Why is Grenada similar to and different from the Seychelles or other small economies?

Grenada (Photo via the World Bank)
Grenada (Photo via the World Bank)

A dreamy holiday destination for sun lovers and beach goers, Grenada, also called the “Spice Island,” is home to over 100,000 people. With an ocean area 80 times larger than its land space, a rich and pristine coastline and colorful coral reefs driving its tourism industry, and a real understanding of climate risks, this Eastern Caribbean Island has recently positioned itself as a real blue economy champion in the region. Over 13,000 kilometers west, another small island developing state in the Western Indian Ocean with similar challenges and opportunities—the Seychelles—is also leading on the blue agenda.

What common challenges and opportunities are facing small economies? What can the World Bank contribute to generate stable growth in small economies? These are key questions raised in recent conversations in the Caribbean and Washington.

Grenada Prime Minister Keith Mitchell, recently appointed as chair of the World Bank Group Small States Forum taking over from Seychelles Minister of Finance Jean-Paul Adam, called for the need to change the narrative from big to small, and in doing so, address opportunities for small states.

Read more at: The World Bank

Grenada PM presents vision for Small States Forum

Prime Minister of Grenada, Dr. the Hon. Keith Mitchell
Prime Minister of Grenada, Dr. the Hon. Keith Mitchell

 The new chairman of the World Bank’s Small States Forum, Prime Minister of Grenada, Dr. the Rt. Hon. Keith Mitchell, presented his vision for the Forum’s future at the ‘Small States Engagement Update 2017′ held on April 20, 2017, in Washington, D.C. Prime Minister Mitchell outlined the agility of Small States and the need for a change in narrative where small size is not seen as a disadvantage but as a distinct advantage.

The 2015 Paris Agreement (COP21) and the Sustainable Development Goals (SDGs) have shifted the World’s trajectory as it relates to the importance of the role that Small States occupy. Dr. Mitchell noted that some islands have up to 1,000 times more space at sea than they do on land and, as a result, have been at the forefront of the SDG 14 on oceans.

The Grenadian Prime Minister also remarked on the potential for Small States in areas such as the Blue Economy, renewable energy and technology.

“In the Pacific they have created ‘the OPEC of Tuna Fisheries,’ and the ‘Pacific Possible’ initiative seeks new opportunities beyond fisheries.”


Read more at: OECS

UPDATED: PM Mitchell pushes collaborative approach to development of high quality statistics

 

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Prime Minister of Grenada, the Dr. the Hon. Keith Mitchell is on a mission to solicit increased support for the development of quality statistics.

His mission comes in the wake of the approval of the CARICOM Statistics Action Plan last year, and as part of efforts to advance the 2030 Sustainable Development Agenda.

The Prime Minister, who is CARICOM’s Lead Head of Government with responsibility for Science and Technology, laid out his vision and plans Wednesday during an address to the PARIS21 Annual Board Meeting held in Paris, France.

Statistics, he said, had become an indispensable tool in the democratic process of countries, in all facets of society and in the development of sectors and industry. (more…)

CARICOM Prime Ministers address ‘The Caribbean Dilemma’

Prime Minister of Grenada, Dr. the Hon Keith Mitchell (second right) and Prime Minister of Saint  Lucia, the Hon Allen Chastanet (right)
Prime Minister of Grenada, Dr. the Hon Keith Mitchell (second right) and Prime Minister of Saint Lucia, the Hon Allen Chastanet (right) during the discussion on Thursday

Two Caribbean Community (CARICOM) Prime Ministers – Dr. the Right Hon. Keith Mitchell of Grenada and the Hon. Allen Chastanet of Saint Lucia – are currently in the USA, participating in a discourse titled ‘The Caribbean Dilemma’. The discussion is organised by the Miami Herald and presented by the World Bank.

The Conference brings together executives and top government leaders from around the Caribbean to discuss how to cushion Caribbean Basin economies from volatility in economic growth, the Miami Herald said.

The media house said that the forum also bring together panels of economists and business and financial leaders to discuss strategies for long-term growth, how small economies could “become more nimble in meeting external challenges, and efforts to strengthen fiscal and financial policies so Eastern Caribbean States aren’t so vulnerable to swings in trade, foreign investment and interest rates.”

Please follow discussion here.

PMs Mitchell, Chastanet for World Bank conference on Caribbean’s socio-economic situation

 

PM Allen Chastanet
PM Allen Chastanet
The Action Plan was piloted by the Prime Minister of Grenada, Dr. the Rt. Hon Keith Mitchell, who has lead responsibility for Science and Technology in the CARICOM Quasi Cabinet
PM Keith Mitchell

MIAMI, United States (CMC) — Two Caribbean Community (CARICOM) leaders are expected to participate in a World Bank conference examining the socio-economic situation in the Caribbean.The March 30 conference, titled ‘The Caribbean Dilemma’ is part of the Americas Conference Series being put on in collaboration with the Miami Herald.

Prime Minister Dr. Keith Mitchell of Grenada and St. Lucia’s Prime Minister Allen Chastanet are among Caribbean delegates that will participate in the conference.

Chairman of the Economic Growth Council in Jamaica, Michael Lee-Chin, the Governor of the Central Bank of Jamaica, Brian Wynter and the Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine are also schedule to participate in the one-day event.

Read more at: Jamaica Observer