CARICOM leaders agree to pay outstanding $$

Prime Minister Kamla Persad-Bissessar has got an assurance from her regional counterparts that they would start paying up arrears on certain regional projects.

The leaders also agreed to begin a process revive the 37-year-old regional integration body.

These were issues that Persad-Bissessar raised during during her discussions with CRICOM leaders and with the Secretary general of the United Nations, who was a special guest at the summit.

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Jamaican Prime Minister Bruce Golding, who will be chairman of CARICOM until the next summit, made the disclosure at the closing media briefing Wednesday night in Montego Bay.

Golding described the discussions at the summit as "intense" noting that there were varying views on several subjects by the leaders.

He noted that the Caribbean Development Fund suffers from a lack of capital, an issue that was raised by Persad Bissessar. He said some states are reeling from financial stress but made it clear that his own country has paid up US$11 million and hopes to pay in tranches to honour its commitment.

Persad-Bissessar said she is satisfied that efforts will be made to settle outstanding balances for the CDF and that there will be financial support for the regional security.

"My colleagues have said they would make efforts to put in the outstanding payments and we’ll have to give the states time to honour their pledges and commitment to the community.

“In addition, there is a resource mobilisation subcommittee to seek funding over other sponsors," she added. She said Trinidad and Tobago would not provide the additional funding.

"We’ve said that clearly to our colleagues and they fully understand as they’re also experiencing the kind of fiscal difficulty we’re having and I think together we’ll try and source funding elsewhere," she said.

"We meet in September to review the arrangement and commitment given.”

Speaking about the regional security plan, Golding said leaders advanced proposals on how to source resources. He gave the assurance that if members fulfill their commitments there would be enough to ensure continued operation and expansion of the program.

He expets that whehn leaders meet again in September they will be able to source external resources for the program.

Caricom Secretary General Edwin Carrington also announced that after 18 years on the job he is willing to consider stepping down.

"I never came to stay, I’ll certainly think about it,” Carrington said.