To build resilience against external shocks and recover from the COVID-19 pandemic
A new study by the Inter-American Development Bank (IDB) has urged Caribbean countries to build sound fiscal, monetary and financial institutions in order to boost growth.
“To build resilience against external shocks and recover from the COVID-19 pandemic, Caribbean countries must advance key fiscal and financial reforms that range from stronger tax and pensions systems to improved debt and financial management,” recommends the study, released on Wednesday in the book, ‘Economic Institutions for a Resilient Caribbean’.
It recommends that the region strengthen its institutions to promote economic growth in line with sustainable fiscal management, effective monetary policy and resilient financial systems.
The analysis lays out specific reform agendas for the Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago, which are borrowing member countries of the Washington-based IDB.