Short-term planning hinders long-term dev’t in ECCU – Venner

Governor of the Eastern Caribbean Central Bank Sir K. Dwight Venner (Internet photo).

Basseterre, St. Kitts – The disruptive nature of electoral politics in the eight Eastern Caribbean Currency Union (ECCU) nations continues to inhibit their long-term development, Governor of the Eastern Caribbean Central Bank (ECCB), Sir K. Dwight Venner said last week.

And Sir Dwight is proposing that political and civil society forces in the individual countries agree on a long-term development plan that remains constant even if there is a change in the ruling administration.

“We have a five-year political cycle and, as is per normal, after three years, then we get into the election mode. So, in effect you end up with three years. But that is not a bad thing in and of itself. But what I am saying is that in a country, there must be social and cultural mechanisms to get a consensus going so that when one government succeeds the next, they don’t throw everything out because of the societal agreement,” Sir Dwight said during the ECCU economic Review.

He said that ECCU nations must therefore find the common areas on which there is political agreement and set time-bound developmental goals. “And so you can eliminate some of the things that we disagree on. But we have to have a general gaol so that if there is a change, I don’t see any massive ideological divide between people who organise themselves into different political parties.”

He said that since ECCU nations are not like Singapore — where a single party has been in power for 40 years — or communist China, there must be “some form of internal consensus on the issues that are important to the country”.

“And that is a social mechanism that we have to strive for. It won’t happen overnight … but people create for themselves, if they want to progress, these means of social consensus.”

He further spoke of Holland, where the government, the private sector, and labour unions have agreed on a developmental path. “Governments change and they have coalitions but there is a path. Because they understand that they have to have this social cohesion in order to have competitive economies and for us, new to independence … you have to decide these things.”

Sir Dwight said that since the ECCU nations are democratic societies, “it is placed upon us the responsibility to form those consensus-making arrangements”.

“And we are not stupid people so we can do it. … We have to say ‘It is necessary and we have to find a way to do it.’ Otherwise, … 2020 is a pipe dream. But it can’t be because people live in these countries and have to survive in a competitive world. And we can’t be doing our own thing and the rest of the world is marching ahead…”

The ECCU has set 2020 as the deadline for the achievement of its developmental objectives.

“These objectives will have to be carefully spelt out in terms of growth, employment and the benchmark of the human development indices. We then need to develop the appropriate policies, bearing in mind that in developing countries such as ours policy-making is a cross between an art and a science and involves making judgements and correcting mistakes,” Sir Dwight further stated.

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One thought on “Short-term planning hinders long-term dev’t in ECCU – Venner

  1. When countries like SVG are verging on, or are already bankrupt, trading whilst insolvent, about to fail, about to renege on undertakings, about to default on loans, bills and bonds. How can they possibly plan for the future, under Gonsalves and his dreaming team they can’t even plan for the present. They certainly didn’t plan for the past, they will go down in history not just as a group dreamers, but a group of diabolical liars.

    Belonging to several different associations [which includes ALBA] also put an enormous strain on things. The confusion is more than Gonsalves and the Dreamers [good name for a pop group] can cope with. Dereliction of duty is created towards 1 or more of these associations, because we can’t integrate with them all.

    Like Nazi Germany the ULP are generating many collaborators, people who support them only for payment or a job, and in many cases just for a few crumbs.

    There are more people on the poor list for handouts than ever before in all the past history of SVG, this is because this Marxist regime can only survive if people are poor and destitute, they can make false promises to that type of person, they are what Gonsalves describes as the ‘dunce class’.

    For CARICOM to be successful they need to become a Marxist association, then the choice between them and ALBA would not be so great.
    You must be aware that those countries who are ALBA members really look forward to the destruction of CARICOM, it stands in the way of ALBA’s progression. All the pretence of being loyal to CARICOM is just a bucket of Marxist crap.


    Posted by Peter | March 2, 2012, 08:48

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