11 December 2014: The Inter-American Development Bank (IDB) hosted a regional ministerial meeting on transparency and integrity in enhancing development and unlocking growth in the Caribbean. Ministerial delegates from six countries – the Bahamas, Barbados, Haiti, Jamaica, Suriname, and Trinidad and Tobago – discussed the positive impacts of transparent governance on growth equity, competitiveness and investment in the region. They also highlighted the costs of corruption and the ability of transparent government to improve public services to citizens.

Participants in the meeting in Miami, Florida, US, on 5 December 2014, also noted: the need for further fiscal transparency and financial integrity; recent innovations in transparent and open government; and positive actions countries are taking to address transparency issues.

Noting that the Caribbean’s growth is falling behind that of other small economies, Gerard Johnson, IDB’s Caribbean Department, said showing that governance is transparent and fair is key to social cohesion and growth. He also emphasized the importance of setting strict priorities for new investments, and focusing on projects that get “the biggest bang for the buck.”

At the conclusion of the event, several Caribbean ministers signed a statement on transparency and integrity, reaffirming the region’s commitment to fight corruption and strengthen governance.

The ministerial meeting was convened on the occasion of International Anti-Corruption Day, observed each year on 9 December. [IDB Press Release] [International Anti-Corruption Day Website]