December 20, 2024 Mexico's central bank lowered its benchmark interest rate by 25 basis points to 10.00% on Thursday, signaling that larger rate cuts could be considered in future meetings due to progress on inflation in Latin America's second-largest economy. The unanimous decision by the Bank of Mexico's five-member governing board marks the fifth rate
December 20, 2024 Barbados has secured a fresh injection of US$56 million (BDS$112 million) from the International Monetary Fund (IMF) after surpassing expectations in its fourth programme review, signaling strong economic growth and impressive strides in climate resilience initiatives. The funds come as the country continues to impress international partners with its homegrown economic recovery
December 17, 2024 The Statistical Institute of Jamaica (STATIN) reported that for November 2024, the point-to-point inflation rate was +4.3%; 0.6 percentage points lower than the 4.9% recorded between October 2023 and October 2024. Compared to October 2024, The All-Jamaica Consumer Price Index (CPI) for November 2024 increased to 141.9, reflecting a 1.0% inflation rate.
December 12, 2024 Haiti is grappling with an unprecedented multidimensional crisis that spans humanitarian, economic, social, and security challenges. The economy is hindered by a low tax base and a large informal sector, heavily dependent on volatile remittance flows. Since the last Article IV consultation in 2019, Haiti has endured a series of shocks, including
December 12, 2024 The 2024 Latin American Economic Outlook (LEO) emphasizes that Latin American and Caribbean (LAC) countries need to enhance tax collection, optimize public spending, improve debt management, and attract more private investment to finance their ambitious development goals. The report highlights a sustainable financing gap of USD 99 billion annually, which can be
December 10, 2024 Panama's fiscal deterioration in 2024 exceeded the worst-case scenarios predicted by two risk agencies assessing the country's finances and indebtedness. Fitch Ratings, which withdrew the country's investment grade rating last March, recently projected that debt will end the year representing 63% of gross domestic product (GDP), while interest payments will be equivalent
December 09, 2024 The seasonally adjusted unemployment rate for the euro area was 6.3% in October 2024, down from 6.6% in October 2023 but constant from September 2024. In October 2024, the unemployment rate in the EU was 5.9%, a decrease from 6.1% in October 2023 but stable compared with September 2024. Eurostat estimates that 12.971 million persons
December 9, 2024 Net International Reserves – November 2024 BOJ has reported that Jamaica's Net International Reserves as at November 30, 2024 stood at US$5,408.51 million, reflecting a decrease of US$187.03 million when compared to the US$5,595.55 million reported at the end of October 2024. Foreign Assets totalled US$5,475.56 million, US$187.94 million less than the
December 6, 2024 The National Commission on Minimum Wages (CONASAMI) has approved a 12% increase to the general minimum wage, raising it from MX$248.93 to MX$278.80 per day starting January 1, 2025. This unanimous decision by representatives from business, labor unions, and the government on December 3 signals a broad agreement on addressing wage growth
December 6, 2024 According to the U.S. Bureau of Labor Statistics, total nonfarm payroll employment rose by 227,000 in November, and the unemployment rate changed little at 4.2 percent. Notably, employment trended up in health care, leisure and hospitality, government, and social assistance, while retail trade lost jobs. The U.S. Bureau of Labor Statistics reported
