Black Immigrant Daily News

The need for continued vigilance against COVID-19 and the recent threat of Monkey Pox are among the critical issues for discussion at the Forty-Fourth Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM), 15-17 February in The Bahamas.

This is according to Alison Drayton, Assistant Secretary-General (ASG), Directorate of Human and Social Development, CARICOM Secretariat. She also highlighted challenges to health system resilience, regional health security, Climate Change and routine vaccinations as significant issues for the attention of Heads of Government.

Drayton explained that while COVID-19 has persisted for over three (3) years, based on reports from the Caribbean Public Health Agency (CARPHA) and Member States, the pandemic is in a phase of less severe disease and death with the spread of mainly the Omicron variants. However, she emphasised that the continued spread is consistently on the agenda of high-level forums, including the Council for Human and Social Development (COHSOD) and within the CARICOM Secretariat.

“CARPHA has been mandated to lead the response to COVID-19 as early as 2020,” stated the ASG, “and I am pleased to see that the Region has benefitted from a number of public goods as a result of their coordination and leadership”.

Drayton further explained that Heads of Government would also receive updates on the recent challenges experienced by the Region regarding health system resilience, regional health security, as well as protecting the Region’s reputation as a relatively disease-free tourism destination.

“A CARPHA report on this agenda item will be presented to Heads of Government,” stated the ASG, “this will illustrate the role of the new Regional Health Security Agenda, as well as measures taken to mitigate health threats and climate change challenges. These are among the issues which threaten to disrupt our Region’s pursuit of resilient health systems and regional health security”.

Drayton indicated that she expects robust discussion on this item and support for the proposed recommendations from CARPHA, which urged Member States to remain vigilant, continue active surveillance and promote the use of established prevention and control guidelines to curb the further spread of COVID-19 and other infectious diseases.

She stated, “We hope for agreement on proactive health measures, particularly on returning to routine vaccinations to ensure a safer and healthier Caribbean as well the robust recovery of our tourism industry and sustainability of our Caribbean economies”.

NewsAmericasNow.com

Black Immigrant Daily News

News Americas, NEW YORK, NY, Feb. 15, 2023 : What is GDP? It is a commonly used indicator of the economic health of a country. It represents the total monetary value of all goods and services produced within a country’s borders over a specific period of time, usually a year.

This article will first explain the relationship between GDP and economic growth. Later on, we will share with you what the CDB has forecasted regarding Caribbean Economic growth in 2023.

How Are GDP And Economic Growth Related To Each Other?

GDP can be calculated using various methods, including income, expenditure, and production approaches.

Economic growth refers to the increase in the production and consumption of goods and services in an economy over time. Economic growth is usually measured by the increase in GDP over a period of time, typically a year. It is often used as an indicator of a country’s overall economic health and is influenced by many factors, such as technological progress, population growth, and investment.

While GDP is often used as a proxy for economic growth, it is important to note that it only measures the monetary value of goods and services produced and does not account for factors such as income distribution, quality of life, and environmental impact. Therefore, while a high GDP may indicate strong economic growth, it does not necessarily mean that a country’s citizens are experiencing a high quality of life.

Now that you understand how GDP and economic growth related, let’s check what the CBD had to say about the economic growth of the Caribbean in 2023.

CDB Forecast For Caribbean Economic Growth In 2023

According to Mr. Isaac Solomon, the Caribbean Development Bank Vice President (Operations), regional growth is expected to be 5.7 percent by 2023. This forecast is based on continued tourism growth and investment in the energy industry. However, there are risks associated with Advanced Economies, which are expected to see lower growth than in 2022. He said that “looking ahead,” he stated, “for 2023, we believe that even facing multiple challenges to their economic performance, Borrowing Member Countries (BMCs’) will keep improving in the medium-term. While we are cautiously optimistic regarding the near-term outlook and recognize the uncertainty surrounding the war in Ukraine’s outcome, it is hard to predict growth with certainty.”

Mr. Solomon presented a review of the Bank’s economic performance in 2022 at the CDB Annual News Conference in Barbados on January 18. He stated that regional economic growth averaged a strong 10.3% due to increased energy production in Trinidad and Tobago and Guyana, increased prices of international oil for commodity-exporting nations, and 4.6% economic growth in countries that are dependent on tourism. He stated that this performance contributed to increased Government revenues as well as improved fiscal positions.

The Bank Executive stated that the Region is facing challenges due to past economic performance and global conditions. He also said that prolonged shocks have compounded its socioeconomic problems. However, through its wide range of grants and loans, the CDB provides much-needed support to its 19 BMCs. In 2022, the Bank disbursed USD 292.5 million across the Region and approved 15% more loans and grants, totaling USD 158.1 million. Regionally, there are more than 65 CDB-financed projects. They include youth, agriculture, and education, as well as infrastructure, renewable energy, and trade.

The Vice President shared some suggestions that could be implemented to increase the resilience and growth of Caribbean societies and economies. These include:

Supporting comprehensive debt management strategies and public financial management;

Promoting accessibility to adequate and affordable financing;

Gender equality and women’s reintegration in the workforce and the prevention or discrimination of women;

Encouraging a private sector ecosystem that is innovative;

Financial inclusion for the most vulnerable;

And key priority actions to strengthen governance capacity to deliver by implementing cross-sectoral programs and policies.

He stressed that the Bank is an open partner who is looking for new avenues and opportunities in order to finance the Region’s development and growth. There is still much work to be done, even though more capital is needed.

What Is The CDB? (Caribbean Development Bank)

The Caribbean Development Bank (CDB) is a regional development bank. It provides loans at near-market rates from the Bank’s ordinary capital and grants from the Special Development Fund (SDF). It also provides free technical assistance. The Bank’s loans serve the sustainable social and economic development of the Region.

NewsAmericasNow.com

Black Immigrant Daily News

The Government of Barbados on Tuesday signed a memorandum of understanding (MOU) with the Republic of Cuba in the area of education.

The MOU will enable two scholarships per year, over a period of five years, to Cuban nationals. The scholarships will provide training in English as a foreign language for Cuban experts.

The signing of the MOU also presents the opportunity for Barbadians to strengthen their capacity in second language acquisition through the teaching of Spanish as a modern language.

Moreover, there will be the exchange of teachers in practice, between Cuba and Barbados, with emphasis on English Language teachers, along with the training of secondary level teachers for students between the ages of 11 and 14.

Over the years, Barbadians have benefited from the award of scholarships from the Cuban Government in areas such as medicine and sports. The signing of today’s MOU is a further step in solidifying the long-standing friendship between the Governments of Barbados and Cuba.

Present at the signing of the memorandum of understanding were: Minister of Education, Technological and Vocational Training, Kay McConney; Ambassador of Cuba to Barbados, Sergio Pastrana; Permanent Secretary, Ministry of Education, Technological and Vocational Training, Betty Alleyne-Headley.

NewsAmericasNow.com

Black Immigrant Daily News

Prime Minister Justin Trudeau is expected to depart today for the Bahamas, where members of the Caribbean Community are gathering to discuss regional issues, including a deepening crisis in Haiti.

Trudeau is participating as a special guest at the summit of 20 Caribbean leaders in Nassau, as the group celebrates its 50th anniversary.

His office says the trip will allow leaders to consider political, security and humanitarian assistance to Haitian people and “Haitian-led solutions to the ongoing situation.”

The country is embroiled in crisis, with violent gangs jockeying for territory in capital Port-au-Prince and international watchdogs reporting rampant sexual assault, kidnappings and a worsening health emergency.

Haiti’s unelected prime minister Ariel Henry, who is expected to participate in the Nassau meeting, has asked for a foreign military intervention — and the United States has suggested that Canada lead one.

But the Canadian government has so far kept its powder dry, instead searching for a “consensus” on the ground and levying economic sanctions against elites accused of supporting gang activity.

Emmanuel Dubourg, Canada’s only Haitian-born federal member of Parliament, suggested in an interview that the government is not leaving anything off the table as it considers how to help.

“We are trying our best to have that consensus to have a diplomatic solution,” the Liberal MP said.

“But we also heard that the national police is under-armed, and the situation, it’s really difficult there. So we are discussing all types of options to help people in Haiti.”

Dubourg added that a discussion about Haiti is likely to play into Trudeau’s conversations with U.S. President Joe Biden in March, when he is expected to visit north of the border.

Public Safety Minister Marco Mendicino said in French on Tuesday that Canada would continue working with the U.S. and other allies to help improve the situation on the ground.

NDP Leader Jagmeet Singh also responded to questions about Haiti in French outside the House of Commons, saying that he thinks it’s important to work with Haitian people on a way forward rather than “forcing a solution” as a foreign country.

Trudeau was last expected to join the Caribbean leaders at a meeting in February 2020, but cancelled the trip amid criticism of his government’s handling of anti-pipeline blockades in Western Canada at the time.

More than two million Canadians travel to the countries represented in the group every year, and Canada’s two-way trade with them totalled nearly $6 billion in 2021.

The prime minister is expected to return to Ottawa late Thursday evening.

NewsAmericasNow.com