Weathering Coronavirus Storm in Caribbean
(Inter-American Development Bank) “This is completely a black swan event. No one saw it coming. It’s affecting every single person on the planet, and we have to muster up courage, first of all, to do the right thing, especially for people who are absolutely desperate and need our help,” says Therese Turner-Jones, general manager of the IDB’s Caribbean Country Department.
Caribbean countries have had to weather many storms in the past, but none that unleashed impacts quite like the coronavirus pandemic. Alongside the lives at stake are millions of livelihoods, and understanding the economic forces at work is essential to planning a way forward for the region.
“Our region is pretty much just climbing out of the recession in 2020. It has taken us a long time to really catch some air, really feel our economies again, and now we are hit with another whammy,” says Turner-Jones.
“We have a crisis that is presenting itself with innumerable ways to reflect and think about doing things differently and we really have to take this seriously. It’s not going to be business as usual.”
Economists at the IDB have been closely tracking the virus’s effects on the region and its economies to provide a basis for needed responses. A newly published report sheds light on potential economic implications for the Bank’s six Caribbean member countries: The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago.
Read more at: Inter-American Development Bank