CARIBBEAN SOVEREIGN DEBT: Shaky foundation

CARIBBEAN SOVEREIGN DEBT: Shaky foundation

Caribbean Jamaica Dominican Republic Trinidad & Tobago Bonds Corporate & Sovereign Strategy Economy & Policy

The Caribbean has long been a region of contradictions. Tropical beaches and a relaxed atmosphere may pull in tourists, but rather more worrisome macroeconomic imbalances have kept debt investors at arm’s length.The 2008 international financial crisis exacerbated the problems, as economies shrank and sovereign debt grew. Jamaica’s economy, for example, contracted 4.4% in 2009, one of the steepest post-crisis drops in Latin America.Over the past two years, a different story has begun to emerge. The IMF expects all Caribbean economies to expand in 2015, and countries like Jamaica and the Dominican Republic have started to bring their debt under control. More tourists are arriving, and the whol

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