Sat | Feb 24, 2018

Caribbean finance ministers to attend Development Bank meeting in Paraguay

Published:Saturday | January 21, 2017 | 11:46 AM
Jamaica's Finance Minister Audley Shaw.

Key development, trade and investment challenges for Latin America and the Caribbean on issues ranging from private sector investments to global trade and political trends will be among the agenda items to be discussed when the Inter-American Development Bank Group holds its annual meeting in Paraguay in March.

Several Caribbean countries, including Barbados, Trinidad and Tobago, Guyana and Jamaica, are among the 48 member countries of the Washington-based financial institutions expected to attend the March 30 to April 2 meeting.

The IDB said that the 58th annual meeting of the Group’s Board of Directors will be attended by ministers of finance or the economy, or central bank presidents.

The IDB Group is made up of the Inter-American Development Bank (IDB), which provides resources and financing for public sector, the Inter-American Investment Corporation (IIC), which focuses on private sector operations, and the Multilateral Investment Fund (MIF), which provides donations and resources to foster innovative small-scale projects in the region.

During the event the IDB Group will release its annual macroeconomic assessment of the region amidst a difficult global economic, political and trade environment. The findings of the macroeconomic report will be released during the Annual Meeting and panels will discuss fiscal, trade, investment and monetary challenges.

During the meeting the IDB and Paraguay will host the “Latin America and the Caribbean: An agenda of growth and development” Business Forum.

“The event will gather close to 500 private sector leaders and high-level government representatives from the Americas, who will discuss key issues to promote sustained economic growth rooted in rising productivity,” the IDB added.

It said the panellists will discuss the opportunities and challenges for the region in areas including the promotion of food security and the growth of agribusiness, how to foster the development of qualified human capital and an environment that promotes innovation and the investment in infrastructure that the region requires to be a more competitive player in the global economy.

At the investment forum, the IIC’s CEO James P. Scriven will reflect on the IIC’s first year of operations since the IDB Group consolidated its private sector. He will focus on regional private sector trends and how the IIC is best positioned to tackle its clients’ evolving needs in key economic sectors such as renewable energy, transport, water and sanitation, agribusiness and telecommunications.

The Annual Meeting will feature the 8th edition of Demand Solutions event featuring big and original thinkers and entrepreneurs. Demand Solutions is designed to inspire creativity and innovation and will highlight the role of women as an engine of innovation and transformation in the past, present and future of Latin America and the Caribbean.