Caribbean Governments Must Work On Economy
Basseterre, St. Kitts – Nevis
January 05, 2009 (CUOPM)
Investment flows and infrastructural development in tourism real estate are already showing signs of a slow-down as a result of the international global recession.
Barbados Prime Minister Hon. David Thompson said although the nations of the developed world owe it to the other countries to ensure that the response strategies they devise are based on the widest dialogue and participation, are transparent and take account of all needs, the Caribbean needs to get a grip on its future.
The Barbados leader told nearly 600 patrons at the 8th Annual New Year’s Gala of St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas that the global economic recession has already begun to affect the vital tourism and related sectors of St. Kitts and Nevis and other Caribbean nations whose dominant market share is held by North America.
He added that the recession will likely have a direct impact on foreign exchange earnings as well as the anticipated fall in remittances, and the rise in protectionism, unless alternatives can be identified and pursued.
“It is against this background of hope for something different and fear of something worse, that our countries in the Caribbean must now get a grip on our future,” the Barbados Prime Minister said.
Mr. Thompson pointed out that Caribbean people are no strangers to crises and difficult times as the societies have survived the cruel legacy of slavery and colonialism to build their own way of life.
“For almost half a century, we have managed our affairs as sovereign states, and have consolidated our political independence through the creation of a strong and vibrant Caribbean Community of progressive, tolerant nations, guided by the values of democratic governance, social justice, and respect for human rights and for cultural and ethnic diversity. We have weathered perennial storms, whether natural or man-made, with stoic resilience and an abiding faith,” said the Barbados Prime Minister who expressed confidence “that if we “˜cut and contrive’ we can make it through to the good times. That same spirit continues to guide us now.”
