CDB study recommends strategies to promote regional innovation and productivity

Timothy Antoine, Governor, Eastern Caribbean Central Bank, making a point during the panel discussion on May 24, 2017. (Photo via CDB)
Timothy Antoine, Governor, Eastern Caribbean Central Bank, making a point during the panel discussion on May 24, 2017. (Photo via CDB)

May 25, 2017, PROVIDENCIALES, Turks and Caicos Islands – If the Region is to enhance productivity and economic growth, new initiatives and strategies must be explored. A study by the Caribbean Development Bank (CDB), entitled “Enhancing Productivity and Growth in the Caribbean”, suggests ways of enhancing productivity and economic growth by focusing on four main areas: foreign direct investment (FDI); information and communications technology (ICT); research and development (R&D) and innovation; and the adoption of industrial clustering to promote innovation and productivity.

There is an urgency to find new ways of improving total factor productivity and propelling economic growth in the Caribbean, with the Region facing significant economic challenges associated with high levels of un- and under-employment and poverty; high fiscal deficits; high public debt; reliance on slow growing economic sectors; high levels of volatility; various economic and environmental threats; and the strain of maintaining adequate levels of foreign reserves,” said Dr. Justin Ram, Director of Economics, CDB.

Dr. Wm. Warren Smith, President, CDB, noted: “The study sets out a core set of productivity enhancement strategies which can propel economic growth onto a higher and more sustainable path, and improve the lives of ordinary Caribbean people over the medium to long term. The proposals set out in the study are intended to provide a practical set of policy measures to advance the growth agenda.”

Caribbean Development Bank
The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as and Associate Institution of CARICOM
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World Bank Deputy Chief Economist urges Region to think big about small economies

PROVIDENCIALES, Turks and Caicos Islands, May 24, 2017 – It is time for the Caribbean Region to think big about its small economies, says Deputy Chief Economist for Latin America and the Caribbean at the World Bank, Dr. Daniel Lederman. Further, small economies can be successful by being open and nimble. Lederman delivered the 18th William G. Demas Memorial Lecture, which took place in Providenciales, Turks and Caicos Islands on May 23, 2017, ahead of the start of the Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB).

Lederman, joining a distinguished roster of speakers who have delivered the Lecture, spoke on the topic, ‘Thinking Big about Small Economies: From ‘Open and Nimble’ to Talented Workforce’.

The Deputy Chief Economist noted that the characteristic of being small helps ameliorate the volatility caused by fluctuations in global demand for specific goods and services.

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Tackling NCDs

Seven Caribbean countries are on course to achieve the global target set by the World Health Organisation (WHO) for reducing the number of deaths caused by non-communicable diseases (NCDs), Director of the George Alleyne Chronic Disease Research Centre of the University of the West Indies, Dr. Alafia Samuels, said Tuesday.

She was at the time delivering an address at a sub-regional workshop at the Accra Beach Hotel, Bridgetown, Barbados.

According to the Barbados Today media house, Dr. Samuels reported that Caribbean Community (CARICOM) Member States, The Bahamas, Grenada, Guyana, Suriname, Trinidad and Tobago, and CARICOM Associate Members, the Cayman Islands and the Turks and Caicos Islands, were on course to reduce their total number of NCDs by 25 per cent by 2025, while the rate of mortality was on the rise in other countries.


“So there are actually countries in the Caribbean where the mortality rate is increasing. In most countries it is decreasing, but there are a couple where it is increasing. And major contributors to these disparities have been trends in stroke and ischaemic heart disease and diabetes,” the media house quoted Dr. Samuels as saying.

CDB announces keynote speaker for prestigious William G. Demas Memorial Lecture

Dr. Daniel Lederman, Lead Economist and Deputy Chief Economist for Latin America and the Caribbean at the World Bank (Photo via CDB)
Dr. Daniel Lederman, Lead Economist and Deputy Chief Economist for Latin America and the Caribbean at the World Bank (Photo via CDB)

BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) has announced the keynote speaker for the 18th William G. Demas Memorial Lecture, scheduled to take place on May 23, 2017, at the Beaches Turks and Caicos Resort Villages & Spa in Providenciales. Dr. Daniel Lederman, Lead Economist and Deputy Chief Economist for Latin America and the Caribbean at the World Bank, will speak on the topic, ‘Thinking Big about Small Economies: From ‘Open and Nimble’ to Talented Workforce’.

An economist and political scientist by training, Dr. Lederman has published numerous books and articles on a broad set of issues related to economic development. These include: financial crises; crime; political economy of economic reforms; economic growth; innovation; international trade; and labour markets.

Lederman is co-author of ‘Open and Nimble: Finding Stable Growth in Small Economies’, published in March. The book analyses what makes small economies unique and proposes that they are not necessarily prone to underdevelopment and, in fact, can achieve very high income levels.

Caribbean Development Bank
The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as and Associate Institution of CARICOM
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Border security professional exchange launched in Barbados

 

(Photo via US Embassy in Barbados)
(Photo via US Embassy in Barbados)

PRESS RELEASE – United States Customs and Border Protection hosted a Border Security Professional Exchange with CARICOM Advance Passenger Information System (APIS) member states and regional partners focused on issues of mutual concern related to border management throughout the Caribbean.

The three-day exchange was funded by the United States Department of State under the Caribbean Basin Security Initiative.

The exchange was designed to increase collaboration between international partners and the United States government on border security. Subject matter experts led robust and productive discussions on topics such as foreign terrorist fighters, border security, migration trends, and countering criminal networks.

Participants included leaders working in customs, immigration, and police operations, as well as permanent secretaries from the following CARICOM member states: Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago. Additional participants included border security professionals from the Dominican Republic, Panama, and the United States; as well as the Netherlands, the United Kingdom, and those two nations’ respective overseas territories.

Read more at: St. Lucia News Online