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Thursday, March 30 2017 @ 12:38 AM AST

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Dominican Republic economy grew 6.6% in 2016, 5% expected in 2017



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Barbadians saving less, banks catering for more bad loans

From the Central Bank of Barbados Financial Stability Report 2016 released March 16, 2017

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Grenada now one of Caribbean's fastest growing economies

Grenada is now one of the Caribbean's fastest growing economies, according to the International Monetary Fund (IMF) statement at the end of a staff visit yesterday (March 22).

IMF Mission Chief Nicole Laframboise said: "Real gross domestic product (GDP) is estimated to have expanded by 3.9 per cent in 2016, implying annual real GDP growth of 5.8 per cent on average from 2014-2016. Activity in 2016 was driven by tourism, construction, and some pick up in domestic demand, while agriculture experienced weather-related contraction. Growth is expected to moderate to 2.5 per cent in 2017, near its estimated potential. Average consumer price index (CPI) inflation rose to 1.7 per cent in 2016 and is forecast at 2.6 per cent in 2017 as oil and food prices start to rise. With steady tourism momentum, the external position remains stable."

She said the Grenada Government spends within its means. She said" "The Government achieved a primary surplus (fiscal balance excluding interest payments) in 2016 of 5.3 per cent of GDP. Expenditures were kept under firm control, and tax revenues performed well across all categories, driven by improvements in compliance and administration as well as robust activity."

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Cayman National dividend payout up 50%

At its annual general meeting (AGM) held on March 16, 2017, the Board of Directors of Cayman National Corporation Ltd. (CSX: CNC) KY recommended a final dividend of five cents per share (CI$0.05) be paid to shareholders, (with an interim dividend of CI$0.05 per share having already been paid on October 12, 2016). At the AGM, shareholders approved payment of that final dividend. The final dividend will be paid to shareholders on April 11, 2017 to shareholders of record as at March 31, 2017.


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Cayman Islands starts tyre-recycling business

The shredding of more than half a million stockpiled tyres began officially at George Town landfill this morning (Tuesday, 21 March 2017).