Caribbean Renewal: Tackling Fiscal and Debt Challenges

By Charles Amo Yartey, Therese Turner-Jones

May 6, 2014

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Charles Amo Yartey, and Therese Turner-Jones. Caribbean Renewal: Tackling Fiscal and Debt Challenges, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

Subject: Asset and liability management, Debt reduction, Expenditure, Fiscal consolidation, Fiscal policy, Fiscal rules, Fiscal stance, Public debt

Keywords: Africa, BOOK, Caribbean, Commodity-exporting country, Debt accumulation, Debt level, Debt reduction, Debt reduction, Debt restructuring, Europe, Fiscal consolidation, Fiscal rules, Global, Spending multiplier

Publication Details

Pages:

314
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Books
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FDCCEA
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