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This policy brief defines the challenges of conducting appropriate fiscal policy
over the past 20 years in four Caribbean countries (The Bahamas, Barbados,
Suriname, and Trinidad and Tobago) and reviews international financial
institutions’ technical assistance and advice on tax and expenditures policies.
over the past 20 years in four Caribbean countries (The Bahamas, Barbados,
Suriname, and Trinidad and Tobago) and reviews international financial
institutions’ technical assistance and advice on tax and expenditures policies.
The review finds that national authorities usually agree with the policy
recommendations of the international financial institutions in most areas but
disagree with the pace and scale of policy implementation. Moreover, delays in
implementing required policy action at a suitable pace in many instances may
have contributed to a procyclical fiscal stance and worsened the region’s fiscal
accounts. In future designs of technical assistance, some Caribbean-specific
features need to be taken into account. The authors analyze current conditions
and provide viable recommendations.Detail Report
recommendations of the international financial institutions in most areas but
disagree with the pace and scale of policy implementation. Moreover, delays in
implementing required policy action at a suitable pace in many instances may
have contributed to a procyclical fiscal stance and worsened the region’s fiscal
accounts. In future designs of technical assistance, some Caribbean-specific
features need to be taken into account. The authors analyze current conditions
and provide viable recommendations.Detail Report
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