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OECS private sector and labour movement urged to help boost economic development
Published on February 1, 2014 Email To Friend    Print Version

By Ken Richards

BASSETERRE, St Kitts (WINN) -- The private sector and the trade union movement are both being urged to better position themselves to help boost the process of economic development in the Organisation of Eastern Caribbean States (OECS) sub-region.

ECCB Governor Sir Dwight Venner
That appeal was made by Eastern Caribbean Central Bank governor Sir Dwight Venner.

Responding to questions after delivering an address on the economic performance of the Eastern Caribbean Currency Union in 2013, Venner said he hoped that an emerging business council would help better organize the private sector’s role in the development process.

“I think the business council which is in its inception, I think they have a very big role to play, because it’s not only the government, everybody says the government the government,” he said.

“The private sector I think is a very important part of the community and they have to organize themselves to participate in this,” he said.

In relation to a labour movement query, Venner indicated that “we do support a strong, vibrant and constructive trade union movement”.

However, he insisted that all the parties involved should make productivity a priority.

“Wages must be reasonable and not in advance of productivity” he observed.

“And we all have to realize, you know, there is a pot of stuff and if wages and other things are ahead of productivity then it becomes a zero-sum game. And so people have to sit down and negotiate these things,” Venner said.

Republished with permission of West Indies News Network
Reads: 8633

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Vinci Vin:

Dear Governor Venner:

Can you kindly specify how and by what means the private sector can effect economic development in the OECS? I am just tired of Caribbean Economists and bankers spewing the old tired economic nonsense to obfuscate the issues and fool the populace into thinking that they are actually doing something. The only effect I can see in your bank is the financing of elite lifestyles in the OECS politically connected class.

Please prove me wrong.


Vinci Vin


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