Caroline Anstey, World Bank Director for the Caribbean, bids farewell and looks back on the last four years

Dear Friends,

Four years ago, I embarked on a special journey as World Bank Country Director for the Caribbean. Working, interacting, and learning from such a diverse and rich group of countries and people has been a great opportunity and a wonderfully rewarding experience. As of November 1, I will be leaving my post to join the World Bank’s Executive Office as President Zoellick’s Chief of Staff.

During this period the Caribbean has moved forward in a number of important areas.

The Organization of Eastern Caribbean States (OECS), which last year celebrated the 25^th anniversary of the Treaty of Basseterre is moving towards economic union. Donors have supported further harmonization and integration of regional projects, and we have seen a number of pioneering approaches to Caribbean challenges including skills, telecoms, public sector reform and the launch of the Caribbean Knowledge and Learning Network (CKLN).

In Haiti, the international community has worked closely with the authorities on presidential, parliamentary and local elections. During this period there has been important progress in security and political inclusion. Macroeconomic stability, transparent budgets, important reforms in procurement and financial management, and the introduction of asset declaration for all officials in charge of public money have all strengthened the Haitian economy and Haiti is now open for business for private investment. The country reached its Decision Point for the Heavily Indebted Poor Country Initiative (HIPC), prepared an extended Interim Cooperation Framework, and is currently finalizing a full National Poverty Reduction and Growth Strategy towards improving Haiti’s economic and social needs.

For the Caribbean as a whole, CARICOM and the international community established the Caribbean-owned Catastrophe Risk Insurance Facility (CCRIF), the first regional disaster insurance facility in the world. Today, the CCRIF is ready to provide immediate access to funds if CARICOM countries are hit by a catastrophic earthquake or hurricane.

On good governance and accountability, we have worked on a number of innovative approaches: a World Bank-IMF-Inter-American Development Bank (IADB) regional conference with Caribbean Parliamentarians; strengthened Parliamentary fiduciary oversight in Guyana; support for Freedom of Information legislation and implementation in the Dominican Republic; output based aid in Saint Lucia; and country systems in Jamaica.

Across the region, growth has picked up. But though the region has made important strides in tackling many of its development challenges, more is needed to ensure that those trapped in poverty and inequality in the Caribbean have an opportunity to improve their futures

In particular, as the recent World Bank – UNODC report on "Crime, Violence and Development in the Caribbean" has shown, crime remains a major impediment to development. A victim of its geography as a transshipment corridor between drug producers and consumers, the social and economic toll from crime and violence emerging from narco trafficking and small arms is high and growing. This will require concerted action at the national, regional and international levels, with the full commitment of OECD countries.

The Caribbean has long suffered from its vulnerability to external shocks and the small size of many of its economies. But as many speakers reiterated during the Caribbean-US summit 2020 held in Washington in June 2007, though size is not destiny, regional integration is. Greater regional integration holds the best promise of moving the prosperity agenda forward, and the World Bank and international partners are committed to supporting that goal.

These four years have been, without hesitation, the best years of my professional career working and dealing with a wonderful group of partners in the Caribbean. I will take that experience and those friendships with me as I now move to President Zoellick’s front office.

I know, too, that you will give a warm Caribbean welcome to my successor, Yvonne Tsikata, currently Sector Manager for Poverty Reduction and Economic Management in the Africa Region, who will take up the position of Country Director for the Caribbean on November 15th. 

Caroline