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Caribbean & Central America - June 2014 (ISSN 1741-4458)
REGION: Fiscal concerns and slow growth lead to downgrades
Back in April, the International Monetary Fund (IMF) warned about “rising challenges” in the Caribbean, particularly for the tourism-dependent economies. This past month has seen that view endorsed by international credit rating agencies, with downgrades for Barbados and Bermuda and warnings of a possible downgrade for The Bahamas because of delays in introducing value added tax (VAT) and a reduction in its proposed rate. On the other hand, the IMF has indicated genuine satisfaction over progress in Jamaica.
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