'CSME on track' - Task force formed to discuss single currency for region
October 16, 2006
Plans for the imple-mentation of the Carib-bean Community (CARI-COM) Single Economy by 2008 are still on track, says Dr. Edward Green, deputy secretary general of the regional grouping. Regional heads will be meeting in November to hold talks on a document which sets out a road map for achieving the single economy, The Nation's Sunday Sun newspaper reported yesterday.
Green said a task force was commissioned to look into the issue of a single currency for the region, which was one of the essential components of the plan.
"One of the ways that we could move towards the achievement of this would not necessarily be by expecting all countries in the first instance to be in the common currency regulation, but perhaps six or seven countries," Green said.
He pointed to the Organisation of Eastern Caribbean States' (OECS) common currency union, which has maintained stability for the sub-region over the past 15 years, saying this was a model for the CARICOM single economy.
"It has not really solved the problem of debt for some of the countries, but certainly it has protected the countries from severe economic shock," he said....
Chaguaramas treaty revised
Author: BRIDGETOWN, Barbados (CMC)
Source: Jamaica Gleaner
