CSME implementation affected by global financial crisis, Barbados PM says

Thompson. Hermisha Rolle/Dominica News Online photo

Roseau, Dominica: Barbados Prime Minister David Thompson said that the global financial crisis has set back the implementation of the CARICOM Single Market and Economy (CSME) in the region.

Speaking at a press conference at the Fort Young Hotel’s VIP room Friday morning ahead of the continuation of the CARICOM heads of government Intersessional Summit, Thomson told reporters that the global crisis have shifted the focus of countries from the CSME to domestic challenges caused by the crisis.

“It’s clear that it has set it back in the sense that their obviously grappling with domestic challenges means that you do not have the space; either the fiscal space or the time to devote to some of the policy initiatives that would see the progress in relation to the single economy,” Thompson said.

“ And that is only natural because you know we are small islands with limited human resources in our public sector, even our private sectors which are very much part of the development of the single economy are battling with challenges,” he stated.

Thompson mentioned a medium term development strategy that the Barbadian government has prepared, with goals to be accomplished in the quest to implementing the CSME. He said however, that new deadlines will have to be set with more reasonable targets in mid year.

“It is clear though that in July, what we will have to do is re-evaluate the deadlines that were set for the implementation of certain things and to identity more reasonable target s for that implementation,” Thompson said.


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  1. Cesare Bonventre
    March 19, 2010

    First: The finance crisis is NOT global! That is anglo-saxon propaganda!

    The only ones affected are those countries that allow an international cartel of private bankers to print their money, (out of thin air).

    For example, Norway, who does not let the international cartel of private bankers print, manipulate nor lend money; and are doing extraordinarily well – Best in Europe! That is why my retirement monies are in Norwegian Kroners.

    Other successful economies without any troubles include BRIC nations who don’t even use the US dollar to trade amongst themselves anymore. And the BRIC nations GDP is skyrocketing despite the decline in (fake) US dollars.

    Most European & American state aid is interlocked into the International Bank of Settlements, which is tied to World Bank, which is tied into the IMF, which is like all things: Tied into Goldman Sachs!

    AIG is run by Edley of Goldman Sachs!

    All roads lead to: Goldman Sachs!

    Most European & American lives are dictated to by a bunch of arbitrage wielding sycophants & sociopathic criminals who profit by destroying the system!

    Keep your eyes on the Greeks and French whose workers are poised to throw-off the shackles of their international banking masters, (refer to Moody’s new “country revolution rating”)

    There are several new alternatives to the IMF-World Bank now! Why deal with the IMF?

    The IMF (World Bank) admits it is bankrupt! So it has little or no real resources to act as lender very soon – In fact, even the IMF is scrambling to replace the US Dollar as the world currency because the Chinese are about to unfold their new alternative to the IMF! One CURRENT alternative permitted by the IMF is alternative currency swaps between Asian countries without the US Dollar, (google: Chiang Mai Initiative)


  2. Heidi
    March 16, 2010

    Sounds eminently sensible to me. What’s your big vision, guy? And tell me how the region will pay for it?

  3. Piper
    March 16, 2010

    What a lot of hogwash. I have said time and again that these guys are too inward looking. They are too limited to think big. No vision.

  4. March 15, 2010


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