The Latin America Digital Beat(LADB) is the University of New Mexico's premier English language Latin America news service. Established as a unit of the Latin American and Iberian Institute in 1986, LADB has had an Internet presence since 1996. LADB is located on the UNM campus in Albuquerque, New Mexico.
Tuesday, May 6, 2014
Possible Role Reversals as Caribbean Economies Face Slow Growth
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Article from NotiCen, May 1
The Caribbean economy grew only 1.3% in 2013, according to the UN Economic Commission for Latin America and the Caribbean (ECLAC). This rate is half that of Latin America, and the 2014 forecast shows a marginal improvement to 2.1%. As a result, many Caribbean governments are pursuing public sector cuts to stave off high debts and declining revenues, whether from sluggish tourism or lower global commodity prices. In December 2013, Barbados announced the dismissal of 3,000 government workers in order to correct a high debt ratio. The layoffs began in March, along with salary cuts for remaining public sector employees. Also in late March, Jamaica passed its third International Monetary Fund (IMF) test in order to receive further disbursements from the multilateral organization.