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BELIZE CITY, Belize, Mar 01 2016 – Representatives from more than a dozen Caribbean countries gathered here this week to take stock on key lessons learned from the 100 reform actions implemented through the Caribbean Growth Forum (GCF).
Launched in 2013, the initiative provides a real platform for Caribbean nations to accelerate the implementation of reforms to enable inclusive private-sector led growth and foster greater focus on results, transparency and accountability.
World Bank Country Director for the Caribbean Sophie Sirtaine noted that several Caribbean countries – the Dominican Republic, Grenada, Jamaica, Saint Lucia – have emerged as reform champions.
“There has been greater global attention to Sustainable Island Development States and a growing focus on economic transformation – focusing on jobs and private sector development – as part of the Sustainable Development Goals. This is an opportunity for the Caribbean region and for the CGF,” she said.
“I commend the Caribbean Growth Forum member Governments for their commitment and for the social capital achieved by engaging citizens, business and community leaders to jointly implement the CGF reform compacts.”
To date, the CGF has led to a substantial number of reforms throughout the region.
More than 2,500 government, private sector and civil society leaders have been engaged and over 100 reforms in improving business climate, boosting skills and productivity, and enhancing connectivity and logistics have been implemented (of which 46 policy actions in the past two years).
“Just to name a few, for instance the creation of a fund by the Grenada Development Bank which supports Small and Medium Enterprises; the establishment or strengthening of several National Competitiveness and Productivity Council in St Lucia, Suriname, Belize which recently conducted an assessment to increase productivity in the workplace; or in the Dominican Republic where a Single Stop Shop for entrepreneurs helped reduce the time to register a business from 45 to seven days. However, this is no time for complacency and we should keep the momentum,” Sirtaine said.
During the St Lucia Regional Forum last June Prime Minister Dr. Anthony stated that “the region’s historical task is to conceptualise, shape and define an economic model that answers to the times and to our needs,” and welcomed the opportunities to build on successes in and outside the region.
Caribbean countries have also endorsed a joint communique to move forward on a pro-growth agenda, as they re-affirmed their commitment to shape a new agenda for sustainable and inclusive growth in the Caribbean.
“We reaffirm our commitment to shape national and regional reforms and to help track the implementation of actions launched to spur sustainable growth, create jobs and ensure shared prosperity.
“We recognise that the Caribbean Growth Forum provides an important platform for regional reforms to be implemented, and where regional peer-to-peer learning and access to global good practices is essential to foster innovation,” the countries said in a joint communique.
Sirtaine said she is particularly proud of the efforts of the Caribbean governments to endorse the CGF Communique.
“As a partner, the World Bank Group is fully committed to facilitating the second implementation phase of the CGF and supporting the sustainable development agenda that many Caribbean nations are pursuing and to identify innovative solutions to bring about growth, competitiveness and job creation,” she added.
