September 30, 2022

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The Caribbean race for greater integration into post-epidemic recovery

Port of Spain, Nov 6 (Prensa Latina) Countries in the Caribbean today are betting on greater unity and regional integration as part of a strategy to recover from the devastating economic crisis caused by the Covit-19 epidemic.

During the twentieth meeting of the Caribbean Development and Cooperation Monitoring Group held the previous day from Trinidad and Tobago, 19 member states and 10 partners considered innovative solutions to strengthen the recovery and economic downturn in the sub-region.

Together with experts from international organizations and other experts, the participants evaluated the activities in financial, technical and institutional matters, to reactivate the economy of the region, which was greatly affected by the freezing of the travel industry and the impact of natural events.

In this regard, the inclusion of clauses of events such as epidemics and hurricanes as part of funding mechanisms and lending such as the Caribbean Recession Fund proposed by the Economic Commission for Latin America and the Caribbean (ECLAC) stands out.

The meeting called for progress in the design of this mechanism, which will be launched next year with the aim of encouraging investment in recovery and economic transformation.

Participants discussed the multidimensional challenges facing countries and regions in the region and their impact, as well as structural issues exacerbated by the effects of epidemics and climate change.

“We can adequately deal with them only through transforming social and economic solutions based on solidarity and international cooperation,” stressed Costa Rica’s Foreign Minister Christian Gillermet-Fernandez, who intervened as the current president’s representative.

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For her part, the organization’s executive secretary, Alicia Barcena, reaffirmed her commitment to implementing the “Caribbean First” strategy before the Caribbean Development and Cooperation Council (a subsidiary of the ECLAC).

msm / kmg