(CARICOM Secretariat, Georgetown, Guyana) The Tenth Meeting of the Caribbean Community's (CARICOM) Council For Finance and Planning (COFAP) will be convened in Georgetown on Saturday 21 May, with the stabilisation and transformation of CARICOM economies topping the agenda for discussions.
Regional Ministers of Finance and officials will examine a board spectrum of issues including the establishment of a CARICOM Development Fund (RDF) for Disadvantaged countries, regions and sectors. In this context, the COFAP will be presented with the results of a draft feasibility study and recommendations, which outline the modalities for the setting up and operation of the fund.
The COFAP will examine the macroeconomic performance and convergence of Regional economies as well as other issues related to Monetary and Financial cooperation within the Community. In addition, the COFAP is expected to consider a progress report by Trinidad and Tobago pertaining to the setting up of a Petroleum Stabilisation Fund as well as the recently launched CARICOM Trade Support Programme. This Programme is intended to support sister Member States to enhance production and trade capacities thereby redressing the growing intra-regional trade imbalance.
Several intergovernmental instruments, which are intended to enhance economic policy coordination in the Community, will also be considered by the COFAP. These instruments include the Draft CARICOM Financial Services Agreement, the Draft CARICOM Agreement on Intra-regional Investment and the Draft CARICOM Investment Code, and a Harmonised Policy towards Investors from Third States.
A Preparatory Meeting of Finance, Planning and Central Bank Officials on Friday 20 May will precede the Meeting of the COFAP.
