ONCE upon a time, press conferences

ahead of or during annual Caribbean Development Bank (CDB) meetings were essentially about receiving reports overloaded with figures and statistics, comparable growth and decline assessments, comparative financial analyses, and reviews accompanied by laudable, lofty projections based on a sum total of all the above.

But not anymore.
President Hyginus ‘Gene’ Leon’s year-long tenure in the seat first occupied by founding predecessor Sir Arthur Lewis at the head of the table has brought him in regular contact with the press; but, unlike others, he comes virtually bare-handed: No pen or paper, smartphone or solar calculator.

His latest **face-to-face exchange with regional journalists was in Saint Lucia on August 16, when he and Prime Minister Philip J. Pierre sat together to launch the hybrid start of the region’s top development bank’s 53rd AGM, to take place in Saint Lucia in 2023.

Following an opening ceremony that featured a joint PowerPoint presentation by the respective presidents of the island’s national youth and student councils on their visions of involvement in regional youth entrepreneurial and economic ventures, the CBD Chair and the Prime Minister offered a double-barreled assessment of the Caribbean’s future, both in the context of the new global normal.

The CDB president said it was “more than a distinct pleasure to address the regional press leading to the 53rd AGM in Saint Lucia, but for the entire region and the world in 2023… to promote the Caribbean in a global space…”

Then, utilising the patented and branded native Saint Lucian and Caribbean medium of traditional creole communication and cultural messaging through storytelling, Dr. Leon gave the simplest ‘Tim-Tim’ rendition ever heard by most of the present and Online audience of a vision for futuristic Caribbean development, but starting now.

He invited listeners and viewers to “Imagine a region where everyone cannot be rich, but have sustainable livelihoods, connected in all spaces… and at the forefront of innovation.”
If that’s the vision, he said, there are three elements: ‘A challenge, with a goal — and how we utilise industrialisation of knowledge to translate it into investment opportunities.’

Dr. Leon noted that ‘food, water and energy’ are current problems, but old past models are history, and governments alone can’t — and should not try to…’ use old approaches to new problems.
Instead, he said, the region need not only depend on the private sector, but on joint private and public ‘partnerships in development…’

Whatever approach is adopted though, he maintained that ‘it can’t be done without finance… which has to be accessible, adequate and affordable’ and ‘multi-sourced by our own efforts by saving our own finance, mobilising private sector finance and to get more concessional finance, with a large pool listing…’

Touching briefly on the region’s sorry experiences with outdated mechanisms of assessments and measurements of development, Dr. Leon pointed out that the region needs to fast-track its exit from the current system where ‘per capita gross national income makes us too rich’ to access concessional finance…’

In this regard, he pointed out that the CDB ‘is working on another mechanism that depends on our ability instead of our history of paying the price for progress…’, which ‘also has to be multi-instrument (to distinguish between finance for disaster versus as being in post-disaster recovery mode), or longer-term finance…’

If these measures must be implemented, he said, ‘we should design internally-consistent mechanisms that are temporally consistent and need a financing-engineering idea…’
Another necessary component was ‘to adjust our mindset, with the baton switching to youth, who must see this as a transition of a continuum from young to current leaders, because work does not get less as you get older…’

‘It’s about future of the nation, the region and world…. We are our own keepers for the future for tomorrow,’ Dr Leon added.
Learning, he added, also has three sections: ‘Inquiry, discovery and transformative strategies…’ and which should cater ‘from birth to grave…’

The President identified ‘Investment, mobilising finance and Implementation’ as the final underlying three components to give life to his outlined vision, as his ‘message for this year, until next (CDB) AGM here, when the nation, the region and the world will benefit…’

‘Development,’ he said, ‘is not about gaps, but a wholesome plan that is economic, social and institutional.’
As such, Dr Leon concluded, ‘Everything is possible, if we are creative in our approach… and we can predict our future, but only if we create it…’

Prime Minister Pierre attended with several hats, including the host country’s minister for finance, economic development and the youth economy, but on this occasion his double-headed cap was as Chair of both the CDB and the Eastern Caribbean Central Bank (ECCB).

The Prime minister, himself an experienced economist and business director, noted that ‘Difficult times will now be more the norm than usual… and youth involvement is imperative,’ as their situation and those of young women is critical to be harnessed for regional development.

Following-up on Dr Leon’s paperless and unassisted presentation, the prime minister argued that ‘Education must be reoriented to address mismatches…’ and urged that ‘Governments should invest in a youth economy, focusing on youth entrepreneurship and business growth, to harness and channel untapped creativity…’

According to PM Pierre, ‘I want to see that take root across the Caribbean and to work with CDB on it…’ and he promised that during his one-year term as chair of both banks’ boards of directors, he will concentrate with the principal leaders of the two regional banking institutions (serving CARICOM and the OECS) ‘on working towards ensuring adequate access to financing and support for new mechanisms, as current one devoid of space for maneuverability.’

PM Pierre also reiterated his government’s support for the joint efforts of the CDB and ECCB; and said he’s ‘also looking forward to the CDB’s 2023 AGM.’