Commodities

Although Venezuela is repressed for economic freedom and suffers from endemic corruption, possibilities of restructuring its significant debt pile have emerged. The economy remains massively reliant on oil and is slowing, whilst hyperinflation…

The US Virgin Islands has a good regulatory environment, which fosters business development. However, a lack of representation in the US is creating frustration amongst islanders. The economy is heavily dependent on tourism and post-pandemic recovery…

Stability and less corruption than peers are cornerstones of Uruguay’s political environment, whilst economic freedom is one of the best regionally. Drought will weigh on short-term economic development, owing to high dependence on agriculture, but…

Trinidad and Tobago is wealthy and stable; however, it is held back by a weak judiciary and high levels of corruption. Real GDP growth slowly recovered to pre pandemic pace, but oil and gas reserves will soon expire, hampering future growth. The…

Although economic freedom is slipping, the Dominican Republic enjoys political stability, but corruption remains endemic. Economic performance has been solid, but is slowing and remains dependent on tourism, whilst the country continues to attract…

Suriname remains among the ‘repressed’ countries in economic freedom ranking. The Coronavirus (COVID-19) pandemic has had a detrimental effect on the economy, which has also suffered from currency devaluation causing a spike in inflation. Whilst the…

St Vincent and the Grenadines enjoy political stability and low levels of corruption, but crime is rising. A small population that is hardly growing diminishes the appeal of the consumer market, whilst the populace is also ageing. Internet use is…

St Lucia’s stable and democratic island is challenged by endemic corruption and worsening labour freedoms. Economic growth recovered to pre-pandemic pace, but attempts at diversification need ramping up. Consumer expenditure is rising, but poverty…

St. Kitts and Nevis, a dual-island nation in the Caribbean, showcases political stability within a parliamentary democracy. Its economy hinges on tourism, agriculture, and a citizenship-by-investment program driving foreign investment. The country…

Dependence on the Netherlands for fiscal support is a source of uncertainty for Sint Maarten. Crime rates are high and the country’s sovereign credit has been downgraded. Excessive reliance on tourism caused a severe recession, given the impact of…

Puerto Rico, a US territory, grapples with economic challenges such as high unemployment and debt amid debates about its political status. Culturally diverse, the island faces social issues like poverty and emigration. Yet, initiatives in technology,…

Although political instability and corruption continue to be themes in Peru, economic freedom is the third best in South America. Inflation is falling, but the economy is slowing and copper exports could be hindered further, whilst uncertainty in the…

A weak rule of law and endemic corruption hamper economic freedom in Paraguay, although the tax burden remains very low and government finances are sustainable. In the medium term, the economy will outperform the regional average and inflation has…

Corruption undermines economic freedom in Panama and protests have been widespread, although state finances are strengthening. Economic momentum has slowed, but foreign investment is increasing and the Panama Canal continues to play an important role…

An authoritarian regime using violence has reduced peace in Nicaragua and caused political instability. Consequently, the economy has suffered a prolonged recession, which has been exacerbated by the Coronavirus (COVID-19) pandemic. A major trade…

Organised crime continues to negatively impact Mexico, owing to a weak rule of law, which is also beset by pervasive corruption, but government spending is a bright spot in economic freedom. The economy will continue to underperform peers, but…

Although Martinique does not suffer from undue corruption, its political environment has been prone to secessionist tendencies. Given that the economy is highly dependent on tourism, its recovery from the Coronavirus (COVID-19) pandemic remains slow.…

Although generally stable and democratic, Jamaica is failing to control organised crime and corruption. Economic growth swiftly returned after the pandemic, but the country is over-reliant on the US. Consumer expenditure is growing, but ageing,…

Violence mars Honduran society and economic freedom, although state finances continued to improve. Economic momentum is slowing, as exports and remittances growth slow, but lower inflation will ease the pressure on households. Whilst the population…

Haiti suffers from considerable political instability and corruption is rife. Economic development will be severely hindered in the short term, owing to the devastation caused by the 2021 earthquake and the unstable political landscape, with…