With the economic and social stresses of the pandemic receding, Caribbean economies are experiencing continued growth into 2024, according to a new report by the Inter-American Development Bank (IDB). After the strong economic recovery of 2021–2023, Caribbean economies continue to grow at a somewhat faster pace than the Latin America and the Caribbean region, though country circumstances vary. For example, economic growth in Guyana is expected to be over 30% this year, while tourism-oriented economies are expected to grow only 2.6%. At the same time, economies are experiencing diverging
The call will be open from May 20 to June 28, 2024 The Inter-American Development Bank Group (IDB Group) launched the seventh edition of the Superheroes of Development contest to recognize clients and executing institutions excelling in the successful resolution of challenges during the implementation stage of development projects. Superheroes of Development is a BIDAcademy initiative that rewards the best lessons learned from operations containing stories that have the potential of helping other initiatives attain effective implementation. Studying the challenging path that others have
The new series will explore inequality, how it intersects with factors including gender and race, and how it impacts access to education or employment. BIDAcademy, the knowledge and learning platform of the IDB Group – which consists of the Inter-American Development Bank (IDB), IDB Invest and IDB Lab – has kicked off "Rethinking Equality ." This new podcast series will analyze the causes of inequality in Latin America and the Caribbean, the reasons for its persistence, and ways to reduce it to build a better future. Over the series’ 12 episodes on the "Voices in Action" podcast , Ana María
PUNTA CANA, Dominican Republic — The Caribbean Governors of the Inter-American Development Bank Group (IDB Group) endorsed the “One Caribbean” program, a comprehensive framework designed to support enhancing living standards across the Caribbean region. The program focuses on four pillars: climate adaptation, disaster risk management and resilience; citizen security; private sector engagement; and food security, as well as two cross-cutting areas, strengthening institutions and facilitating digital transformation. The signing of this endorsement statement took place during the IDB and IDB
IDB Lab, the innovation laboratory of the Inter-American Development Bank (IDB) Group, will invest US$750,000 to support the Jamaican company Novamed to build Catalyst, the first health innovation accelerator and incubator in the Caribbean region. Health innovation is crucial to overcoming healthcare challenges in the Caribbean and improving access to quality care, creating opportunities to accelerate positive impact. Novamed’s focus on private sector-led healthcare innovation aims to improve the quality and affordability of care, which can benefit on a greater scale vulnerable populations and
Public debt load in the Caribbean has fallen sharply to near pre-pandemic levels, according to a new report by the Inter-American Development Bank (IDB), which urges governments to continue on the path of prudent debt management, given uncertain global risks. The publication reveals that the average debt-to-GDP ratio rose from 75% in 2019 to 99% in 2020 and is estimated to have fallen to 77% at the end of 2023. 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
The first cohort of climate accelerators in Latin America and the Caribbean have begun their training to promote climate solutions in the region in a program designed by IDB Lab, the innovation laboratory of the Inter-American Development Bank Group (IDB), and EIT Climate-KIC, a European innovation and knowledge community co-financed by the European Union and supported by the Clean Technology Fund . Twenty-eight entrepreneurship support organizations (ESOs) from Bolivia, Brazil, Chile, Colombia, Ecuador, Guatemala, Haiti, Honduras, Jamaica, Mexico and Peru are participating in a two-year
A virtual community connects Caribbean water utilities for real-time data sharing and cost savings The Inter-American Development Bank (IDB) has launched a pilot version of an innovative data-sharing platform within a virtual community for Caribbean water utilities. Through the platform, utilities can exchange real-time data on parts and materials, expediting mutual aid and ultimately cutting costs. Through Source of Innovation , the IDB has partnered with H2bid, Inc. to provide a one-year pilot version of this groundbreaking platform, which is powered by AURSI. The H2bid/AURSI platform is a
Report shares how to foster growth in the creative economy, which already accounts for 2.2% of the GDP of Latin America and the Caribbean. The Inter-American Development Bank (IDB) released 10 Years of Championing Culture and Creativity: The IDB's Commitment to Cultural and Creative Industries , a publication that lays out challenges, opportunities, and recommendations for making culture and creativity a cornerstone of economic recovery in Latin America and the Caribbean. The creative economy has among the highest growth rates of any sector of the region’s economy. It generates $124 billion in