• The Government, through the Ministry of Education, Skills, Youth and Information, is testing artificial intelligence (AI) tools in schools to assist teachers with marking and administrative tasks.
• “We have AI technology that we’re testing in schools now, to have AI mark the papers so that the teachers can spend more time doing what is really important, which is interacting with our students,” said Portfolio Minister, Senator Dr. the Hon. Dana Morris Dixon.
• Morris Dixon said there are also plans to launch the Jamaica Learning Assistant, which is an AI-powered tool designed to personalise learning according to students’ individual styles, whether they prefer stories, humour, quizzes or dialogue. She noted that the technology is not a replacement for teachers but rather a support tool that enhances their ability to deliver lessons more effectively.
• “So, after you’ve imparted the lesson, they can go and they can practise, and they can find out things that they never understood in the class. They can explore it some more,” Dr. Morris Dixon said. “That is the future of education we’re working towards; one where AI helps to personalise and enrich learning for every child,” she added.
• In the meantime, the Minister pointed out that Jamaica will open its first state-of-the-art AI lab later this year. This lab is to provide a space for students and teachers to develop technology solutions for schools.
• She called for collaboration with the JTA to integrate educators into the broader AI strategy where the Government intends to further distribute more than 15,000 laptops and tablets to students, along with 600 smart boards for schools. Additionally, approximately 25,000 vouchers have been issued to teachers to subsidise the purchase of personal laptops, she noted.

(Source: JIS)

• The amount of cash Mexico received last year from its citizens abroad reached another record. At $64.7 billion, remittances remained one of that country’s primary sources of income in 2024 and just under 4% of its gross domestic product.
• However, trouble may be brewing in a horizon clouded by threats of U.S. tariffs, inflation and law enforcement pressure on Mexican immigrants, and new rules to scrutinize who wires what money to whom outside of the United States.
• Remittances fell for a second consecutive month in February, according to Banxico – Mexico’s central bank. They went to from $5.2 billion in December, to $4.66 billion in January and $4.45 billion in February. The average remittance also is down from $393 last year to $383 in the first two months of 2025.

(Source: News Nation Now)

• The International Monetary Fund (IMF) now expects economic output growth in LatAm and the Caribbean to decelerate in 2025 to 2.0% from last year's 2.4% expansion, down from a January estimate for 2.5% growth.
• "The revisions owe largely to a significant downgrade to growth in Mexico," the fund said, "reflecting weaker-than-expected activity in late 2024 and early 2025 as well as the impact of tariffs imposed by the United States, the associated uncertainty and geopolitical tensions, and a tightening of financing conditions." Mexico's economy, strongly intertwined with that of the United States, is now forecast to contract 0.3% this year from a previous 1.4% expansion as U.S. tariffs bite into exports.
• Brazil, the region's largest economy, is seen slowing to 2.0% from a January view of 2.2% GDP expansion. Argentina's 5.5% growth forecast for 2025 is an uptick from the 5% expansion seen in January. Colombia is seen growing 2.4%, Chile 2.0% and Peru 2.8%.
• For Central America the estimate is for 3.8% output growth this year, slightly slower than the 3.9% rate in 2024, while the Caribbean is seen decelerating to 4.2% in 2025 from last year's 12.1%.
• The IMF cut its view of global economic growth in 2025 to 2.8% from 3.3% in January as the U.S. lifted tariffs to the highest in a century.

(Source: Reuters)

• More work is needed to improve the sovereign debt restructuring process and help countries facing mounting debt service challenges, the chairs of a global debt roundtable said on Wednesday, as they released a new playbook to aid those efforts.
• The Global Sovereign Debt Roundtable, formally launched in late 2022 to help accelerate progress on securing debt treatment for countries in default, met Wednesday during the spring meetings of the International Monetary Fund and the World Bank.
• Co-chaired by the IMF, the World Bank, and South Africa, the current chair of the Group of 20 major economies, it includes creditors, borrowing countries, private sector executives, debt experts, and financial and legal advisers. On Wednesday, the IMF announced that economic pressures from steep new U.S. tariffs will push global public debt above pandemic-era levels to nearly 100% of global GDP by the end of the decade, as slower growth and trade strain government budgets.
• The IMF's latest Fiscal Monitor projected that global public debt will grow 2.8 percentage points to 95.1% of global GDP in 2025, reaching 99.6% of global GDP by 2030. Public debt levels in low-income countries and emerging markets were already high before the COVID-19 pandemic and then rose, but have they stabilised since and look set to decline slightly or remain stable over the medium term.
• A few countries remained particularly vulnerable, and many countries face elevated debt service challenges, with high interest costs and refinancing needs crowding out spending on education, health, and infrastructure investment.
• This would require "advancing robust progress on debt transparency, debt management, and debtor/investor relations," the co-chairs wrote in their progress report. They said the new playbook released Wednesday was a "user-friendly document" that summarised the key steps, concepts and processes observed in recent sovereign debt restructurings.

(Source: Reuters)

• Jamaica’s reputation as an investment destination continues to grow, with Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, making a strong case for both local and international investors to take advantage of the country’s evolving business landscape.
• Senator Hill cited a range of economic improvements and investment incentives that make Jamaica an attractive proposition. With the country’s unemployment rate hitting a historic low of 3.5 per cent, alongside low inflation, a reduction in crime, and cuts in taxes, the Minister said Jamaica is now “stable and investable.”
• He detailed several advantages for investors in Special Economic Zones (SEZs), including substantial tax breaks and customs benefits. “All those goods that you bring in to build up your operations will come in duty-free. When you start making money in year four, year five, and six, and you invest that money, the profits you make from that, we will charge you only 50 per cent of the corporate rate,” he explained.
• Operators within SEZ developments also enjoy major tax advantages. “If you’re an operator within the master developer’s place, you get your customs duty in and you only pay 12.5 per cent tax, which could also go down to 7.75 per cent,” Hill added.
• The SEZ framework is expanding to include a range of high-growth sectors such as film production, green energy, artificial intelligence (AI), and pharmaceuticals. Among the notable upcoming projects are the Caymanas Special Economic Zone, the Olympus Project focused on sports development, Xanadu 77 Technopolis, and Pandora Pharmaceutical SEZ.

(Source: Caribbean National Weekly)

• Costa Rica has recorded seven consecutive months of declining international tourist arrivals, a troubling trend that began in September 2024 and persisted through March 2025, according to the Costa Rican Tourism Institute (ICT). The downturn, coinciding with the country’s traditional high season, has raised alarms within the tourism sector, a cornerstone of the national economy.
• In February 2025, only 270,810 tourists arrived by air, a 7.0% drop from 291,090 in February 2024, marking the sixth consecutive month of decline, ICT data shows. Preliminary reports indicate a further 3.0% decrease in March 2025, extending the streak to seven months. While exact figures for the full period are pending, industry estimates project a 15–20% reduction in arrivals by year-end 2025, compared to the 2.6 million visitors welcomed in 2024.
• The decline follows a strong early 2024, with a 14.5% increase in arrivals from January to June compared to 2023. However, the late-year slowdown has eroded gains, particularly from key markets. North American arrivals fell 7.2% in February 2025, with the United States (150,320 visitors, down 7.3%), Canada (37,975, down 5.8%), and Mexico (6,351, down 12.4%) showing significant drops. European visitors declined even more sharply, by 11.4%.
• The National Chamber of Tourism (CANATUR) and industry group Turismo por Costa Rica attribute the downturn to several factors. The appreciation of the Costa Rican colón, now at ₡500 per U.S. dollar (down from ₡700 in mid-2022), has made Costa Rica pricier than regional competitors like Colombia or the Dominican Republic.
• Growing perceptions of insecurity also deter visitors. A U.S. Embassy Level 2 Travel Advisory issued in December 2024 cited rising crime, with incidents reported near Juan Santamaría International Airport in February 2025. Over 6,300 tourists have reported crimes like theft and assaults since 2020, and international media coverage of drug-related violence has amplified concerns. “Safety concerns are scaring people away,” Roberts noted.
• Reduced air connectivity further exacerbates the issue. Seat availability at Juan Santamaría International Airport dropped 8%, while Daniel Oduber International Airport in Liberia saw a 19% decline. Health alerts, including a histoplasmosis spike linked to caving and a ban on shellfish harvesting due to paralytic toxins, have also raised traveler caution.
• Tourism, contributing 8.2% to Costa Rica’s GDP and 8.8% of employment, is critical to rural areas like Guanacaste, Limón, and Monteverde, where job alternatives are scarce. CANATUR has urged the Central Bank to address the colón’s appreciation, warning of potential business closures.

(Source: Tico Times)

• A delegation from the Dominican Republic is set to hold its first high-level meeting with U.S. officials this Tuesday in Washington, D.C., to discuss the recent 10% global tariff increase announced by the United States.
• This proactive move positions the Dominican Republic as one of the first countries in the region to seek early engagement with the U.S. on this issue. The government aims to protect its productive sector and maintain strong bilateral relations. Following the April 2 U.S. announcement, the Dominican government swiftly responded by convening an emergency meeting, forming technical committees, and initiating diplomatic outreach to U.S. authorities.
• The meeting reflects a strategic effort to build communication channels and seek collaborative solutions, reinforcing the Dominican Republic’s commitment to mutual cooperation and economic diplomacy.

(Source: Dominican Today)

• The International Monetary Fund cut its economic growth forecast for Japan and projected the central bank would lift interest rates at a slower-than-expected pace due to the impact of higher U.S. tariffs.
• The downgrade highlights the damage U.S. President Donald Trump's sweeping tariffs could inflict on Japan's export-reliant economy and comes ahead of the Bank of Japan's two-day policy meeting concluding on May 1. "The effect of tariffs announced on April 2 and associated uncertainty offset the expected strengthening of private consumption with above-inflation wage growth boosting household disposable income," the IMF highlighted.
• Japan's economy is expected to grow 0.6% in 2026, down 0.2 points from its forecast made in January. The Bank of Japan’s (BOJ) policy rates are expected to be lifted "at a slower pace than assumed in October 2024", the report said without elaborating when the next rate hike could come.
• The central bank is expected to gradually raise interest rates over the medium term "toward a neutral setting of about 1.5%", or the level consistent with keeping inflation anchored at its 2% target, the IMF noted.
• The BOJ last year ended a decade-long massive stimulus programme and raised interest rates to 0.5% in January on the view that Japan was on the cusp of sustainably achieving its 2% inflation target. While Governor Kazuo Ueda has signalled the BOJ's readiness to keep raising rates, Trump's tariff decisions have complicated its decision on when and how far it could hike.
• Trump has hit Japan with 24% tariffs on its exports to the U.S., although, like most of his levies, they have been paused until early July. A 10% universal rate stays in place, as does a 25% duty on cars, which is expected to hit Japan's economy.

(Source: Reuters)

• Britain's economic growth forecast for 2025 received the sharpest downgrade of any major European economy from the International Monetary Fund on Tuesday as the UK braces for the global fallout from U.S. President Donald Trump's trade tariffs.
• The Fund also said British inflation would be higher this year than it had thought in January, and higher than in any other Group of Seven country - showing the economic risks facing finance minister Rachel Reeves and Bank of England Governor Andrew Bailey, who will attend IMF spring meetings this week. The higher U.S. import tariffs were likely to reduce pressure on inflation in Britain, as in most economies, Gourinchas said. BoE rate-setter Megan Greene had earlier said she expected the diversion of exports away from the U.S. would push down inflation in Britain.
• Such a hawkish message may help Japan fend off criticism from Trump that Tokyo is keeping the yen artificially weak to give its exports a competitive trade advantage, some analysts say. At the two-day policy meeting ending on May 1, the BOJ will cut its economic growth forecasts and warn of escalating risks from Trump's sweeping tariffs that are set to dent global demand, the sources said.
• Despite the weaker outlook, the Fund bumped up its forecast for British inflation this year by 0.7 percentage points from its January forecast, to 3.1%. On average, the IMF's inflation forecast for advanced economies rose 0.4 percentage points, while that for the United States, where Trump's tariffs will hit prices directly, jumped 1.0 point.
• The IMF noted that the increase in its forecast for UK inflation "primarily reflects one-off regulated price changes". The IMF further noted that it expected British inflation to slow to 2.2% in 2026, close to the BoE's 2% target.

(Source: Reuters)

• For the six months ended February 29, 2025 (6 Month FY 2024), Sygnus Real Estate Finance (SRF) reported a net loss of J$197.45Mn compared to a J$320.13Mn loss the year prior, primarily due to an increase in its stake in the One Belmont property.
• Interest income rose by 21.9% to J$107.41Mn, up from J$88.12Mn for the 6 months ended February 2025. However, a sharp 145.9% increase in interest expense led to a net interest loss of J$215.85Mn, which widened from J$87.75Mn in the comparable period prior.
• Despite the weaker net interest income, total investment income (core revenues) improved to J$26.59Mn, reversing a loss of J$55.31Mn in 6M FY 2024. This turnaround was driven by lease and other income, a gain on disposal of financial instruments of J$33.73Mn, a gain on acquisition of shares in Joint Venture of J$162.20Mn and share of gain on joint ventures of J$39.26Mn.
• The gain on acquisition of shares reflects SRF’s strategic move to increase its stake in the 9-storey One Belmont commercial tower to 86% from 70%. SRF also acquired a 71% stake in a newly formed joint venture—5658 LMR Limited—whose assets include two resort villa properties in Ocho Rios, St. Ann.
• As SRF transitions into its second investment life cycle, investment activity is expected to ramp up. For the period, the Group deployed J$1.39Bn in new investment commitments—an increase of 119% (or J$753.09Mn) versus J$633.00Mn in the prior year. This was mainly driven by the investment of J$974.36Mn in 4 Real estate investment notes (REINs) during the period, SRF’s acquisition of additional shares in an existing joint venture, and property additions to strategic assets.
• SRF is executing on its strategic objective of seeking to substantially increase its investment in new REINs at higher interest rates with funds generated from ongoing investment exits. The entity has sold investment properties located at 56 and 58 Lady Musgrave Road, and the Hillcrest, Spanish Penwood in the past year. This resulted in total assets slightly decreasing by 0.2% but was offset by an uptick in REINs (+25.3%) and joint ventures (+64.0%).
• SRF’s stock price has depreciated 17.1% year-to-date. The stock price closed Wednesday’s trading session at $8.14 and currently trades at a P/E of 11.97x, above the Main Market Real Estate Sector Average of 6.85x.

(Sources: Sygnus Real Estate Finance & NCBCM Research)