The difficulties facing Caribbean countries on the economic, social and political fronts are being played out for all to see on a regular basis.
But while we as a people continue to focus on some of the negative aspects of our daily lives and, rightfully so, we should never lose sight of those positive developments taking place throughout the region that can only redound to the benefit of the massive.
This thought is important because it suggests quite clearly that irrespective of the extent of the challenges we must overcome going forward, there is still a flicker of hope for our countries once those in positions of leadership are able and willing to do the right things and indeed do so without fear of favour. Here are three examples:
In Guyana, the new president has signalled his intentions to preside over the government in a manner that is consistent with the training and discipline he would have developed over the years as a military man.
From time to time, the people of the Caribbean have been troubled with issues of poor governance and countless allegations of corruption and misconduct on the part of ministers of governments.
Yet, with few exceptions, do we see those ministers being held accountable for their actions. President Granger, in a tangible manner, has mandated that all of his ministers sign a code of conduct that will govern their behaviour as servants of the people. Given his background, I am confident that he will enforce the code of conduct with a firm hand. How refreshing an undertaking!
In Barbados, the main trade unions have finally emerged from retirement over the past five years or so and are now cogently addressing the plight of the workers they represent in a manner consistent with good industrial relations’ practices. This is a most welcome development in a country where over three thousand public officers lost their jobs despite a solemn promise by the government not to send home any workers. My only wish is that in the future the trade unions will be as potent in their dealings with the government over the working conditions of public servants as they are in their positions with private employers.
And still in Barbados, the Central Bank has recently launched an initiative that would see $10 million in savings bonds available to the public for investment purposes, in the first instance. This undertaking is coming at a time when commercial banks have been given a free hand in the setting of interest rates on saving accounts. These savings bonds carry a relatively high yield in the region of five per cent and the interest earned there from will be free of income taxes. More importantly, the availability of these investment instruments presents an opportunity for individuals to create portfolios that can now include a combination of risky and riskless assets. Such diversification, according to modern portfolio theory, should reduce the overall risks associated with undertaking investments in general.
The examples cited above demonstrate that whether it is on the political front, or the industrial relations climate, or from a financial perspective, there are indeed some signs of hope for the people of the Caribbean at a time when our countries continue to grapple with a significant amount of serious issues that on occasions seem insurmountable to overcome.
The critical factor going forward is the extent to which we as a people are able to create opportunities that can cumulatively improve our daily lives and sustain them. Existing evidence indicate that we absolutely can if we are determined to so proceed.
Email: [email protected]
