Central Bank Governor Dr Kevin Greenidge says the Caribbean must move beyond post-COVID recovery and focus squarely on building resilience amid new economic and environmental threats.
Speaking at the opening of the bank’s 45th Annual Review Seminar at the Radisson Aquatica Resort on Monday, Greenidge warned that merely recovering from past shocks is no longer sufficient.
“We now face the critical task of building resilience against tomorrow’s uncertainty,” he told an audience of economists, central bankers and policymakers from across the region. “Recovery alone is not enough. True resilience requires that we anticipate future shocks, that we transform our vulnerabilities into strengths, and that we build institutions and systems capable of thriving and accelerating change.”
Greenidge noted that while the Caribbean has shown signs of economic recovery since late 2022, it must now confront growing risks, including volatile energy and commodity prices, climate change, cyber threats and rising global uncertainty.
To navigate these challenges, he called for agile fiscal policies, stronger debt management, inclusive digital financial ecosystems, and climate-resilient growth strategies that protect vulnerable populations.
“It requires a reimagining of the role that central banks in our region play – going beyond traditional monetary policy,” he said. “Some of that will come out today, including our role with respect to green finance, our payment systems…. These are areas we must address.”
Greenidge also emphasised the need for deeper regional capital markets and stronger regulatory systems to foster innovation while maintaining financial stability.
Urging greater involvement from younger economists and public servants, he revealed that all Central Bank economists are now required to present research at the seminar as part of their professional development.
The seminar, held under the theme From Recovery to Resilience: Ensuring Macroeconomic Stability Amid Emerging Risks, has gathered representatives from the Eastern Caribbean Central Bank, Suriname, Aruba, the Bahamas, Trinidad and Tobago, Belize, and development partners like the IMF and World Bank.
It runs until July 26 and will explore topics ranging from sustainable growth and trade to big data, climate finance and fiscal policy.
(SM)
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