IDB Says Caribbean Firms Need Help

Caribbean-Businesses IDB study finds that capital levels at companies are still 20 per cent lower than they were before the pandemic began.

A new study by the Center for Global Development (CGD) and the Inter-American Development Bank (IDB) finds that many companies in the Caribbean survived the pandemic by slashing investment. However, this decline now threatens to constrain the region's economic recovery.

To reverse the situation and prevent it from leading to a type of "economic long COVID," where a weak private sector fails to create jobs and stimulate economic growth, governments in the region are being encouraged to actively pursue a series of policies to help companies boost investment and hire new employees.

These are among the key findings of the new report which examined the balance sheets from a large number of companies across the region and discovered that, despite an economic recovery in 2020 and 2021, capital levels at companies are still 20 per cent lower than they were before the pandemic began.

"While it is good news that relatively few larger firms failed, the drop in their productive capital implies significant scarring and threatens the region's economic growth," said Andrew Powell, principal advisor of the Research Department at the IDB.

Continue reading
  16750 Hits

Subscribe

Latest Bloggers

Alethia Campbell
11 posts
Alethia Campbell is a second-year Integrated Ma...
Lou-Anique Hodges
10 posts
Lou-Anique Hodges is a 2nd year Integrated Mark...
Lee-Anna Webster
6 posts
Lee-Anna Webster has not set their biography yet
Kristen Francis
5 posts
Kristen Francis has not set their biography yet
Mark Purai
10 posts
Mark Purai has not set their biography yet

Calendar

Wait a minute, while we are rendering the calendar

Random Post

Theo Chambers
19 July 2020
Social Media
Twitter gave an update late on Friday on its investigation into the highly visible hack of dozens of verified accounts on Wednesday. Twitter said 130 accounts were targeted, of which 45 had their pass...
Sharon Parris Chambers
29 January 2022
Travel & Tourism
KINGSTON, Jamaica; January 28, 2021:  Tourism Minister, Hon. Edmund Bartlett, is encouraging members of the Diaspora to invest in the local tourism sector, which continues to drive Jamaica's...
Sharon Parris Chambers
10 December 2020
Travel & Tourism
Montego Bay, Jamaica. December 09, 2020. Renowned Quantum Transformation Psychologist, Dr Leahcim Semaj, will on December 13, 2020 at 1:00 p.m. close out the last quarter of the year’s programming for...
Sharon Parris Chambers
13 January 2023
Travel & Tourism
Social Media
Kingston, 12 January 2023 – “I know the need and I want to ensure that it’s done,” declared the Minister of Culture, Gender, Entertainment and Sport, the Honourable Olivia Grange, as her Ministry took...
Britany Forsythe
19 January 2021
Personal Development
2020 is an unprecedented year to say the least, from the near World War III nearly started to the year that saw that earth’s lung, the Amazon experience a horrific wildfire. Nothing however could...
Britany Forsythe
10 December 2020
Travel & Tourism
KINGSTON, Jamaica; December 09, 2020: Tourism Minister, Edmund Bartlett has been selected to chair a high-level Organization of American States (OAS) Working Group, which has been charged with th...
Sharon Parris Chambers
05 August 2022
Travel & Tourism
The Jah Jah Nyahbinghi Initiative and Conference is being held in collaboration with Mt Kailash Rejuvenation. The conference theme is Justice and Healing or Justice and Heaping (Jah Jah N I). The...
Sharon Parris Chambers
16 September 2021
Travel & Tourism
Paris, September 15, 2021. September being a good time to speak about education, the State of the African Diaspora (SOAD) is pleased to announce that the SOAD Network of Pan-African Schools is now in ...
Sharon Parris Chambers
08 January 2021
Travel & Tourism
As I confront the sadness of the loss, I recognize the great memories and contribution he has made to me, and my journey in Community Tourism. I met Butch upon his entry into the tourism industry and ...
Social Media
SOAD-Emergency Response System, Panama, March 25, 2022. The State of the African Diaspora (SOAD) Emergency Response System (ERS), has answered the call to rescue and evacuate African students and thei...
Travel & Tourism
KINGSTON, Jamaica; July 10, 2020: Minister of Tourism, Hon Edmund Bartlett has announced that over $J2 Billion in funding will be made available for Small and Medium Tourism Enterprises (SMTEs). The m...
Travel & Tourism
Business
Germany has agreed to return to Nigeria priceless artefacts that were stolen during the colonisation of Africa. British troops looted thousands of artworks known as the Benin Bronzes from the Kingdom ...
Sharon Parris Chambers
11 August 2020
Travel & Tourism
As we all know, the travel world has changed considerably over the course of the past five months. Our experience is no different. Having traveled to Mexico in mid-June, visiting 13 resorts in seven d...
Diana McIntyre Pike
04 October 2020
Travel & Tourism
Network/Villages as Businesses Community Tourism and Community Development – Training Project Rationale Tourism is a continuing growth industry with the potential to offer communities of all shapes an...
Lee-Anna Webster
23 November 2021
Financial & Fintech
Business
President of the Democratic Republic of the Congo, Félix Tshisekedi has committed to contesting the deforestation of the Congo basin rainforest. The Congo basin rainforest is second largest in the wor...
Sharon Parris Chambers
07 October 2022
Travel & Tourism
October 5, 2022. Kingston, Jamaica, W.I. Herbology Meets Rootsology - SAVE SOIL JAMAICA is a Jamaican initiative comprised of four core partners and concentric circles of Affiliates across the Island....
Travel & Tourism
                                                        &nbs...
Travel & Tourism
Montego Bay, Jamaica. (April 23, 2021) Dub poet extraordinaire, Cherry Natural (AKA Marcia Wedderburn) to drop new single from her latest Album, entitled “Spiritual Mastery” and Elder NswNebKaRa to sp...
Sharon Parris Chambers
08 January 2021
Travel & Tourism
KINGSTON, Jamaica; January 05, 2021:  “Butch was truly an icon and innovator, philanthropist and perhaps the greatest marketer tourism has ever seen. Sandals is indeed the largest ...
Kristen Francis
18 November 2021
Social Media
Business
There has been a growing interest in short videos, which has been adopted by almost every social media platform. YouTube has started sharing a regular “Shorts Report” to provide updates on what’s tren...
Theo Chambers
03 April 2021
Travel & Tourism
Source - The Washington Post The Eastern Caribbean has created its own form of digital currency meant to help speed transactions and serve people without bank accounts. The Eastern Caribbean Central B...
Britany Forsythe
03 December 2020
Travel & Tourism
Business
There are 24 hours in a day, and what you accomplish in a day is based on how effectively you can manage your time. You do not need more hours, what you need are strategies and tips to effectively and...
Health & Wellness
St Ann’s Bay, St. Ann, Jamaica. July 16, 2020. Jamaica is poised to begin recovering some of its lost revenue from tourism as it enters its second stage of re-opening its borders to the international ...
Travel & Tourism
KINGSTON, Jamaica; July 28, 2020:  Tourism Minister Hon. Edmund Bartlett says Small and Medium Tourism Enterprises (SMTEs), have a key role to play in reviving the economy, in the aftermath of th...