CARICOM nationals benefit from macroeconomic management and fiscal policy regional training course in Saint Lucia

Wednesday, March 17, 2010 – Prime Minister and Minister for Finance, Economic Affairs and National Development, Honourable Stephenson King says, the economic success of the region is dependent on professionals, who are dedicated to implementing effective policy and technical support from agencies such as the Caribbean Regional Technical Assistance Centre CARTAC, and the IMF (International Monetary Fund) Institute.

The prime minister made those comments at the opening of a two-week Macroeconomic Management and Fiscal Policy Regional Training Course on Wednesday.

The training course, which moves into day two today, is being facilitated by the Ministry of Finance, Economic Affairs and National Development, and was developed through the collaborative effort of the IMFund Institute, and the Caribbean Regional Technical Assistance Centre (CARTAC).

“This course—designed for middle and senior management officials in the ministries of finance, planning and the economy and at central banks—is as timely as it is relevant. The coverage of the course on a range of relevant topics including the following, is comprehensive: tax and expenditure policy, fiscal analysis, rules and standards, fiscal vulnerabilities, fiscal and monetary policy co-ordination, public debt management and financial programming and policies. These are all important for the proper understanding and appreciation of the goals, objectives, content, costs, benefits and impact of economic policies.”

Programme coordinator of CARTAC, Therese Turner-Jones says her institution's focus on the macroeconomics of CARICOM over the past three years, has become a priority, in light of the weakening of the financial programming teams in a number of countries and the subsequent loss of institutional capacity.

The focus of the training course, she explains, will build capacity on a sustainable basis in macroeconomic analysis, forecasting, and performance monitoring within ministries of finance and central banks.

“We are looking at a whole range of issues: what is the cause of the recession? How do we interpret some of the information from what is happening in external economies that affects the region, and trying to figure out ways to make our fiscal situation more resilient to external shocks.”

Representatives from 21 countries are attending the CARTAC/ IMF Institute training course, is scheduled to end on March 30.

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