E.S Williams

*CSME is important for eceonomic and social development of the caribbean region.
§ *The exploittion of natural resources in the Caribbean, and dependence on prefential trade has caused economic develpmnent to lag behind
§ *Deveplopment of carbbean countries has lagged behind because of their expliotation of natural resources

§ *development in the caribbean has lagged behing those of comparible countries like singaporo, Ireland and Cyprus because we depend on exploitation of natural resoures and on preferential rates for agricultural produce( sugar and bananas ).
§ *All the countries started off the same position and now the Caribbean countries are lagging behind.

§ Per capita income is one of the main economic development indicators. HDI:
Ireland=4
Barbados=31




§ With the exploitation of resources and dependence on preferential agreements, the Caribbean experienced a decline in both income per capita and GDP.
§ GDP experience lower growth rates with Asia moving 3times its pace

§ However, high oil prices have incresed incomes per capita reulting in economic growth, improving infrastructure and tourism facitlities

§ Though there was underdevelopment before 2000, progress and development has been made thruough income, health, education and life expectancy

§ All countries are middle income except haiti and guyana
§ Although there are high literacy and life expectancy rates, poverty and income inequality is also high which can cause adverse effects


§ the main economic challenges facing there gionis the loss of preferential arrangements- move away from agriculture and access to European market is challenging..
§ higher productivity levels-
§ strengthen fiscal positions and reduce the public debt burden-