The Caribbean: Caught In A Perfect Economic Storm

• The Prime Ministers of Belize and Barbados, both stressed the importance of a unified response to the multiplicity of global economic challenges facing the region. The emphasis now, they suggested, must be on actions that result in self-reliance and resilience.
• CARICOM heads agreed that the region urgently needed to implement measures intended to create self-sufficiency in food production and energy, deliver an effective and viable CARICOM Single Market and Economy (CSME), and more aggressively seek out the funding required to drive regional economic recovery. 
• To coordinate this, a resuscitated and enlarged CARICOM Economic Recovery Committee is to meet to recommend how these and other overlapping strategic issues, including post-pandemic recovery, long-term indebtedness, the shameful absence of international resources to support climate change adaptation, and measures to offset the alarming global economic disruption caused by Russia's invasion of Ukraine. 
• Whether member states can rapidly achieve even a part of what is required is unclear, but as Prime Minister Mottley pointed out, without a unified response, the region's development trajectory will be derailed.

 (Source: MENAFN- Caribbean News Global)