- Simon Cueva, Stephen Tokarick, Erik Lundback, Janet Stotsky, and Samuel Itam
- Published Date:
- December 2000
© 2000 International Monetary Fund
Production: IMF Graphics Section
Figures: Theodore F. Peters, Jr.
Typesetting: Alicia Etchebarne-Bourdin
Developments and challenges in the Caribbean region/by Samuel Itam… [et al.].—Washington, D.C: International Monetary Fund, 2000.
p. cm.—(Occasional paper, 0251-6365; no. 201).
1. Caribbean Area—Economic conditions. 2. Monetary policy—Caribbean Area. 3. Fiscal policy—Caribbean Area. 4. Foreign exchange—Caribbean Area. 5. Caribbean Area—Commerce. I. Itam, Samuel. II. International Monetary Fund. III. Occasional paper (International Monetary Fund); no. 201.
(US$ 17.50 to full-time faculty members and students at universities and colleges)
Please send orders to:
International Monetary Fund, Publication Services
700 19th Street, N.W., Washington, D.C. 20431, U.S.A.
Tel.: (202) 623-7430 Telefax: (202) 623-7201
The following symbols have been used throughout this paper:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist:
– between years or months (e.g., 1998–99 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g., 1998/99) to indicate a fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.
This occasional paper originated as part of a strategy to enhance policy dialogue between the Caribbean countries and the IMF. It was intended to provide background information for the Article IV consultation discussions of the independent states that are full members of the Caribbean Community (CARICOM), namely, Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
The authors would like to thank colleagues in the Western Hemisphere Department of the IMF for helpful comments on previous drafts and to express gratitude to David Goldsbrough, Ewart Williams, and Frits van Beek for their encouragement and support. They are also grateful for the editing by Esha Ray of the External Relations Department; the processing of the original text, tables, and other materials by Joan Hewitt, Hildi Wicker, and Joan McLeod-Tillman; and the research assistance by Thomas Duffy, Jorge Shepherd, and Ricardo Davico. The views expressed are the sole responsibility of the authors and do not necessarily reflect those of the IMF staff, Executive Directors, or the authorities of the CARICOM countries.
List of Abbreviations
African, Caribbean, and Pacific countries
Caribbean Free Trade Association
Caribbean Basin Initiative
Common External Tariff
Caribbean Single Market and Economy
Bank for International Settlements
Eastern Caribbean Central Bank
Financial Stability Forum
gross domestic product
Heavily Indebted Poor Countries
North American Free Trade Agreement
Organization for Economic Cooperation and Development
Organization of Eastern Caribbean States
World Trade Organization