[PDF] A Currency Union For The Caribbean eBook

Author : Mr.Rupert Worrell
Publisher : International Monetary Fund
Page : 35 pages
File Size : 37,92 MB
Release : 2003-02-01
Category : Business & Economics
ISBN : 1451845375

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The experiences of Caribbean Economic Community countries show that exchange rate depreciation in these countries is inflationary, and that, while changes in the relative prices of tradables may affect exports, tourism, and imports, nominal exchange rate changes have no predictable effect on those relative prices. Under these circumstances, economic literature indicates that a fixed exchange rate regime is optimal, and Caribbean countries with (quasi-) currency boards have been successful in maintaining durable exchange rate pegs. Commitment to a currency board is a potentially vital step in achieving a currency union for the Caribbean.

Author : Mr.Alfred Schipke
Publisher : International Monetary Fund
Page : 546 pages
File Size : 23,55 MB
Release : 2013-04-10
Category : Business & Economics
ISBN : 1616352655

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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 : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 27 pages
File Size : 46,80 MB
Release : 2024-04-25
Category : Business & Economics
ISBN :

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Eastern Caribbean Currency Union: Selected Issues

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 43 pages
File Size : 49,11 MB
Release : 2012-06-08
Category : Business & Economics
ISBN : 1475504101

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The Eastern Caribbean Currency Union (ECCU) has made significant progress in improving the quality and quantity of the macroeconomic statistics it produces and disseminates to the public. The Selected Issues Paper discusses prospects and challenges for credit unions in the ECCU. It reviews the current state of macroeconomic statistics, outlines progress that has been made, and identifies outstanding challenges. It also describes technical assistance to the region and presents the challenges for the production of macroeconomic statistics in small island states.

Author : International Monetary Fund
Publisher :
Page : 65 pages
File Size : 10,46 MB
Release : 2000
Category : Eastern Caribbean Central Bank
ISBN :

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Financial system, money, capital market, economic developments, output, employment, prices, tourism, public finances, banking, monetary issues, fiscal policy.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 67 pages
File Size : 26,38 MB
Release : 2019-02-22
Category : Business & Economics
ISBN : 1498300162

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This Selected Issues paper presents a quantification of the long-term benefits of ex-ante resilient investment and insurance needs against natural disasters (ND) in Eastern Caribbean Currency Union (ECCU). Cost-benefit analysis of resilient investment based on a dynamic stochastic general equilibrium model tailored to small states and calibrated to all ECCU economies is also discussed in the paper. The model’s aggregate production function illustrates the interaction among the participating sectors and their contribution to output, ultimately informing the role of resilient investment. The study also quantifies government insurance coverage needs and costs using an empirical stochastic model that simulates NDs fiscal costs. The insurance needs are framed within the World Bank insurance layering framework. The results in this paper underscore the importance of a shift from ex-post recovery to a focus on ex-ante resilience building. Ex-ante resilient investment and insurance are key to the welfare and financial sustainability of the ECCU, given high intensity and recurrence of NDs.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 82 pages
File Size : 25,29 MB
Release : 2019-02-22
Category : Business & Economics
ISBN : 1498300065

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This 2018 discussion on common policies of the Eastern Caribbean Currency Union (ECCU) highlights that the member countries are gradually recovering following the catastrophic impact of Hurricanes Irma and Maria in 2017. Conditions remain favorable to growth, however, risks are increasing. The fiscal balance for the region as a whole worsened in 2017, reflecting lower inflows from citizenship-by-investment programs and higher reconstruction and current spending. The IMF team made several policy recommendations including shifting focus from the current emphasis on recovery from natural disasters to building ex-ante resilience. The report also recommends intensifying decisive and timely actions to resolve weaknesses in the financial sector, including longstanding problems in the banking sector and emerging risks in the non-banking sector. The authorities expressed commitment to the acceleration of key reforms to upgrade and strengthen the financial sector regional oversight framework. In addition to fiscal consolidation, injecting new vigor into the structural policy agenda will help enhance competitiveness and make growth more inclusive.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 119 pages
File Size : 13,66 MB
Release : 2016-10-25
Category : Business & Economics
ISBN : 1475546378

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The regional recovery is gaining ground, supported by continued low oil prices, the return to pre-2007 levels of tourism arrivals, and buoyant citizenship-by-investment receipts. Three failed banks have been resolved with no spillovers to the rest of the region and authorities have demonstrated improved fiscal management. Risks in the short run appear to be balanced but the region still faces many vulnerabilities that jeopardize the medium-term outlook. This year’s discussions took stock of the progress made and the policies needed to address key vulnerabilities related to the weak banking system, high debt, susceptibility to natural disasters, and competitiveness.