Foreign Affairs Minister, Winston Dookeran, is calling for financial organizations such as the International Monetary Fund (IMF) to review the way economic shocks and major issues facing the Caribbean are dealt with.
He made the comment during the recent International Labour Organization conference on Small Developing States (SIDS) Conference in Apia, Samoa.
The conference discussed the future of economic integration in the Caribbean, its likely impact on the labour market, and how improved partnerships between government, private sector and the labour movement can contribute to better labour market outcomes for the region.
Minister Dookeran also raised the issue of a mismatch between public deficits and private surpluses, particularly in the financial sector.
To address this issue, he called for banking and financial organizations to develop a more development-oriented approach and to facilitate greater involvement of civil society and the private sector.