An analysis by the Economic Commission for Latin American and the Caribbean (ECLAC) has shown that economic growth has slowed throughout the Caribbean region, with decreased private sector activity creating an environment for meager growth in output, employment and income despite eased monetary policy by central banks.
Service-based economies like the Bahamas, St. Lucia and Jamaica are performing worse than goods-producing economies like Belize, Suriname and Trinidad and Tobago.
In a recent presentation at ECLAC’s offices in Port of Spain, Trinidad, entitled “The Caribbean in the World Economy-Context and Insights,” recently, Professor Dillo Alleyne, of ECLAC’s sub-regional headquarters for the Caribbean, said the issues faced by Caribbean economies were only emphasized by the current global economic crisis and will persist even when the crisis is over unless fiscal policies are put in place to deal with them.
He said there were two important phenomena impacting the Caribbean even if the world economy were to right itself; an emerging fiscal crisis due to rising debt, deficit and reduced capacity by governments to undertake countercyclical policy and provide social protection and intense reliance on primary commodities and intense reliance on primary commodities, with all the fluctuations for demand and volatility of prices. Comment
Former Antigua and Barbuda Prime Minister Lester Bird has rejected the suggestion by St. Vincent and the Grenadines leader Dr. Ralph Gonsalves for regional airline LIAT to be scrapped and replaced with a new airline. Comments (1)
Head of the Caribbean Association of Sex Workers Miriam Edwards says sex workers throughout the region are willing to pay taxes if respective governments would start recognizing what they do as a job. Comments (1)
Arts & Theater:
After being president for 10 years of the West Indian American Day Carnival Association (WIADCA), organizers of the annual parade on Brooklyn’s Eastern Parkway, the Trinidadian-born president Yolanda Lezama-Clarke says she is resigning. Comment
Reigning Caribbean champions Jamaica finished last year at the top of the Caribbean Football Union (CFU) rankings. Comment
Jamaicans at home and abroad say the political scandal over reputed drug lord Christopher “Dudus” Coke doomed the Jamaica Labor Party (JLP), according to a media report here. Comment
Not many high school coaches attain a career 700 victories. Comment
Five Grenadian police officers have been charged with manslaughter in the death of 39-year-old Canadian Oscar Bartholomew, and the man’s family plans to file a civil lawsuit against the state, the family’s lawyer says. Comment
The bankruptcy of Solyndra, a solar company that received a federal loan guarantee, has made the front page because of charges of cronyism. But among the biggest risks to taxpayers, who underwrite federal loan guarantees, isn’t renewable energy. It is nuclear power. Comments (1)
Albatross (Unrated) Coming-of-age drama, set on the Isle of Man, about an aspiring writer (Jessica Brown Findlay) who takes a job as a maid at a seaside hotel where she proceeds to have an affair with her boss’ (Julia Ormond) husband (Sebastian Koch) while befriending the couple’s teenage daughter (Felicity Jones). With Peter Vaughan, Angus Barnett and Kenneth Collard. Comment