Market Dynamics Caribbean Insights
Caribbean Business Insights from Issue No. 21 2015 of the fortnightly Market Dynamics Caribbean, the world’s most widely-read and comprehensive Caribbean research and analysis report.
KEY HIGHLIGHTS FROM MARKET DYNAMICS CARIBBEAN ISSUE 21 2015
- ANTIGUA & BARBUDA’s GDP projection was revised down by the IMF and ECLAC to 2.1%
- ARUBA sees heightened Venezuela risk (smuggling, money-laundering and tourism) and opportunity (refinery)
- BAHAMAS estimates Hurricane Joaquin rebuild cost at US $60MM. Meanwhile, IMF cuts 2015 growth forecast to 1.2%
- BARBADOS continues to mull through debt solutions, while IMF forecasts growth of +1% for 2015 and 2016
- BELIZE prepares for November 4 elections, as IMF raises its GDP forecast to 2.2% for 2015
- BERMUDA reports drop in ICT employment and surge in ICT trade deficit
- BRITISH VIRGIN ISLANDS cruise pier landside development’s opening pushed back to December
- CAYMAN ISLANDS reports a 0.9 point rise in unemployment to 5.6%
- CUBA’s economy is forecast by ECLAC to grow +4% this year, while pressures on external account continue to build
- CURAÇAO releases Tourism Master Plan 2015-2020 seeking to create 4,000 jobs and US $200MM in revenues
- DOMINICA resumes imports/exports and most economic activity, while tourism prepares for 174 cruise calls this season
- DOMINICAN REPUBLIC will lead regional economic growth in 2015: forecast at +5.5% (IMF) and +5.6% (ECLAC)
- DUTCH CARIBBEAN reports flights up +8% in Q2 2015
- GRENADA launches debt exchange offer, while growth projection are raised +1.9 points by IMF to 3.4%
- GUADELOUPE reports +3.8% growth in household credit in H1, while growth in household savings slows to all-time lows
- GUYANA will lead regional growth in 2016, according to the IMF at +4.9%
- HAITI’s voters hit the polls again on October 25, while economy continues to slow affected by drought
- JAMAICA’s economic reform program is on track for Sept quarter, as IMF lowers its 2015 growth forecast to +1.1%
- MARTINIQUE reports a sharp rise in business deposits at financial institutions, up +13.6% in H1
- PUERTO RICO’s economic indicators deteriorate: auto sales down (11)%, retail sales down (1)% and outward migration rising to record levels
- ST KITTS AND NEVIS’ economy upgraded by the IMF to 5% for 2015 and 3.5% for 2016
- ST LUCIA’s GDP growth will reach +1.75% this year (IMF) as the country prepares for January Citizenship by Investment launch
- SINT MAARTEN (D) elections could be held on December 8 if decree to dissolve Parliament is quickly signed by the Governor
- SAINT-MARTIN (F) government affirms that call for proposals for Marigot Bay Development will launch this year
- ST VINCENT AND THE GRENADINES’s economic acceleration in 2016 affirmed by IMF with growth scenario of +2.5%
- SURINAME’s Rosebel Gold Mines reduces staff (10)% in light of low gold prices; GDP growth projection downgraded to +1.5% (IMF)
- TRINIDAD & TOBAGO’s budget down YoY on forecast US $45 barrel and US $2.75/mmbtu gas; “real” budget expected in March
- TURKS & CAICOS merchandise imports rose +8.5% in H1 as FDI construction and tourism grow
- US VIRGIN ISLANDS change to public sector retirement age vetoed by Governor, while US $250MM borrowing bill approved
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