‘Tough times ahead’
Prime Minister Mia Amor Mottley, who has been tasked with leading the Caribbean Community’s economic recovery efforts, says Barbados and its CARICOM partners are facing tremendous difficulties and challenges emanating from Russia’s invasion of Ukraine.
Regional Heads of Government concluded their 33rd CARICOM Inter-sessional Meeting yesterday evening in San Pedro, Belize, with an announcement that Mottley will chair an expanded CARICOM Economic Recovery And Transformation Sub-Committee.
Mottley said: “The increase in energy prices is clearly going to be a major challenge for us, but [also] . . . freight costs and the supply chain. We also recognise that any efforts that we have to increase food production must be urgent because the increase in prices is likely for food as a result of the dominant role that both Russia and the Ukraine play in the production of both corn and soya,” she said.
“So we hope that that sub-committee can meet in the upcoming weeks to further refine the kinds of proposals. We recognise equally that we have to continue engagement with the international financial institutions as well.” (SC)
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