Syndicate content

St. Lucia

Towards a single market for public procurement in Caribbean small states

Shaun Moss's picture
Building seawalls. Photo: Lauren Day/World Bank

The first ever meeting of the Heads of Procurement of the Organization of Eastern Caribbean States (OECS) took place on June 20-21 in Barbados with the dark storm clouds of Tropical Storm Bret as the backdrop. Fittingly, the discussion focused on how to create a common market for public procurement and to use procurement as a tool to better prepare for and respond to the natural disasters endemic to the region.

Disasters, funds, and policy: Creatively meeting urgent needs and long-term policy goals

Zuzana Stanton-Geddes's picture

Photo: tro-kilinochchi / Flickr

When it comes to responding to disasters, time is of the essence. Help needs to come immediately to save lives; recovery and reconstruction have to start swiftly to lessen the impact.

However, while money is critical to this response, it’s not just about funding. Indeed, funds need to match the event scale, target the right areas and sectors, and smoothly flow to communities in need. But in order for that to happen, sound public policy on risk and frameworks have to be in place.  

To address both urgent financial needs while pursing strategic disaster risk management policy goals, countries have been using the World Bank’s development policy loan with a catastrophe deferred drawdown option or, more widely known as the Cat DDO.  

A Lifetime Approach To Preventing Violence In Latin America

Jorge Familiar's picture
A prevention program against crime and violence in Zacatecoluca, El Salvador, supports sporting activities for the children from this municipality. Photo: Victoria Ojea/World Bank

One Part of Something Bigger

Israel Mallett's picture

It has been almost four years since I first became involved with the regional public-private dialogue initiative, the Caribbean Growth Forum (CGF). In June 2012, I walked into the conference room at University of the West Indies,  Mona Campus for the Launch of the first phase of the initiative and there was something electric in the air. It was new and fresh, but old fears lingered; was this to become 'just another regional talk-shop?'

Wide-eyed and optimistic I was determined that for my small part it wouldn't turn out that way.

So what can be done to contain volatility and spur growth in these countries?

Francisco G. Carneiro's picture
Understanding Macroeconomic Volatility: Part 5. Read parts 1-4 here

How does this affect the small island economies of the Caribbean?

Francisco G. Carneiro's picture
Understanding Macroeconomic Volatility: Part 4. Click to read the rest of the series

What’s the connection between financial development, volatility, and growth?

Francisco G. Carneiro's picture
Understanding macroeconomic volatility part 3
Read parts 1 & 2


There’s good evidence that a country’s level of financial development affects the impact of volatility on economic growth, particularly so in less developed countries, as the charts below demonstrate
 

Do rich and poor countries have different approaches to counter-cyclical spending?

Francisco G. Carneiro's picture
Understanding Macroeconomic Volatility: Part 2

The fact is that a government can soften a recession by increasing spending (the counter-cyclical approach) to raise demand and output. If government reduces spending (the pro-cyclical approach), the likely result is a deeper recession.

Tame macroeconomic volatility to boost growth and reduce hardship in the Caribbean

Francisco G. Carneiro's picture
Volatility in financial markets gets wide attention in the public eye. Less noticed is what we in the development world call macroeconomic volatility—faster-than-desired swings in the broad forces which shape an economy. Think investment, government spending, interest rates, foreign trade and the like.

There are three key questions to analyze: how do these forces interact, what is their effect on overall growth, and what policies are best to follow? All this is of more than academic interest: macroeconomic volatility can bring substantial hardships to millions of people

​Caribbean PPPs come of age: Boot camp-style workshops kick off new approach to partnerships

Luciana Guimaraes Drummond E Silva's picture
Street scene in Delmas, Haiti
“Plantain nu eat like rice” — a Caribbean saying roughly translated as “Make do with what is available to you” — applies to the region’s experience with public-private partnerships (PPPs) as well as to life on the islands. For many decades, implementation of PPPs in the Caribbean has been mixed; government officials and citizens alike have had to “make do” with these results.  

Some partnerships have successfully delivered new or improved roads, ports, airports, bulk water treatment facilities, and electricity generation plants, along with other high-quality infrastructure facilities. However, other promising PPPs faced challenges that were never overcome. ​In many cases, the complexity of the PPP development and implementation process meant long delays in delivering projects; others resulted in questionable value or unexpected costs to governments or consumers. 

To help Caribbean governments fulfill the promise of PPPs to deliver improved infrastructure assets and services, the Caribbean Development Bank (CDB), the Inter-American Development Bank (IDB), the Multilateral Investment Fund (MIF), the World Bank Group (WBG), and the Public-Private Infrastructure Advisory Facility (PPIAF) have created the Caribbean Regional Support Facility. This US$1.2 million program was launched at the High-Level Workshop on Practical Implementation on PPPs in Saint Lucia on June 15.  An important component of its near-term activities, an upcoming series of boot camp-style workshops, will increase technical capacity among Caribbean government officials, offering the depth and breadth that’s been missing from the PPP market.

Pages