The Challenges Of Fiscal Consolidation And Debt Reduction In The Caribbean

Author : Charles Amo Yartey
Publisher : International Monetary Fund
ISBN 13 : 1475536119
Total Pages : 48 pages
Book Rating : 4.19/5 ( download)

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Download or read book The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2017-07-08 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and tackling transfers are the obvious targets to reduce spending. On the revenue side, there is ample room to reduce tax expenditures, eliminate distortions while broadening the tax base. Fiscal consolidation needs to be complemented by a comprehensive debt reduction strategy including tax policy reforms and structural reforms to boost competiveness.

Author : Charles Amo Yartey
Publisher : International Monetary Fund
ISBN 13 : 1484321170
Total Pages : 397 pages
Book Rating : 4.71/5 ( download)

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Download or read book Caribbean Renewal written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2014-05-06 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498342264
Total Pages : 23 pages
Book Rating : 4.61/5 ( download)

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Download or read book Caribbean Small States - Challenges of High Debt and Low Growth written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2013-02-23 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents background on Caribbean small states as context for the main paper, “Macroeconomic Issues in Small States and Implications for Fund Engagement.” It draws on recent analytical work presented at a conference for policy makers in September 2012, in Trinidad and Tobago. Caribbean small states, while sharing many features of other small states (size-related macroeconomic vulnerabilities, lack of economies of scale, and capacity constraints) have specific characteristics which merit attention

Author : Mr.Antonio David
Publisher : International Monetary Fund
ISBN 13 : 1484352785
Total Pages : 67 pages
Book Rating : 4.86/5 ( download)

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Download or read book A New Action-based Dataset of Fiscal Consolidation in Latin America and the Caribbean written by Mr.Antonio David and published by International Monetary Fund. This book was released on 2018-04-26 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new database of fiscal consolidations for 14 Latin American and Caribbean economies during 1989-2016. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and long-term fiscal health and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, central bank reports, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation for these economies

Author : United Nations
Publisher :
ISBN 13 : 9789211220179
Total Pages : 120 pages
Book Rating : 4.73/5 ( download)

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Download or read book Fiscal Panorama of Latin America and the Caribbean 2019 written by United Nations and published by . This book was released on 2019-05-06 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal Panorama of Latin America and the Caribbean, 2019 examines the role of tax policy as a tool for driving progress towards achievement of the Sustainable Development Goals. One way to strengthen collection is to address the challenges of taxing the rapidly growing digital economy. Tax policy can also be used to shift production and consumption patterns to encourage decarbonization of the economy and support improvements in public health. Lastly, the document analyses the constraints on domestic resource mobilization caused by fiscal incentives and how, effectively geared towards investment, these incentives could instead foster sustainable and inclusive development.

Author : Mr.Alfred Schipke
Publisher : International Monetary Fund
ISBN 13 : 1616352655
Total Pages : 546 pages
Book Rating : 4.53/5 ( download)

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Download or read book The Eastern Caribbean Economic and Currency Union written by Mr.Alfred Schipke and published by International Monetary Fund. This book was released on 2013-04-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Eastern Caribbean Economic and Currency Union (OECS/ECCU) is one of four currency unions in the world. As in other parts of the world in the aftermath of the global economic and financial crisis, the region is at a crossroads, facing the major challenges of creating jobs, making growth more inclusive, reforming the banking system, and managing volatility, while grappling with high public debt and persistent low economic growth. Policymakers have the critical task of implementing strong reforms to strengthen the monetary union while also laying the foundation for accelerating growth. This Handbook provides a comprehensive analysis of the key issues in the OECS/ECCU, including its organization and economic and financial sector linkages, and provides policy recommendations to foster economic growth.

Author : Juan Pablo Bohoslavsky
Publisher : Cambridge University Press
ISBN 13 : 1108247288
Total Pages : 310 pages
Book Rating : 4.83/5 ( download)

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Download or read book Sovereign Debt Crises written by Juan Pablo Bohoslavsky and published by Cambridge University Press. This book was released on 2017-11-02 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an obvious need to learn more about why some countries succeed and others fail when dealing with debt crises. Why do some sovereign debtors overcome economic problems very quickly and at minor human rights costs for their people, while others remain trapped by debts for years struggling with overwhelming debt burdens and exacerbating economic problems and human suffering? This book analyzes fourteen unique or singular country cases of sovereign debt problems that differ characteristically from the 'ordinary' debtor countries, and have not yet received enough or proper attention - some regarded as successful, some as unsuccessful in dealing with debt crises. The aim is to contribute to a better understanding of the policy options available to countries struggling with debt problems, or how to resolve a debt overhang while protecting human rights, the Rule of Law and the debtor's economic recovery.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484306805
Total Pages : 33 pages
Book Rating : 4.02/5 ( download)

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Download or read book Kingdom of the Netherlands-Aruba written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2013-08-08 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper analyzes sustaining potential growth in Aruba. As in the other Caribbean countries, there are growing concerns in Aruba about the slowdown in economic growth over the past two decades and the consequent tepid outlook for potential growth. Tackling such concerns requires identifying the underlying factors. This paper presents an overview of Aruba’s economic growth performance since 1990, analyzes factors behind the slowdown, and discusses how potential growth can be sustained. It suggests that Aruba should aim to finance its renewable energy and other future growth initiatives sustainably.

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498335160
Total Pages : 73 pages
Book Rating : 4.64/5 ( download)

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Download or read book Fiscal Rules—Anchoring Expectations for Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2009-12-11 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.

Author : Stephanie Fullerton-Cooper
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1443873675
Total Pages : 420 pages
Book Rating : 4.73/5 ( download)

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Download or read book The Caribbean in a Changing World written by Stephanie Fullerton-Cooper and published by Cambridge Scholars Publishing. This book was released on 2017-06-23 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection is a critical reflection of the evolution of Caribbean countries since the demise of the West Indies Federation in 1962. At this historical juncture, some territories opted for independence while others remained dependent territories. The volume examines Caribbean societies in comparative and general ways, covering aspects of their ongoing development and challenges. It covers such areas as Caribbean integration, the state of human capital and social policy in the region, the education sector, Caribbean economic sustainability, and, significantly, the physical environment of the Caribbean. A central question has always been: should these territories have gone independent or stayed under some British tutelage? The book addresses this question, illustrating that these island states have made considerable progress, especially in the maintenance and deepening of democratic practices.