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Caribbean Energy: Macro-Related Challenges

Arnold McIntyre, Ahmed El-Ashram, Márcio Ronci, Julien Reynaud, Natasha Che, Ke Wang, Sebastian Acevedo and Mark Lutz

No 2016/053, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; electric energy; oil price; Energy Reform; Oil Price Shocks; Caribbean; Economic Growth; Renewable Energy; Energy Efficiency; Public Investment; Infrastructure; Debt Sustainability; PPP; cost saving; core inflation; energy efficiency cost curve; financing terms; net exporter; recovery mechanism; generation cost assumption; fuel cost recovery mechanism; capital cost; oil price development; energy investment; Oil prices; Energy sector; Energy prices; Global (search for similar items in EconPapers)
Pages: 67
Date: 2016-03-08
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Citations: View citations in EconPapers (3)

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Handle: RePEc:imf:imfwpa:2016/053