CHALLENGESTO ECONOMIC

DEVELOPMENT AND GROWTH IN A NEW

OECSPresented by

Miss Jehann Jackfor the

St Vincent Girls’ High SchoolCentenary Lecture Series

Thursday 16 December 2010

OUTLINE

• Introduction

• Themes:• Economic and Financial

• Social

• Political

• Conclusion

OBJECTIVES

• Encourage an appreciation for the multi-faceted challenges that the region faces

• Motivate individuals to support initiatives for growth and development

DEFINITIONS

CHALLENGES

Difficulties in a job or undertaking that is stimulating to one

engaged in it.

ECONOMIC DEVELOPMENT

Social and technological progress. Typically

involves improvements in a variety of indicators such as literacy rates, life expectancy, and

poverty rates.

ECONOMIC GROWTH

Implies only an increase in quantitative output.

May or may not involve development.

ECONOMIC GROWTH

Often measured by rate of change of gross

domestic product (e.g., percent GDP increase

per year) determined by total income, production

and expenditure.

ECONOMIC GROWTH

...is always a perennial concern.

ECONOMIC GROWTH

“Once one starts thinking about growth

issues, it’s hard to think

about anything else.” Dr. Robert Lucas

OECSOrganisation of Eastern Caribbean States

AnguillaAntigua and BarbudaBritish Virgin Islands (BVI)DominicaGrenadaMontserratSt Kitts and NevisSaint LuciaSt Vincent and the Grenadines

Post-independent OECS has had to face myriad challenges – social, political and economic in nature.

CHALLENGES

The Great Recession

ECONOMICCHALLENGES

Climate Change

ECONOMICCHALLENGES

Eight Point Stabilisation and Growth Programme

RESPONSES

Engagement with the International Community

RESPONSES

Economic Transformation

RECOMMENDATIONS

Agricultural Diversification

RECOMMENDATIONS

Poverty and Unemployment

SOCIALCHALLENGES

Selected Social Indicators in the OECS

Country Population(2008)

GDPper capita *

PovertyRate

UnemploymentRate

Anguilla

Antigua and Barbuda

British Virgin Islands

Dominica

Grenada

Montserrat

St. Kitts and Nevis

St. Lucia

St. Vincent and the Grenadines

11,040

85,536 10,501 18 (2005/6) 7

3,932 33 (2003) 25

73,193 3,932 33 (2003) 25

105,552 4,650 38 (2007/8) 13

4,952 9,099

49,190 8,399 23 (2007/8) 5

169,960 4,498 28 (2005/6) 19

109,117 4,651 38 (2007/8) 21

* US Dollars from 2009 data.

Youth Delinquencyand Crime

SOCIALCHALLENGES

Diseases

SOCIALCHALLENGES

Millennium Development Goals

RESPONSES

National Response Programmes

RESPONSES

“Westmonster” Political System

POLITICALCHALLENGES

Polarised Politics

POLITICALCHALLENGES

Myopic Political Business Cycle

POLITICALCHALLENGES

Constitutional Reform

RESPONSES

Long-term Development Planning

RECOMMENDATIONS

Political Integration

RECOMMENDATIONS

CONCLUSION

THANK YOU