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# Summary: Toward Harmonized AI Policies and Recommendations for the Caribbean **Source:** CTU Caribbean AI Task Force (CAITF) Interim Report, December 2025 **Published by:** Caribbean Telecommunications Union (CTU), Port of Spain, Trinidad and Tobago **Contact:** caitf@ctu.int **Mandate:** One-year mandate to develop harmonized AI policy recommendations and coordinate a Caribbean AI Forum in 2026 **Composition:** 35+ nominated members from Caribbean governments, national agencies, multilaterals, private sector, academia, CSOs, nonprofits, and NGOs --- ## Executive Summary Key Points The report presents a strategic response to the global AI landscape, aiming to operationalize the **CARICOM Single ICT Space** in the AI domain. It identifies a critical choice for the Caribbean: > Either remain a peripheral "standards-taker" and deepen existing vulnerabilities, or act collectively to shape AI in line with Caribbean priorities, values and development goals. ### The "Connectivity Paradox" High digital engagement (75% of Caribbean SIDS population online in 2023) is undermined by fragile infrastructure, high costs, and fragmented regulation—threatening data sovereignty and exacerbating brain drain. ### Five Interlocking Action Areas 1. Regional AI policy and governance architecture (model laws, oversight, procurement/audit standards) 2. Data governance and digital infrastructure (data protection, Caribbean Data Commons, regional data centres, HPC) 3. AI innovation in priority sectors (agriculture, disaster risk, tourism, financial services, health, public administration) 4. Human capacity and AI literacy (curriculum reform, teacher training, innovation labs, research hub, lifelong learning) 5. Multi-stakeholder engagement (Caribbean AI Forum, national advisory mechanisms) --- ## Global AI Market Context - **UNCTAD estimate:** Global AI market to approach **USD 4.8 trillion by 2033** - **Latin America & Caribbean projected gain:** ~USD 0.5 trillion by 2030, accounting for up to **5.4% of Latin America's GDP** - Caribbean share remains modest; AI development concentrated among limited entities, growing slower than other regions [... additional sections omitted for brevity ...] --- 📄 Full source: https://ctu.int/wp-content/uploads/2025/12/CCAITF-Draft-Interim-Report-MASTER-1.pdf

# Quantifying the Jobs Potential of AI in Latin America and the Caribbean **Source:** World Bank Results Brief | **Date:** April 15, 2025 **Funding Mechanism:** IBRD --- ## Key Results - **30–40% of jobs** in LAC are exposed to generative AI (Gen AI), with exposure highly linked to a country's economic status. Exposed jobs tend to be **urban, formal, higher-paying**, and require **higher education**. - **8–12% of jobs** could see productivity boosts from Gen AI — but **up to ~17 million jobs** cannot leverage benefits due to **lack of digital infrastructure**. - **2–5% of jobs** are at risk of automation, disproportionately impacting **younger, educated, urban workers, and especially women**. Women workers are **twice as likely** to be at risk of automation. - **13–22% of workers** are exposed in contexts that could lead to either automation or augmentation, depending on technology evolution, worker characteristics, and complementary policies. --- ## The Challenge Gen AI could transform labor markets, but most impact studies focus on high-income countries. For LAC — one of the world's **most unequal regions** with a **persistent productivity gap** driven by barriers to innovation and technology adoption — AI could either: - Be a path to greater productivity, or - Widen the gap between low- and high-income workers No prior assessment of occupational exposure to Gen AI had been conducted in the region. --- ## World Bank Group Approach - **Partnership:** World Bank + International Labour Organization (ILO) - **First-of-its-kind analysis** of Latin American labor market exposure to Gen AI - Leveraged **harmonized household and labor force surveys** - Broke down data **by country, demographic, and sector** into three categories: 1. Jobs at risk of automation 2. Jobs where AI could boost productivity 3. Jobs in between (ambiguous outcome) - Accounted for **slower technology adoption** in developing economies - **All country-level data made publicly available online** to inform policy responses --- ## Lessons Learned 1. **Digital access equalization is urgent.** Inadequate digital infrastructure — especially in lower-income countries — is a **major bottleneck** preventing countries from capitalizing on Gen AI's productivity potential. 2. **Scale up high-frequency labor market data collection** in developing countries to move from measuring *exposure* to measuring *actual impacts*. This enables: - Early detection of labor-displacement effects - Evidence-based labor market policies --- ## Next Steps **Policy support for governments:** - Strengthen job protection measures and social protection systems - Equip workers with skills - Expand digital infrastructure and reduce the digital divide **Future research priorities:** - Collect better data on technology use at work - Gather data on characteristics of workers' internet access - Examine how job tasks vary across countries - **Update and scale methods globally** for the next **World Development Report on AI** --- ## Related Publication > **Buffer or Bottleneck? Employment Exposure to Generative AI and the Digital Divide in Latin America** > [Open Knowledge Repository](https://openknowledge.worldbank.org/entities/publication/f3137b32-f70f-4b88-bc61-5eeaf12303ec) **Download full brief:** [Quantifying the Jobs Potential of AI in LAC (PDF)](https://www.worldbank.org/en/results/2025/04/15/quantifying-the-jobs-potential-of-ai-in-latin-america-and-the-caribbean) --- ## Critical Takeaways | Metric | Value | |---|---| | Jobs exposed to Gen AI | 30–40% | | Jobs with productivity boost potential | 8–12% | | Jobs blocked by digital infrastructure gaps | ~17 million | | Jobs at risk of automation | 2–5% | | Jobs in ambiguous zone (automation or augmentation) | 13–22% | | Women's automation risk vs. men | 2x higher |

# Strengthening the Artificial Intelligence Readiness of the Caribbean **Source:** ECLAC Policy Brief LC/CAR/2025/3 (25 August 2025) ## Introduction AI offers significant potential to advance the Sustainable Development Goals (SDGs) but carries substantial risks, including: * Job market and economic disruption * Loss of cultural diversity * AI-enabled digital weapons, misinformation, and surveillance * Threats to human rights and democracy * Increased inequalities within and between countries > "Bearing in mind these risks and the promises of the 2030 Agenda for Sustainable Development to 'leave no one behind', 'reach the furthest behind first' and 'reduce inequality within and among countries', it is clear that governments must strengthen their capacity to govern AI." A national-level governance gap exists that must be filled to mitigate harms, anticipate risks, and harness AI for the Caribbean, especially in the context of the triple planetary crisis (climate change, biodiversity loss, pollution). ## Caribbean AI Readiness ### Policies, Strategies, and Laws * **Global/Regional Engagement:** Caribbean countries unanimously adopted the UNESCO Recommendation on the Ethics of AI (2021) and co-sponsored UN GA resolutions 78/265 and 78/311. They participate in eLAC2026, the Santiago (2023) and Cartagena (2024) declarations, and the CARICOM Declaration on Autonomous Weapons Systems (2023). * **Subregional Efforts:** The Caribbean AI Policy Roadmap (2021, updated 2024) guides governance frameworks. The Commonwealth is developing a sovereign AI strategy framework (11 of 16 Caribbean states are members). * **National Level:** AI strategies are in emerging stages. Only one country has adopted a national AI strategy. No national AI laws have been adopted yet, though some bills have been introduced. Puerto Rico and the US Virgin Islands have adopted at least one AI-related law each. * **International Treaties:** No Caribbean country has signed the Council of Europe AI Treaty (2024). The EU AI Act (2024) will impact the Caribbean due to extraterritorial effects and applicability in EU "outermost regions" (French Guiana, Guadeloupe, Martinique, Saint-Martin). * **Action Needed:** Build capacity of legislators on broader digital regulation (cybersecurity, data protection, automated decision-making) to prepare for future AI-specific laws. ### Infrastructure * **ICT Development Index (IDI):** The Bahamas ranks highest in the Caribbean (40th globally, 3rd in Americas). Only three Caribbean countries rank in the top half of the IDI. The Caribbean scores below the global median on 6 of 9 indicators. * **Affordability:** Mobile data is significantly less affordable (e.g., Curaçao costs 2.8x the global average). 5G deployment lacks a business case, likely requiring government funding, which could widen digital/AI divides. * **AI-Specific Infrastructure:** One supercomputer exists (University of West Indies at Mona). Data centres are essential but growing compute requirements are reshaping design needs. The Caribbean Datacenter Association was established in 2024 to foster collaboration. [... additional sections omitted for brevity ...] --- 📄 Full source: https://repositorio.cepal.org/server/api/core/bitstreams/6658d38e-c635-4e82-9c0c-d5802d46e405/content

# Artificial Intelligence Readiness in the Caribbean: An Exploratory Review **Authors:** Dale Alexander, Lika Døhl Diouf, Chaela Wooding **Publisher:** ECLAC Subregional Headquarters for the Caribbean **Series:** Studies and Perspectives No. 131 (LC/TS.2024/146) **Year:** 2024 --- ## Abstract & Overview This study consolidates scattered data to provide an overview of AI readiness across the Caribbean, examining three dimensions: **(1) Government readiness**, **(2) Caribbean digital readiness**, and **(3) Sustainability considerations for Caribbean SIDS**. It identifies gaps, recommends actions for policymakers/academia/private sector, and suggests areas for future research. > "AI systems, when applied well, can increase efficiency; and support resource management, climate mitigation, disaster response and economic transformation." > "Developments in AI technologies could increase inequalities both between and within countries, in ways which counteract the overall purpose of the SDGs." — Vinuesa et al. (2020) **Key risk:** 74% of UN AI Advisory Body experts surveyed were concerned that AI harms will become substantially more serious/widespread in the next 18 months due to inequalities in AI ownership and control. --- ## I. Government Readiness ### 2023 Government AI Readiness Index (GAIRA) — Caribbean Rankings | Rank | Country | Score/100 | |------|--------|-----------| | 66 | Dominican Republic | 50.71 | | 93 | Bahamas | 42.14 | | 98 | Jamaica | 41.32 | | 102 | Barbados | 40.13 | | 104 | Trinidad and Tobago | 39.44 | | 105 | Antigua and Barbuda | 39.41 | | 106 | Saint Kitts and Nevis | 39.23 | | 116 | Guyana | 36.79 | | 118 | Saint Lucia | 36.46 | | 123 | Cuba | 35.52 | | 124 | Suriname | 35.52 | | 127 | Dominica | 34.82 | | 128 | Grenada | 34.63 | | 129 | Belize | 34.24 | | 130 | Saint Vincent and the Grenadines | 34.13 | | 184 | Haiti | 21.97 | *Global leaders: United States (84.90), Singapore (81.97)* **GAIRA Pillar scores — key findings:** - **Government pillar:** Widest variation (8.92–68.07). All countries except Dominican Republic score **0.00 on vision** (no national AI strategy). Lack of cybersecurity measures and ethical principles for AI further depress scores. - **Technology sector pillar:** Scores range 22.89–32.87 (vs. Singapore's 90.40). All/most countries score 0.00 on AI research conducted, technology platform activity, and quality of engineering/tech higher education. - **Data and infrastructure pillar:** Highest average scores (34.10–60.51). Data governance (GovTech Maturity Index) pulls scores down. **Data caveat:** Scores for 5 countries (Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Vincent and the Grenadines) were based on 40–50% imputed data. ### A. Strategic Readiness [... additional sections omitted for brevity ...] --- 📄 Full source: https://caribbean.un.org/sites/default/files/2025-06/caribbea-artificial-intelligence-ai-united-nations-study.pdf

# Jamaica's 2024 Inflation: Lowest in Six Years, But Food Prices Still Rising **Source:** Caribbean National Weekly | **Published:** January 17, 2025 --- ## Key Inflation Figures - **2024 inflation rate:** 5.0% — lowest annual rate since 2018 (2.4%) - **2023 inflation rate:** 6.9% - **2022 inflation rate:** 9.4% (10-year high) - **BOJ target range:** 4–6% (successfully maintained in 2024) ## Food Prices Continue to Climb - **Food prices rose 8.1%** in December 2024 year-over-year - Key drivers: higher costs for **fruits, vegetables, and pulses** - Particularly sharp increases for **bananas, tomatoes, and plantains** ## Sector-by-Sector Breakdown | Sector | Price Change | Key Drivers | |--------|-------------|-------------| | **Food** | +8.1% (Dec YoY) | Fruits, vegetables, pulses | | **Housing** | Increased | Higher rental costs, electricity rates | | **Restaurants & Accommodation** | +4.0% (year ending Dec 2024) | Fast food, street vendors, cookshops | | **Transport** | Slight easing | Lower petrol prices | | **Health, personal care** | Moderate increases | — | ## Bank of Jamaica Outlook & Forecast - Inflation expected to remain within **4–6% target range** over next two years - Occasional temporary dips below 4% expected in some months during 2024–2025 - **Revised two-year forecast (from Nov 2024):** average **5.0%**, down from previous projection of **6.4%** - Revision driven by: - Easing demand pressures - Reduced inflation expectations - Slower pace of currency depreciation > "The Bank expects any breaches below the lower end of the target range to be short-lived, with inflation generally staying within the target range over the medium term." ## Risks to Price Stability The BOJ cautioned that maintaining the target range could face challenges from: **Global factors:** - Reduced global inventory - Geopolitical tensions - Ongoing US-China trade uncertainties (could push grain prices higher) **Domestic factors:** - Agricultural disruptions from **Hurricane Beryl** and **Tropical Storm Rafael** - Delays in crop production recovery — expected to delay until **March 2025** - These setbacks contributed to higher-than-expected inflationary pressures in the **December 2024 quarter** --- ## Related News Headlines (Brief) - **Jamaica launches search for new Bank of Jamaica Governor** — Current governor Richard Byles' tenure ending - **INDECOM probes fatal police shootings** — Death toll climbs to 37 for April; five men killed in four incidents - **Guyana President voices alarm** over Venezuela Essequibo symbol display (brooch worn by Venezuela's Acting President Delcy Rodríguez) - **PM Holness urges contractors** to step up for 150,000 housing goal - **BVI & Dominican Republic** to sign bilateral agreement in June - **US Coast Guard offloads** ~7,050 lbs cocaine valued at $53M+ seized in Caribbean Sea - **MSF warns** of worsening humanitarian crisis and healthcare collapse in Haiti - **Tourism Minister Bartlett** targets south coast towns for 'edutourism' expansion

# Examining the Rising Cost of Living in the Caribbean ## Overview Caribbean nations face an alarming increase in the cost of living driven by **inflation, external market pressures, and global supply chain disruptions**. The crisis impacts housing, utilities, food, and healthcare, leaving local communities with diminishing purchasing power. --- ## Key Factors Driving Inflation - **Dependence on imported goods** — makes the region vulnerable to global commodity price fluctuations - **Rising global energy prices** — increased oil prices drive up transportation and production costs - **Supply chain disruptions** — pandemics and geopolitical tensions limit goods availability - **Currency fluctuations** — declining local currencies make imports more expensive - **Increased demand** — post-pandemic recovery has surged demand against limited supply - **Climate change** — natural disasters disrupt production and distribution - **High public debt** — leads governments to print more money, fueling inflation - **Stagnant wages** — as costs rise, purchasing power diminishes ### Inflation Rates in Selected Caribbean Countries | Country | Inflation Rate (%) | Major Driving Factor | | --- | --- | --- | | Jamaica | 8.5% | Increased food prices | | Barbados | 5.8% | Fuel price hikes | | Trinidad and Tobago | 6.7% | Supply chain issues | | Dominican Republic | 7.3% | Imported inflation | --- ## Impact of Currency Fluctuations on Everyday Expenses When local currency weakens against the US dollar or Euro, **imported goods become more expensive**, hitting food, fuel, and consumer products hardest. Low-income households are disproportionately affected, spending a larger share of income on essentials. Local businesses struggle to maintain stable pricing amid fluctuating exchange rates, forcing frequent price adjustments that confuse consumers and deter spending. The **tourism sector** also suffers — when poor exchange rates make travel seem costlier, tourists reconsider plans, directly impacting local economies. ### Currency Fluctuation Impact by Category | Expense Category | Impact | | --- | --- | | Food | Higher prices for imported goods | | Fuel | Rising transportation costs | | Housing | Increased cost for building materials | | Tourism Activities | Perceived affordability issues | --- ## Socioeconomic Consequences for Local Communities ### Most Affected Sectors - **Housing** — Renting or purchasing homes has become prohibitively expensive - **Food Security** — Soaring prices limit access to nutritious options, leading to health issues - **Transportation** — Commuting costs climb, straining worker budgets ### Broader Economic Effects | Impact Area | Current Effects | | --- | --- | | Employment Rates | Job loss and reduced hiring | | Local Industries | Declining sales and potential closures | | Health Services | Increased demand for assistance as families face hardship | Increased operational costs from higher import tariffs and wages reduce disposable income, creating a challenging environment for economic growth. --- ## Strategies for Sustainable Economic Development 1. **Invest in renewable energy** — lower energy costs and reduce dependence on imported fuels 2. **Foster agricultural innovation** — enhance food security and decrease food prices; support local farmers with technology, training, and organic farming practices 3. **Diversify tourism** — promote eco-tourism and cultural experiences for alternative revenue streams 4. **Establish social safety nets** — protect vulnerable populations from economic shocks 5. **Public-private collaboration** — incentivize green projects and build a thriving local workforce --- ## Conclusion The rising cost of living is multifaceted, driven by local policies, global economic trends, and reliance on imports. **Policymakers, businesses, and communities must collaborate** on sustainable solutions: - Enhancing local production - Improving supply chain efficiencies - Investing in renewable energy Stakeholders must prioritize **transparency and adaptability**, with ongoing dialogue and robust analyses to foster resilience. Strategic planning offers hope for a more equitable cost of living throughout the region.

# Caribbean Cost of Living in 2025: Regional Analysis & Implications ## Executive Summary The Caribbean shows extreme cost-of-living variation, from Cayman Islands (among world's most expensive) to Dominican Republic (emerging-market affordable). Data sourced from **Numbeo's 2025 Mid-Year Cost of Living dataset** (same source as Visual Capitalist's global price map), with NYC = 100 as baseline. > "A reading of 80 means prices are roughly 20% below NYC." --- ## Key Numbers at a Glance (2025 Mid-Year, NYC = 100) | Country | CoL Index | Rent Index | CoL+Rent Index | |---|---|---|---| | **Cayman Islands** | 108.2 | 76.3 | **94.3** | | **Bahamas** | 85.4 | 47.1 | **68.7** | | **Puerto Rico** | 59.8 | 20.6 | **42.7** | | **Jamaica** | 50.1 | 16.7 | **35.6** | | **Trinidad & Tobago** | 49.4 | 13.7 | **33.9** | | **Cuba** | 40.1 | 11.8 | **27.8** | | **Dominican Republic** | 34.7 | 10.0 | **24.0** | ### Three Key Takeaways 1. **Services vs. tradables**: Small, high-income islands pay steep markups on services and imported goods due to scale, logistics, and wage structures 2. **Housing matters**: Jump from CoL to CoL+Rent shows where rents amplify costs—particularly Cayman and Bahamas 3. **Wide dispersion**: Region spans from upper-global-tier expensive to emerging-market affordable --- ## What the Index Measures - **CoL+Rent**: Combined index approximating all-in cost of living - **Rent Index**: Relative rent prices - **CoL Index**: Relative prices of consumer goods/services excluding rent - All indices relative to NYC (= 100) - **Caveat**: Crowd-sourced data; treat as directional, not exact; validate with local knowledge --- [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.batvja.com/caribbean-cost-of-living-in-2025-how-the-region-stacks-up-and-what-it-means-for-households-businesses-and-policymakers/

Caribbean: Cost of Living Index by Country 2025 # Caribbean: Cost of Living Index by Country 2025 Chart: Cost of Living Index Select date: 2026 2025 Mid-Year 2025 2024 Mid-Year 2024 2023 Mid-Year 2023 2022 Mid-Year 2022 2021 Mid-Year 2021 2020 Mid-Year 2020 2019 Mid-Year 2019 2018 Mid-Year 2018 2017 Mid-Year 2017 2016 Mid-Year 2016 2015 Mid-Year 2015 2014 Mid-Year 2014 2013 2012 2011 2010 2009 Select display column: ---All columns--- Cost of Living Index Rent Index Cost of Living Plus Rent Index Groceries Index Restaurant Price Index Local Purchasing Power Index Learn more about these indices Rank Cost of Living Index Rent Index Cost of Living Plus Rent Index Groceries Index Restaurant Price Index Local Purchasing Power Index | Country | | --- | | Us Virgin Islands | 98.4 | 46.4 | 75.4 | 106.3 | 90.5 | 72.3 | | Bahamas | 81.4 | 46.9 | 66.1 | 79.1 | 94.5 | 58.4 | | Barbados | 70.0 | 20.1 | 47.9 | 78.1 | 70.3 | 45.9 | | Puerto Rico | 58.7 | 19.9 | 41.5 | 63.1 | 53.4 | 111.0 | | Jamaica | 50.3 | 17.7 | 35.9 | 59.6 | 42.8 | 36.4 | | Trinidad And Tobago | 48.9 | 13.7 | 33.3 | 54.1 | 45.2 | 46.1 | | Cuba | 40.8 | 11.6 | 27.9 | 41.1 | 26.6 | 2.5 | | Dominican Republic | 34.3 | 9.8 | 23.5 | 36.2 | 33.3 | 31.4 | Numbeo's Country Rankings: - Quality of Life Index by Country 2026 - Crime Index by Country 2026 - Health Care Index by Country 2026 - Pollution Index by Country 2026 - Property Prices Index by Country 2026 - Traffic Index by Country 2026 This Page in Other Languages: | Deutsch Lebenshaltungskostenindex nach Land 2025 | | --- | | PortuguêsÍndice de Custo de Vida por País 2025 | | Italiano Indice del costo della vita per Paese 2025 | | Français Indice du coût de la vie par Pays 2025 | | EspañolÍndice del coste de vida por País 2025 | Copyright © 2009-2026 Numbeo. Your use of this service is subject to our Terms of Use and Privacy Policy

Inflation Across CARICOM: A 2025 Snapshot - Antigua News Room Instagram Local News - Weather - Tourism - Sports - Reports - Religion - Politics - Enviroment - Education - Economy - Crime - Court - Charity - Business - Accident - Agriculture - Announcements Search Monday, March 2, 2026 - Contact - Privacy Policy - Advertise - Having troubles with your homework, then go to – Instagram Sign in Welcome! Log into your account your username your password Forgot your password? Get help Privacy Policy Password recovery Recover your password your email A password will be e-mailed to you. Antigua News Room Facebook Twitter Pinterest WhatsApp - Having troubles with your homework, then go to – Inflation Across CARICOM: A 2025 SnapshotMost member states kept inflation under 5% in 2025 CARISTATS: Inflation across CARICOM varied in 2025, though most member states maintained price stability under 5%. According to IMF estimates, St. Lucia recorded the region’s lowest inflation at 0.4%, followed by The Bahamas at 0.5%. Grenada, Belize, Trinidad and Tobago, St. Kitts and Nevis, and St. Vincent and the Grenadines all came in under 2.5%. Mid-range performers included Barbados (2.3%), Dominica (2.8%), Antigua and Barbuda (3.5%), and Guyana (3.6%). Jamaica recorded 4.2%. At the upper end, Suriname posted 9% inflation – elevated but a marked improvement from the 50%+ levels seen in 2021–2022. Haiti remained an outlier at 27.8%, reflecting ongoing political and humanitarian instability. For consumers and businesses across the region, the data signals a return to relative price stability, a notable shift from 2022, when several economies recorded rates two to three times higher. Source: IMF World Economic Outlook, October 2025 Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua! We offer fully customizable and flexible digital marketing packages.Contact us at [email protected] - Contact - Privacy Policy - Advertise © Antigua News Room 2026 MORE STORIES News ### WATCH: Major Fire Destroys several buildings in Dominica’s capital, Roseau March 2, 2026 0

JetBlue – MSBM Financial Literacy Program | Mona School of Business & Management ### Find Your Programme "JetBlue – MSBM Financial Literacy Program" is an innovative educational initiative aimed at equipping individuals with essential financial knowledge and skills to enhance their financial well-being. This newly established program emerged through collaboration between JetBlue, MasterCard, AFUWI and Mona School Business and Management to improve financial literacy in the Caribbean. This program will support the launch of the JetBlue-MasterCard FCIB credit card portfolio in the region, presenting young professionals and entrepreneurs with a valuable opportunity to familiarize themselves with credit and debt management best practices, and other essential money management competences, geared towards financial independence and wealth creation. This collaborative program offers a free course, Financial Literacy and Managing Your Money, designed to empower participants with the knowledge and tools necessary to navigate personal and professional financial landscapes effectively. Participants in this course will cover four modules; Money Management, Credit management, Debt Management, Investment and Retirement Planning. Key Program Details: Program Name: Jet Blue – MSBM Financial Literacy Program Course Name: Financial Literacy and Managing Your Money Criteria: Interested applicants aged 18-45 from the following islands: Jamaica, Barbados, Bahamas, Antigua and Barbuda, Trinidad and Tobago, St. Lucia, and Dominica. Course Fee: The program is offered free of charge to all registered and eligible participants. Cohort Size: Each cohort accommodates 30 to 35 participants Cohort Period: Each cohort spans over a period of 3 weeks. Participants are expected to spend 8 – 12 hrs in total to successfully complete the program. Certification: Upon successful completion of the program, participants will receive a certificate recognizing their achievement. | Participating Partners | | --- | Register for the Jet Blue - MSBM Financial Literacy Program by filling out the form below and await your confirmation email Sorry… This form is closed to new submissions.

# Financial Education in Latin America and the Caribbean (V.2) — Case Study Summary **Source:** Alliance for Financial Inclusion (AFI), September 2024 (update of November 2020 version) **Product of:** Consumer Empowerment and Market Conduct Working Group (CEMCWG) with support from FILAC **Coverage:** 14 countries — 11 AFI members + 3 outside AFI network --- ## 1. Introduction & Background AFI's National Financial Education Strategy Toolkit (2020) defines financial education as: > "A process of providing people with the knowledge, skills, attitude, and exposure through access to relevant objective information, and training to enable them to make informed financial decisions and take actions appropriate to their circumstances." **Methodology:** Survey conducted May 2024 across 13 countries; Brazil data via documentary research. Survey covered key institutions, national strategies, measurement parameters, web portals, and international network participation. --- ## 2. Country Profiles ### 2.1 Bahamas - **Lead:** Central Bank of Bahamas (with Association of Clearing Banks, Credit Bureau, Insurance Association) - **NFES:** None to date; carries out financial literacy activities - **Key initiatives:** "Get Money Smart Bahamas" campaign (launched May 2018); annual financial education fair every April - **Survey:** Financial Capability Survey conducted 2024 - **Networks:** AFI member ### 2.2 Costa Rica - **Definition:** *"The process of raising awareness and guiding the population on the importance of developing good habits and skills in the use of tools for managing personal and family finances."* - **Lead:** SUGEF (supports Financial Education Plan by Ministry of Economy, Industry and Commerce) - **NFES:** Launched 2019; currently under redesign - **Key initiatives:** Talks at schools/universities; participation in Expo Construction & Expo Móvil; monthly social media campaigns; Global Money Week & World Savings Week - **Survey:** Financial Capabilities Survey 2024 - **Networks:** AFI member, OECD/INFE main member [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.afi-global.org/wp-content/uploads/2024/09/Financial-Education-in-Latin-America-and-the-Caribbean-v.2_EN.pdf

# Launch of MoneySmart — Central Bank of Barbados' Digital Financial Literacy Programme **Source:** [Central Bank of Barbados](https://www.centralbank.org.bb/news/moneysmart-news/moneysmart-launch) **Author:** Central Bank of Barbados **Created:** 08 Mar 2024 **Categories:** MoneySmart News, General Press Release **Tags:** MoneySmart, Financial Literacy --- ## Summary The Central Bank of Barbados has launched **MoneySmart**, a digital financial literacy programme. The initiative is described as **multi-year** and will include educational modules covering: - **Saving and budgeting** - **Investing** - **Borrowing** - **Planning for retirement** - **And more** A launch video is available on YouTube for public viewing. --- ## Key Media > **MoneySmart Launch Video** > [Watch on YouTube](https://www.youtube.com/watch?v=MGOtsjeneyc) --- ## Context This programme represents the Central Bank of Barbados' effort to improve public financial literacy through a structured, digital, multi-year educational initiative. The modular approach suggests ongoing content releases rather than a one-time campaign. --- ## Contact Information | Method | Details | |--------|---------| | **Phone** | +1 (246) 436-6870 | | **Email (General)** | info@centralbank.org.bb | | **Email (HR)** | hrinfo@centralbank.org.bb | | **Email (Applications)** | hrapplications@centralbank.org.bb | | **Email (Regulatory)** | supervision@centralbank.org.bb | | **Fax (Accounts)** | (246) 427-4074 | | **Fax (Banking)** | (246) 437-3334 | | **Fax (Governor's Office)** | (246) 436-7836 | | **Address** | Tom Adams Financial Centre, Spry Street, Bridgetown, Barbados |

About SFEP - Financial Services Commission # About SFEP The School Financial Education Programme (SFEP) is a youth-focused, activity-based programme developed in partnership with Junior Achievement Jamaica. SFEP is held between January and March each year and is designed to teach children and young adults how to take charge of their own financial future and make smart plans based on wise financial choices. Approximately five thousand students have been direct beneficiaries over the past ten years. The SFEP curriculum delivered by the teachers at the participating schools helps to develop students’ Money Management Skills, introduce concepts in Personal Finance, and promote responsible Credit Management. At the end of the approximate six-week period, it is expected that students will: - Contact - Understand the time value of money; - Take practical steps to earn and save money; - Get exposure to investment products and strategies; - Spend less than they earn; - Learn how to grow and manage money; - Protect their financial resources; - Manage and control their credit and a credit profile, and - Manage and control their debt. The targeted participants are students from Jamaican high schools island-wide who are at least 12 years old and who are motivated and capable of understanding the programme material. All students participating in the programme also benefit from one-day comprehensive educational tours of three important financial institutions: The Bank of Jamaica’s Money Museum; the Jamaica Stock Exchange, and the offices of the FSC. During these tours, the students are exposed to how money evolves and how the Financial System in Jamaica operates and view presentations that explain the regulatory roles of the FSC, BOJ and the JSE. SFEP also includes competitions in Essay, Audio/Visual and jingle creation used to evaluate how well students can apply the information shared with them. The students are able to apply the information shared with them using both academic and creative media. This allows them to tap into their knowledge by way of an expressive outlet that speaks to their demographic best. The SFEP will continue to be the marquee establishment championing financial literacy as a part of the National Financial Inclusion Strategy (NFIS). We are proud to be the flag bearers of such an important legacy in the development of the men and women of Jamaica’s future.

Financial Education Us - Central Bank of Trinidad and Tobago Slide right to see more About The National Financial Literacy Programme Our Programmes Tools and Resources Money Doctor Publications Who Am I Guides Contact Us # The National Financial Literacy Programme (NFLP) The Central Bank’s Financial Education outreach initiatives are dedicated to fostering financial empowerment through education and interactive tools. Request an NFLP Session #### About the National Financial Literacy Programme Background of the NFLP From the mid-1990s through to 2009, Trinidad and Tobago enjoyed rapid economic growth on the strength of high energy prices and expanding capacity in the energy sector. The steady increases in employment and personal incomes were accompanied by sharp increases in private consumption and rising consumer debt. Additionally, personal savings were relatively low, with many persons proving to be ill-prepared for retirement. Alarmed by the observed trend, the Government of the Republic of Trinidad and Tobago mandated the Central Bank of Trinidad and Tobago to spearhead the operation of a unit responsible for guiding and advising individuals on making sensible financial decisions. The Central Bank of Trinidad and Tobago was deemed particularly well positioned in executing such as task due to its credibility in providing unbiased, impartial and accurate information to the citizens of Trinidad and Tobago. The National Financial Literacy Programme was thus officially launched on 31st January, 2007. Vision The National Financial Literacy Programme aims to produce more financially informed individuals who have the skills and knowledge needed to make sensible decisions with their money. Financially literate individuals can: - Take responsibility for their financial affairs; - Make ends meet and avoid incurring unnecessary personal debt; - Plan ahead for short, medium and long term goals, including retirement; - Adopt and emulate beliefs and attitudes towards money; - Exhibit responsible consumer behaviour and; - To empower individuals to achieve financial well-being. #### Our Programmes – Building Financial Knowledge Together The Central Bank offers dynamic programmes aimed at engaging and educating diverse audiences: #### Community Outreach Bringing financial literacy directly to communities through interactive workshops, events, and activities. Learn how we’re creating impact locally. #### Request for Services The NFLP’s financial education services are free and designed to meet the unique needs of organizations and communities. #### Money World Kids Corner A rich media interactive infographic portal that teaches key money concepts and challenges young minds. #### Empower Yourself with Tools & Resources ###### Publications Insightful guides to help you master personal finance. ###### Planners Organizational tools for managing budgets, savings, and more. ###### Calculators Interactive tools to simplify complex financial calculations. ###### Other Resources Access trusted resources for deeper financial understanding. #### Your Personalized Financial Expert The Money Doctor offers expert advice to help you tackle financial concerns. From budgeting tips to debt management, get the guidance you need to make confident decisions about your money. Get Advice from the Money Doctor #### Financial Literacy Publications: Your Financial Guides Simplify your financial journey with our comprehensive publications. These guides provide actionable insights and strategies to help you build a strong financial foundation and achieve your goals. #### Financial Advice Tailored for You Who Am I Guides - Students: Start your journey to financial independence with practical budgeting tips. - Parents: Secure your family’s financial future with expert guidance. - Business Owners: Drive business growth with smart financial strategies. #### National Financial Literacy Programme (NFLP) Events Stay connected by participating in our impactful events designed to enhance your financial literacy: - Financial Literacy Month: Join us for a month of engaging activities and workshops dedicated to empowering financial independence. - Fin Lit Live: A high-energy programme consisting of informative and interactive presentations with an engaging display of booths from regulators and the CBTT Museum. #### Request a Financial Literacy Session To request a financial literacy session or address correspondence, please contact: The Manager External Relations Central Bank of Trinidad and Tobago Eric Williams Plaza Independence Square Port of Spain - Telephone: 1 868 621 CBTT (2288)/ 1 868 235 CBTT (2288) - Email: outreach@central-bank.org.tt keyboard_arrow_up Menu

IDB | Innovative Businesses in the Caribbean Show Higher Levels of Productivity and Sales, IDB Report Says Most Caribbean businesses are either innovative or potentially innovative but still face challenges, according to a new report by the Inter-American Development Bank (IDB). This edition delves into the critical role of innovation in driving economic growth and productivity in the Caribbean region. Innovative businesses in the Caribbean have 26% to 35% higher levels of productivity and 21% to 81% higher sales per worker than non-innovative firms, depending on the type of innovation, according to the report titled"Innovation for Faster Economic Growth in the Caribbean: Are We There Yet?". The report is part of IDB’s Caribbean Economics Quarterly publication series, which focuses on the economic performance of The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago. The report also reveals that a substantial percentage of firms are poised to innovate but face significant barriers. Drawing on data from a survey conducted by the Compete Caribbean Partnership Facility, the report identifies the main obstacles faced by businesses to achieve innovation. These include macroeconomic conditions, the regulatory environment, access to finance, and labor market constraints. Challenges were amplified during the COVID-19 pandemic, and even at the end of 2024 several Caribbean countries have only just recovered their pre-pandemic levels of economic activity. Other key findings from this edition include: - Policy measures to foster an enabling environment for innovation include improving labor market matches, providing dedicated support services for entrepreneurs, increasing access to innovative finance, and digitalizing public services. - The percentage of firms filing patents increased from 7.9% to 12.7% between the 2014 and 2020 surveys. The percentage is slightly higher among female-led firms compared to male-led firms. - Nearly 57% of firms are potential innovators for general forms of innovation, 85% for digital innovation, and 48.8% for green innovation. “Innovation is one of the key drivers for growth and resilience in the Caribbean. This report highlights the remarkable potential of our region’s businesses. By addressing the barriers they face, we can unlock even greater opportunities for sustainable development and competitiveness,” said Anton Edmunds, IDB General Manager for the Caribbean. IDB's Caribbean Economics Quarterly is a publication series dedicated to advancing economic understanding of Caribbean realities through the lens of The Bahamas, Barbados, Guyana, Jamaica, Suriname and Trinidad and Tobago. With a commitment to fostering development, this IDB report continues to be a trusted resource for policymakers, academia, and businesses. Previous editions are available here. About the IDB The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Contacts #### Garcia,Geraldine [email protected] You may also like IDB Publications on the Caribbean Access IDB's Caribbean economics quarterly reports. Learn more IDB Blog on the Caribbean Learn more about our work in the Caribbean. Access the blog

# Access to Finance for Women-Led MSMEs in the Caribbean — Flagship Study Summary **Commissioned by:** Caribbean Development Bank (CDB) via the Investment Climate Reform (ICR) Facility **Authored by:** DevSolutions Consulting LLC (April 2025) **Pilot Countries:** Belize, Jamaica, Saint Lucia, The Bahamas **Co-funded by:** EU, OACPS (11th EDF), BMZ, British Council **Implemented by:** GIZ, British Council, Expertise France, SNV --- ## Executive Summary: Key Findings - **WMSMEs face systemic barriers** limiting access to finance, resulting in a significant financing gap that hampers scaling and economic resilience. - **IDB estimates the WMSME financing gap in LAC at $93 billion.** - **IFC estimates 87% of MSME financing needs in LAC remain unmet.** - **No common definition** of MSMEs or WMSMEs exists across the Caribbean. - **~30–40% of formal businesses** in the region have some female ownership; The Bahamas leads at **58%**. - Most WMSMEs are **microenterprises (sole proprietorships)** with progressive decline in small/medium categories — indicating scaling challenges. - **Only 1% of women entrepreneurs** have access to angel investors, seed capital, and venture capital. ### Six Common Ecosystem Constraints 1. **Financial Inclusion gaps** — limited bank branches/ATMs in rural areas; DFS still emerging; persistent financial literacy gaps (only 43% of Caribbean adults financially literate vs. 57% global average) 2. **Business Climate Gaps** — burdensome regulations, complex/costly formalisation 3. **MSME Policy/Regulatory Frameworks** — progress on credit bureaus and movable asset collateral, but implementation gaps remain 4. **Limited Financing Options** — few options beyond grants/loans; Jamaica is the exception with a vibrant equity ecosystem 5. **Fragmented Ecosystem** — limited public-private collaboration; coordination gaps among government agencies 6. **Severe Data Gaps** — serious lack of WMSME data; sex-disaggregated data rarely collected ### Social & Cultural Constraints > "Caribbean gender roles dictate that women are primarily responsible for household duties and caregiving, limiting the time they can dedicate to business ventures. This 'double burden' often forces women entrepreneurs into informal, low-growth, necessity-driven businesses." - Women are more **risk-averse** due to socialised expectations of financial prudence - Societal gender biases affect how women entrepreneurs are **perceived in business** and their access to larger clients/supply chains - **Intersectional barriers** (ethnicity, geography, informality) compound challenges for indigenous and rural women - **54% of women** in non-agricultural jobs in LAC are in informal employment - In Jamaica, **~61% of women-owned firms** operate informally; **43% of GDP** attributed to informal activity --- ## MSME Sector Overview (4 Pilot Countries) | Country | # MSMEs | % of Businesses | Employment Share | Dominant Sectors | |---|---|---|---|---| | **The Bahamas** | ~17,000 | 98% | ~47% | Wholesale/retail, tourism, transport, construction | | **Jamaica** | ~11,346 (classified) | 97.6% | ~80% | Wholesale/retail (55.7%), community/social services (23.3%) | | **Belize** | ~11,346 | 90% of private sector | >50% | Agriculture (14%), accommodation/food (15.6%), wholesale/retail (18.3%) | | **Saint Lucia** | ~6,469 | 77% micro | ~49% | Wholesale/retail (32%), tourism, agriculture, manufacturing | - MSMEs represent **~90% of all businesses** in CARICOM - Productivity lags at **one-third to one-half** of larger enterprises - **~30–40% of formal businesses** have female ownership; high at micro level, drops significantly for small/medium --- [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.icr-facility.eu/wp-content/uploads/2023/04/Access-to-Finance-Study-Final-Report-2.pdf

issue to the Inaugural Conference on Business and Management hosted by the Mona School of Business and Management in 2015. It pulls together the main findings, arguments and perspectives of those papers that were most closely aligned with the theme of the conference. In so doing, it focuses on the challenges to increasing entrepreneurship, enterprise, competitiveness and growth in Small Island Developing States (SIDS), such as those in the Caribbean, and the strategies for addressing them. These challenges and strategies are advanced primarily from the point of view of small businesses that tend to dominate the business landscape of SIDS. Taken together these papers, support the view of much of the scholarly and practitioner community that insufficient attention has been paid to this group of businesses within the Caribbean and more generally in the SIDS context. Drawing from the papers, a number of challenges and solutions are highlighted, many of which point to the role of policy (including legal and regulatory), technology, business strategy and contextual learning. This introduction also suggests some areas for future research and policy directions. Este artículo abre la edición especial de la Conferencia Inaugural sobre Negocios y Administración organizada por la Escuela de Negocios y Administración de Mona (Mona School of Business) en 2015. Reúne las principales conclusiones, argumentos y perspectivas de los trabajos más alineados con el tema de la Conferencia. Enfoca los desafíos que presentan el fortalecimiento del espíritu emprendedor, emprendimiento, competitividad y crecimiento en los Pequeños Estados Insulares en Desarrollo (PEID), utilizando el ejemplo del Caribe y las estrategias utilizadas para enfrentarlos. Los desafíos y las estrategias reflejan principalmente la perspectiva de las pequeñas empresas que tienden a dominar el escenario empresarial de los PEID. Por lo general, estos documentos apoyan la perspectiva de la mayoría de la comunidad académica y profesional o sea que no se ha prestado suficiente atención al grupo empresarial caribeño ni, por lo general, a los PEID. Destaca una serie de retos y soluciones, muchas de las cuales apuntan al papel que juega la política (incluso a nivel legal y reglamentario), la tecnología, la estrategia empresarial y el aprendizaje contextual. Esta introducción también sugiere algunas áreas para futuras investigaciones y orientaciones políticas. Cet article vise à introduire ce numéro spécial consacré à la Conférence inaugurale sur le commerce et la gestion qui a eu lieu en 2015 à L’École de commerce et de gestion de Mona. Il rassemble les principaux résultats, les arguments et les perspectives des communications qui se sont

# Barriers to Enterprise Development in the Caribbean **Source:** [https://doi.org/10.1080/08985626.2018.1515821](https://doi.org/10.1080/08985626.2018.1515821) **Journal:** *Entrepreneurship and Regional Development*, 2018 (13 citations) ## Abstract & Key Findings Caribbean economies have experienced **stagnant growth since the 1990s**, a major concern for policymakers in small developing economies. This study uses establishment-level data to understand the factors constraining business growth in the region. **Three Main Regional Barriers Identified:** 1. **Inadequately educated workforce** 2. **Access to finance** 3. **Crime, theft, and disorder** *Note:* While these are the regional highlights, there are significant variations at the country level, with clusters of countries experiencing similar degrees of obstacles. The article concludes with recommendations for alleviating these constraints to stimulate economic growth. ## Authors - **Stephen Drinkwater** (University of Roehampton) — *Corresponding Author* | h-index: 23 | Citations: 2,839 - **Jonathan G. Lashley** (University of the West Indies) | h-index: 6 | Citations: 140 - **Catherine Robinson** (University of Kent) | h-index: 20 | Citations: 1,549 ## Topics - Entrepreneurship Studies and Influences - International Business and FDI - Firm Innovation and Growth - Workforce - Business ## Key References The study draws upon a wide range of literature, including: - **Caribbean Context & Development:** - Potter, Barker, Klak, Conway. *The Contemporary Caribbean* (2015). - Ruprah, Melgarejo, Sierra. *Is There a Caribbean Sclerosis? Stagnating Economic Growth in the Caribbean* (2014). - Girvan. *The Caribbean in a Turbulent World* (2010). - Nicholson, Lashley. *Understanding the Caribbean Enterprise* (2016). - Mandle. *Patterns of Caribbean Development* (2010). - Ryan. *Entrepreneurship in the Caribbean: Culture Structure Conjuncture* (1994). - Ryan, Barclay. *Sharks and Sardines: Blacks in Business in Trinidad and Tobago* (1992). - Boxill. *Unearthing black entrepreneurship in the Caribbean* (2003). - Karagiannis, Clayton, Bailey. *Developmental Interventions in the Caribbean* (2015). - **Entrepreneurship & Economic Growth:** - Wennekers, Thurik. *Linking Entrepreneurship and Economic Growth* (1999). - Thurik, Wennekers. *Entrepreneurship, small business and economic growth* (2004). - van Stel, Carree, Thurik. *The Effect of Entrepreneurial Activity on National Economic Growth* (2005). - Hébert, Link. *In search of the meaning of entrepreneurship* (1989). - Coad. *The Growth of Firms: A Survey of Theories and Empirical Evidence* (2009). - **SME Barriers & Constraints:** - Coad, Tamvada. *Firm growth and barriers to growth among small firms in India* (2011). - Fumo, Jabbour. *Barriers faced by MSEs: evidence from Mozambique* (2011). - Krasniqi. *Barriers to Entrepreneurship and SME Growth in Transition: The Case of Kosova* (2007). - Olawale, Garwe. *Obstacles to the growth of new SMEs in South Africa* (2010). - Yao. *What are the biggest obstacles to growth of SMEs in developing countries?* (2016). - Lyee, Cowling. *Do Rural Firms Perceive Different Problems?* (2014). - **Finance & Access to Credit:** - Moore, Craigwell. *Market Power and Interest Rate Spreads in the Caribbean* (2002). - Bonaccorsi di Patti, Gobbi. *The changing structure of local credit markets* (2001). - Banerjee, Karlan, Zinman. *Six Randomized Evaluations of Microcredit* (2015). - Beck, Demirgüç‐Kunt, Maksimovic. *Bank Competition and Access to Finance* (2004). - Beck, Demirgüç‐Kunt, Laeven, Maksimovic. *The determinants of financing obstacles* (2006). - Ogawa, Park, Singh, Thacker. *Financial Interconnectedness and Financial Sector Reforms in the Caribbean* (2013). - La Porta, López‐de‐Silanes, Shleifer. *Government Ownership of Banks* (2002). - **Internationalization & Innovation:** - Dunning. *Reappraising the Eclectic Paradigm in an Age of Alliance Capitalism* (1995). - Omer, van Burg, Peters, Visser. *Internationalization as a "Work-Around" Strategy* (2015). - Hessels, Parker. *Constraints, internationalization and growth* (2012). - Love, Roper. *SME innovation, exporting and growth* (2015). - **Workforce & HR:** --- 📄 Full source: https://doi.org/10.1080/08985626.2018.1515821

# Constraints and Opportunities for Employment and Entrepreneurship in the Caribbean Region **Program:** Strengthening Caribbean Economic Growth (SCEG), U.S. Department of State-funded **Date:** August 2025 | **Authors:** Sasha Muench and Deborah Gordon **Target Jurisdictions (12):** Antigua & Barbuda, Bahamas, Barbados, Dominica, Dominican Republic, Grenada, Jamaica, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago. ## 1. Context & Methodology The SCEG program aims to improve job skills, employment, and livelihood outcomes for individuals aged 16+ via a small-grant challenge. Research included a macro-level market constraints review (ILO, World Bank, IDB data) and a Knowledge, Attitudes, and Practices (KAP) survey. * **Economic Diversity:** Populations range from 47,000 (St. Kitts) to 11.3M (Dominican Republic). Median GDP per capita is $12,027 (vs. $85,810 in the US). * **KAP Survey Limitations:** 191 respondents (target was 385). Skewed demographics: 81% female, 82% over 35, 86% secondary+ education. Trinidad, St. Lucia, and Dominica comprised 56% of responses despite being 8.5% of the regional population. Findings indicate high-level trends but are not statistically generalizable. ## 2. Key Findings ### 2.1 Small Island Economies (SIDS) All 12 jurisdictions are SIDS, dependent on imports and vulnerable to global price fluctuations, tariffs, and high transportation costs. * **Growth & Debt:** High government debt, low private sector investment, and low productivity plague the region. * **Brain Drain:** Up to **68% of the population with post-secondary education** emigrates (primarily to US/UK), causing a severe skilled worker shortage. Net effect of migration on growth is negative. * **Aging Population:** Annual population growth fell from 0.61% (2000) to 0.37% (2023). ### 2.2 Tourism Tourism contributes 11-22% of regional GDP. In 2019, it directly employed 18% of the labor force and indirectly sustained another 43.1%. * **Demographics:** Women make up 57–70% of hospitality/F&B workers. The Caribbean holds 5 of the top 10 global spots for direct youth employment in travel/tourism. * **Job Quality:** *"Most jobs in the sector remain precarious, low-paid, informal, and highly gender segregated."* High turnover, low retention, few career pathways. * **Leakage:** Local spend per tourist is low ($712 vs $1,428 in the Pacific) due to reliance on cruises/all-inclusive resorts. Need to strengthen local supply chains and digital/sustainable tourism capacity. [... additional sections omitted for brevity ...] --- 📄 Full source: https://europe.mercycorps.org/sites/default/files/2026-01/sceg-market-constraints-and-opportunities-report.pdf

# Saving for a Stormy Day? The Jamaican Government Savings Bank and the Precautionary Savings Motive **Source:** Financial History Review, 2024 | **DOI:** https://doi.org/10.1017/s0968565024000143 ## Authors - **Nekeisha Spencer** — University of the West Indies Mona (h-index 11; 350 citations) - **Eric Strobl** — University of Bern & University of Birmingham (h-index 41; 7,242 citations) **JEL Classification:** N16, Q54, E21 | **Keywords:** precautionary savings motive, hurricanes --- ## Core Research Question Did the Government Savings Bank of Jamaica (GSB) serve as a **precautionary savings vehicle** for the poor after negative income shocks (hurricanes)? ## Key Finding > *"Our results show little evidence of a precautionary savings motive by GSB account holders in that while net account balances and deposits drop after hurricanes, withdrawals and the number of accounts closed also fall."* **The findings suggest GSB savings were more likely used to finance non-necessary future expenditures** rather than as a buffer against income shocks. --- ## Historical Background [... additional sections omitted for brevity ...] --- 📄 Full source: https://doi.org/10.1017/s0968565024000143

# Summary: A Comparison of Saving Rates — Micro Evidence from 17 LAC Countries **Author:** Néstor Gándelman (Universidad ORT Uruguay) **Series:** IDB Working Paper Series No. 602 (2015) **JEL:** C81, D12, D14, D91, E21 **DOI:** https://doi.org/10.18235/0011701 --- ## Key Findings > "The results suggest that the difference in national saving rates between LAC 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 educational levels. Other demographic or income distribution differences are not quantitatively important as explanations of saving rates." ### Three Main Decomposition Sources of Saving Rate Differences 1. **Saving behavior** — differences in saving decisions between similar individuals across countries 2. **Population distribution** — differences in demographic/education composition 3. **Income distribution** — differences in income share across groups --- ## Context & Motivation - **LAC gross national savings:** ~20% of GDP (2012), well below East Asia/Pacific (40%) and South Asia (30%) - LAC is heterogeneous: Bolivia 26% vs. Paraguay 9% (2012) - Most prior studies use macroeconomic data; this paper uses **micro data** from household income/expenditure surveys - **Benchmark economies:** United States (low savings, Anglo-Saxon culture) and Korea (high savings, Asian culture) --- ## Data - **17 LAC countries** + United States + Korea - Survey years range from **2003 to 2013** - Sources: National statistical institutes' income and expenditure surveys - Nicaragua: household-level data only - Some surveys are urban-only (Bahamas, Barbados, Chile, Nicaragua, Panama, Uruguay, Korea) [... additional sections omitted for brevity ...] --- 📄 Full source: https://doi.org/10.18235/0011701

A Comparison of Saving Rates: Microdata Evidence from Seventeen Latin American and Caribbean Countries | Economía LACEA Journal Skip to main content # Economía LACEA Journal # A Comparison of Saving Rates: Microdata Evidence from Seventeen Latin American and Caribbean Countries ## Research Authors - Néstor Gandelman ## 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 Year: 2016 Volume: 16 Issue: 2 Page/Article: 201-258 Published on Apr 1, 2016 Peer Reviewed All rights reserved

# Saving in Latin America and the Caribbean: Performance and Policies **Authors:** Francesco Grigoli, Alexander Herman, and Klaus Schmidt-Hebbel **IMF Working Paper No. 15/108 | May 2015 | Western Hemisphere Department** --- ## Abstract & Key Focus This paper analyzes saving patterns and determinants in LAC, adding previously neglected variables (TOT/commodity-price shocks, fiscal rules, monetary regimes, exchange-rate regimes) in linear and interaction forms. It tests statistical differences between LAC and the rest of the world using a nested econometric framework, and examines differences across three LAC subgroups. **JEL:** C23, E21, H30 | **Keywords:** consumption, private saving, public saving, Latin America --- ## I. Introduction & Motivation - **Well-documented correlation** between saving and growth performance globally - LAC exhibits **much lower private saving rates** than world average (~15.6% vs. 20.4% of GPDI) - Heterogeneity hidden within LAC: saving particularly low in smaller countries, volatile in countries subject to exogenous shocks (natural disasters, commodity price fluctuations) - After a decade of rapid commodity price growth, prices began falling since 2011 — warrants renewed analysis of TOT shocks on saving - LAC underwent major institutional/macroeconomic reforms (fiscal rules, inflation targeting, floating exchange rates) — **unclear extent to which these spurred private saving** ### Three Contributions 1. **Reviews** previous empirical research on private saving in LAC (26 studies), identifying contradictions and omissions 2. **Presents empirical results** with previously neglected variables (TOT/commodity-price shocks, policy regimes) in linear and interaction forms 3. **Analyzes statistical differences** in saving determinants between LAC and rest of world, and across three LAC subgroups --- ## II. Previous Empirical Literature for LAC [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.imf.org/external/pubs/ft/wp/2015/wp15108.pdf

# A Comparison of Saving Rates: Microdata Evidence from Seventeen Latin American and Caribbean Countries Economía, 2016. 6 citations. ## 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. ## Authors - Néstor Gándelman: h-index 20; 1,243 citations; corresponding author ## Topics Financial Literacy, Pension, Retirement Analysis, Income, Poverty, and Inequality, Fiscal Policy and Economic Growth, Microdata (statistics), Latin Americans

# The Caribbean Playbook: Nonprofit-to-Investment Strategy for Local Tech Leaders ## Core Insight > "Trust is the scarcest resource in any emerging ecosystem, and institutions are the most efficient way to build it at scale." - An individual entrepreneur faces an uphill climb raising money, building government relationships, or attracting partners - A well-structured organization with a clear mission, credible board, visible impact, and track record can accomplish in **months** what an individual might take **years** to achieve - **The nonprofit/social enterprise is the trust vehicle. The commercial opportunity is what that trust unlocks.** ## Why Caribbean Leaders Should Do This - The strategy isn't proprietary — requires no special license - In a region where external capital has historically **extracted more value than it left behind**, a Caribbean-owned version is necessary - Caribbean leaders have deeper relationships, authentic mission alignment, cultural credibility, and urgency ## Step-by-Step Framework ### Step 1: Choose Your Mission Authentically > "Communities are not naive. A hollow 'foundation' with no genuine impact will be seen through quickly." **Mission areas aligned with commercial opportunities:** | Mission | Commercial Entry Point | |---------|----------------------| | Digital skills & education | Surfaces tech talent, builds founder pipeline | | Agricultural tech & food security | Entry into agritech market | | Fintech literacy & financial inclusion | Maps the unbanked population | | Climate resilience & green infrastructure | Positions for climate finance/impact investing | | Creative economy development | Enters music, media, content markets | - Pick a mission you genuinely care about; commercial opportunity should feel like a **natural extension**, not a contradiction [... additional sections omitted for brevity ...] --- 📄 Full source: https://www.siliconcaribe.com/2026/05/25/the-caribbean-playbook-how-local-tech-leaders-can-use-the-nonprofit-to-investment-strategy-to-build-real-wealth/