Essential elements of the ECLAC Caribbean Resilience Fund : a segregated portfolio trust fund. Policy Brief

Abstract

Declining economic growth and competitiveness, the impact of the 2007–2009 global financial crisis, and the challenge of climate change and extreme weather events have hindered the sustainable development of Caribbean economies, the generation of sustained welfare gains and the achievement of key Sustainable Development Goals (SDGs). Moreover, the COVID-19 pandemic has exacerbated the subregion’s vulnerability to the vagaries of global aggregate demand and commodity prices, which have largely driven the subregion’s debt upwards and dampened economic growth before its onset, compromising its economic performance and further decelerating the subregion’s growth in 2020.