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More finance required for CARICOM

NATASHA BECKLES, [email protected]

More finance required for CARICOM

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A LACK OF finances is proving challenging to the CARICOM Secretariat and to the work of CARICOM as a body.
Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, disclosed that many good ideas, projects and programmes are being threatened by member states’ failure to provide an adequate level of financing in a sustainable manner.
He noted that this does not augur well for the future of some of these programmes.
The Minister made these comments following a two-day conference to the Council for Trade and Economic Development, (COTED) Ministerial Meeting in Georgetown Guyana.
“The need for member states to ensure that their contributions are paid in a timely fashion was raised at this COTED meeting. Failing that we are going to have to make some bold decisions about some of these programmes and organisations within the region because they are not sustainable given the current trajectory we are on,” Mr. Inniss opined.
Pointing out that they also dealt with a few of the issues pertinent to Barbados in relation to Article 83 and Article 164 of the Treaty of Chaguaramas, the Minister said the amendment to Article 83 was passed by the Heads at their meeting in March in St Vincent, but it must be ratified with the signature of all 13 member states and so far, they had the signature of five.
“The COTED meeting agreed that the other eight member states will be reminded of the need to tidy up this arrangement.  At the Foreign Affairs Ministers meeting in Guyana, we anticipate that this will be addressed in great measure as we are asking that the necessary instruments and authorities be granted to those leading delegations at that meeting, to sign that particular agreement there and then,” he stressed. (BGIS)