Taxes

Caribbean Tax Havens Fret They’re at Risk from Global Crackdown

Regional economies were already hit by collapse of tourism
GDP per capita won’t fully recover until 2025, IMF forecasts

Customers sit in the outdoor dining area of a restaurant in Saint Croix, Virgin Islands, earlier this year.Photographer: Ivan Valencia/Bloomberg

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By Jim Wyss

June 30, 2021 at 9:00 AM UTC

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The Caribbean will take years to recover from the global pandemic that wiped out tourism, its prime economic engine. Now a new storm threatens its offshore financial sector.