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Connel Fullenkamp, Mr. Thomas F. Cosimano, Michael T. Gapen, Mr. Ralph Chami, Mr. Peter J Montiel, and Mr. Adolfo Barajas

Abstract

Immigrant remittances are truly a force to be reckoned with in the global economy. These private, unrequited transfers of money from migrants to the family members they leave behind, often sent a few hundred dollars at a time, nonetheless add up to billions of dollars annually: US$114 billion in 2003, the last year for which complete data are available. This figure includes only remittances sent through official, measurable channels, and much more is believed to flow through informal channels. Consequently, remittances represent one of the largest international flows of financial resources.

Mr. Simon Cueva, Mr. Stephen Tokarick, Mr. Erik J. Lundback, Ms. Janet Gale Stotsky, and Mr. Samuel P. Itam

Abstract

With few exceptions, countries in the Caribbean region have performed reasonably well in recent years. They will, however, need to accelerate policy actions in a number of areas to address he challenges they are likely to face in the near future.

Mr. Simon Cueva, Mr. Stephen Tokarick, Mr. Erik J. Lundback, Ms. Janet Gale Stotsky, and Mr. Samuel P. Itam

Abstract

The economic performance of most of the countries in the Caribbean region has been broadly satisfactory in recent years, but insufficiently robust to substantially reduce unemployment. In the five-year period ended 1998, real GDP growth in the region was somewhat higher than in the major trading partner countries, inflation declined, and the fiscal and external positions improved. Also, progress was made toward trade liberalization.