The economies of the subregion were hard hit by the COVID-19 pandemic, particularly those dependent on tourism. As a result, the Caribbean has seen a reversal of the hard-won gains achieved in growing their economies and reducing unemployment and inequality. The inflation stemming from pandemic supply chain disruption, which has been exacerbated by the war in Ukraine, has made the sustained uptick in economic performance beyond pre-pandemic levels unlikely, notwithstanding strong growth estimates for 2021 and 2022. The last two years have taught the region that continued ‘business as usual’ is…
Declining economic growth and competitiveness, the impact of the 2007–2009 global financial crisis, and the challenge of climate change and extreme weather events have hindered the sustainable development of Caribbean economies, the generation of sustained welfare gains and the achievement of key Sustainable Development Goals (SDGs). Moreover, the COVID-19 pandemic has exacerbated the subregion’s vulnerability to the vagaries of global aggregate demand and commodity prices, which have largely driven the subregion’s debt upwards and dampened economic growth before its onset, compromising its ec…
Representatives of Latin American and Caribbean countries urged for a paradigm shift in international financing that would allow for immediate responses to the effects of the coronavirus (COVID-19) pandemic to be provided and for sustainable development to be achieved in the region, during today’s virtual meeting of the thirty-fifth session of the Committee of the Whole of the Economic Commission for Latin America and the Caribbean (ECLAC).
On this occasion, Cuba handed the Presidency Pro Tempore over to Costa Rica, which will hold this position for the next two years.
The meeting – in which 3…
Representantes de los países de América Latina y el Caribe instaron hoy a un cambio de paradigma en materia de financiamiento internacional que permita dar respuesta inmediata a los efectos de la pandemia del coronavirus (COVID-19) y alcanzar el desarrollo sostenible en la región, durante la reunión virtual del trigésimo quinto período de sesiones del Comité Plenario de la Comisión Económica para América Latina y el Caribe (CEPAL).
En la ocasión, Cuba traspasó la Presidencia Pro Témpore a Costa Rica, país que ejercerá este cargo por los próximos dos años.
La reunión, en la que participaron 37 …
The Caribbean subregion is exceptionally vulnerable to the impacts of climate change and extreme weather events. Vulnerability is a key multidimensional concept at the heart of resilience building, relating to each country’s multiple spatial and socioeconomic risks and conditions. In fact, due to its geographical location and concentration of population and activities in low-lying coastal areas, the Caribbean is the second most hazard-prone region in the world...Moreover, impacts of extreme weather events on Caribbean small economies are of national proportions. For example, in the hurricane s…
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