To navigate complex challenges: Caribbean governments, corporations, and organizations need innovative solutions

BY SIMONE J. SMITH

Hurricane Beryl’s devastating impact on Carriacou, Grenada, in July 2022, throws into stark relief the precarious financial situation of many Caribbean islands. Grenada, already burdened by heavy debt payments, was teetering on the brink of default. Then, they had to face the daunting task of rebuilding after the storm.

This scenario, unfortunately, is not unique. The cycle of debt and destruction caused by intensifying tropical storms is a major challenge for Caribbean nations. Rebuilding necessitates (more money needing to be borrowed) push these already vulnerable countries deeper into debt. This, in turn, limits their ability to fully recover and prepare for future disasters. It is quite the vicious cycle.

Tourism is booming in the Caribbean and with this has come increased foreign investment. Unfortunately, these islands also grapple with entrenched poverty, high youth unemployment, and a lack of skills necessary to thrive in the digital economy. The decline of the international financial services industry due to global crackdowns on tax havens further complicates things. Despite efforts towards digitalization, physical infrastructure limitations, and geographic fragmentation are hurdles that are challenging to overcome.

To navigate these complex challenges: Caribbean governments, corporations, and organizations need innovative solutions. Policymakers, managers, and small businesses, we are all at an opportune time to remain informed and adapt strategies to navigate a constantly evolving economic landscape. Good governance, value-based education, and a focus on building resilience, this is how the Caribbean will break free from our cycle of vulnerability and chart a course towards a more secure and prosperous future.

Every now and then, an email comes in that makes me curious, and what caught my attention is that there are currently individuals here in Canada who want to lend a hand. Since 1967, Catalyste+, a Canadian economic development organization, has been working with governments and businesses in more than 30 countries. They provide advisory services and technical assistance to strengthen skills and organizational capacity.

Over the past three years, Catalyste+ has successfully completed more than 120 projects across the Caribbean, tailoring solutions to each partner’s unique priorities and needs. These projects vary in size and complexity and always aim to equip partners to manage their own long-term growth.

In the email that I received, a Catalyste+ representative shared that In Suriname, Catalyste+ has worked with ten ministries, including: Finance and Planning, Justice and Police, and Economic Affairs, Entrepreneurship and Technological Innovation, providing solutions in: operations, human resources, information technology, and more.  “This has been the rewarding part of CCEDM: topics that you are reluctant to touch, you become more willing to tackle, because Catalyste+ is trying to find the right expert for the journey,” noted Danny Lachman, Director of the Planning Office in Suriname. “Because of these successes, I’m seeing other partners within the government submit assignments to Catalyste+.”

I was also told that CCEDM, funded by Global Affairs Canada, currently runs in nine countries: Antigua & Barbuda, Belize, Dominica, Grenada, Guyana, Jamaica, Saint Lucia, Saint Vincent and the Grenadines, and Suriname.

The email provided a few other islands that Catalyste+ had assisted and partnered with. In Guyana, the Ministry of Legal Affairs worked with Catalyste+ to create operating procedures and training for their Restorative Justice Center. The Saint Lucia Tourism Authority received advice to shape its airlift strategy and implementation plan. Catalyste+ Advisors mentored the Gilbert Agricultural and Rural Development Center (GARD) in Antigua & Barbuda to develop a five-year strategic plan to help youth gain employable, technical, and entrepreneurial skills.

June Jackson, Executive Director of GARD, praised the program: “We were quite impressed with the Catalyste+ Advisor. Her agricultural background allowed her to understand the implications of various issues. We accomplished more in a limited time.”

The Belize Social Investment Fund (BSIF), a quasi-government institution focused on: health, education, and rural development, also benefited from multiple assignments, including budgeting, vocational training design, and updating digital technologies and communications.

Catalyste+ is now accepting applications from Caribbean governments and national agencies for free advisory services and technical assistance in business development, governance, finance, and other key areas through the Canada-CARICOM Expert Deployment Mechanism program (CCEDM).

For more information about CCEDM or to request support, visit catalysteplus.org/ccedm or contact the program manager, Andrea Benavides, at abenavides@catalysteplus.org.