Caribbean Energy: Macro-Related Challenges

Author/Editor:

Arnold McIntyre ; Ahmed El-Ashram ; Márcio Valério Ronci ; Julien Reynaud ; Natasha X Che ; Ke Wang ; Sebastian Acevedo Mejia ; Mark Scott Lutz

Publication Date:

March 8, 2016

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.

Series:

Working Paper No. 2016/053

Subject:

Economic sectors Energy prices Energy sector Environment Oil prices Prices Public debt Renewable energy

English

Publication Date:

March 8, 2016

ISBN/ISSN:

9781513560908/1018-5941

Stock No:

WPIEA2016053

Pages:

67

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