 - 2.5 per cent in 20111 following the decline of 1.9 per cent in 2010

Hovensa Closure on USVI: V.I. revenue loss through closure estimated at $60M

St. Croix - Jan. 22, 2012 - As the V.I. government grapples with declining government revenues, an estimated $67.5 million budget deficit and its own set of layoffs, one fear is that the repercussions of HOVENSA's closure will deepen the local recession by cutting off a large segment of government revenue from the refinery and its employees.

Read more: http://virginislandsdailynews.com/news/v-i-revenue-loss-through-closure-estimated-at-60m-1.1259821#ixzz1kCeB2jK5

Bermuda: Pre-Budget Report in Advance of Fiscal Year 2012-2013

During the first nine months of 2011, there was a 6.3% increase in the number of visitors to the island. Over the first three quarters of 2011, visitor air arrivals increased by 3.3% while the number of cruise visitors grew by 8.7%. The growth in air visitors over the first nine months of 2011 was the first increase over the corresponding period of a calendar year since 2007.

Barbados Economic Review 2011

Bridgetown - Jan. 5, 2012 - The Central Bank of Barbados (CBB) has published the final Economic Review for 2011 and in it the island’s main foreign exchange earner, tourism, is featured. The first article, A Note on Tourism Expenditure, details the trends in visitor spending and highlights the impact of the global recession on spending by visitors from the United Kingdom - the island’s largest source market.

Trinidad: 20,000 Hot Spot Jobs

Port-of-Spain -- Nov. 10, 2011 - The Kamla Persad-Bissessar administration is taking the bull by its horns in the fight against crime and would target youth in "hotspot" areas, low-income communities and Housing Development Corporation (HDC) estates for 20,000 new jobs, at a cost of $300 million.

ECLAC: Foreign Direct Investment Rises by 54% in the First Half of 2011 in the Region


Oct. 26, 2011 - During the first semester of 2011, foreign direct investment (FDI) in Latin America and the Caribbean showed significant growth, maintaining the trend observed since 2010, stated the Economic Commission for Latin America and the Caribbean (ECLAC)

Grenada fears Taiwan's effort to collect $28M debt

St Georges's, Grenada (AP) — Oct. 26, 2011 - The government of Grenada is warning that Taiwan's aggressive effort to collect a $28 million judgment will hurt the tourism-dependent economy of the Caribbean island.

Real growth in the ECCU for 2011 revised downwards


Basseterre - Oct. 24, 2011 -- The economic growth outlook for the Eastern Caribbean Currency Union (ECCU), has been revised downwards, with real growth for 2011 now projected at 0.4 per cent.

 

Korea’s commitment to Latin America and the Caribbean goes beyond trade and investment

Oct. 18, 2011 - South Korea, which is hosting the Korea-LAC Business Forum on Oct. 20-21, is a fast-growing trade and investment partner for the 26 countries located in Latin America and the Caribbean (LAC). Its relationship with the region goes far beyond commerce, however: Korea is the second-largest Asian contributor of overseas development assistance to LAC after Japan.

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