OECS economic union stalls

The Prime Minister of St Vincent and the Grenadines, Ralph Gonsalves, said the global economic crisis has negatively impacted the attempt by the Organisation of Eastern Caribbean States (OECS) to forge an economic union.



Dr Gonsalves said as a result of the crisis, the year-end deadline previously set by leaders for full implementation of the arrangement is in jeopardy.



Dr Gonsalves heads the joint task force between the OECS and the Eastern Caribbean Central Bank that is coordinating the sub-region’s response to the global economic crisis.



However, Dr Gonsalves, said there has been an increase in enhanced cooperation and in actual policy making.



He said the OECS Heads of Government will need to revisit the current timetable to come up with a more realistic schedule.