Information Americas, TORONTO, Canada, Fri. Oct. 11, 2025: The Caribbean’s 2025 Index of Financial Freedom paints a posh image of progress and persistence – the place fiscal well being and innovation are rising, however corruption and weak establishments proceed to carry some nations again from freer Caribbean economies.
The Washington-DC-based, Heritage Basis’s Index of Financial Freedom, now in its thirty first version, evaluates 184 economies worldwide yearly, utilizing 4 key pillars: Rule of Regulation, Authorities Dimension, Regulatory Effectivity, and Open Markets. Every pillar consists of 12 indicators — from property rights and judicial integrity to labor freedom and monetary well being – measured on a scale from 0 to 100.
No Caribbean economy ranks as “free” within the 2025 report. As an alternative, most fall inside the “reasonably free” class, whereas others stay “principally unfree” or “repressed.” The information, drawn from the primary half of 2023 by means of the second half of 2024, reveals that whereas fiscal self-discipline is bettering in a number of international locations, challenges comparable to public debt, corruption, and unemployment proceed to form the area’s financial panorama.
1️⃣ Barbados (Rating: 68.9 | World Rank: 36)
Barbados tops the area for 2025, incomes a “reasonably free” standing with robust scores in judicial effectiveness and tax coverage. Nonetheless, its rising public debt stays a looming concern for long-term stability.
2️⃣ Jamaica (Rating: 68.7 | World Rank: 38)
Jamaica continues to draw funding and ranks among the many world’s high 40 economies for freedom. Whereas it advantages from an open enterprise atmosphere, corruption and excessive authorities spending nonetheless hinder deeper reforms.
3️⃣ Saint Lucia (Rating: 67.0 | World Rank: 47)
Saint Lucia’s ease of doing enterprise and average regulatory effectivity safe its place among the many high three. But, excessive unemployment and monetary pressures proceed to sluggish its progress towards higher financial independence.
4️⃣ Dominican Republic (Rating: 64.3 | World Rank: 65)
With a various economic system and constant development, the Dominican Republic’s robust tax administration boosts its standing. Nonetheless, authorities integrity and inefficient rules stay key areas for enchancment.
5️⃣ Belize (Rating: 64.2 | World Rank: 66)
Belize’s fiscal well being and average inflation ranges mirror regular financial administration. Persistent points like corruption and weak property rights, nevertheless, undermine investor confidence.
6️⃣ Trinidad and Tobago (Rating: 63.6 | World Rank: 69)
Wealthy in power sources, Trinidad and Tobago enjoys stable fiscal well being however struggles with corruption and restricted property rights. Diversification stays important for sustainable development.
7️⃣ The Bahamas (Rating: 63.2 | World Rank: 72)
The Bahamas boasts robust property rights and no revenue tax, giving it a aggressive edge. Nonetheless, excessive debt and commerce limitations restrain its full potential.
8️⃣ Saint Vincent & the Grenadines (Rating: 60.1 | World Rank: 87)
Reasonably free however weighed down by restricted financing entry and unemployment, St. Vincent and the Grenadines stays on the cusp of higher freedom if reforms deepen.
Guyana (Rating: 58.2 | World Rank: 99)
Regardless of its booming oil sector, Guyana stays “principally unfree.” Weak rule of regulation, corruption, and governance gaps proceed to overshadow fiscal progress and speedy GDP development.
Dominica (Rating: 55.3 | World Rank: 116)
Dominica maintains judicial stability however suffers from inefficient spending and inflexible labor insurance policies that prohibit competitiveness.
Suriname (Rating: 50.9 | World Rank: 144)
Suriname stays “principally unfree” with excessive inflation, corruption, and weak rule of regulation undermining public belief and funding.
Haiti (Rating: 48.8 | World Rank: 153)
On the backside of the regional listing, Haiti ranks among the many world’s most repressed economies. Endemic corruption, insecurity, and weak establishments proceed to paralyze progress and repel funding.
Cuba (Rating: 25.4 | World Rank: one hundred and seventy fifth)
Cuba stays categorised as “repressed,” with pervasive state management over markets, severely restricted property rights, and restricted monetary freedom. Structural limitations to non-public enterprise and international funding hold its general rating among the many lowest worldwide.
Throughout the Caribbean, financial freedom ranges from reasonably free to repressed, reflecting each the positive factors of reform and the drag of persistent challenges. Fiscal duty and openness to commerce are bettering, but problems with governance, transparency, and institutional weak point stay the most important limitations to unlocking regional prosperity.
Because the Heritage Foundation’s Index reminds policymakers, sustainable development relies upon not solely on attracting funding however on constructing reliable establishments that help equity, accountability, and alternative for all.
(Ramotsamai Itumeleng Khunyeli contributed to this story.)
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