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St. Kitts and Nevis Is Now Part of An Agreement of a US$10-Million Development fund Addressing Economic Dislocation Caused by the CSME
December 13, 2005

Regional finance ministers have agreed to a US$10-million development fund, to be used to address any economic dislocation caused by the Caricom Single Market and Economy (CSME), which will be implemented on January 1.

The recommendations of the ministers are to be studied by a technical team, compromising representatives from the Caribbean Development Bank, C Y Thomas, Prof Norman Girvan, Havelock Brewster and all central bank governors in the region.

This team is expected to examine and determine how funding would be arranged and how states would access the fund.

The technical team, is expected to present its report to Caricom's Council for Finance and Planning, scheduled for Jamaica on January 24.

The council will then send its recommendations to the first inter-sessional meeting of the heads in Port-of-Spain, Trinidad from February 9 to 10.

That meeting of Caricom heads will follow the operationalization of the single market component of the CSME, with at least four countries on board - Barbados, Guyana, Jamaica and Trinidad and Tobago.

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