Catastrophe Risk Financing Facility (CCRIF) SPC will make a payout of approximately US$40 million to the government of Haiti following the devastating magnitude 7.2 earthquake that struck Haiti on August 14th, 2021, significantly impacting the city of Les Cayes. This payout represents the full co...

Effective August 1, 2021, Guyana by statute reduced freight charges to pre-pandemic levels (March 31, 2020) in the calculation of customs duties, excise taxes, and input VAT on goods imported. This facility however expires on January 31, 2022. This was occasioned by marked increase in shipping co...

Barbados has recorded growth of 5.5% during the April to June quarter of 2021. That’s the word from Governor of the Central Bank of Barbados Cleviston Haynes who is predicting growth of 1 to 3% for calendar 2021. Haynes said the performance of the economy continued to be constrained by the protra...

The Cayman Islands has announced a five-phase approach to reopening its tourism sector. During the first phase or ‘reduced quarantine period’, which began in June, fully vaccinated travellers are subject to a mandatory 5-day quarantine while the unvaccinated undergo 14-days isolation. In the seco...

For the first 4 months of 2021, remittance inflows into Jamaica exceeded the US$1-billion mark. Net remittance inflows of US$1012.7 million increased by 52.6% or US$349.1 million relative to the previous corresponding period. This improvement resulted from an increase of 46.2% or S$345.7 million ...

St. Kitts and Nevis is implementing another round of income support for residents who became redundant in March 2020 and remain unemployed because of the global COVID-19 pandemic. Prime Minister Dr Timothy Harris announced the $15 million, 2021 Income Support Programme on July 08. Under the progr...

Jamaica’s tourism sector continues to lead the recovery efforts for the island’s economy, earning US$1.31 billion, of which US$97.58 million has been accrued directly by the Government. According to Tourism Minister Edmund Bartlett, “Based on our run rate forecast of visitor arrivals for June 202...

The Cabinet of the Government of Jamaica has given its approval for a third telecommunications service provider, Rock Mobile, to be granted a licence to operate locally. According to Technology Minister Daryl Vaz, the RFP for the new provider is in keeping with the Government's policy objectives ...

Remittances flows to Latin America and the Caribbean grew an estimated 6.5% to $103 billion in 2020, supported by a recovering economy and moderately improving labour market in the USA. CARICOM Member States however only accounted for 6.8% with total remittances equalling $7.074 B. According to t...

The IMF and Barbados have reached a staff-level agreement on the completion of the fifth review under the EFF arrangement, which was conducted virtually between May 3-7, 2021. According to the IMF, the economy remains severely depressed by the ongoing global pandemic with tourism operating at a f...