Caribbean Quarterly Bulletin: Volume 10: Issue 2, August 2021

2021 ◽  
Author(s):  
Henry Mooney ◽  
David Rosenblatt ◽  
Cloe Ortiz de Mendívil ◽  
Gralyn Frazier ◽  
Ariel McCaskie ◽  
...  
Keyword(s):  
Financial Sector ◽  
Regional Economies ◽  
Development Bank ◽  
Medium Term ◽  
Vaccination Programs ◽  
Macroeconomic Variables ◽  
Key Sectors ◽  
Local Services ◽  
Containment Measures ◽  
The Caribbean

For more than a year, the Caribbean economics team at the Inter-American Development Bank (IDB) has focused on the potential implications of the COVID-19 pandemic for lives and livelihoods across the region. The pandemic is still with us, but there is hope that the cycles of lockdowns and containment measures will eventually come to an end as vaccination programs progress, even if unevenly, across the region. However, the availability of vaccine supply remains a concern, and the pandemic continues to pose a constraint for the recovery of key sectors such as tourism and local services sectors. This edition of the Caribbean Quarterly Bulletin focuses on two topics: (1) forecasts of key macroeconomic variables, based on the April 2021 WEO, and (2) financial sector risks. In general, regional economies are embarking on a fragile path to recovery. Continued progress with vaccination programs, credible medium-term fiscal programs, and continued attention to financial vulnerabilities will be needed to push that path to recovery forward.

scholarly journals Banking Sector Competition and Financial Development in Sub-Saharan Africa

2020 ◽  
Vol 5 (3) ◽  
pp. 58-85
Author(s):  
Charles K. Ricky-Okine ◽  
Twum Amankwaa ◽  
Emmanuel Anane
Keyword(s):  
Financial Development ◽  
Fixed Effects ◽  
Banking Sector ◽  
Financial Sector ◽  
Sub Saharan Africa ◽  
Annual Data ◽  
Development Bank ◽  
Full Sample ◽  
Macroeconomic Variables ◽  
Sub Saharan

The study sort to establishing a relationship between banking sector competition and financial development in subSaharan n Africa. The study further disaggregated the data used into Francophone and Anglophone countries, and these were examined separated and compared. Using an annual data on banks across 37 countries in Sub-Saharan Africa spanning the period 2001-2016 and employing the Fixed Effects estimation technique, the study revealed that there is a positive and significant relationship between financial development (FDCredit) and competition (CR3) for the full sample and the anglophone samples. The study further revealed that banking sector stability is essential for the financial development of both Anglophone and francophone countries within the sub-region. Macroeconomic variables did not have any impact on financial development generally except in francophone countries where exchange rates were found to have an impact on financial development. Bank-level variables such as ZSCORE, non-performing loans, profitability, liquidity and capitalization, on the hand had little impact in Anglophone countries on financial development compared to francophone countries. The study found that larger banks contribute positively to the development of the financial sector and banks tend to be bigger in Anglophone countries, and their banking sector is also more competitive than the francophone countries for the period used. Less emphasis should be placed on bank-level variables as these do not have significant impacts on the financial sector for Anglophone countries. Francophone countries should, however, control bank-level variables to ensure that they achieve greater financial development. Citation: Ricky-Okine, C. K., Amankwaa, T.and Anane, E.Banking Sector Competition and Financial Development in Sub-Saharan Africa,2020; 5(3): 58-85. Received: July 18, 2020Accepted: September 30, 2020

Inter-American Development Bank Sustainability Report 2020

2021 ◽  
Author(s):  
Keyword(s):  
Corporate Sustainability ◽  
Development Bank ◽  
Core Element ◽  
Climate Change Risk ◽  
Sustainable Infrastructure ◽  
The Sustainable Development ◽  
Poverty And Inequality ◽  
The Caribbean ◽  
Sustainability Report

Sustainability is a core element of the IDBs work. Long-term economic growth, and the reduction of poverty and inequality in Latin America and the Caribbean depend on development that is economically, financially, environmentally, socially, and institutionally sustainable. The IDBs annual Sustainability Report presents our approach to sustainability and showcases operations and research that are contributing to the sustainable development of the region. The report also presents key data, detailing the greenhouse gas (GHG) footprint of our lending portfolio, the climate finance we provide, disaster and climate change risk in our projects, and the application of our environmental and social policies. The report also covers our corporate sustainability efforts and how we work to reduce our direct footprint where we live and work. The theme for the 2020 Sustainability Report is making the recovery from COVID-19 green and inclusive, exploring the IDBs work on digitalization, inclusive and sustainable infrastructure, developing next-generation skills and jobs, and Costa Ricas groundbreaking decarbonization efforts.

IDB Group and Climate Action

2021 ◽  
Author(s):  
Keyword(s):  
Climate Change ◽  
Latin American ◽  
Paris Agreement ◽  
Climate Finance ◽  
Development Bank ◽  
Multilateral Development Banks ◽  
Climate Action ◽  
The Caribbean ◽  
Development Banks ◽  
Bank Group

As one of the leading development partners for Latin American and the Caribbean (LAC), the Inter-American Development Bank Group (IDB Group) is fully committed to lead by example on climate change action. Since the signing of the Paris Agreement, the IDB Group has provided over $20 billion in Climate Finance, amounting to about 60% of all Climate Finance to the region from Multilateral Development Banks (MDBs).

Spotlight: 21st Century Skills in Latin America and the Caribbean

2021 ◽  
Author(s):  
Christopher Petrie ◽  
Clara García-Millán ◽  
María Mercedes Mateo-Berganza Díaz
Keyword(s):  
Latin America ◽  
21St Century ◽  
21St Century Skills ◽  
Economic Conditions ◽  
Development Bank ◽  
Learning Context ◽  
Long Run ◽  
The World ◽  
The Caribbean ◽  
Insight Into

There is a wealth of conversation around the world today on the future of the workplace and the skills required for children to thrive in that future. Without certain core abilities, even extreme knowledge or job-specific skills will not be worth much in the long run. To address these issues, the Inter-American Development Bank (IDB) and HundrED conducted this Spotlight project with the goal of identifying and researching leading innovations that focus on 21st Century Skills in Latin America and the Caribbean. The Spotlight program was supported by J.P. Morgan. The purpose of this project is to shine a spotlight, and make globally visible, leading education innovations from Latin America and the Caribbean doing exceptional work on developing 21st Century Skills for all students, teachers, and leaders in schools today. The main aims of this Spotlight are to: Discover the leading innovations cultivating 21st century skills in students globally; understand how schools or organizations can implement these innovations; gain insight into any required social or economic conditions for these innovations to be effectively introduced into a learning context; celebrate and broadcast these innovations to help them spread to new countries. All the findings of the Spotlight in 21st Century Skills are included in this report.

scholarly journals Oil Price and Stock Prices of EU Financial Companies: Evidence from Panel Data Modeling

Energies ◽  
2019 ◽  
Vol 12 (21) ◽  
pp. 4072 ◽  
Author(s):  
Alexandra Horobet ◽  
Georgiana Vrinceanu ◽  
Consuela Popescu ◽  
Lucian Belascu
Keyword(s):  
Panel Data ◽  
Crude Oil ◽  
Stock Prices ◽  
Financial Sector ◽  
Oil Price ◽  
Real Economy ◽  
Macroeconomic Variables ◽  
Long Run ◽  
Oil Price Risk ◽  
The Eu

Crude oil is an indispensable resource for the world economy and European Union (EU) countries are strongly dependent on oil imports. In a framework defined by generally positive correlations between oil and stock prices, the paper investigates the relationship between financial companies’ stock prices and crude oil price using a sample of major financial companies headquartered in the EU. The link between stock prices and oil price risk is modelled using a set of macroeconomic variables that includes local stock market indices, the EUR/USD exchange rate, the oil imports dependency, inflation rate, and global volatility indices. We employ panel data as the base econometric model and an ARDL extension that is more appropriated for our research objectives. Our findings show that the EU financial sector is pervasively exposed to oil price changes over the long-run and this exposure is a component of financial companies’ exposure to real economy risk factors, which points towards the key role of the financial sector in the EU economy in transmitting systemic shocks. At the same time, we detect signs of a different behavior of market investors over the short-versus the long-run concerning the valuation of financial companies’ stock prices in relation to oil price and other macroeconomic variables, which raises distressing challenges for financial authorities.

Standards and Codes - Implementing the Fund's Medium-Term Strategy and the Recommendations of the 2005 Review of the Initiative

Policy Papers ◽  
2006 ◽  
Vol 2006 (36) ◽  
Author(s):  
Keyword(s):  
World Bank ◽  
Technical Assistance ◽  
Financial Sector ◽  
Executive Directors ◽  
Medium Term ◽  
Assessment Program ◽  
Use Of Resources

This paper informs Executive Directors of the operational changes that are being made to the Fund’s work on Standards and Codes, to implement the Fund’s Medium-Term Strategy (MTS) and the recommendations of the 2005 IMF-World Bank review of the Standards and Codes Initiative. The changes aim at improving (i) the country coverage and prioritization of Reports on the Observance of Standards and Codes (ROSCs) to make more efficient use of resources, (ii) the integration of ROSCs with Fund surveillance and technical assistance, for a better use of ROSC findings and greater support of reform efforts, and (iii) the clarity and timeliness of ROSCs. The paper focuses on the actions that are being taken and does not elaborate on the rationales for the corresponding recommendations, which were discussed by Directors in the context of the MTS and 2005 Review. The actions being taken are summarized in Table 1. Many of the actions do not apply to ROSCs carried out under the aegis of the Financial Sector Assessment Program (FSAP), which are typically subject to a separate set of procedures under the FSAP, or to financial sector ROSCs of Offshore Financial Centers, which are conducted separately. According to the proposals in the MTS, the next review of the Standards and Codes Initiative would take place in 2010.

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