R E S I L I E N C E : B U I L D I N G B E T T E R. Dr. Justin Ram December 8, 2017
|
|
- Annabella Rich
- 5 years ago
- Views:
Transcription
1 R E S I L I E N C E : B U I L D I N G B E T T E R Dr. Justin Ram December 8, 2017
2 AGENDA 01 Why we are vulnerable: Regional Challenges 02 Cost of Natural Disasters 03 Resilience Building: Stepping back to build better 04 Not just rhetoric: It s all about Implementation (NWW)
3 Regional Challenges Macroeconomic Low growth (average 1.1 % over a decade) High debt (Regional average 77% of GDP) Low commodity prices and declining reserves Limited trade markets Poor Human Development High poverty (43.7%) and youth unemployment (18-47%) Poor education outcomes, skills mismatch and brain drain High crime and citizen insecurity Low Productivity & Competitiveness Jamaica is the 70 th country in the 2018 WB Ease of Doing Business highest BMC Large infrastructure gaps Weak governance Inefficient and costly transport links and high energy costs Population decline Lack of economies of scale Environmental Threats High annual natural disaster costs (on average ~2% of GDP) Low insurance payouts Insufficient building codes Poor climate change adaptation tools
4 Regional debt levels are unsustainably high BAR JAM ANT BZE DOM SVG GRE BAH SLU SKN TT SUR GUY ANG HAI Government Debt/GDP (%) Change in %
5 Regional Rankings World Bank Doing Business Reports Best Performer: Jamaica(70 th ) positive reforms ( ) Most Reforms: Jamaica(11) negative reforms ( ) Source: World Bank
6 National Poverty Levels, % of population Latest year available Haiti (2012) Suriname (2012) Belize (2009) Grenada (2008) Guyana (2006) St Vincent and the Grenadines (2008) St. Lucia (2005) BMC poverty levels are high, Dominica (2009) 28.8 ranging St. Kitts (2009) 23.7 between 2% and 58.5% British Virgin Islands (2002) Turks and Caicos (2012) Jamaica (2012) Barbados (2010) Antigua & Barbuda (2007) Nevis (2009) Trinidad and Tobago (2005) Bahamas (2001) Anguilla (2009) Cayman Islands (2007)
7 NORTHERN AMERICA 1950 >175 million (7%) million (5%) million (4%) ASIA billion (60%) billion (43%) EUROPE 1950 >500 million (20%) million (10%) million (6%) Global population evolution is helping to change world trade patterns Source: Financial Times; UN Dept. of Economic and Social Affairs LAC million (9%) million (6%) AFRICA billion (17%) billion (40%) 2100: 2017: UN 1950: Projected World World World Population Population = 7.6 = 2.5 billion billion > 11.2 billion Oceania million (0.5%) million (0.6%)
8 1200 Indexed Estimated/Predicted Population Base = 1950 Expected pop. in 2100 Change from TCI, 1040 BEL, , , % +92% 800 Migration and declining fertility will contribute to a slowdown of Caribbean population growth BAH, 592 BVI, 500 HAI, 399 ANG, 260 TNT, 152 GUY, 144 JAM, 102 GRE, 91 MON, ,000 35, M 13, , , M 70,000 5, % +17% +20% -13% -28% -24% -50% -35% 0% Source: UN Dept. of Economic and Social Affairs Grenada and Montserrat will have lower populations than in 1950
9 AGENDA 01 Why we are vulnerable: Regional Challenges 02 Cost of Natural Disasters 03 Resilience Building: Stepping back to build better 04 Not just rhetoric: It s all about Implementation (NWW)
10 Economic and Fiscal Impact of Natural Disasters Disasters have crippled economies $52 billion Total damages to the region from 148 disasters ( ) Higher fiscal deficits and public debt ratios Decline in key industries Larger trade deficits Population migration
11 Damages to GDP 4.5x 6x Small developing states are disproportionately vulnerable to natural disasters Source: IMF, 2016 Larger States 0.4% Small States 2% Caribbean 2.4% Disaster Frequency* Larger States (0.2) 2x 7x Small States (0.4) Caribbean (1.4) * Average annual disasters per 1000 km sq.
12 The economic costs of natural disasters have been significant Economic Costs of Storms in the region 1989 Hugo 434% of Montserrat s GDP 2004 Ivan 200% of Grenada s GDP 2017 Irma and Maria Estimates 2015 Erika 96% of Dominica s GDP Antigua & Barbuda: ~10% of GDP and 95% of the structures destroyed in Barbuda 225% of Dominica s GDP OT s: significant loss of life and 90% damage to key infrastructure
13 AGENDA 01 Why we are vulnerable: Regional Challenges 02 Cost of Natural Disasters 03 Resilience Building: Stepping back to build better 04 Not just rhetoric: It s all about Implementation (NWW)
14 Stepping back in order to jump better Macroeconomic Economic growth and diversification Strong/ resilient financial sector Productivity & Competitiveness Private sector-led growth Opening new trade markets Caribbean Blueprint: A vision for our resilient economies, society & environment Fiscal rules, e.g., max debt/gdp Human Development Targeted social interventions: Good quality education for all Workforce skills training based on employers needs Conditional cash transfers to the most vulnerable Sustainable Society Regional payments facility (Fintech) First class and costeffective infrastructure Environmental Preparedness Strict building code compliance CCRIF, indemnity insurance, resiliency funds Environmental tools Climate change adaptation tools Regional Integration Gender Equality
15 Resilience involves budgeting for disaster before it occurs EX-ANTE BUDGETING the practice of recognizing the cost of public policy for disaster relief and recovery before a loss event - OECD If Governments: Adopted effective ex-ante policies Focused on disaster risk reduction and management Recognized the fiscal risks and the attendant implicit contingent liabilities Facilitated increased national savings They could increase long-term well-being in the face of disasters Increased savings Effective mitigation Disciplined precommitment to provide post disaster relief and recovery
16 PRIORITIZED SAVINGS PRUDENT SPENDING Government responsibility: Building resiliency through effective budgeting Save government revenue first, then apply to spend Building a resilience/ savings/ rainy day fund Contributing to CCRIF in order to receive immediate liquidity at natural event Borrowing for productive, resilient investments with minimum 12% ERR Max. debt/gdp ratio of 50% with 10% buffer for disaster emergency funding Access post-disaster concessional resources based on new resilience index More balanced public finances Improved sovereign credit ratings Governments borrow cheaply on the market
17 Public Finance Management 1 01 Fiscal Responsibility Framework Fixed fiscal objectives or rules Nudging towards fiscal responsibility 02 Medium-Term Fiscal Framework 03 Sets multi-year targets Medium-Term Budgetary Framework Determines multi-year spending plans Annual Budget
18 Default Government Savings 2 Nudging the Caribbean towards fiscal responsibility Government Revenue Government accesses 90% for budget expenditures 10% saved by default
19 A savings Gender Targeted Regional Government fund equality More social allows Integration reliance ensures spends interventions us to react that less private will assist all and to including households disasters, sector saves with scaling more quality but can if we be resilient; need need to we borrow, want to be to we education competitive build have resilience a good for and allcredit from with the scale rating bottom up If we are to have Resilient Budgeting, there are implications Macroeconomic Productivity & Competitiveness Macroeconomic Macroeconomic Productivity & Competitiveness Economic Economic Economic growth growth growth and and and diversification diversification Strong/ Strong/ Strong/ resilient resilient resilient financial financial financial sector sector sector Private Private sector-led sector-led growth growth Opening new new trade trade markets markets Fiscal Fiscal rules, rules, e.g., e.g., max max debt/gdp Regional payments facility facility (Fintech) (Fintech) debt/gdp First First class class and cost- and costeffectiveffective infrastructure infrastructure Human Development Human Development Targeted social interventions: Targeted social Good quality interventions: education for all Good quality Workforce education skills training for based all on employers needs Workforce skills training based on Conditional cash transfers to the employers most needs vulnerable Conditional cash transfers to the most vulnerable Regional Integration Regional Integration Sustainable Society Environmental Preparedness Preparedness Strict building code compliance Strict building code compliance CCRIF, indemnity insurance, resiliency funds CCRIF, indemnity insurance, resiliency funds Environmental technology Environmental technology Climate change adaptation tools Climate change adaptation tools Gender Equality Gender Equality
20 AGENDA 01 Why we are vulnerable: Regional Challenges 02 Cost of Natural Disasters 03 Resilience Building: Stepping back to build better 04 Not just rhetoric: It s all about Implementation (New Ways of Working)
21 Building Back Better Physically, Economically and Socially Steps to Resilience Cabinet Prioritization Planning Labs Open Day Roadmap KPI Targets Implementation Seeking Meticulous Hosting We Communicate Setting Collaborating can Publishing Gathering open leverage out KPIs execution external forums a the to the We should not let the Delivery monitoring achievements urgent of stakeholders Roadmap determine validation the share Resilience stop Unit progress us the for model of from in and Strategic Plan towards rebuilding challenges Resilience thinking government, redesign ensuring rebuilding about Direction Plan projects with and the that with important. The linked specific targets and the for business, implementing resiliency; public achieved targets rebuild are objectives and met and our targets being solicit within the and challenges of climate and community stipulated rebuilding development open infrastructure encouraging action feedback to redesigning time program to plans will develop shape and to at a both detailed uncompromising humanity s institutions accountability HOG Resilience and future. not with the just greater quality the infrastructure public Plan standards resiliency Martin Wolf, FT Columnist 7 External Audit 8 Annual Report
22 We should not let the urgent stop us from thinking about the important. The linked challenges of climate and development will shape humanity s future. - Martin Wolf, FT Columnist
CARIBBEAN ECONOMIC REVIEW AND OUTLOOK
CARIBBEAN ECONOMIC REVIEW AND OUTLOOK Dr. Justin Ram Director of Economics Caribbean Development Bank Conference Centre February 7, 2018 Agenda 01 The global picture 02 Caribbean economic review and outlook
More informationSAMOA PATHWAY Session 5 7 AUGUST 2018 A S S E S S I N G P R O G R E S S I M P L E M E N T A T I O N. Dr. Justin Ram. Director of Economics, CDB
SAMOA PATHWAY Session 5 7 AUGUST 2018 A S S E S S I N G P R O G R E S S I M P L E M E N T A T I O N Dr. Justin Ram Director of Economics, CDB RECAP: Regional and Local Challenges Macroeconomic Low economic
More informationA Case for Countercyclical Monetary Policy in the Caribbean
CONFERENCE ON THE ECONOMY 2018 UWI STA A Case for Countercyclical Monetary Policy in the Caribbean Dr. Justin Ram Director of Economics, Caribbean Development Bank The Big Picture: Last 10 Years in the
More informationCARIBBEAN ECONOMIC REVIEW AND OUTLOOK. Dr Justin Ram Caribbean Development Bank / Barbados 17 th February 2017
CARIBBEAN ECONOMIC REVIEW AND OUTLOOK Dr Justin Ram Caribbean Development Bank / Barbados 17 th February 2017 AGENDA 01 The Global Picture 02 The Regional Picture 03 Vision THE GLOBAL PICTURE MODEST ACCELERATION
More informationCDB - A catalyst for development resources in the Caribbean
CDB - A catalyst for development resources in the Caribbean High-Level Roundtable on International Cooperation for Sustainable Development in Caribbean Small Island Developing States Bridgetown, Barbados
More informationCARIBBEAN DEVELOPMENT BANK
SDF 8/1 PM-4 CARIBBEAN DEVELOPMENT BANK PREPARATORY MEETING OF CONTRIBUTORS ON A REPLENISHMENT OF RESOURCES OF THE UNIFIED SPECIAL DEVELOPMENT FUND FOR THE EIGHTH CONTRIBUTION CYCLE TO BE HELD IN BARBADOS
More informationRemarks. Dr. William Warren Smith President Caribbean Development Bank Annual News Conference
AS PREPARED FOR DELIVERY Remarks Dr. William Warren Smith President Caribbean Development Bank 2019 Annual News Conference February 7, 2019 CDB Conference Centre, St. Michael, Barbados Good morning all
More informationANNUAL NEWS CONFERENCE. Dr. Justin Ram Director, Economics Caribbean Development Bank Bridgetown, Barbados February 7, 2019
2019 ANNUAL NEWS CONFERENCE Dr. Justin Ram Director, Economics Caribbean Development Bank Bridgetown, Barbados February 7, 2019 Caribbean Region s challenges LOW GROWTH HIGH DEBT HIGH UNEMPLOYMENT Caribbean
More informationCSME & SOCIAL SECURITY
CSME & SOCIAL SECURITY The Impact of the CSME on Regional Social Security Systems CAA 16 th Annual Conference Paramaribo, Suriname December 7-8, 2006 Derek M. Osborne 1 What is CARICOM? Caribbean Community
More informationPamella McLaren, President CARADEM
Pamella McLaren, President CARADEM Order Of Presentation Why an association? Who we are? Regional Challenges Proposed Steps and Accomplishments Why an Association? Debt problems of small states differ
More informationQuarterly Public Sector Debt Statistics in the Caribbean
Quarterly Public Sector Debt Statistics in the Caribbean Reproductions of this material or any parts of it should refer to the IMF Statistics Department as the source Background Important lessons for public
More informationDisaster Risk Management in the Caribbean Case Study: Rapid Damage and Loss Assessment following the 2013 Disaster
Belize benefits from knowledge and experiences from the PPCR Disaster Risk Management in the Caribbean Case Study: Rapid Damage and Loss Assessment following the 2013 Disaster Photo Credit: http://gov.vc
More informationCARIBBEAN AND CENTRAL AMERICAN PARTNERSHIP FOR CATASTROPHE RISK INSURANCE POOLING RISK TO SAFEGUARD AGAINST CATASTROPHES GENERATED BY NATURAL EVENTS
CARIBBEAN AND CENTRAL AMERICAN PARTNERSHIP FOR CATASTROPHE RISK INSURANCE POOLING RISK TO SAFEGUARD AGAINST CATASTROPHES GENERATED BY NATURAL EVENTS May 2014 NINE COUNTRIES IN THE CARIBBEAN AND CENTRAL
More informationCARIBBEAN DEVELOPMENT BANK TOTAL PUBLIC DEBT BORROWING MEMBER COUNTRIES VOLUME XIII
CARIBBEAN DEVELOPMENT BANK TOTAL PUBLIC DEBT 1999-2004 BORROWING MEMBER COUNTRIES VOLUME XIII The Bank does not accept responsibility for the accuracy or completeness of this publication. Economics Department
More informationA Time to Act. Small States Debt and Financing
A Time to Act Small States Debt and Financing Panel Discussion: UN PrepCom on Small Island Developing States 24 th February 2014 United Nations, New York Commonwealth Level Advocacy Mission I promise that
More informationAnalyzing the Impact of the Global Financial Crisis on the Government of Trinidad and Tobago Fiscal Accounts
Analyzing the Impact of the Global Financial Crisis on the Government of Trinidad and Tobago Fiscal Accounts Presented by: Richard Cassie and Kester Thompson XLIV (44 th) Annual Conference of Monetary
More informationECONOMIES THE CARIBBEAN IN 2012 PART I INTERNATIONAL ECONOMIC DEVELOPMENTS
PART I THE CARIBBEAN ECONOMIES IN 2012 INTERNATIONAL ECONOMIC DEVELOPMENTS Global Recovery Failed To Take Off In 2012 Growth in the global economy weakened in 2012 (3.2%, compared with 3.9% in 2011), resulting
More informationDebt Burden and Fiscal Sustainability in the Caribbean Region IMF- Presentation
Debt Burden and Fiscal Sustainability in the Caribbean Region IMF- Presentation Trevor Alleyne Division Chief Caribbean I Division Western Hemisphere Department International Monetary Fund- IMF Meeting
More informationMonitoring Private Sector External Debt in the Caribbean: An updated and revised analysis
Monitoring Private Sector External Debt in the Caribbean: An updated and revised analysis Joseph Jason Cotton Vishana Jagessar Conference on the Economy 2018 University of the West Indies, St. Augustine
More informationSOVEREIGN CATASTROPHE RISK POOLS A Brief for Policy Makers 1
SOVEREIGN CATASTROPHE RISK POOLS A Brief for Policy Makers 1 More than 1 billion people have lifted themselves out of poverty in the past 15 years, but climate and disaster risks threaten these achievements.
More informationCapital Regimes What s appropriate for the Caribbean. Marcia Tam-Marks, FSA Caribbean Actuarial Association December 2-4, 2015 Trinidad and Tobago
Capital Regimes What s appropriate for the Caribbean Marcia Tam-Marks, FSA Caribbean Actuarial Association December 2-4, 2015 Trinidad and Tobago Outline IAIS ICP 17 Current capital regimes Valuation Methods
More informationClimate Change and Natural Disasters in Small Island Developing States
Climate Change and Natural Disasters in Small Island Developing States Sofia Bettencourt Rolande Simone Pryce Habiba Gitay Lead Adaptation Specialist Sr. Operations Officer Sr. Environmental Specialist
More informationDebt Burden and Fiscal Sustainability in the Caribbean Region (Updated notes)
Debt Burden and Fiscal Sustainability in the Caribbean Region (Updated notes) Meeting of Experts on Debt Burden in the Caribbean Region Port of Spain, Trinidad and Tobago 24 February 2014 Intra-Regional
More informationThe Lessons of 2017 Perspective from the World Bank Group
The Lessons of 2017 Perspective from the World Bank Group Barbuda Dominica Hurricane Irma Hurricane Maria Rebuild, Rethink, Resilience: Lessons for economic and security partnerships following after the
More informationDisaster Risk. Management. Niels Holm-Nielsen. Lead Specialist Disaster Risk Management
Disaster Risk Management Niels Holm-Nielsen Lead Specialist Disaster Risk Management 1 Who Cares? 1 tropical storm was the likely cause of 20% of the increase in poverty in Guatemala between 2006 and 2011
More informationReforming Tax Incentives to Support Sustainable Development
Reforming Tax Incentives to Support Sustainable Development A Caribbean Perspective: Saint Lucia s Roadmap Dr. Reginald Darius Permanent Secretary, Ministry of Finance Saint Lucia Background Revenue performance
More informationCOTE 2017 ARMCHAIR DISCUSSION ECONOMIC PERSPECTIVES ON THE REGION. Anthony Peter Gonzales
COTE 2017 ARMCHAIR DISCUSSION ECONOMIC PERSPECTIVES ON THE REGION Anthony Peter Gonzales 11/10/2017 GROWTH RATES Since 2009 the majority of Caribbean countries have grown on average 1.2% per year, compared
More informationThe Global Facility for Disaster Reduction and Recovery. Niels Holm-Nielsen Lead Disaster Risk Management Specialist
The Global Facility for Disaster Reduction and Recovery Niels Holm-Nielsen Lead Disaster Risk Management Specialist Bringing Scale to Disaster Risk Management: the Eastern Caribbean Eastern Caribbean Photo
More informationNANP FUND BUDGET AND CONTRIBUTION FACTOR FOR JULY 2007 TO JUNE 2008
NANP FUND BUDGET AND CONTRIBUTION FACTOR FOR JULY 2007 TO JUNE 2008 To: Billing & Collection Working Group The budget has been prepared to determine the funding requirements and the contribution factor
More informationStatement by the Hon. V. NAZIM BURKE, Governor of the Fund and the Bank for GRENADA, on behalf of the Joint Caribbean Group
Governor s Statement No. 26 October 12, 2012 Statement by the Hon. V. NAZIM BURKE, Governor of the Fund and the Bank for GRENADA, on behalf of the Joint Caribbean Group Statement by the Hon. V. Nazim
More informationIS DISASTER-RELATED MICROINSURANCE A VIABLE DISASTER RISK REDUCTION STRATEGY?: LEARNING FROM CARIBBEAN SIDS
IS DISASTER-RELATED MICROINSURANCE A VIABLE DISASTER RISK REDUCTION STRATEGY?: LEARNING FROM CARIBBEAN SIDS By Denise D.P. Thompson, PhD John Jay College of Criminal Justice American Society for Public
More informationShould Social Security Funds Invest in Government Securities? Derek Osborne CAA Conference, Dec. 2 nd, 2010, Barbados
Should Social Security Funds Invest in Government Securities? Derek Osborne CAA Conference, Dec. 2 nd, 2010, Barbados Today s Agenda Features of Caribbean social security schemes Social security investments
More informationCARIBBEAN DEVELOPMENT BANK LENDING POLICIES
CARIBBEAN DEVELOPMENT BANK LENDING POLICIES P.O. Box 408, Wildey, St. Michael Barbados, West Indies Telex: WB 2287 Telefax: (246) 426-7269; (246) 228-9670 Telephone: (246) 431-1600 Internet Address: http://www.caribank.org
More informationToday s Presentation. Background. Objectives
Today s Presentation GLOBAL LABOUR MARKET INEQULITIES AND POPULATION HEALTH: An analysis of American countries Carles Muntaner DLSPH, University of Toronto Edwin Ng Centre for Research in Inner City Health,
More informationBoosting Financial Resilience to Disaster Shocks
Boosting Financial Resilience to Disaster Shocks Good Practices and New Frontiers World Bank Technical Contribution to the 2019 G20 Finance Ministers and Central Bank Governors Process January 16, 2019.
More informationTerms of Reference Technical Expert for CCRIF SPC Central America SP
Terms of Reference Technical Expert for CCRIF SPC Central America SP 1. Background In 2007, the Caribbean Catastrophe Risk Insurance Facility was formed as the first multi-country risk pool in the world,
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Ninth Meeting April 12 13, 2019 IMFC Statement by Bill Morneau Minister of Finance Canada On behalf of Antigua and Barbuda, The Bahamas, Barbados,
More informationThe Global Financial Crisis Implications for the Caribbean
The Global Financial Crisis Implications for the Caribbean Trevor Alleyne* Caribbean Development Bank Conference Barbados December 3, 28 *The views expressed herein are those of the author and should not
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Third Meeting April 16, 2016 IMFC Statement by Bill Morneau Minister of Finance, Canada On behalf of Antigua and Barbuda, The Bahamas, Barbados, Belize,
More informationStatus of regional activities and risks
6th Meeting ofthe ICP IACG September 24-28, 2018 World Bank, Washington DC Status of regional activities and risks Maria Paz Collinao, Bruno Lana and Giovanni Savio Unidad de Estadísticas Económicas y
More informationDebt Burden and Fiscal Sustainability in the Caribbean Region
Debt Burden and Fiscal Sustainability in the Caribbean Region (24/02/2014) Pág. 1 1.- Introduction The main objective of the paper is to examine the issue of debt burden and fiscal sustainability in the
More informationTHE CARIBBEAN DEVELOPMENT BANK (CDB)
THE CARIBBEAN DEVELOPMENT BANK (CDB) is a regional financial institution established by Agreement signed in Kingston, Jamaica, in 1969. It has a membership of 26 countries consisting of 18 regional borrowing
More informationFinancial Stability Institute. The implementation of the new capital adequacy framework in the Caribbean
Financial Stability Institute The implementation of the new capital adequacy framework in the Caribbean Summary of responses to the Basel II Implementation Assistance Questionnaire July 2004 The implementation
More informationBOARDS OF GOVERNORS 2008 ANNUAL MEETINGS WASHINGTON, D.C.
BOARDS OF GOVERNORS 2008 ANNUAL MEETINGS WASHINGTON, D.C. INTERNATIONAL MONETARY FUND WORLD BANK GROUP INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL FINANCE CORPORATION INTERNATIONAL
More informationTerms of Reference. 1. Background
Terms of Reference Peer Review of the Actuarial Soundness of CCRIF SPC s Loss Assessment Models for Central America and the Caribbean (i) Earthquake and Tropical Cyclone Loss Assessment Model (SPHERA)
More informationStatement by the Hon. ROSAMUND EDWARDS, Governor of the Bank and the Fund for DOMINICA, on Behalf of the Joint Caribbean Group
Governor Statement No. 42 September 23, 2011 Statement by the Hon. ROSAMUND EDWARDS, Governor of the Bank and the Fund for DOMINICA, on Behalf of the Joint Caribbean Group Statement by the Hon. Rosamund
More informationCCMF 47th Annual Conference
Credit Risk and Basel II Implementation in the Caribbean CCMF 47th Annual Conference Bank of Guyana, Georgetown, Guyana November 18-20, 2015 Presenter: Courtney Christie-Veitch Caribbean Regional Technical
More informationFinancing Universal Health Coverage (UHC) in the Caribbean: The Fiscal Space Issue
Financing Universal Health Coverage (UHC) in the Caribbean: The Fiscal Space Issue Stanley Lalta Health Economics Unit, UWI Presented at PAHO/WHO Workshop Barbados, 22-23 October 2012 Organisation of Presentation
More informationApplicant Guidelines CCRIF Regional Internship Programme 2018
Applicant Guidelines CCRIF Regional Internship Programme 2018 About CCRIF SPC In 2007, the Caribbean Catastrophe Risk Insurance Facility was formed as the first multi-country risk pool in the world, and
More informationA Policy Blueprint for Caribbean Economies
CDB Working Paper No. 1 A Policy Blueprint for Caribbean Economies By Justin Ram, Raquel Frederick, Dindial Ramrattan, Kevin Hope, and Wayne Elliott May 2018 JEL classification: O10, O21, O54, P17 Keywords:
More informationSUMMARY OF THE RESULTS OF THE COMMERCIAL BANK SENIOR LOAN OFFICERS OPINION SURVEY ON CREDIT MARKET CONDITIONS IN THE ECCU (JULY TO DECEMBER 2016)
SUMMARY OF THE RESULTS OF THE COMMERCIAL BANK SENIOR LOAN OFFICERS OPINION SURVEY ON CREDIT MARKET CONDITIONS IN THE ECCU (JULY TO DECEMBER ) EASTERN CARIBBEAN CENTRAL BANK ST KITTS SUMMARY OF THE RESULTS
More informationSolar PV in the Caribbean Opportunities and Challenges
Solar PV in the Caribbean Opportunities and Challenges Also See: Latin America PV Playbook The Latin America PV Playbook explores the budding Latin American PV Market, specifically Mexico, Brazil, Chile,
More informationSummary of 2013/14 Doing Business Reforms in Latin America and the Caribbean 2
Doing Business 2015 Fact Sheet: Latin America and the Caribbean Sixteen of 32 economies in Latin America and the Caribbean implemented at least one regulatory reform making it easier to do business in
More informationTerms of Reference GIS Review of the Earthquake and Tropical Cyclone Loss Assessment Model (SPHERA) for Central America and the Caribbean
Terms of Reference GIS Review of the Earthquake and Tropical Cyclone Loss Assessment Model (SPHERA) for Central America and the Caribbean 1. Background In 2007, the Caribbean Catastrophe Risk Insurance
More informationTrade and Natural Disaster Response. Ricardo James, Charge d Affaires, Permanent Delegation of the Organization of Eastern Caribbean States (OECS)
Trade and Natural Disaster Response Ricardo James, Charge d Affaires, Permanent Delegation of the Organization of Eastern Caribbean States (OECS) Natural Disaster Threats in the Caribbean Hurricanes and
More informationSTATEMENT OF INTERIM FINANCIAL POSITION (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018
STATEMENT OF INTERIM FINANCIAL POSITION (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 STATEMENT OF FINANCIAL POSITION As of September 30, 2018 (expressed in thousands of United States dollars)
More informationThe Caribbean Catastrophe Risk
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 44695 Operational Innovations In Latin America and the Caribbean The Caribbean Catastrophe
More information1. Background. CCRIF SPC s sustainability relies on certain key factors:
Terms of Reference Peer Review of the Financial Module of the Earthquake and Tropical Cyclone Loss Assessment Model (SPHERA) for Central America and the Caribbean 1. Background In 2007, the Caribbean Catastrophe
More informationGovernment of Belize Pilot Program for Climate Resilience Sub-Committee Meeting Washington, DC November 1, 2013
Government of Belize Pilot Program for Climate Resilience Sub-Committee Meeting Washington, DC November 1, 2013 Overview Climate Impacts Transformational Shift Analysis and Consultation Moving Forward
More informationRISK TRANSFER AND FINANCE EXPERIENCE IN THE CARIBBEAN. Orville Grey March 2016
RISK TRANSFER AND FINANCE EXPERIENCE IN THE CARIBBEAN Orville Grey March 2016 WHO WE ARE? WHER E WE ARE? WEATHER-RELATED LOSS & DAMAGE RISING Caribbean is vulnerable to weather related hazards e.g. drought,
More informationTHE CARIBBEAN SUBRCGTON
Ia r i b b e a n Ie v e l o p m e n t AND IO-OPERATION lommittee THE CARIBBEAN SUBRCGTON CT7 o o Antigua and Barbuda Aruba Bahamas % Barbados Belize Br. Virgin Islands Cuba Dominica t>> Dominican Republic
More informationBIBA International Business Forum 2017 Panel II: Strategic Moves Under A Trump Presidency
BIBA International Business Forum 2017 Panel II: Strategic Moves Under A Trump Presidency Alicia Nicholls Trade & Development Consultant/Consulting Legal Researcher FRANHENDY ATTORNEYS Lloyd Erskine Sandiford
More informationLatin America and the Caribbean. Risk & Vulnerability Assessment Highlights (2018) Better solutions. Fewer disasters. Safer world.
Better solutions. Fewer disasters. Safer world. Latin America and the Caribbean Risk & Vulnerability Assessment Highlights (2018) Introduction As part of PDC s annual Risk and Vulnerability Analysis update,
More informationCaribbean and Central American Partnership for Catastrophe Risk Insurance
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Caribbean and Central American Partnership for Catastrophe Risk Insurance Pooling Risk
More informationEXTERNAL PUBLIC DEBT OF CARICOM MEMBER STATES
EXTERNAL PUBLIC DEBT OF CARICOM MEMBER STATES 1990-2000 PREPARED AND COMPILED BY: STATISTICS SUB-PROGRAMME INFORMATION AND COMMUNICATION PROGRAMME CARIBBEAN COMMUNITY (CARICOM) SECRETARIAT GEORGETOWN,
More informationCOMMONWEALTH OF DOMINICA
COMMONWEALTH OF DOMINICA CITIZENSHIP BY INVESTMENT Simply Perfect CITIZENSHIP BENEFITS UNITED ST ATES MEXICO ATEMALA THE BAHAMAS CUBA DOMINICAN REPUBLIC PUERTO RICO SAINT KITTS and NEVIS GU EL SALVADOR
More informationOutlook for the World Economy: Implications for the Caribbean. Saul Lizondo. Western Hemisphere Department International Monetary Fund
Outlook for the World Economy: Implications for the Caribbean Saul Lizondo Associate Director Western Hemisphere Department International Monetary Fund Trinidad id d and Tobago, September, 1 Presentation
More informationBank of america overdraft fees phone number
Home Bank of america overdraft fees phone number Deposits and payments may not be available at some ATMs. We charge an Overdraft Item Fee when you make a transaction for an amount that is more than the
More informationProvisional annotated agenda, timetable and organization of work
Distr.: General E/ICEF/2016/13 18 July 2016 Original: English United Nations Children s Fund Executive Board Second regular session 2016 14-16 September 2016 Item 2 of the provisional agenda For decision
More informationSt. Martin 2013 SERVICES AND RATES
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationTrends in the Global Economy
Trends in the Global Economy Conference on the Economy, UWI, October 1, 2009 Alvin Hilaire Chief Economist & Director of Research Central Bank of Trinidad & Tobago Trinidad & Tobago s size and global links
More informationAgeing and the human rights of older persons Twin imperatives for action
Ageing and the human rights of older persons Twin imperatives for action Economic Commission for Latin America and the Caribbean Subregional Headquarters for the Caribbean Twin imperatives for action Population
More informationThirty-eighth Regular Meeting of the Executive Committee Program Budget. IICA/CE/Doc. 679 (18) - Original: Spanish
Thirty-eighth Regular Meeting of the Executive Committee 2019 Program Budget IICA/CE/Doc. 679 (18) - Original: Spanish San Jose, Costa Rica 17-18 July 2018 Program Budget 2019 Inter-American Institute
More informationDeposited on 11 January 2019
I hereby transmit the reservations and notifications of Belize for the purposes of the signature of the Multilateral Convention on Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
More informationPROSPECTS AND CHALLENGES FOR THE CARRIBEAN in the context of the New World Order. Amar Bhattacharya Senior Fellow, Brookings Institution
PROSPECTS AND CHALLENGES FOR THE CARRIBEAN in the context of the New World Order Amar Bhattacharya Senior Fellow, Brookings Institution May 2017 0 A New Global Agenda 2015 and 2016 breakthrough years for
More informationInternational Monetary and Financial Committee
International Monetary and Financial Committee Thirty-Fifth Meeting April 22, 2017 IMFC Statement by William Morneau Minister of Finance Canada On behalf of Antigua and Barbuda, The Bahamas, Barbados,
More informationJamaica. October 24, Remarks Dr. Warren Smith WFCP Page 1
Remarks by Dr. W m. Warren Smith President Caribbean Development Bank at the Opening Ceremony of the Sixth Meeting of the World Forum of Catastrophe Programmes Montego Bay Jamaica October 24, 2011 Remarks
More informationGlobal trends and Foreign Direct Investment in Latin America
Global trends and Foreign Direct Investment in Latin America Executive Secretary Santiago, 4 April 2017 Long-term megatrends Geopolitical changes and new global roles for China, Europe and the United States
More information11763/2/18 REV 2 AS/AR/fm 1 ECOMP.2.B
Council of the European Union Brussels, 27 September 2018 (OR. en) 11763/2/18 REV 2 FISC 335 ECOFIN 789 'I/A' ITEM NOTE From: To: Subject: General Secretariat of the Council Permanent Representatives Committee/Council
More informationFINAL CONSULTATION DOCUMENT May CONCEPT NOTE Shaping the InsuResilience Global Partnership
FINAL CONSULTATION DOCUMENT May 2018 CONCEPT NOTE Shaping the InsuResilience Global Partnership 1 Contents Executive Summary... 3 1. The case for the InsuResilience Global Partnership... 5 2. Vision and
More informationFEBRUARY 28, 2018 FEES FOR INTERNATIONAL PAYMENT OPERATIONS SERVICES (NON-RESIDENTS) PODGORICA, MONTENEGRO
FEBRUARY 28, 2018 FEES FOR INTERNATIONAL PAYMENT OPERATIONS SERVICES (NON-RESIDENTS) PODGORICA, MONTENEGRO LEGAL ENTITIES (NON-RESIDENTS) No Type of service Fee 1. Current account maintenance 1.1 Account
More informationResilience and the Economics of Risk. NACo s Resilient Counties Advisory Board February 2016
Resilience and the Economics of Risk NACo s Resilient Counties Advisory Board February 2016 The growing burden of uninsured losses Natural catastrophe losses 1970 2014 (in 2014 USD) 450 400 350 300 Uninsured
More informationKerry Max Senior Economist, Americas Branch, CIDA. Small Island States and a Free Trade Area of the Americas: Challenges and Opportunities
Kerry Max Senior Economist, Americas Branch, CIDA Small Island States and a Free Trade Area of the Americas: Challenges and Opportunities Summary: Trade liberalization and economic integration are powerful
More informationDistribution effects of inflation through banking credit: the case of Argentina
Distribution effects of inflation through banking credit: the case of Argentina Chief Economists` workshop: distribution effects of Central Bank policies Bank of England May 19 th, 2017 Mauro Alessandro
More informationFedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationWorld. Source: IMF, World Economic
The IMF in the Global Economy New Initiatives and Prospects Arnold McIntyre* CCMF 13 th Annual Senior Level Policy Seminar Jamaica, September 4, 2009 *The views expressed herein are those of the author
More informationCARIBBEAN DEVELOPMENT BANK
CARIBBEAN DEVELOPMENT BANK BASIC INFORMATION P.O. Box 408, Wildey, St. Michael Barbados, West Indies Telex: WB 2287 Telefax: (246) 426-7269; (246) 228-9670 Telephone: (246) 431-1600 Internet Address: http://www.caribank.org
More informationFact sheet Paying Taxes 2019 Global and Regional Findings: CENTRAL AMERICA & THE CARIBBEAN
World Bank Group: Indira Chand Phone: +1 202 458 0434 E-mail: ichand@worldbank.org PwC: Sharon O Connor Tel:+1 646 471 2326 E-mail: sharon.m.oconnor@pwc.com Fact sheet Paying Taxes 2019 Global and Regional
More informationImpact of De-Risking in the Caribbean
Impact of De-Risking in the Caribbean G24 Technical Group Meeting Cartagena, Columbia March 3-4, 2016 Prepared by Michelle Durham-Kissoon Trinidad and Tobago 2 Issues Raised At the Caribbean Community
More informationEnterprise Surveys e. Obtaining Finance in Latin America and the Caribbean 1
Enterprise Surveys e Obtaining Finance in Latin America and the Caribbean 1 WORLD BANK GROUP LATIN AMERICA AND THE CARIBBEAN SERIES NOTE NO. 12/13 Basic Definitions Countries surveyed in and how they are
More information13352/1/18 REV 1 AS/AR/fm 1 ECOMP.2.B
Council of the European Union Brussels, 31 October 2018 (OR. en) 13352/1/18 REV 1 FISC 423 ECOFIN 949 'I/A' ITEM NOTE From: To: Subject: General Secretariat of the Council Permanent Representatives Committee/Council
More informationReviewing the evidence: How well does the EDF perform?
Reviewing the evidence: How well does the EDF perform? Mikaela Gavas, ODI, m.gavas@odi.org.uk 31 January 2013 Contents 1. How is the Cotonou Agreement different to other agreements? 2. What are the proposals
More informationDebt Watch - Caribbean
Debt Watch - Caribbean Issue No. 19: July/August 2010 News CDB disburses US$124.5 million in first half of 2010 The Caribbean Development Bank (CDB) disbursed the equivalent of US$124.5 million to its
More informationSCHEDULE OF REVIEWS (DECEMBER 2017)
2016-2020 SCHEDULE OF REVIEWS (DECEMBER 2017) 2016-2021 SCHEDULE OF EOIR REVIEWS 1. At its meeting in Jakarta on 21-22 November 2013, the Global Forum agreed that a new round of peer reviews for the Exchange
More informationINTERNATIONAL MONETARY FUND
INTERNATIONAL MONETARY FUND Offshore Financial Centers Report on the Assessment Program and Proposal for Integration with the Financial Sector Assessment Program Supplementary Information Prepared by the
More informationSTATUS OF CORPORATE GOVERNANCE EFFORTS IN SELECT COUNTRIES OF THE CARIBBEAN REGION
STATUS OF CORPORATE GOVERNANCE EFFORTS IN SELECT COUNTRIES OF THE CARIBBEAN REGION COUNTRIES REGULATORY STRUCTURE (IF ANY) FOR ROLL-OUT OF CORPORATE GOVERNANCE EFFORTS RELEVANT LEGISLATION CURRENT DEVELOPMENTS
More informationAUTOMATIC EXCHANGE OF INFORMATION (AEOI)
AUTOMATIC EXCHANGE OF INFORMATION (AEOI) As the world becomes increasingly globalised, money can be transferred from one jurisdiction to another with ease. While this may help to facilitate trade and boost
More informationBelize FedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationBelize FedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationCommonwealth Regulatory Workshop Caribbean Countries and Global Financial Regulation A Practitioner s Forum Port of Spain, Trinidad and Tobago Friday
Commonwealth Regulatory Workshop Caribbean Countries and Global Financial Regulation A Practitioner s Forum Port of Spain, Trinidad and Tobago Friday 26 th August 2011 1 Transparency and Exchange of Information
More information