CDB meeting to explore Caribbean’s debt crisis

CDB meeting to explore Caribbean’s debt crisis

The Caribbean Development Bank’s annual meeting is here again.

Next week is going to be intense as members of the CDB will plot a fiscal way forward for the upcoming term.

Saint Lucia will be handing over its chairmanship of the Caribbean Development Bank come next week. Already the CDB’s activities began earlier this week. and from Sunday, delegates will be gearing up for what promises to be a productive meeting.

Vice President of Corporate Services and Bank Secretary of the CDB, Yvette Lemonias-Seal, explained that a critical component of next week’s activity is a session to explore the Caribbean’s debt crisis.

“One of the seminars we plan to host next week, is actually on debt and debt sustainability, debt reduction. What can we as small developing countries do about this? What should we be asking of the multilateral development partners and other development partners and other commercial institutions? How did we get here? And what can we do about it?”

The island has benefited tremendously from CDB intervention. One of the latest projects from the CDB which, as Prime Minister Dr Kenny Anthony announced during his Budget Address on Tuesday, is the feasibility study of the island’s new north/south link.

“Our projects and programmes in Saint Lucia would have ranged from infrastructure-type project, roads and bridges. As a matter of fact, we are at the moment looking at a feasibility study which will look at the north/south link – a new highway. We have over the years financed a lot of education projects, basic education, early child hood education and we would have been looking at curriculum development, teacher training and that sort of thing under those types of intervention,” Lemonias-Seal said.

Saint Lucia’s Nobel Laureate Sir Arthur Lewis was the first president of the CDB, and as a founder of this entity, the island has hosted this meeting at least four times previously.

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