After four decades of little or not growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.
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Average Latin America and Caribbean Growth Down to 0.8 Percent This YearAbsent Structural Reforms, Future Growth May Remain LowLesson Learned: Domestic Saving Can No Longer Be OverlookedWASHINGTON, April... Show More + 15, 2015 – With China growing at a more moderate pace and commodity prices stabilizing at lower levels, Latin America and the Caribbean will need to adapt to a “new normal.” Average GDP growth in the region, slowing down steadily and sharply since 2011, is expected to reach only 0.8 percent this year, and may remain at low rates in the future unless ambitious pro-growth structural reforms are adopted. A boost in savings, which would need to be a key ingredient in a pro-growth agenda, would also help rebuild monetary and fiscal policy maneuvering space.In its latest semiannual report, “Latin America Treads a Narrow Path to Growth: The Slowdown and its Macroeconomic Challenges,” the World Bank´s Office of the Chief Economist for Latin America and the Caribbean forecasts a fourth year of Show Less -
Investment climate, infrastructure, skills key for private sector-led growthGROS ISLET, Saint Lucia, January 22, 2013—Inclusive growth that generates jobs and opportunities for all citizens in Saint Lucia... Show More + was at the center of a high-level national conference hosted today by the country at the Bay Gardens Hotel. The conference is part of the Caribbean Growth Forum (CGF), a two-year regional platform for dialogue to foster higher levels of economic growth with opportunities for all in the Caribbean.The CGF is a partnership between the World Bank, the Inter-American Development Bank (IDB), the Caribbean Development Bank (CDB) and Compete Caribbean, with support from the United Kingdom Department for International Development (DFID) and the Canadian International Development Agency (CIDA). The CGF builds on existing partnerships and involves stakeholders from the public and private sectors, academia and civil society, as well as the Caribbean Diaspora.Over 200 participants from the public Show Less -
Washington, D.C., October 23, 2012—A new IFC and World Bank report finds that four of 12* Caribbean economies implemented regulatory reforms making it easier for local entrepreneurs to do business in the... Show More + past year.Released today, Doing Business 2013: Smarter Regulations for Small and Medium-Size Enterprises highlights Jamaica and Trinidad and Tobago as the economies in the region with the most business regulatory reforms from June 2011 to June 2012. The Dominican Republic ranks among the 50 economies (out of 185) improving business regulation the most since 2005.“Jamaica made paying taxes easier for companies by allowing joint filing and payment of all social security contributions, and it reduced the time to import by allowing customs entries to be logged at night,” said Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group. “Trinidad and Tobago speeded up property transfers thanks to faster issuance of clearance certificates by the Water and Sewerage Author Show Less -
The 2015 Annual Meetings of the World Bank Group and the International Monetary Fund will take place in Lima, Peru, in October 2015, following a vote by the Boards of Governors of the two institutions.... Show More + The Annual Meetings—which bring together ministers of finance and central bank governors from the institutions’ 188 member countries—provide a unique opportunity for a broad dialogue on issues of global economic importance. They serve to discuss international economic and financial developments, the state of the global economy, and policies to reduce poverty and promote inclusive economic growth. The Annual Meetings also provide a forum for civil society, the private sector, academics and others to engage in discussions on economic issues.The last time the Annual Meetings were held in Latin America was in 1967 in Rio de Janeiro, Brazil. Show Less -