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Savings in the Caribbean Printed from https://ideas.repec.org/p/ecr/col095/27351.html My bibliography Save this paper - Author & abstract - Download - 5 Citations - Related works & more - Corrections ## Author Listed: - - ## Abstract No abstract is available for this item. ## Suggested Citation Handle: RePEc:ecr:col095:27351 Note: Includes bibliography as HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON ## Download full text from publisher File URL: http://repositorio.cepal.org/handle/11362/27351Download Restriction: no ---><--- ## Citations Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item. as HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON Cited by: 1. -, 1991. " Savings in the Caribbean," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 27351, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL). 2. Erik Hurst & Ming Ching Luoh & Frank P. Stafford, 1998. " The Wealth Dynamics of American Families, 1984-94," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 267-338. 3. -, 1996. " Strengthening development: the interplay of macro- and microeconomics," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 2148 edited by Cepal. 4. David I. Laibson & Andrea Repetto & Jeremy Tobacman, 1998. " Self-Control and Saving for Retirement," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 91-196. 5. repec:ecr:col037:5425 is not listed on IDEAS 6. Jan Inge Jenssen & Geir Jørgensen, 2004. " How Do Corporate Champions Promote Innovations?," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 63-86. ## More about this item ### Statistics Access and download statistics ## Corrections All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecr:col095:27351. See general information about how to correct material in RePEc. If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about. We have no bibliographic references for this item. You can help adding them by using this form. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation. For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Biblioteca CEPAL (email available below). General contact details of provider: https://edirc.repec.org/data/eclaccl.html. Please note that corrections may take a couple of weeks to filter through the various RePEc services. ### More services and features #### MyIDEAS Follow serials, authors, keywords & more #### Author registration Public profiles for Economics researchers #### Rankings Various research rankings in Economics #### RePEc Genealogy Who was a student of whom, using RePEc #### RePEc Biblio Curated articles & papers on economics topics #### MPRA Upload your paper to be listed on RePEc and IDEAS #### New papers by email Subscribe to new additions to RePEc #### EconAcademics Blog aggregator for economics research #### Plagiarism Cases of plagiarism in Economics ### About RePEc #### RePEc home Initiative for open bibliographies in Economics #### Blog #### Help/FAQ Questions about IDEAS and RePEc #### RePEc team #### Participating archives Publishers indexing in RePEc #### Privacy statement ### Help us #### Corrections Found an error or omission? #### Volunteers Opportunities to help RePEc #### Get papers listed Have your research listed on RePEc #### Open a RePEc archive Have your institution's/publisher's output listed on RePEc #### Get RePEc data Use data assembled by RePEc IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.

2 0 1 A Comparison of Saving Rates: Microdata Evidence from Seventeen Latin American and Caribbean Countries ABSTRACT Using microdata on expenditure and income for seventeen Latin American and Caribbean countries, this paper presents stylized facts on saving behavior by age, education, income, and place of residence. Counterfactual saving rates are computed by imposing the saving behavior, the population distribution, or the income distribution of two benchmark economies (the United States and Korea). The results suggest that the difference in national saving rates between Latin America and Caribbean and the benchmark economies can mainly be attributed to differences in saving behavior of the population and, to a lesser extent, to differences in the distribution of the population by education levels. Other demographic or income distribution differences are not quantitatively important as explanations of saving rates. JEL classification: C81, D12, D14, D91, E21 Keywords: Saving rates, Latin America NÉSTOR GANDELMAN Universidad ORT Uruguay ACKNOWLEDGMENTS This paper is the end product of research conducted under the InterAmerican Development Bank’s Latin American and Caribbean Research Network project Domestic Savings in Latin America and the Caribbean, which explored the low level of domestic savings in Latin America and the Caribbean, the poor financial intermediation of that savings, and its inefficient allocation. Presented here are the results of one of the eight research projects that made up this study. The paper benefited from comments from Eduardo Cavallo and Verónica Frisancho. I wish to thank Braulio Britos for his excellent research assistance. I am indebted to Diether Beuermann, Javier Beverinotti, Carlos Gustavo Machicado, Marcelo Pérez, Eduardo Pontual Ribeiro, Rocío Portilla, José David Sierra, Sung Ju Song, and Jorge Tovar for their help in gaining access to the databases used in this paper. A ccording to the World Development Indicators (WDI), gross national savings in Latin America as a percentage of gross domestic product (GDP) was 20 percent in 2012. This figure is well below East Asia and Pacific (40 percent) and South Asia (30 percent), but about the same as other 202 E C O N O M I A , Spring 2016 regions like Europe and Central Asia (17 percent) and sub-Saharan Africa (17 percent) and above the United States (12 percent). The comparison between these regions suggests that there is not an obvious relationship among national savings, growth, and development. This might be due to significant heterogeneity within regions. In particular, Latin America and the Caribbean is not a homogeneous entity in many dimensions, including saving rates. In 2012, the saving rate was as large as 26 percent in Bolivia and as low as 9 percent in neighboring Paraguay. National savings are themselves aggregates of heterogeneous households’ (or individuals’) personal savings decisions. On theoretical grounds, life-cycle models imply that individuals’ savings behavior differs by age.1 Alternatively, the permanent income hypothesis suggests that consumption (and therefore savings) will differ among individuals whose determinants of permanent income are different.2 Empirically, Carroll, Rhee, and Rhee test for cultural effects on saving behavior in the United States.3 Differences in saving rates among countries can be disaggregated into the following three categories: differences in saving decisions between similar individuals living in different countries (for example, young people being able to spend above their income level in countries where financial restrictions are less binding or differences in adults’ savings due to alternative national social security systems); differences in the population distribution of the relevant groups (for example, differences in the proportion of individuals yet to join the workforce or difference in education levels); and differences in the income share of groups (for example, countries with income concentrated in individuals with low saving rates). The goal of this paper is to address the importance of these differences, with particular interest in the first cause (differences in behavior among population groups). In particular, --- 📄 Full source: http://eprints.lse.ac.uk/123245/1/63fdb41d3e3c9.pdf

# Caribbean Passports, Real Returns: Tax, Real Estate, and Mobility Arbitrage for the Ultra-Wealthy ## Executive Summary The true value of Caribbean Citizenship by Investment (CBI) programs extends far beyond visa-free travel. For the ultra-wealthy, these passports serve as strategic instruments for optimizing tax exposure, acquiring yield-generating real estate, compressing relocation timelines, and securing multi-generational family optionality. ## Historical Context & Geopolitical Landscape - **Origins:** St. Kitts and Nevis launched the world’s first CBI framework in 1984. Antigua and Barbuda, Dominica, Grenada, and St. Lucia have since followed suit. - **Economic Impact:** These five programs channel billions into regional public finances, infrastructure, and tourism development. - **Geopolitical Pressure:** The EU and US have pushed for stricter due diligence, harmonized rules, and higher thresholds. Caribbean governments have responded by raising minimum investments (often **>$200,000**), increasing background screening, and adopting regional coordination. - **Misconception:** The assumption that passport value evaporates if Schengen access is curtailed is flawed. The "deeper alpha lies in tax, ownership, and timing." ## Tax Architecture Advantages Caribbean jurisdictions offer clean, low-friction tax regimes that simplify cross-border planning and intergenerational wealth transfers: - **St. Kitts and Nevis:** No personal income, wealth, inheritance, or capital gains taxes. - **Antigua and Barbuda:** No tax on personal income, capital gains, or dividends for individuals. Corporate tax applies only to locally generated income. - **Dominica:** Progressive personal income tax, but **no tax** on dividends, capital gains, or inheritances. - **Grenada and St. Lucia:** Primarily tax domestic personal income; foreign-sourced income is excluded. *Key Insight: "Even if you never move full-time to the Caribbean, the mere fact that your citizenship is anchored in a low-friction tax system can alter how you structure holding companies, trusts, and family offices."* ## Real Estate: Yield and Tax-Free Upside CBI-linked real estate is a genuine asset class buoyed by tourism growth and international capital, not just a "compliance purchase." **Rental Yield Snapshots:** - **St. Kitts and Nevis:** >5% (historically mid-single digits for CBI properties) - **Dominica:** 4–5% - **Grenada:** ~4.3% - **Antigua and Barbuda:** ~4% - **St. Lucia:** ~3.5% **Financial Benefits:** - Low property taxes (a fraction of a percent of assessed value). - Absence of capital gains tax in certain jurisdictions. - Rental income and appreciation potential without immediate tax erosion. ## Time Arbitrage - **Processing Speed:** Well-structured CBI applications move from submission to approval in roughly **6 to 8 months**. - **Strategic Advantage:** Traditional migration to the US, Canada, or EU takes years and faces policy uncertainty. Caribbean CBI allows families and executives to compress decision cycles and acquire a "Plan B" within a single fiscal year. ## Mobility Beyond Schengen While Western access is important, Caribbean passports unlock visa-free or visa-on-arrival access to roughly **140 destinations** across Asia, the Middle East, Africa, and Latin America. This facilitates frictionless business operations in emerging global hubs (Singapore, UAE, Kenya, Brazil). ## Multi-Generational Family Optionality - **Inclusivity:** Programs allow bundling spouses, dependent children, unmarried siblings, and dependent parents into a single application, with pathways for future descendants. - **Lifestyle & Infrastructure:** - *Antigua & Barbuda:* International Baccalaureate schools, healthcare investments. - *Dominica:* High safety ratings, wellness-oriented environment. - *Grenada:* Lower climate-risk profile (southern edge of hurricane belt); home to St. George’s University (international medical/vet school). - *St. Lucia:* Expanding digital infrastructure and remote-work policies. ## Conclusion: The Quiet Repricing of Caribbean Citizenship Rising minimums and tightening standards are re-rating Caribbean citizenship as a **premium, curated asset**. **The Core Value Proposition:** 1. A passport anchored in a low-friction tax jurisdiction. 2. A credible claim on a yield-generating real estate market. 3. Faster, flexible mobility across a multipolar world. 4. A multi-generational safety net. > *"Visa-free access to Europe and North America is, in that light, not the product. It’s a bonus. The product is resilience."*

Crowding In Diaspora Capital To Grow The Caribbean BRIDGETOWN, Barbados – At the Eastern Caribbean Central Bank’s 10th Growth and Resilience Dialogue I had a riverside chat with Dr. David Lowe, Managing Director of the Development Bank of Jamaica, focused on how to pool capital from the Caribbean Diaspora to invest back home and how the Organization of Eastern Caribbean States (OECS) could approach it. As someone who has lived in the USA for half my life, has moved back to Jamaica to work on more than one occasion and served as the first Future Leaders Representative for the USA on the Jamaica Diaspora Advisory Board, I am intimately familiar with the problems faced by us in the diaspora wishing to invest back home. I was first asked in the mid-2010s how to get people like me to invest back home. No one pursued the solution that I presented at the Jamaica Stock Exchange Conference: A pooled investment vehicle targeting the average person of Jamaican heritage instead of a fund only open to the wealthy diaspora. An inclusive approach instead of an exclusive one. Dr. David Lowe and David Mullings ## Government-backed Diaspora Bonds My focus since 2018 has been to figure out how to pool capital from the Caribbean diaspora to invest in impactful opportunities back home that contribute to economic growth and generate a profit. I was tired of waiting on other people to solve my problem and had been repeatedly told at town halls that government-backed diaspora bonds similar to Israel’s approach were not the appropriate solution because of the trust deficit between the diaspora and their home countries in the Caribbean region due to the perception, and evidence in too many cases, of corruption. I firmly believe that the democratization of access to investments thanks to mutual funds, index funds and exchange traded funds (ETFs) has been transformational for everyday investors. Therefore,I believe that the person with $100 to invest deserves the same access as the person with $1 million. Some people do not share that belief or think that everyday investors are a pain to deal with because of the financial literacy gap. I say that we should educate them like what I had to do at Jamaica National Building Society. A more financially literate society is a good thing. In fact, we should teach the basics about money in high school! I became passionate about solving this specific problem because we Caribbean people abroad have always carried home in our hearts and in our wallets. We send support for schools, do medical missions, help our families, and show up when it matters. But too often, we have not had the chance to own part of the economic future we help to sustain. The Caribbean needs to move from depending heavily on FOREIGN direct investment, FDI, to DIASPORA direct investment, DDI. ## Financial Sector Work Experience My financial sector work experience spans working for a building society designing savings and mortgage products for the Jamaican Diaspora, working in private equity, at a hedge fund and overseeing digital marketing for a large US mutual fund. The alternative funds were limited to 100 investors and could only raise from the wealthy 1% and large institutions. The majority of us who live overseas are not in the 1% and would not be eligible to invest in such a fund managed by an investment manager. In November 2023, Michael Lee-Chin asked me a simple question “What if Berkshire Hathaway had owned Blackstone?” to which I replied “Before Blackstone sold their stake in BlackRock” and now I had a clear recipe from someone who had built their wealth in the Canadian mutual fund industry, the mom and pop investors who I also felt should be included in the growth of the Caribbean (Blackstone is the largest manager of private equity funds in the world and BlackRock is one of the largest managers of public equity funds, though they are now dipping into each other’s markets in recent times). --- 📄 Full source: https://sflcn.com/crowding-in-diaspora-capital-to-grow-the-caribbean/

# How Caribbean Families in Florida Grow Generational Wealth **Source:** Caribbean National Weekly | **Published:** April 14, 2026 --- ## Overview Many Caribbean families in South Florida earn well yet struggle to convert income into lasting generational wealth. This article outlines actionable strategies for shifting from short-term survival to long-term financial legacy. --- ## Key Strategies ### 1. Start with a Clear Wealth Blueprint - Define what wealth means for your family: owning property in Miami, funding education, or supporting relatives back home - Set specific goals (e.g., reaching a **750 credit score** or owning **two income properties**) - **Key Fact:** US Federal Reserve data shows families with **written financial plans** accumulate significantly more wealth over time than those without one ### 2. Build Strong US Credit and Cash Flow Habits - Pay bills on time - Keep credit utilization **below 30%** - Avoid unnecessary debt - **Key Stat:** Average US credit score reached **715 in 2024** (Experian), yet many immigrant households fall below this due to thin credit history - Strong credit unlocks better mortgage rates, business funding, and investment opportunities in Florida's competitive market ### 3. Diversify into Smarter Investments - Move beyond property ownership alone for improved long-term portfolio growth and flexibility - **Abacus** highlighted as an alternative asset management company focused on: - Longevity-based financial strategies - Life settlement investments - Data and actuarial insights for structuring long-term investment solutions - Appeals to individuals thinking in terms of long-term planning beyond traditional asset allocations ### 4. Protect Wealth Through Estate and Cross-Border Planning - Essential for families supporting relatives in **Jamaica, Haiti, or Trinidad** - Requires estate planning reflecting international scope: **wills, trusts, and clear beneficiary blueprints** - **Key Finding:** 2025 Caring Resource Center report found a **declining number of US adults have a will**, putting family assets at risk - Proper planning ensures smooth wealth transfer to heirs and avoids costly legal complications ### 5. Teach the Next Generation Early - Talk openly about money; involve children in basic financial decisions - Encourage saving and investing habits early - **Key Insight:** Cambridge University studies show **money habits form as early as age seven** - Children who understand credit, investing, and ownership early are far more likely to preserve and grow family wealth --- ## Key Takeaway > "You don't need perfect conditions to begin; you need consistent action. Start small, stay disciplined, and make decisions that your future family will thank you for." --- ## Related Caribbean News Headlines - **Caribbean countries** closer to accessing **US$250M climate loss and damage fund** - **Bermuda** earns positive outlook from KBRA amid economic gains - **Tax revenues** increased in more than half of Latin America and the Caribbean in 2024 - **Saint Lucia** hosts 2026 Caribbean Investment Summit (CIS26), May 6-9 - **Guyana-Brazil trade** surges from ~US$58M (2020) to **US$1 billion** (2026) - **Jamaican diaspora** urged to shift from remittances to strategic investment - **IDB and CDB** partner to retrofit Caribbean homes against climate hazards - **CDB** appoints Gillian Charles-Gollop as Vice President, Corporate Services (May 1, 2026) - **KFC Jamaica** contributes JMD$1 million to Child Month, focusing on mental health - **Rise of solopreneurship** highlighted as one-person operations increasingly viable

# Industrial Policy and Post-COVID19 Economic Transformation in CARICOM **Source:** Shridath Ramphal Centre Trading Thoughts – February 2023, by Alicia Nicholls (SRC, UWI Cave Hill) --- ## Key Context - In May 2020, Joel K. Richards argued COVID-19 gave CARICOM an opportunity to "reclaim" industrial policy - Three years later, CARICOM is taking concrete steps toward a community industrial policy as mandated by the **Revised Treaty of Chaguaramas (RTC)** - At the **33rd Intersessional Meeting** (Belize, March 1-2, 2022), CARICOM Heads of Government recognized "the urgent need" for a community industrial policy strategy - **Suriname** given lead responsibility for industrial policy in CARICOM quasi-cabinet - **44th Regular Heads of Government Conference** (The Bahamas): CSME consolidation dominated the agenda - CARICOM entering its **50th year** of existence ## Industrial Policy: Global Context - Industrial policy fell out of favour in 1980s-90s but is back in vogue post-COVID-19 - **UNCTAD (2018) definition:** "a package of interactive strategies and measures aimed at (i) building enabling industrial systems (infrastructure, financial systems) and productive capacity (including assets, technology and skills), and (ii) supporting the development of internal and export markets" - **UNCTAD World Investment Report 2018:** 101 developing and developed economies adopted formal industrial policies in the preceding decade - Advanced economies now adopting industrial policy again (e.g., **US CHIPS and Science Act 2022** for semiconductors; **EU Industrial Strategy** for green/digital transition) - Historically, CARICOM countries drew on **Sir W. Arthur Lewis'** industrialization-by-investment model (FDI via fiscal incentives) - Modern industrial policy extends beyond growth/jobs to include **sustainability, SDGs, digital transformation, and global value chain integration** - Must operate within **modern global trade rules and financial regulations** that didn't exist when advanced economies were developing ## Industrial Policy in the RTC - RTC (adopted early 2000s) includes industrial policy under **Chapter Four** (sectoral development) - RTC mandates the goal of community industrial policy should be: > "market-led, internationally competitive and sustainable production of goods and services for the promotion of the Region's economic and social development" - Industrialization encompasses **both manufacturing and services industries** - RTC framers emphasized **sustainability** — aligned with **SDG 8** (decent work/economic growth) and **SDG 9** (industry, innovation, infrastructure) - **Ministerial Task Force on Industrial Policy** to be chaired by Suriname; technical working group mandated to develop and implement policy ### RTC's Nine Objectives for Community Industrial Policy: 1. Cross-border employment of resources 2. Linkages among economic sectors 3. Promotion of regional economic enterprises 4. Establishment of a viable MSME sector 5. Enhanced and diversified production of goods and services 6. Enhanced production on an environmentally sustainable basis 7. Balanced economic and social development, bearing in mind needs of disadvantaged countries, regions, and sectors [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.caricomstats.org/E-CISTAR/2023/02/24/industrial-policy-and-post-covid19-economic-transformation-in-caricom/

# Caribbean Development Dynamics 2025 | OECD Summary **Publication Date:** 13 December 2024 **Publisher:** OECD Development Centre & Inter-American Development Bank (IDB) **Type:** Joint flagship report (inaugural edition) **Programme:** IDB's ONE Caribbean programme --- ## Overview A new joint report advocating a shift in perspective on Caribbean development—focusing on **opportunities** rather than just challenges, using fresh comparable data. It adopts a **multi-dimensional approach** to analyzing key development trends, providing policy recommendations while acknowledging regional diversity as a unique asset. --- ## Five Key Pillars ### 1. Climate Resilience & Natural Endowments - **Climate vulnerability:** Caribbean is among world's most climate-vulnerable regions despite minimal contribution to global greenhouse gas emissions - **Extreme weather events:** Increased **85%** in 2001-20 vs. 1980-2000 - **Disaster costs:** Annual average of **2.13% of regional GDP** (1980-2020), with disproportionate impacts on vulnerable populations - **Biodiversity assets:** - Hosts ~**10% of world's coral reefs** - ~**45% of fish species** - ~**25% of coral species** - **Opportunity areas:** Renewable energy, sustainable tourism/transport, blue economy, circular economy, nature-based solutions - **Policy needs:** Ambitious adaptation measures, resilient infrastructure, strong early warning systems ### 2. Social Inclusion & Social Protection **Progress (since 1990):** - Life expectancy: **72.6 years** (up 4.2 years) - Education: **14.1 years** (up 2.9 years) - Mean GNI per capita: **$17,280** constant 2021 international USD (up 66%) **Persistent challenges:** - **~1 in 4 people** are poor on average - **37%** live in moderate or severe food insecurity (vs. 33% in Latin America) - **Informality:** 47.2% of workers informal (vs. 57% in Latin America); 34.1% live in all-informal households - **Gender gaps:** Gender-based violence, unequal pay, limited access to education/healthcare - **Women in parliament:** 23.7% (vs. 31.7% in Latin America) [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.oecd.org/en/publications/caribbean-development-dynamics-2024_a8e79405-en.html

# Part One: Industrial Policy – Revised Treaty of Chaguaramas ## Community Industrial Policy: Goal and Objectives The overarching goal of the Community Industrial Policy is defined as: > "market-led, internationally competitive and sustainable production of goods and services for the promotion of the Region’s economic and social development." **Key Objectives:** * **Cross-border resource utilization:** Employment of natural, human, and capital resources, technology, and management across borders for sustainable production. * **Sectoral linkages:** Fostering connections among economic sectors and enterprises within and among Member States of the CSME. * **Regional enterprises:** Promoting businesses capable of achieving economies of scale for domestic and international competition. * **Micro/Small Enterprises:** Establishing a viable micro and small economic enterprise sector. * **Diversification:** Enhancing and diversifying production for export and domestic markets. * **Collaboration:** Sustaining public and private sector collaboration for market-led production. * **Sustainability:** Ensuring industrial production is environmentally sustainable. * **Balanced development:** Addressing the special needs of disadvantaged countries, regions, and sectors. * **Industrial relations:** Maintaining stable industrial relations. ## Implementation of Industrial Policy To achieve its objectives, the Community promotes: * Co-ordination of national industrial policies. * An investment-friendly environment with a facilitative administrative process. * Diversification of products and markets to increase export range and value. * Organization and development of product and factor markets. * Institutional, legal, technical, and financial support for micro/small enterprises. * **Production integration** in collaboration with social partners. **Definition of "Production Integration":** > "(a) the direct organisation of production in more than one Member State by a single economic enterprise; (b) complementary production involving collaboration among several economic enterprises operating in one or more Member States to produce and use required inputs in the production chain; and (c) co-operation among economic enterprises in areas such as purchasing, marketing, and research and development." **Special Regimes and Support:** * A special regime will be established for disadvantaged countries, regions, and sectors. * COTED (Council for Trade and Economic Development) will establish criteria for special consideration of industries, focusing on prospects for successful production integration. * COTED will assist Member States in designing policy instruments (e.g., export promotion, financing, incentives, technology policies). * Implementation must regard environmental protection provisions. **Macroeconomic and Infrastructure Requirements:** Member States undertake to maintain supportive macro-economic policies, including: * Effective payment mechanisms. * Avoidance of double taxation. * Harmonised legislation. * Elimination of bureaucratic impediments to investment. * Improved infrastructure (air and maritime transport, communications systems). **COTED Facilitation Role:** COTED will collaborate with relevant organs to: * Develop strategies for market information dissemination, storage, and retrieval. * Promote the establishment and development of capital markets. * Encourage the development of export markets, particularly in non-traditional sectors. ## Sustainable Tourism Development The Community, with international organizations, will formulate proposals for sustainable tourism, balancing economic development with ecological and cultural conservation. **Objectives for Sustainable Tourism:** * Enhanced regional image as a tourist destination. * Diversified, high-quality tourism products. * Expanded market base. * Education programs for appropriate service-provider practices. * Linkages with other economic sectors. * Conservation of natural and cultural resources. * Appropriate infrastructure considering the natural and social carrying-capacity of Member States. ## Development of the Services Sector --- 📄 Full source: https://treaty.caricom.org/chapter/chapter-four-policies-for-sectoral-development/part-one-industrial-policy/

CARICOM Heads endorse Community Industrial Policy Strategy and Framework - CARICOM From left, CARICOM Secretary-General, Dr Carla Barnett, Dr The Most Honourable Andrew Holness, Outgoing Chair, CARICOM, Prime Minister, Jamaica; The Honourable Dr Terrance M. Drew, Chair, CARICOM, Prime Minister, St. Kitts and Nevis and Honourable Philip J. Pierre, Prime Minister, Saint Lucia CARICOM Heads of Government have endorsed the draft Community Industrial Policy Strategy and Framework (CIPSF). Chair of CARICOM, the Hon. Dr. Terrance Drew, Prime Minister of St. Kitts and Nevis, announced the endorsement at the conclusion of the 50th Regular Meeting of the Conference of Heads of Government of CARICOM in St. Kitts and Nevis. “Heads of Government endorsed the draft CARICOM Industrial Policy and Strategy framework, which is intended to provide a framework for a coordinated approach to industrial development across the Region,” Prime Minister Drew said at a media conference at the end of the Meeting. He added that the Heads of Government reaffirmed the need to foster market-led, internationally competitive and sustainable industries that promote both economic and social development across Member States. Suriname, which has responsibility for industrial development in the CARICOM Quasi Cabinet, spearheaded the development of the CIPSF. The Policy is grounded in the Revised Treaty of Chaguaramas and is intended to promote the development of entities ranging from large to micro businesses. The document proposes a collaborative model between regional governments and the private sector, targeting 12 industrial ecosystems alongside five cross-cutting enablers. The 12 eco-systems at the foundation of the Policy are: Agri-Food, Fisheries and Processing; Construction; Culture and Creative Industries; Digitalisation; Education and Human Capital Development; Energy; Health and Wellbeing; Mobility and Transportation; Micro, Small and Medium-sized Enterprises; Non-Food Manufacturing; Research, Development and Innovation; and Tourism. The CIPSF is well-positioned to make a substantive contribution to renewed economic diversification and cultivating indigenous growth and prosperity by addressing both established industrial sectors and emerging innovative fields and technologies. Tags 50 HGC 50HGC 50th Regular Meeting of the Conference of CARICOM Heads of Government business development caricom heads of government meeting Community Industrial Policy Show More Share #### News Letter ### Subscribe to our mailing list to get the new updates! ### Related ### Statement | CARICOM Chairman | Hon. Dr Terrance Drew | Prime Minister of St Kitts and Nevis | Twenty-Fifth Special Emergency Meeting of the Conference of Heads of Government of CARICOM | 10 April 2026 ### Key Outcomes and Agreements | Fiftieth Regular Meeting of the Conference of CARICOM Heads of Government | 24-27 February 2026 ### COMMUNIQUE – Fiftieth Regular Meeting of the Conference of Heads of Government of CARICOM |24 -27 February 2026 ### CARICOM to provide humanitarian support to Cuba, Prime Minister Terrance Drew says Check Also

A Policy Blueprint for Caribbean Economies | Caribbean Development Bank A Policy Blueprint for Caribbean Economies Downloads Summary This paper introduces a framework for discussing impediments to sustainable economic growth and development. The challenges to regional development can be broadly characterised under: Macroeconomic, Productivity and Competitiveness, Human Development, and Environmental. These issues persist against a backdrop of an ambitious, yet stagnant, regional integration agenda and other implementation gaps that further restrict governments' ability to achieve economic growth and development objectives. This paper presents a vision for regional economic transformation, underpinned by specific strategies with achievable objectives. The effectiveness of these strategies depends on recognition of the importance of building resilience in all aspects of development. ### Related NEWS & EVENTS News Solving the problem of Mathematics education in the Region News CDB - IDB - WORLD BANK JOINT PRESS RELEASE ON IMF STAFF-LEVEL AGREEMENT WITH SURINAME IMF Reaches Staff-Level Agreement with Suriname on a US$478 million SBA CDB' Country Strategy Paper for Suriname 2014 - 2018 News CDB President: International trade critical to Caribbean' growth strategy

Sage Reference - The SAGE Encyclopedia of African Cultural Heritage in North America - Susu: An African Caribbean Grassroots Approach to Savings LinkSkip to main content #### No internet connection. Go to my saved videos #### All search filters on the page have been cleared. #### Your search has been saved. ## Entry ## Reader's guide ## Entries A-Z ## Subject index ## Entry ## Reader's guide ## Entries A-Z ## Subject index # Susu: An African Caribbean Grassroots Approach to Savings - By: Eda Harris-Hastick - In: The SAGE Encyclopedia of African Cultural Heritage in North America - Chapter DOI:https://doi.org/10.4135/9781483346373.n278 - Subject: Ethnic Studies - Request Permissions - Show page numbers Hide page numbers This entry focuses on the susu (pronounced soo soo), an informal banking/credit arrangement that is popular among the Blacks in the Caribbean as well as among Black Caribbean immigrants to the United States. Susus also have developed a following among non-Caribbean African Americans and other ethnic minority business persons. The first section describes the susu concept and explains how it evolved, how a typical susu is organized and managed, and the ethical principles on which susus are organized. The second section examines the sociological implications of these practices and how they help to mediate the transition of immigrants from the Caribbean to a new culture. The third section discusses a burgeoning interest in susus by entrepreneurs who, for the most part, do not have a historical cultural connection to the susu tradition. The entry concludes with a discussion of the ways in which such culturally distinctive banking practices can be incorporated into traditional commercial banking methods. ### How the Concept of Susu Evolved Enslaved Africans brought to the West Indies were forced to adapt to new surroundings. They tenaciously fought to keep their African cultural practices. African cultural traditions were adapted to accommodate the conditions governing the environments in which they existed. The practice of informal, rotating credit associations was known among Africans. Such associations existed among Africans throughout the Caribbean albeit with regional variations in the rules and names. This informal banking practice was called a susu in Trinidad. It was virtually indistinguishable from the analogous “box” or “partner” in Jamaica, or “la main” in Haiti. Herein, the term susu is used to refer to all such practices among Black Caribbean immigrants. The word susu is derived from the Yoruba word esusu. It refers to the custom of pooling money from each member of a trusted group of persons. The custom continued following the end of enslavement in the Caribbean and North America. First- and second-generation Black Caribbean immigrants, from the 19th century to the present day, have continued the susu tradition in the United States, Canada, France, England, and the Netherlands. Contemporary analysts attribute the revitalization of many formerly decaying inner-city areas in Brooklyn and Queens to the financial investments of West Indian developers. Susus have played a major role in raising the capital needed to advance these projects. Susus have aided many developers, either by helping the developer put together the initial capital that is needed or by directly providing the funds that the developer uses to fund a project. Often, these funds are used to support various forms of micro lending. Susu members are known to invest in capitalizing their businesses with almost religious devotion. Some enthusiastically engage in the accumulation of wealth through investing in houses; others may focus on more modest goals such as the purchasing of household items. The role of susus in fostering the financial stability of Caribbean immigrants is so well recognized that (a) some New York banks have recognized these rotating credit associations as legitimate resources; (b) traditional financial institutions are creating financial opportunities based on the susu model; and (c) traditional banking institutions [Page 805]have become increasingly willing to accept proof of susu participation in lieu of other more traditional forms of credit reference. This latter phenomenon will be revisited later. ... ## Sign in to access this content Sign in ## Get a 30 day FREE TRIAL Watch videos from a variety of sources bringing classroom topics to life Read modern, diverse business cases Explore hundreds of books and reference titles Tools

# Credit, Identity, and Resilience in the Bahamas and Barbados **Source:** Ethnology, Vol. 48, No. 1, Winter 2009, pp. 71–84 **Authors:** Brent W. Stoffle (NOAA), Trevor Purcell (USF), Richard W. Stoffle, Kathleen Van Vlack (University of Arizona), Kendra Arnett, Jessica Minnis (College of the Bahamas) --- ## Abstract & Core Argument ROSCAs (Rotating Savings and Credit Associations) are time-tested institutions of African origin that persisted through slavery in the Caribbean. This study argues that ROSCAs continue to provide **critical human services, social stability, and a source of African-ancestor identity** in Barbados and the Bahamas. Based on **1,000+ first-person interviews and surveys**, the article documents that: - People generally attribute ROSCAs to **West African origins** - ROSCAs **persisted during slavery** because they were widely understood among slaves and could not be controlled by the dominant society - They became a **foundation of social and economic exchanges** because participants could totally control them, providing **agency** - They persist today because they continue to contribute to **community resilience and pride**—key aspects of identity --- ## Methods - **30+ years** of research across Caribbean coastal communities (Barbados, Bahamas, Antigua, St. Lucia, U.S. Virgin Islands, Dominican Republic) - **Barbados study:** 500 interviews (120 rural Bath Plantation area, rest urban Bridgetown) across 5 field sessions; focused on traditional microeconomic systems of exchange - **Bahamas study:** 572 interviews with 193 people from 6 traditional communities in the Exumas; 352 formal interviews (gender-balanced), 221 informal interviews (male-skewed); 34% sample of census population; conducted over 6 years/8 field sessions; initially focused on Marine Protected Areas (MPAs) impacts - Methodology: inductive, iterative, mixed methods, collaborative, consultative --- ## ROSCAs in the Caribbean: Key Concepts ### Structure & Function - System for **compulsory saving and microcrediting** based on interpersonal knowledge and trust - Members often **belong for life**, making ROSCAs multi-generational - Example: 12-member annual cycle, each contributes monthly; total given to one member on rotating schedule - Some meeting turns have existed for **65+ years**, replacing members as needed - Led by an **"organizer"** (Barbados) or **"meeting holder"**—almost always an **older woman**, possibly tied to women's roles in matrifocal Caribbean families (Barrow 1992) - Members vary by age, ethnicity, gender; key requirement is **good community standing** and ability to meet financial obligations - Shifting cycles requires negotiation: organizer hears request, explains to members, change only with member approval - **Stability** = predictable money at agreed times; **Flexibility** = ability to meet unanticipated crises = resilience [... additional sections omitted for brevity ...] --- 📄 Full source: https://ethnology.pitt.edu/ojs/Ethnology/article/view/6054/6230

# Caribbean Women and the Sou Sou Tradition: Origins and Evolutionary Practices in Our Region **Citation:** Smith, L. (2024). *International Journal of Entrepreneurship*, 28(S2), 1-3. University of the Virgin Islands. --- ## Key Definitions & Origins - **Sou Sou** (also Susu, Osusu, Asue) — derived from West Africa; English translation: "Merry-Go-Round" or "Partner" - **Regional names:** Pawdna (Jamaica), Sol (Haiti), Njanji (Cameroon) - **Definition:** An informal savings club / rotating savings and credit association (ROSCA) among a small group of individuals who take turns receiving pooled funds — referred to as **"throwing hand"** - Handed down from African ancestors; a lingering post-emancipation survival practice - Used in both Africa and the Caribbean > "Coupled with their determination and struggle for survival, was the women's creativity and resourcefulness." --- ## Personal Experiences & Observations ### Anguilla (Childhood) - Author's great-aunt **Rachel** served as **treasurer** of a Sou Sou/Partner Hand group - Rachel managed all calculations **mentally** — described as a "walking computer and calculator" - Kept a **locked trunk** and a guarded **logbook** for all club-related business - Women's circle organized around **sewing classes, Girls Brigade marches and meetings** — each involving fundraising and demonstrating entrepreneurial skills ### Anguilla (Young Teacher) - Teachers on small salaries counted down to **Government pay day** and **Women's Sou Sou pay day** - Sou Sou funds helped teachers **break even, pay outstanding bills, and make ends meet** ### U.S. Virgin Islands (Public School Teacher) - Author joined a private Sou Sou/Partner Hand group - Women money managers displayed "spot on alacrity in money management" - Sou Sou funds helped the author cover a **car note, student loan repayment, and familial responsibilities** --- ## Uses & Benefits of Sou Sou | Purpose | Details | |---|---| | **Daily survival** | Breaking even, paying bills on modest salaries | | **Debt avoidance** | Preferred over bank loans to avoid interest rates and increased debt service ratio | | **Travel/vacations** | Funding bucket-list trips to other Caribbean islands, U.S. mainland, Canada, Europe | | **Retail therapy** | Shopping sprees made possible through savings club participation | | **Financial safety net** | Relief for workers struggling on modest salaries | ### Case Study: Melvina Acum (2023) - Works for a small salary but travels annually to multiple Caribbean islands and countries worldwide - **Secrets to success:** - Partner Hand participation - Purchasing airplane seats on special/discounted fares - Grandmother's wisdom: the **two Cs of "Cutting and Contriving"** - Proverbial equivalents: *"cutting one's coat according to one's cloth"* and *"not hanging one's basket where it cannot reach"* --- ## Broader Context & Recommendations ### Alpha Kappa Alpha Sorority Credit Union (2023) - **First-ever Credit Union** launched at AKA's 2023 Conference in Chicago - Represents hope for **Black Women in Business** endeavors - **Recommendations from author:** - Unity and women's benefit must be central - More **marginalized women of color** must be included in dialogues - Credit Union should create more spaces for women of color to access **financial and educational resources** - Greater inclusivity to serve marginalized sisters and brothers in Black and Brown communities --- ## Conclusions & Significance > "The Sou Sou tradition and local financial engagements can help to stimulate our local economy and could provide financial stress relief and informal banking solutions for more of our people." - **Longevity:** Lasted several generations across the Caribbean and wider diaspora — suggests continued preference - **Trust-based:** Reflects mutual trust among membership - **Alternative to formal banking:** Potential for conducting small business in the Virgin Islands and wider Caribbean - **Economic stimulation:** Local financial engagements can stimulate local economies - **Financial stress relief:** Provides informal banking solutions for underserved populations --- ## Publication Details | Field | Value | |---|---| | **Received** | 02-Dec-2023 | | **Reviewed** | 18-Dec-2023 | | **Revised** | 22-Dec-2023 | | **Published** | 30-Dec-2023 | | **Manuscript No.** | IJE-24-14291 | **Sources cited:** Acum, Melvina (telephone interview, 14 July 2023); clevergirlfinance.com; essence.com

# Building Economic Solidarity: Caribbean ROSCAs in Jamaica, Guyana, and Haiti **Source:** Perspectives from Social Economics, 2017 (Book Chapter) | [DOI](https://doi.org/10.1057/978-1-137-60047-9_5) | 6 citations ## Abstract Summary Caribbean women create **rotating savings and credit associations (ROSCAs)** to meet community needs when commercial banks and formal financial alternatives fail. Key characteristics: - **Inclusive, locally driven institutions** serving livelihood needs, particularly for women - Black women participate in the social economy through **self-managed groups** - Build both **savings and community relations** - Enable access to **large lump sums of cash** for business investment - "Banker ladies" uphold **ancient African traditions of collectivity** to increase savings and lending opportunities ## Key Facts - **Author:** Caroline Shenaz Hossein (York University) — h-index 12, 436 citations, corresponding author - **Countries examined:** Jamaica, Trinidad and Tobago, Grenada, Guyana, and Haiti (five cases) - **Core subjects:** Microfinance and Financial Inclusion, Caribbean history/culture/politics, Urban and Rural Development, Solidarity, Development economics ## Core Themes | Theme | Description | |-------|-------------| | **Informal banking** | ROSCAs fill gaps left by commercial banks | | **Women's empowerment** | Black women as primary participants and "Banker ladies" | | **African traditions** | Collectivity practices rooted in ancient African heritage | | **Business investment** | Lump-sum access enables entrepreneurial activity | | **Community solidarity** | Social economy builds both financial and relational capital | ## Notable References - **Geertz (1962):** Rotating Credit Association as a "middle rung" in development - **Handa & Kirton (1999):** Economics of ROSCAs — evidence from the Jamaican 'Partner' - **Hossein (2016):** *Politicized Microfinance* (University of Toronto Press) - **Ardener & Burman (1995):** *Money-go-rounds* — importance of ROSCAs for women - **Nzengou-Tayo (1998):** "Fanm Se Poto Mitan" — Haitian women as pillars of society - **Harrison (1988):** Women in Jamaica's urban informal economy - **Polanyi (1944):** *The Great Transformation* — political/economic origins framework - **Storey (2004):** Racial and gender discrimination in Trinidad & Tobago micro-firm credit markets - **Verrest (2013):** Microentrepreneurship and business development in low-income Caribbean households ## Key Insights 1. **ROSCAs as resistance:** Informal banking collectives represent a deliberate alternative to exclusionary formal financial systems 2. **Gendered economy:** Caribbean women, particularly Black women, are the primary architects and beneficiaries of these systems 3. **Cultural continuity:** ROSCAs preserve African collective traditions adapted to Caribbean economic contexts 4. **Dual function:** These institutions serve both economic (savings/credit) and social (community building) purposes simultaneously 5. **Regional scope:** The practice spans multiple Caribbean nations with local variations (Jamaican 'Partner', Haitian systems, etc.)

# Caribbean Women's Use of Susu, Partner, Sol, and Boxhand as Quiet Resistance ## Overview - **Type**: Book chapter (2022) - **Author**: Caroline Shenaz Hossein (h-index 12, 436 citations) - **DOI**: https://doi.org/10.1093/oso/9780198865629.003.0003 ## Key Abstract Excerpt > "Mutual aid and coming together has been a way of life for the African diaspora since enslavement and the legacy of it that continues in everyday life. The Black diaspora, and especially Black women, contend with vile forms of racism and exclusion in business and society, but this is not what defines Blacks in the Americas." ## Core Argument Caribbean women organize **rotating savings and credit associations (ROSCAs)**—known locally as **Susu, Sol, Partner, and Boxhand**—as cooperative banking systems embedded in social relationships. By choosing cooperation, they **quietly resist commercial and individualized forms of banking**, using these systems alongside conventional banks to push against commercial and elitist financial institutions. ## Theoretical Framework - **J.K. Gibson-Graham's community economies theory** - **Caribbean and Black liberation theories** - Used to understand business exclusion of Black women ## Empirical Basis - **Hundreds of interviews** with Black Caribbean women across: - Jamaica - Guyana - Trinidad and Tobago - Haiti ## Key Findings - Women purposefully organize ROSCAs to be **considerate of people's social lives in relation to their business needs** - ROSCAs function as **cooperative banking systems embedded in social relationships** - Women use banking cooperatives **alongside conventional banks** (not as replacement) - This represents a form of **quiet resistance** against commercial and elitist financial institutions ## Key References & Themes ### ROSCAs and Cooperative Economics - Clifford Geertz (1962): ROSCAs as "middle rung" in development - Gracia Clark (1997): Importance of ROSCAs for women - Ngina Chiteji (2002): Enforcement and role of ROSCAs in economy - Hossein (2013, 2020): Black social economy and banker ladies; mutual aid financing ### Black Cooperative Tradition - Jessica Gordon Nembhard's *Collective Courage* (2015): African American cooperative economic thought - Curtis Haynes (2018): Cooperativism in Du Bois's economic thought - Nina Banks (2020): Black women and unpaid collective work in the US ### Caribbean Context - Robert Fatton (2007): Roots of Haitian despotism - Deborah Thomas (2004): Social power of urban poor in Jamaica - Hossein (2015): Financial exclusion in east Port of Spain, Trinidad - Hossein (2012): Politics of microfinance in Jamaica, Guyana, and Haiti ### Cooperative Theory - Brett Fairbairn (1994): Rochdale Pioneers and co-operative principles - Timothy Guinnane (2001): German rural credit cooperatives as information machines - Patrick Develtere (1993): Cooperative movements in developing countries ## Significance This chapter positions Caribbean women's ROSCA organizing as: 1. **Continuation of African diasporic mutual aid traditions** dating to enslavement 2. **Purposeful resistance** to financial exclusion and racism 3. **Community-based economic practice** that integrates social and business needs 4. **Quiet but deliberate challenge** to commercial banking hegemony

# Summary: The Joint Effect of Emigration and Remittances on Economic Growth and Labor Force Participation in Latin America and the Caribbean **Source:** IMF Working Papers 2024/175 | [RePEc Link](https://ideas.repec.org/p/imf/imfwpa/2024-175.html) ## Authors - Alina Carare - Alejandro Fiorito Baratas - Jessie Kilembe - Metodij Hadzi-Vaskov - Wenzhang Zhang ## Publication Details - **Publisher:** International Monetary Fund - **Year:** 2024 - **Handle:** RePEc:imf:imfwpa:2024/175 - **Download:** Freely available (no restrictions) ## Key Keywords Emigration, Remittances, Labor Force Participation, Economic Growth, Latin America, Caribbean, Central America, South America, Migration, Income ## NEP Fields - Financial Development and Growth - International Trade - Economics of Human Migration --- ## Abstract Summary ### Research Objective Provide a consistent empirical framework to estimate the **net joint effect** of emigration and remittances on origin countries' key economic variables (GDP growth and labor force participation), addressing endogeneity concerns using novel "shift-share" instrumental variables (per Anelli et al., 2023). ### Context - Latin America and the Caribbean (LAC) has seen continuous growth in remittances over past decades due to steady emigration - Remittances now represent the **largest capital inflows** for many LAC countries - Study period: **1999-2019** (past two decades) ### Key Findings 1. **Emigration Impact:** Negative and statistically significant impact on: - Contemporaneous economic growth - Change in labor force participation in origin countries 2. **Remittances Role:** Partially mitigate the adverse impact—**especially on economic growth**—resulting in a **small negative net joint effect** 3. **Subregional Differences:** Significant differences across subregions, with the **largest negative effects observed in the Caribbean** 4. **Labor Force Participation:** - Negative impact of emigration and remittances on change in labor participation is **small overall** - For the **youngest cohort (15-24)**, the effect is **twice as large** as for overall labor force participation 5. **Robustness:** Results are robust to various specifications, variables, and measurements of emigration and remittances --- ## Methodology Notes - Uses "shift-share" instrumental variables approach (following Anelli et al., 2023) - Addresses endogeneity concerns inherent in migration-remittance studies - Focuses on the joint/net effect rather than examining emigration and remittances in isolation ## Significance This paper is particularly relevant for LAC policymakers given that remittances have become the dominant capital inflow for many countries in the region, and understanding the trade-off between emigration costs and remittance benefits is critical for economic planning.

# The Development Impact of Remittances on Caribbean Economies: The Case of Guyana **Author:** Debra Roberts, Senior Economist, Central Bank of Guyana --- ## Abstract & Key Findings - Officially recorded remittances into Guyana rose from **US$29.2 million (2000)** to **US$225.9 million (2006)** - Remittances have **outpaced FDI and official development assistance** as a source of foreign exchange - Official figures **underestimate true magnitude** — informal channels excluded - Major finding: Although substantial proportion used for **consumption**, collectively these expenditures **contribute to development needs** of the country > "Although a substantial proportion of remittances are used for consumption purposes and smaller amounts dedicated to productive activities; collectively these expenditures contribute to the achievement of the development needs of the country." --- ## 1. Introduction: Caribbean Context - Caribbean remittances reached **US$6.4 billion** at end of 2005 — second largest source of foreign finance after private capital flows - Caribbean is the **leading recipient region** globally measured as % of GDP, rising from **3% (1990) to 13% (2002)** - Remittances can be **securitized** to reduce borrowing costs on international capital markets - **Altruistic motive predominates** in Caribbean — making remittances **counter-cyclical**, responding positively to natural disasters/adverse shocks - Agarwal & Horowitz (2002) found **altruistic motive very strong** in Guyana specifically - Orozco & Hamilton (2006): Remittances had **positive impact on most Caribbean economies**, strongest in **Jamaica, Haiti, and Guyana** - Guyana listed among **world's top 30 recipients** of remittances measured as share of GDP > "Because Caribbean economies have a history of severe poverty, in the absence of these additional funds the poverty level for the recipient households would have been significantly higher in absolute terms and in terms of severity. Therefore, the expenditure on consumption will also have development implications for these economies." --- ## 2. Background: Guyana Overview ### Economic Profile - **Population:** ~800,000 - **Land area:** 83,000 sq miles - **Demographics:** 71% rural, 29% urban; multi-ethnic - **Economy:** Agricultural-based; rich in gold, bauxite, diamond; sugar and rice as main export earners - **Independence:** 1966 [... additional sections omitted for brevity ...] --- 📄 Full source: https://sta.uwi.edu/conferences/salises/documents/roberts%20d.pdf

Remittances to Latin America and the Caribbean in 2025: Adaptations in a Context of Uncertainty # Remittances to Latin America and the Caribbean in 2025: Adaptations in a Context of Uncertainty Peer Reviewed How to Cite Author Date issued November 2025 Read: English Spanish DOI Subject Remittance; Economic Development; Migrant; Poverty; Labor; Extreme Poverty JEL code F24 - Remittances; F22 - International Migration; J61 - Geographic Labor Mobility • Immigrant Workers; O15 - Human Resources • Human Development • Income Distribution • Migration; R23 - Regional Migration • Regional Labor Markets • Population • Neighborhood Characteristics Category Technical Notes Remittances received by millions of families in Latin America and the Caribbean contribute significantly to poverty reduction. The possibility of sending remittances is one of the main reasons why people decide to migrate. In this new study on these flows, we project that in 2025 they will grow once againfor the sixteenth consecutive yearalthough unevenly across countries and with the notable exception of Mexico. In addition to presenting a projection of remittance trends to Latin American and Caribbean countries in 2025, we conduct an analysis of the factors that determine these flows and examine how changes in macroeconomic variables affect the purchasing power of remittances for recipient households. Finally, the report also explores the impact of these flows on poverty in seven countries of the region.

# Migration and Remittances in Latin America and the Caribbean: Engines of Growth and Macroeconomic Stabilizers? **Source:** IMF Working Paper No. 2017/144 | **Date:** June 29, 2017 | **Pages:** 81 ## Authors Kimberly Beaton, Svetlana Cerovic, Misael Galdamez, Metodij Hadzi-Vaskov, Franz Loyola, Zsoka Koczan, Bogdan Lissovolik, Jan Kees Martijn, Yulia Ustyugova, Joyce Wong ## Publication Details - **Series:** Working Paper No. 2017/144 - **DOI:** https://doi.org/10.5089/9781484303641.001 - **ISBN:** 9781484303641 - **ISSN:** 1018-5941 - **Stock No:** WPIEA2017144 ## Citation > Kimberly Beaton, Svetlana Cerovic, Misael Galdamez, Metodij Hadzi-Vaskov, Franz Loyola, Zsoka Koczan, Bogdan Lissovolik, Jan Kees Martijn, Yulia Uustyugova, and Joyce Wong. "Migration and Remittances in Latin America and the Caribbean: Engines of Growth and Macroeconomic Stabilizers?", *IMF Working Papers* 2017, 144 (2017), accessed 4/29/2026, https://doi.org/10.5089/9781484303641.001 ## Key Summary (from Abstract) > Outward migration has been an important phenomenon for countries in Latin American and the Caribbean (LAC), particularly those in Central America and the Caribbean. This paper examines recent trends in outward migration from and remittances to LAC, as well as their costs and benefits. For the home country, the negative impact from emigration on labor resources and productivity seems to outweigh growth gains from remittances, notably for the Caribbean. However, given emigration, remittance flows play key financing and stabilizing roles in Central America and the Caribbean. They facilitate private consumption smoothing, support financial sector stability and fiscal revenues, and help reduce poverty and inequality, without strong evidence for harmful competitiveness effects through shifts in the real exchange rate. ### Key Findings - **Emigration's net effect on growth is negative** — labor resource and productivity losses outweigh remittance-driven growth gains, especially in the Caribbean - **Remittances serve as macroeconomic stabilizers** in Central America and the Caribbean, playing key financing roles - **Consumption smoothing:** Remittances facilitate private consumption smoothing - **Financial stability:** Remittance flows support financial sector stability and fiscal revenues - **Poverty & inequality reduction:** Remittances help reduce poverty and inequality - **No significant Dutch disease effects:** No strong evidence of harmful competitiveness effects via real exchange rate shifts ## Subjects & Keywords **Subjects:** Balance of payments, Consumption, Income, Migration, National accounts, Population and demographics, Remittances **Keywords:** Caribbean, Central America, Consumption, cost of remittance, economic migration, GDP ratio, Gini coefficient, Global, Income, International Migration, Latin America, Migration, remittance corridor, remittance flow, remittance inflow, remittance sender, remittance transaction, Remittances, remittances emigrant, remittances-recipient country, South America ## Disclaimer > IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. ## Availability - **Full PDF:** https://www.imf.org/-/media/files/publications/wp/2017/wp17144.pdf - **eLibrary:** https://elibrary.imf.org/view/journals/001/2017/144/001.2017.issue-144-en.xml - **Print Copy:** ISBN 9781484303641 (IMF Bookstore)

# Summary: What Have Remittances Done to Development? Evidence from the Caribbean Community and Common Market ## Article Metadata - **Authors:** Sokchea Lim, Walter O. Simmons - **Affiliation:** Department of Economics and Finance, Boler School of Business, John Carroll University, University Heights, OH 44118, USA - **Contact:** slim@jcu.edu; wsimmons@jcu.edu - **Journal:** The Review of Black Political Economy (National Economic Association) - **Volume/Issue:** Volume 43, Issues 3-4, Pages 343-361 - **Published:** January 1, 2016 - **DOI:** https://doi.org/10.1007/s12114-016-9240-y - **Keywords:** CARICOM, Remittances, Social development, Health, Education, Communication infrastructure, Demographic changes ## Abstract (Key Excerpt) > "This paper analyzes the long-run impact of remittances on socio-economic development in the Caribbean Community and Common Market (CARICOM) between 1970 and 2013. We find that remittances have improved the health indicators, reducing infant and child mortality, and food deficit and improving life expectancy, and sanitation and water sources, especially in the rural areas. However, remittance inflows have no significant impact on education and communication infrastructure. Neither do they contribute to any demographic changes." ## Key Findings ### Positive Impacts of Remittances (Health Sector) - **Reduced infant mortality** - **Reduced child mortality** - **Reduced food deficit** - **Improved life expectancy** - **Improved sanitation** - **Improved water sources** - Effects were **especially pronounced in rural areas** [... additional sections omitted for brevity ...] --- 📄 Full source: https://journals.sagepub.com/doi/10.1007/s12114-016-9240-y

Caribbean Investor - Opportunities for Business Investors, Venture Capitalists & Angel Investment # Caribbean Investors The Caribbean Islands have a wide range of potential opportunities for investors, both locally and abroad. Venture capitalists and angel investors alike have started to look in the region for potential success stories among the recent wave of Caribbean start-ups. Several biotech and energy start-ups have already been set up in the region and an increasing amount of angel investment has been provided in the area. Currently, over 2 billion dollars of capital is available on the Caribbean branch of the Angel Investment Network, a clear sign that the market is making progress. Investors from a wide range of countries have also helped the market grow, with investors from China and India amongst the list of countries looking to invest in the Caribbean. While some business owners are just looking for investment for their new business ideas, many Caribbean entrepreneurs are also looking for investors who are willing to take a more active approach. As well as providing capital, investors can assist with contacting the right people and forming a cohesive business plan for expansion. #### Join our growing network of Caribbean-based entrepreneurs and angel investors Caribbean Investment Network helps investors and entrepreneurs in Caribbean facilitate lasting and profitable relationships that build better businesses and brighter futures Sign up as an investor Sign up as an entrepreneur This website uses cookies to personalize and deliver appropriate content, analyze website traffic and display advertising. By clicking "Accept" you agree to our terms and may continue to use this website. Visit our cookie policy to learn more. Accept close

# Caribbean Manufacturing Hub Investment Guide: Multi-Country Production Platform Strategy ## Core Thesis > "The Caribbean is not a single market — it is a strategically positioned collection of jurisdictions offering complementary manufacturing, logistics, and market access advantages for US companies building resilient, diversified supply chains." The **Caribbean Economic Corridor model** treats the Caribbean as an integrated production ecosystem rather than isolated country bets. The Dominican Republic serves as the anchor, with secondary locations layering additional capabilities. ## Platform Architecture: Complementary Roles | Location | Primary Role | Key Advantage | Ideal For | | --- | --- | --- | --- | | **Dominican Republic** | Manufacturing anchor | CAFTA-DR, free zones, workforce | High-volume US-bound production | | **Puerto Rico** | US content / R&D | US territory, FDA proximity | Pharma, biotech, US content-sensitive goods | | **Panama** | Logistics hub | Canal Zone, PTZ free zone | Distribution, consolidation, trans-shipment | | **Jamaica** | CARICOM access | Caribbean Single Market | Regional distribution, CBI-eligible goods | | **Costa Rica** | Advanced services | Highly skilled workforce, Intel model | Precision mfg, tech services, medical devices | ## Capital Deployment Strategy (Phased) - **Phase 1:** Establish anchor manufacturing in the **Dominican Republic** (highest priority — CAFTA-DR access, free zone infrastructure, workforce depth) - **Phase 2:** Add logistics optimization via **Panamanian PTZ operators** or **Miami distribution intermediaries** - **Phase 3:** Add capability differentiation — **Puerto Rico** for US content optimization, or **Costa Rica** for advanced manufacturing services ### Return Profile > "Institutional investors including family offices and private equity funds with Caribbean platform strategies have demonstrated **15-25% IRR profiles** on well-structured manufacturing investments in the DR corridor." **Key return drivers:** - CAFTA-DR tariff savings capitalized as net present value - Labor cost differential vs. US domestic production - Free zone tax holiday duration *Sources: EGS deal flow analysis and IDB Invest co-investment data* ## Financing Sources - **IDB Invest** and **World Bank IFC** — project finance facilities for qualifying FDI - **US Export-Import Bank** — supply chain finance for US content-linked manufacturing - **DFC** (Development Finance Corporation) — loans and equity co-investment for strategic sectors - **CABEI** (Central American Bank for Economic Integration) — facilities for CAFTA-DR country investments - **Commercial banking** — Dominican, Panamanian, and Puerto Rican banks with Caribbean regional coverage ## Government Relations & Institutional Support **Key institutions to engage:** - CARICOM secretariat - CAFTA-DR Joint Committee - AmCham chapters in each operating country - Bilateral chambers of commerce **DR-specific ministerial engagement** (critical for acceleration): - Ministry of Industry and Commerce - CNZFE (National Free Zones Council) - PROINVERSION > "Government relations investment at the ministerial level in the Dominican Republic... significantly accelerates approval processes and provides early access to infrastructure development plans affecting investment location decisions." ## FAQ Highlights ### Minimum Capital Requirements | Platform Scope | Capital Range | Horizon | | --- | --- | --- | | DR anchor operation (facility, equipment, working capital, team) | **$5–25 million** | Initial | | Full multi-country platform (PR + Panama integration) | **$25–75 million** | 3–5 year build-out | | Private equity-backed at scale | **$100M+** | — | ### Family Office Investment Structures - **Direct equity** in operating companies — highest control and return potential - **Preferred equity co-investment** alongside operating partners - **Real asset investments** in free zone infrastructure (land, buildings, industrial parks) with manufacturing tenant lease income — more predictable income, lower operational risk ### Strongest Sector Economics for 2026–2027 **Priority sectors:** - **Medical devices** — US supply chain security policy, strong demand, CAFTA-DR zero-tariff access, DR regulatory compliance infrastructure - **Pharmaceutical packaging** — same drivers as above **Secondary priority sectors (high growth potential):** - Nearshore electronics assembly - Packaging - Clean energy components ## Key Abbreviations Referenced - **CAFTA-DR** — Central America-Dominican Republic Free Trade Agreement - **CARICOM** — Caribbean Community - **CBI** — Caribbean Basin Initiative - **PTZ** — Panama Free Trade Zone (Colón) - **CNZFE** — National Free Zones Council (DR)

# Call for Projects — Caribbean Investment Forum 2026 (CIF) **Host:** Barbados | **Organizer:** Caribbean Export Development Agency **Source:** [carib-export.com](https://carib-export.com/opportunities/call-for-projects-caribbean-investment-forum-2026-cif/) --- ## Overview CIF 2026 is the Caribbean's **premier investment platform**, seeking **advanced, investment-ready projects** for packaging and promotion to global investors. Projects must demonstrate: - Commercial viability - Measurable national or regional impact - Readiness for expansion or scaling - **Minimum capital investment: US $3 million** - Alignment with at least one priority sector --- ## Priority Investment Sectors 1. **Sustainable Agriculture** — Food security & climate resilience. Includes sustainable practices, agritech, circular-economy models, waste-to-energy, organic inputs, precision farming, smart irrigation. 2. **Green Economy Transition** — Low-carbon transition initiatives: renewable energy, recycling, carbon reduction technologies, energy-efficient/sustainable manufacturing. 3. **Digital Transformation** — Digital platforms, automation, smart systems enhancing efficiency, competitiveness, and market access. 4. **Logistics & Transportation** — Regional trade logistics, transport infrastructure, inter-island connectivity (air/maritime cargo, warehousing, fleet management, sustainable mobility). --- ## Benefits of Participation - **Visibility** — International exposure to investors, financiers, strategic partners - **Credibility** — Curated pipeline of investment-ready projects promoted by Caribbean Export & partners - **Targeted Support** — Time-bound support to strengthen investment readiness *(not provided during application stage)* - **Investment Engagement** — Direct investor connections via Investment Village pitching process - **Impact** — Advance Caribbean's sustainable, digital, inclusive growth agenda - **Practical Experience** — Real investor-facing pitch experience to refine value proposition - **Investor Feedback** — Insights from investor questions to identify gaps (financials, risks, market validation) --- ## Application Process — Two Steps ### Step 1: Expression of Interest (EOI) - **Deadline:** March 15, 2026 - **Format:** Online form (link on original page) - **Content:** Project concept, investment required, sector alignment, expected impact - Full EOI document available for download ### Step 2: Full Proposal *(By Invitation Only)* - **Deadline:** May 15, 2026 - **Eligibility:** Shortlisted applicants only - **Format:** Max 50 pages, letter-size format - **Language:** English > All communications and submissions should be sent (in English) to the CIF Projects Team, Attn: Ms. Tonya Cummins ([email protected]). --- ## Eligibility - **Location:** Projects must be implemented in **CARIFORUM Member States** - **Minimum investment:** US $3 million - **Eligible applicants:** Private-sector enterprises, cooperatives, public-private partnerships, social enterprises ### CARIFORUM Member States Antigua & Barbuda, Bahamas, Barbados, Belize, Dominica, Dominican Republic, Grenada, Guyana, Haiti, Jamaica, St. Kitts & Nevis, Saint Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago --- ## Contact | Field | Details | |-------|---------| | **Name** | Ms. Tonya Cummins | | **Role** | Access to Finance Officer | | **Email** | [email protected] | | **Event Website** | www.caribbeaninvestmentforum.com |

Caribbean Association of Investment Promotion Agencies CAIPA Skip to main content. Invest in the Caribbean: Where Small Economies Attract Big Investment # Build, scale and expand in the Caribbean. CAIPA connects investors with opportunities across 24 markets, providing regional insight, local expertise and coordinated support. ## Investing in the Caribbean Means: Market Access 800M+ Within a four-hour flight of nearly 800 million consumers across the Americas, enabling efficient regional trade and distribution. Economic Momentum 8.2% Caribbean annual Real GDP Growth in 2025, higher than any other reported region. (IMF, October 2025) Skilled Talent Pipeline 80,000+ Graduates entering the workforce each year across business, logistics, engineering and technical fields. Economic Scale $150B+ Combined GDP of Caribbean economies, supporting expanding investment across priority sectors. (IMF, 2025) The Caribbean provides strategic access to global markets and competitive advantages for international investors. ## Investors benefit from: - Strong global trade integration, with 13% intra-CARICOM trade and major partnerships with the U.S., EU, and China. - Duty-free access to major markets through trade agreements with the U.S., EU and Canada. - Stable financial systems supported by established regional banking centres - Specialized, multilingual talent with salaries 4 to 6 times lower than in the U.S. - Government incentives that support innovation and sustainable business growth Discover the Top 10 Reasons to Invest ## Featured Resource ### Invest in the Caribbean: Regional Investment Guide This regional investment guide highlights the Caribbean’s competitive advantages, priority sectors and market opportunities for international investors.Explore how the region’s strategic market access, cost competitiveness and growing sector ecosystems support scalable, long-term investment. ## CAIPA: Your Regional Investment Gateway Our network of 24 Investment Promotion Agencies delivers coordinated support from market exploration to project implementation. ### Investors work with CAIPA to: - Access sector intelligence across priority industries - Evaluate investment locations and operating environments - Navigate regulatory frameworks and incentives with local expertise - Build connections with public and private sector partners ## Caribbean Investment & Business News & Media Distilling Growth; Delivering Caribbean Food Security May 21, 2026 CAIPA joins regional leaders and WFZO in backing new Caribbean Special Economic Zone Association May 19, 2026 From Potential to Proof: Revival in Spanish Town April 23, 2026 Suriname’s Agricultural Moment Has Arrived February 25, 2026 CAIPA at 42nd CANTO Conference February 5, 2026 Curaçao emerges as attractive alternative as Dutch real estate investors look abroad January 29, 2026 Redefining the Caribbean: Uncovering High-Growth Sectors Across the Region January 27, 2026 CAIPA Digital Investment Webinar: Executive Summary Held on November 26, 2025 January 20, 2026 The Caribbean Advantage: Where Investment Meets Opportunity January 19, 2026 ## Industry Sectors ### Scale Agribusiness and Food Production in the Caribbean With fertile land, expanding regional demand and increasing focus on food security, the Caribbean offers strong opportunities across production, processing and value-added exports. Investors can build resilient supply chains supported by regional trade access and growing sector ecosystems. ### Invest in the Caribbean’s Expanding Renewable Energy Market Driven by ambitious national energy targets, rising regional demand and strong policy support, the Caribbean is scaling investment in solar, wind and sustainable energy infrastructure. Investors benefit from growing project pipelines, government incentives and long-term demand for resilient energy systems. ### Build Regional Logistics and Distribution Platforms Strategically positioned between North and South America, the Caribbean enables efficient trade and distribution within a four-hour reach of major global markets. Investment opportunities span ports, warehousing, freight services and integrated logistics infrastructure. ## 10 Reasons to Invest in the Caribbean #6Cost Effective & Skilled Talent #9Ease of Doing Business ## Invest with Confidence in the Caribbean With expanding sector ecosystems, strategic global connectivity and coordinated regional support, the Caribbean offers a compelling platform for long-term investment. CAIPA works with investors to navigate markets and stakeholders, evaluate opportunities and accelerate project execution across the region. Speak with our team to begin exploring investment opportunities today.

Investment Opportunities in the Caribbean Skip to main content. Investment Opportunities # Explore the Caribbean’s High-Growth Investment Sectors The Caribbean offers a diversified investment landscape across high-growth sectors including agribusiness, renewable energy and logistics. Between 2021 and 2025, CAIPA member countries attracted over 250 FDI projects with an estimated value exceeding USD $42 billion (FT Locations, fDi Markets, 2026, © The Financial Times Ltd. 2026, © The Financial Times Ltd. 2026). Quick Search: ## Investment Opportunities High-Tech Agribusiness ### High-Tech Agribusiness Strong tourism demand and high food import dependence are driving investment in local production, agritech and value-added food exports. Opportunities span sustainable agriculture, processing and export-oriented production, supported by proximity to U.S. and global markets. Renewable Energy ### Renewable Energy The Caribbean is harnessing its abundant natural resources to achieve energy independence and sustainability. Governments across the region have adopted ambitious renewable energy targets, driving demand for generation, storage and energy infrastructure investment. Logistics & Transportation ### Logistics & Transportation Strategically located between North and South America, the Caribbean provides access to major global shipping routes and established free trade agreements. The region’s ongoing investments in port modernization, free-trade zones, and air connectivity position the region as a strategic platform for trade and supply chain investment. Contact CAIPA to Learn More About Each Caribbean Sector