The challenges of fiscal consolidation and debt reduction in the Caribbean

Charles Amo-Yartey, Machiko Narita, Garth Peron Nicholls, Joel Chiedu Okwuokei, Alexandra Peter ...

This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and t

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Year of publication:	2012
Authors:	Amo-Yartey, Charles ; Narita, Machiko ; Nicholls, Garth Peron ; Okwuokei, Joel Chiedu ; Peter, Alexandra
Publisher:	Washington, DC : Internat. Monetary Fund
Subject:	Öffentliche Schulden \| Public debt \| Schuldenmanagement \| Debt management \| Haushaltskonsolidierung \| Fiscal consolidation \| Karibischer Raum \| Caribbean countries