Caribbean Region: Current Economic Situation, Regional by World Bank Group

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Extra resources for Caribbean Region: Current Economic Situation, Regional Issues and Capital Flows, 1992 (World Bank Studies)

Sample text

In practice, they do not transfer their rents to the consumers, but serve to raise public revenues, cross-subsidize exports of non-traditional agricultural produce, or simply appropriate the rents for their own benefit. xxviii. Of particular concern for the economy, but also for the environment, are inadequate land tenure arrangements. In the Commonwealth Caribbean, significant land holdings which need to be protected are in government hands, but governments have difficulty in enforcing the relevant legislation.

In considering the needs of the area, particular attention was given to those countries experiencing serious fiscal and balance-of-payments difficulties. 2 When the CGCED was established, most of the Caribbean countries were going through a difficult period. The double-digit inflation and world economic recession that began in 197374 had severely affected most of the Caribbean economies. The quadrupling of oil prices, the large increases in prices of imported foodstuffs combined with a severe contraction in international demand for some of the region's major exports of goods and services, including tourism, had particularly dire consequences.

Policies, strategies, action plans, and their implementation through individual projects are needed to protect the environment after the trade-offs have been critically evaluated. Governments need to formulate and implement action plans, for which donor technical and financial assistance would be required. These will determine the priority in each country which, in general, will include coastal zone management, water, liquid and solid waste issues, land tenure and use, and property rights. At the regional level, cooperation in determining environmental priorities and in planning and implementing environmental policies should be enhanced by active participation of existing institutions, such as United Nations Environment Program (UNEP), Caribbean Environmental Health Institute (CEHI), Institute of Marine Affairs (IMA), and Center for Environmental Research Management (CERMIS).

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