Most authorities of the last century preferred the stress on the third syllable. Its principal ones are geographical and political. The Caribbean can also be expanded to include territories with strong cultural and historical connections to slaveryEuropean colonisation and the plantation system.
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But, the Bahamas and dependent Caribbean territories were classified as having high incomes. The dependent territories attributed their success to the global perception that they had lower political and economic risks.
While many CARICOM member states were approaching 40 years of political independence at that time, this certainly seemed to have been the case. With the exception of Trinidad and Tobago, other Caribbean countries use fixed exchange rates.
The fact that Trinidad and Tobago did not share the same fate is instructive. Trinidad and Tobago, being an oil-producing state, would have been spared this experience. Non-oil producing countries of the Caribbean typically use a significant portion of their export earnings for oil imports.
Devaluation of the Jamaican and Guyanese currencies therefore inflated the value of their imports over their exports: With regard to OECS, it was stated that: The objectives of this facility were two-fold: Inthe heads of government agreed to establish this monetary union.
The secondary objectives are the stimulation of capital flows from intra-regional trade and investment, improvement of balance of payments, and increased growth and employment. States in category A were already compliant with the CSME criteria, and were only required to maintain monetary stability.
OECS having already been established as a monetary union. States in category B had to make adjustments to become compliant. The strength of regional currencies suggested a monetary union would have been straightforward, but this has proved otherwise.
A 3-phase implementation schedule was proposed.
But, phase 1 stalled in when Trinidad and Tobago floated their currency; and, efforts to proceed without them failed. Paradoxically, it was due to issues of trade and monetary instability. The Barbadian government engaged in deficit spending in the run-up to the election. While, Trinidad developed a programme to diversify its exports to non-oil markets in response to a slump in oil prices in Sep 07, · The World Bank Group works closely with governments to design business regulations and improve regulatory delivery to create transparent and predictable operating environments conducive to business entry, expansion, and international competition.
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Start-ups developing alternative energy solutions should thrive in such an environment, but as a recent World Bank study reveals, innovative ideas are still not easily implemented and commercialized in the Caribbean and Latin America despite an .
MAIN INNOVATION IN THIS PAPER We assess whether and to what extent there is a gender gap in non-financial business environment barriers in the Caribbean The investigation of gender issues is important when considering strategies to improve Caribbean private sector development and international competitiveness.
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