The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1475536119
Total Pages : 48 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean by : Charles Amo Yartey

Download or read book The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2017-07-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and tackling transfers are the obvious targets to reduce spending. On the revenue side, there is ample room to reduce tax expenditures, eliminate distortions while broadening the tax base. Fiscal consolidation needs to be complemented by a comprehensive debt reduction strategy including tax policy reforms and structural reforms to boost competiveness.

Caribbean Renewal

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Publisher : International Monetary Fund
ISBN 13 : 1484321170
Total Pages : 397 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Caribbean Renewal by : Charles Amo Yartey

Download or read book Caribbean Renewal written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2014-05-06 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

Caribbean Small States - Challenges of High Debt and Low Growth

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498342264
Total Pages : 23 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Caribbean Small States - Challenges of High Debt and Low Growth by : International Monetary Fund. Western Hemisphere Dept.

Download or read book Caribbean Small States - Challenges of High Debt and Low Growth written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2013-02-23 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents background on Caribbean small states as context for the main paper, “Macroeconomic Issues in Small States and Implications for Fund Engagement.” It draws on recent analytical work presented at a conference for policy makers in September 2012, in Trinidad and Tobago. Caribbean small states, while sharing many features of other small states (size-related macroeconomic vulnerabilities, lack of economies of scale, and capacity constraints) have specific characteristics which merit attention

A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484353056
Total Pages : 67 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean by : Mr.Antonio David

Download or read book A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean written by Mr.Antonio David and published by International Monetary Fund. This book was released on 2018-04-26 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and long-term fiscal health and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, central bank reports, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation for these economies

Issues in Monetary and Fiscal Policy in Small Developing States

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Author :
Publisher : Commonwealth Secretariat
ISBN 13 : 184929061X
Total Pages : 92 pages
Book Rating : 4.8/5 (492 download)

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Book Synopsis Issues in Monetary and Fiscal Policy in Small Developing States by : Anthony Birchwood

Download or read book Issues in Monetary and Fiscal Policy in Small Developing States written by Anthony Birchwood and published by Commonwealth Secretariat. This book was released on 2011-09-23 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how monetary and fiscal policies are implemented in Caribbean small states, tracing the differences and similarities in tax structure, current expenditure and current revenues. It shows the impact of monetary policy on inflation and the importance of exchange rate regimes to the effectiveness of monetary policy in the region. The authors show that fiscal stabilisation in the region is very low and as such countries within the region would benefit from insurance mechanisms and stabilisation funds.

The Fiscal Experience in the Caribbean

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Author :
Publisher : Caribbean Center for Monetary Studies
ISBN 13 :
Total Pages : 808 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis The Fiscal Experience in the Caribbean by : Ramesh Ramsaran

Download or read book The Fiscal Experience in the Caribbean written by Ramesh Ramsaran and published by Caribbean Center for Monetary Studies. This book was released on 2004 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Latin America and the Caribbean

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Author :
Publisher : New York : United Nations
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Latin America and the Caribbean by : United Nations. Economic Commission for Latin America and the Caribbean

Download or read book Latin America and the Caribbean written by United Nations. Economic Commission for Latin America and the Caribbean and published by New York : United Nations. This book was released on 1990 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Grenada

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Publisher : International Monetary Fund
ISBN 13 : 1475563361
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Grenada by : International Monetary Fund. Finance Dept.

Download or read book Grenada written by International Monetary Fund. Finance Dept. and published by International Monetary Fund. This book was released on 2014-01-28 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Ex Post Assessment of Longer-Term Program Engagement on Grenada. Grenada’s engagement with the IMF played an important role in supporting the small island economy after it was buffeted by major adverse shocks. IMF support catalyzed substantial donor aid in the wake of unprecedented damage from two hurricanes and provided additional resources when the global crisis hit. Key reforms were also advanced, including the implementation of a value-added tax and strengthening of the nonbank regulatory framework. Executive Directors have agreed that a new program should support urgently needed fiscal consolidation, promote faster and more inclusive growth, and focus on a few macro-critical reforms.

Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union

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Author :
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union by : Phebby Kufa

Download or read book Fiscal Sustainability and Policy Issues in the Eastern Caribbean Currency Union written by Phebby Kufa and published by . This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fiscal position of the Eastern Caribbean Currency Union (ECCU) has deteriorated significantly in recent years, resulting in sharp increases in public debt. The sustainability of public debt is examined using the public sector budget constraint to derive the maximum public-debt-to-GDP ratio that can be sustained based on a country's projected steady-state primary balance, interest rate on public debt, and economic growth rate. In this context, government deficits and debt in several ECCU member countries appear unsustainable, posing a risk to the stability of the currency union. A critical issue facing member countries is to implement fiscal policies consistent with sustainable public finances and debt to underpin the currency union.

Fiscal Panorama of Latin America and the Caribbean 2019

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Author :
Publisher :
ISBN 13 : 9789211220179
Total Pages : 120 pages
Book Rating : 4.2/5 (21 download)

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Book Synopsis Fiscal Panorama of Latin America and the Caribbean 2019 by : United Nations

Download or read book Fiscal Panorama of Latin America and the Caribbean 2019 written by United Nations and published by . This book was released on 2019-05-06 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal Panorama of Latin America and the Caribbean, 2019 examines the role of tax policy as a tool for driving progress towards achievement of the Sustainable Development Goals. One way to strengthen collection is to address the challenges of taxing the rapidly growing digital economy. Tax policy can also be used to shift production and consumption patterns to encourage decarbonization of the economy and support improvements in public health. Lastly, the document analyses the constraints on domestic resource mobilization caused by fiscal incentives and how, effectively geared towards investment, these incentives could instead foster sustainable and inclusive development.

Sovereign Debt Crises

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Publisher : Cambridge University Press
ISBN 13 : 1108245579
Total Pages : 309 pages
Book Rating : 4.1/5 (82 download)

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Book Synopsis Sovereign Debt Crises by : Juan Pablo Bohoslavsky

Download or read book Sovereign Debt Crises written by Juan Pablo Bohoslavsky and published by Cambridge University Press. This book was released on 2017-11-02 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an obvious need to learn more about why some countries succeed and others fail when dealing with debt crises. Why do some sovereign debtors overcome economic problems very quickly and at minor human rights costs for their people, while others remain trapped by debts for years struggling with overwhelming debt burdens and exacerbating economic problems and human suffering? This book analyzes fourteen unique or singular country cases of sovereign debt problems that differ characteristically from the 'ordinary' debtor countries, and have not yet received enough or proper attention - some regarded as successful, some as unsuccessful in dealing with debt crises. The aim is to contribute to a better understanding of the policy options available to countries struggling with debt problems, or how to resolve a debt overhang while protecting human rights, the Rule of Law and the debtor's economic recovery.

Kingdom of the Netherlands-Aruba

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Publisher : International Monetary Fund
ISBN 13 : 1484306805
Total Pages : 33 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Kingdom of the Netherlands-Aruba by : International Monetary Fund. European Dept.

Download or read book Kingdom of the Netherlands-Aruba written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2013-08-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes sustaining potential growth in Aruba. As in the other Caribbean countries, there are growing concerns in Aruba about the slowdown in economic growth over the past two decades and the consequent tepid outlook for potential growth. Tackling such concerns requires identifying the underlying factors. This paper presents an overview of Aruba’s economic growth performance since 1990, analyzes factors behind the slowdown, and discusses how potential growth can be sustained. It suggests that Aruba should aim to finance its renewable energy and other future growth initiatives sustainably.

The Caribbean in a Changing World

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Author :
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443873675
Total Pages : 420 pages
Book Rating : 4.4/5 (438 download)

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Book Synopsis The Caribbean in a Changing World by : Stephanie Fullerton-Cooper

Download or read book The Caribbean in a Changing World written by Stephanie Fullerton-Cooper and published by Cambridge Scholars Publishing. This book was released on 2017-06-23 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection is a critical reflection of the evolution of Caribbean countries since the demise of the West Indies Federation in 1962. At this historical juncture, some territories opted for independence while others remained dependent territories. The volume examines Caribbean societies in comparative and general ways, covering aspects of their ongoing development and challenges. It covers such areas as Caribbean integration, the state of human capital and social policy in the region, the education sector, Caribbean economic sustainability, and, significantly, the physical environment of the Caribbean. A central question has always been: should these territories have gone independent or stayed under some British tutelage? The book addresses this question, illustrating that these island states have made considerable progress, especially in the maintenance and deepening of democratic practices.

IMF Research Bulletin, March 2013

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Publisher : International Monetary Fund
ISBN 13 : 1484376307
Total Pages : 15 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis IMF Research Bulletin, March 2013 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, March 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-03-15 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Research Summaries in the March 2013 Research Bulletin discuss "Trade Finance and Its Role in the Great Trade Collapse" (JaeBin Ahn) and "Sovereign Debt: How to Track Who Is Buying and Selling It" (Serkan Arslanalp and Takahiro Tsuda). The Q&A looks at "Seven Questions on the Implications of Global Supply Chains for Real Effective Exchange Rates" (Rudolfs Bems). Readers can also find in this issue a listing of recent IMF Working Papers, Staff Discussion Notes, and Recommended Readings from IMF Publications. The Bulletin also includes a call for papers for a research conference and information on free access to the IMF Economic Review in April.

Macroeconomic Issues in Small States and Implications for Fund Engagement

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498342310
Total Pages : 67 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Macroeconomic Issues in Small States and Implications for Fund Engagement by : International Monetary Fund. Strategy, Policy, & Review Department

Download or read book Macroeconomic Issues in Small States and Implications for Fund Engagement written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2013-02-20 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the macroeconomic characteristics and performance of small states and discusses ways in which the Fund’s engagement with these countries could be better tailored to meet their needs. The Fund previously examined small states issues in 2000, informed by a Joint Task Force Report of the Commonwealth Secretariat (CS) and World Bank. Small states continue to face many of the same challenges they did then, and the 2000 Small States Report remains the foundation for much of the work in this area, both inside and outside the Fund. However, the relative macroeconomic performance of small states has deteriorated since the late 1990s, and a fresh look is warranted.

Unleashing Growth and Strengthening Resilience in the Caribbean

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484315197
Total Pages : 378 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Unleashing Growth and Strengthening Resilience in the Caribbean by : Mr.Krishna Srinivasan

Download or read book Unleashing Growth and Strengthening Resilience in the Caribbean written by Mr.Krishna Srinivasan and published by International Monetary Fund. This book was released on 2017-11-13 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a diagnosis of the central economic and financial challenges facing Caribbean policymakers and offers broad policy recommendations for promoting a sustained and inclusive increase in economic well-being. The analysis highlights the need for Caribbean economies to make a concerted effort to break the feedback loops between weak macroeconomic fundamentals, notably pertaining to fiscal positions and financial sector strains, and structural impediments, such as high electricity costs, limited financial deepening, violent crime, and brain drain, which have depressed private investment and growth. A recurring theme in the book is the need for greater regional coordination in finding solutions to address the Caribbean’s shared and intertwined macroeconomic and structural challenges. The analysis suggests that strengthening regional and global market integration of Caribbean economies would provide an impetus to sustained growth in incomes and jobs. Greater regional and global economic integration would also facilitate structural transformation and a shift toward new economic activities, resulting in more diversified and less vulnerable economies. A central challenge for the Caribbean is thus to come together as a region, overcome the limitations posed by size, and garner the benefits of globalization. Efforts should build on existing regional arrangements; accelerating progress in implementing these agreements would stimulate trade. Policymakers could also promote deeper integration with Latin America and the rest of the world by pursuing new trade agreements, leveraging current agreements more effectively, or deepening them to include areas beyond traditional trade issues, and developing port and transport infrastructure.

Regional Economic Outlook, May 2013, Western Hemisphere

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484382471
Total Pages : 66 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Regional Economic Outlook, May 2013, Western Hemisphere by : International Monetary Fund. Western Hemisphere Dept.

Download or read book Regional Economic Outlook, May 2013, Western Hemisphere written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2013-05-06 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite some global risks, external conditions for Latin America should remain stimulative. With monetary policy in advanced economies expected to stay accommodative, external financing conditions will remain favorable. Strong demand from emerging Asian economies and the gradual recovery of advanced economies will continue to support commodity prices, benefiting exporters. The main policy challenge for most of the region is to take advantage of current conditions to continue buttressing a foundation for sustained growth. Other issues important to the region include: (i) strengthening balance sheets; (ii) understanding how changes in external conditions could impact public and external debt dynamics; and (iii) making the best use of the windfall from the recent terms-of-trade boom.