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The Caribbean Outlook 2018

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The Caribbean Outlook 2018 TheCaribbean 2018 Outlook Thank you for your interest in this ECLAC publication ECLAC Publications Please register if you would like to receive information on our editorial products and activities. When you register, you may specify your particular areas of interest and you will gain access to our products in other formats. www.cepal.org/en/suscripciones TheCaribbean 2018 Outlook Alicia Bárcena Executive Secretary Mario Cimoli Deputy Executive Secretary a.i. Raúl García-Buchaca Deputy Executive Secretary for Management and Programme Analysis Diane Quarless Chief of the ECLAC subregional headquarters for the Caribbean Ricardo Pérez Chief, Publications and Web Services Division This document was coordinated by Diane Quarless and Dillon Alleyne, Chief and Deputy Chief, respectively, of the subregional headquarters for the Caribbean of the Economic Commission for Latin America and the Caribbean (ECLAC), with the collaboration of Daniel Titelman, Chief of the Economic Development Division at ECLAC headquarters, and Esteban Pérez, Chief of the Financing for Development Unit of the Economic Development Division at ECLAC headquarters. The drafting committee comprised Diane Quarless, Daniel Titelman, Dillon Alleyne, Esteban Pérez, Michael Hendrickson, Omar Bello, Sheldon McLean, Abdullahi Abdulkadri, Lydia Rosa Gény and Willard Phillips. The following ECLAC consultants provided invaluable inputs for the preparation of the document: Eduardo Ali, Adrián Flores-Aguilar and Ransford Smith. United Nations publication LC/SES.37/14/Rev.1 Distribution: General Original: English Copyright © United Nations, 2018 All rights reserved Printed at United Nations, Santiago S.18-00607 This publication should be cited as: Economic Commission for Latin America and the Caribbean (ECLAC), The Caribbean Outlook, 2018 (LC/SES.37/14/Rev.1), Santiago, 2018. Applications for authorization to reproduce this work in whole or in part should be sent to the Economic Commission for Latin America and the Caribbean (ECLAC), Publications and Web Services Division, [email protected]. Member States and their governmental institutions may reproduce this work without prior authorization, but are requested to mention the source and to inform ECLAC of such reproduction. Contents Foreword ..................................................................................................................................................................... 5 Abstract ....................................................................................................................................................................... 7 I. From vulnerability to resilience: creating the Caribbean future we want .................................................. 9 A. Background........................................................................................................................................................ 9 B. Main challenges.............................................................................................................................................. 10 C. Towards sustainable development ................................................................................................................. 12 1. Embedding development frameworks: congruence and challenges ....................................................... 12 2. Regional integration for sustainable development ................................................................................. 13 3. Cross-cutting issues: keys to implementing development frameworks .................................................. 14 4. Partnerships for sustainable development .............................................................................................. 20 D. Summary ......................................................................................................................................................... 22 II. The Caribbean economy: from constraints to opportunities ...................................................................... 23 A. Growth performance ....................................................................................................................................... 23 B. Structural imbalances ..................................................................................................................................... 24 1. Trade ........................................................................................................................................................ 24 2. Debt, de-risking and offshore financial centres ...................................................................................... 26 3. Fiscal situation ......................................................................................................................................... 33 C. Competitiveness and the Caribbean ............................................................................................................... 34 1. Skills development ................................................................................................................................... 35 2. Sustainable energy .................................................................................................................................. 37 3. Infrastructure............................................................................................................................................ 38 4. Private sector development ..................................................................................................................... 41 D. Value chains: forging regional links................................................................................................................ 42 E. The Caribbean and the blue economy ............................................................................................................ 44 F. The Caribbean and the creative industries ..................................................................................................... 46 G. Summary and recommendations .................................................................................................................... 48 III. Social development: a path to empowerment and inclusion ...................................................................... 49 A. Addressing poverty, social exclusion and inequalities .................................................................................. 49 B. Advancing women’s empowerment and autonomy: an objective of sustainable social development and part of the solution towards achieving it................................................................................................. 53 C. Human capital development, education and capacity-building as a central pillar of social inclusion and progress towards equality ....................................................................................................................... 56 1. Education systems: performance and quality issues .............................................................................. 58 2. Resourcing issues for education systems ............................................................................................... 60 3. Delinquency issues facing education and human capital development ................................................. 61 4. Workforce mobility and development: labour market and employment issues ...................................... 63 5. Prospects for Caribbean human capital development and related strategies ........................................ 67 D. Two age groups in focus: youth and older persons to benefit better from the potential of intergenerational ties ................................................................................................................................. 69 E. Social protection: catalyst for sustainable development ............................................................................... 74 Economic Commission for Latin America and the Caribbean (ECLAC) F. Non-communicable diseases (NCDs) in the Caribbean .................................................................................. 76 G. Summary and recommendations .................................................................................................................... 80 IV. Environmental management: vulnerability, constraints and opportunities .............................................. 81 A. Climate change adaptation ............................................................................................................................. 81 1. Natural hazard vulnerability and resilience ............................................................................................. 83 2. Coastal economic activities ..................................................................................................................... 86 3. Protection of biodiversity ......................................................................................................................... 88 B. Water resources and solid waste management ............................................................................................ 89 1. Water resources....................................................................................................................................... 89 2. Solid waste management ........................................................................................................................ 91 C. Energy transition
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