Caribbean Report 23-09-1991
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Date
1991-09-23
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Publisher
The British Broadcasting Corporation
Abstract
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Report commences at the end of the headlines.
Table of Contents
1. St. Lucia’s private sector is celebrating the decision by Prime Minister, John Compton, not to implement the Common External Tariff on 1st October 1991. Pete Ninvalle reports from Castries on the decision to delay the implementation. Comments from Trade Minister George Malett, Prime Minister John Compton and President of the Chamber of Commerce Richard Peterkin (00:00-03:11)
2. Whilst seven Caricom countries have opted to adopt the CET, Antigua has deferred the implementation along with four other countries. One of the main architects of the CET, Earl Bacchus Head of the Caricom Export Development Agency, states that the reluctance of some countries to implement the CET is due to the fragile state of regional economies. Sherman Williams of the Caribbean Tourism Organization, argues that the CET will have negative effects on tourism in the region. Earl Bacchus disagrees and also condemns the hording of imported goods to escape new tariffs by the private sector (03:12-07:09)
3. Another CET issue addressed is the relevance of the system at a time when the Caribbean’s main trading partner, the United States, is calling for market liberalization and views the CET as a protectionist policy. Jamaica Ambassador in Washington, Richard Bernal, states that such concerns by the US are unjustified (07:10-08:03)
4. Last December, Pat Thompson Executive Director of the Caribbean Association of Industry and Commerce, warned the regional governments against the implementation of the CET. In response to this view, Earl Bacchus urges all Caricom countries to implement the CET by January 1992 (08:04-09:54)
5. The Jamaican government announces that as of Wednesday it will abolish all restrictions on the movement of foreign exchange in Jamaica. Gary Alleyne reports with an interview with Prime Minister Michael Manley (09:55-13:43)
6. Hundreds of public workers in Barbados took to the streets today to protest against Prime Minister Erskine Sandiford’s 8% wage cut and planned layoffs as part of an IMF structural adjustment package. The march was organized by the National Union of Public Workers (13:44-14:34)
2. Whilst seven Caricom countries have opted to adopt the CET, Antigua has deferred the implementation along with four other countries. One of the main architects of the CET, Earl Bacchus Head of the Caricom Export Development Agency, states that the reluctance of some countries to implement the CET is due to the fragile state of regional economies. Sherman Williams of the Caribbean Tourism Organization, argues that the CET will have negative effects on tourism in the region. Earl Bacchus disagrees and also condemns the hording of imported goods to escape new tariffs by the private sector (03:12-07:09)
3. Another CET issue addressed is the relevance of the system at a time when the Caribbean’s main trading partner, the United States, is calling for market liberalization and views the CET as a protectionist policy. Jamaica Ambassador in Washington, Richard Bernal, states that such concerns by the US are unjustified (07:10-08:03)
4. Last December, Pat Thompson Executive Director of the Caribbean Association of Industry and Commerce, warned the regional governments against the implementation of the CET. In response to this view, Earl Bacchus urges all Caricom countries to implement the CET by January 1992 (08:04-09:54)
5. The Jamaican government announces that as of Wednesday it will abolish all restrictions on the movement of foreign exchange in Jamaica. Gary Alleyne reports with an interview with Prime Minister Michael Manley (09:55-13:43)
6. Hundreds of public workers in Barbados took to the streets today to protest against Prime Minister Erskine Sandiford’s 8% wage cut and planned layoffs as part of an IMF structural adjustment package. The march was organized by the National Union of Public Workers (13:44-14:34)