{"id":11036,"date":"2022-12-21T08:44:29","date_gmt":"2022-12-21T12:44:29","guid":{"rendered":"https:\/\/drealfmgrenada.com\/?p=11036"},"modified":"2022-12-21T08:44:29","modified_gmt":"2022-12-21T12:44:29","slug":"idb-says-caribbean-should-brace-for-high-food-fuel-prices-and-rising-interest-rates-in-2023","status":"publish","type":"post","link":"https:\/\/drealfmgrenada.com\/index.php\/2022\/12\/21\/idb-says-caribbean-should-brace-for-high-food-fuel-prices-and-rising-interest-rates-in-2023\/","title":{"rendered":"IDB Says Caribbean Should Brace For High Food, Fuel Prices And Rising Interest Rates In 2023"},"content":{"rendered":"

CMC-<\/strong>Caribbean countries should prepare for prolonged effects of external economic shocks in 2023, including for high food and fuel prices and rising international interest rates, according to a new report from the\u00a0Inter-American Development Bank<\/a>\u00a0(IDB).<\/p>\n

It warned that higher interest rates could lead to economic slowdowns, or even recessions, in important source markets for exported services and goods from the Caribbean.<\/p>\n

The impact of these shocks depends on the trade structure of individual countries, as well as the external financing requirements of each country, according to the report, \u2018Headwinds Facing the Post-Pandemic Recovery.\u2019<\/p>\n

Among the report\u2019s key findings are that households and businesses are feeling the impact of\u00a0price increases.<\/p>\n

\u201cAlthough domestic inflation has been somewhat less severe in Caribbean countries, rising prices diminish real incomes for households and increase business costs for firms,\u201d it said, noting that online surveys from the World Food Program also suggest a sharp rise in food insecurity across the Caribbean.<\/p>\n

The annual inflation rate climbed to an average of eight percent by mid-summer in the Caribbean countries covered in the report, excluding Suriname, which has been coping with high inflation since the fall of 2020.<\/p>\n

Regional economic advisor for the IDB\u2019s Caribbean Department. David Rosenblatt expressed hope that the \u201cunfortunate external conditions will improve during 2023\u201d.<\/p>\n

\u201cAs with natural disasters, however, it always prudent to prepare for the worst, even as we hope for the best,\u201d he said.<\/p>\n

The authors of the report put forward several reform priorities, such as continued attention to fiscal consolidation and debt management on the macroeconomic dimension and targeted interventions to help households cope with the effects of rising food and fuel prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

CMC-Caribbean countries should prepare for prolonged effects of external economic shocks in 2023, including for high food and fuel prices and rising international interest rates, according to a new report from the\u00a0Inter-American Development Bank\u00a0(IDB). It […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":11037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[41],"tags":[],"class_list":{"0":"post-11036","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-regional-news"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=640%2C360&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=640%2C360&ssl=1",640,360,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg",640,360,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg",640,360,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=300%2C169&ssl=1",300,169,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=640%2C360&ssl=1",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=640%2C360&ssl=1",640,360,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?fit=640%2C360&ssl=1",640,360,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=640%2C360&ssl=1",640,360,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=640%2C360&ssl=1",640,360,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=640%2C360&ssl=1",640,360,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2022\/12\/food-transfer.jpg?resize=80%2C60&ssl=1",80,60,true]},"rttpg_author":{"display_name":"adminrfm","author_link":"https:\/\/drealfmgrenada.com\/index.php\/author\/adminrfm\/"},"rttpg_comment":0,"rttpg_category":"Regional News<\/a>","rttpg_excerpt":"CMC-Caribbean countries should prepare for prolonged effects of external economic shocks in 2023, including for high food and fuel prices and rising international interest rates, according to a new report from the\u00a0Inter-American Development Bank\u00a0(IDB). It [...]","_links":{"self":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/comments?post=11036"}],"version-history":[{"count":1,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11036\/revisions"}],"predecessor-version":[{"id":11038,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11036\/revisions\/11038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media\/11037"}],"wp:attachment":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media?parent=11036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/categories?post=11036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/tags?post=11036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}