IDB — Public Debt Nosedive In The Caribbean

A new report from the Inter-American Development Bank says public debt load in the Caribbean has fallen sharply to near pre-COVID-19 pandemic levels and it is urging regional governments to continue on the path of prudent debt management given uncertain global risks.

The publication reveals that the average debt to gross domestic product ratio rose from 75 percent in 2019 to 99 percent in 2020 and is estimated to have fallen to 77 percent at the end of 2023.

It said the sharpest declines were observed in Guyana between 2020 and 2022, and in Jamaica between 2010 and 2019.

“Dealing with Debt in the Caribbean,” part of the Caribbean Economics Quarterly report series, explores the economic realities caused by the most recent pandemic and the pathways towards safe levels of public debt for a sustained economic recovery.

The publication looks at debt management in The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad & Tobago.

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 Edited by Jesus Chan

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