PORT-OF-SPAIN – Trinidad & Tobago – July 08, 2013……Making his contribution to Agenda Item 4 “A Framework for regional Growth and Development”, Prime Minister Dr. Hon. Baldwin Spencer told his colleagues at the recently held CARICOM Heads of Government Meeting “as we continue to grapple with the challenges, urgent, bold and innovative strategies must continue to be devised to safeguard the survival of our economies.
Consequently, PM Spencer is suggesting a regional Marshall like Plan as an element of the overall strategy to deal with the economic challenges.
Accordingly, PM Spencer indicated that the Caribbean Development Bank and the CARICOM Secretariat should work closely together to work on the modalities including a timeframe.
“Clearly we have to see how the respective sectors can be modernized; the public sector transformed; more linkages between economic growth and investment; more attention to our debt burden and fiscal consolidation”, according to Prime Minister Spencer.
Describing the problems affecting the region as “critical”, Spencer argued that “despite the challenges, the region has not done badly. We have done our best and there have been marginal improvements. To that end, today’s discussions are in recognition of the need for a practical plan to deal with the regional growth agenda. A set of proposals are require, some already advanced should now be urgently pursued, he said.
Prime Minister Spencer and his colleagues spent Friday in Caucus at the Petrotrin Oil Refinery at Pointe’ a Pierre, south Trinidad. (Ends)
