Topic > Caribbean Integration Essay - 782

Integration provides a larger market for member states (Development Pathways in the Caribbean). Integration programs offer numerous benefits to Caribbean countries; these programs “exceed” CARICOM's capacity. Therefore, CARICOM stated that to increase its influence, Caribbean countries must work together (CARICOM). Developed countries are coming together to increase their productivity at different levels (International Monetary Fund). It is clear that developing countries are experiencing rapid growth, and rapid growth requires additional resources. In May 2016, IMF directors encouraged Guyanese authorities “to move towards greater economic diversification by pursuing reforms to promote competition and improve the business climate” (International Monetary Fund). Another country facing similar conditions is Belize. Belize has been vulnerable to adverse shocks largely because of its weak external strategies. The country's limited resources prevent the country from halting its economic growth. According to Amandala, the opposition leader commented: “The government has mismanaged the economy. Shrimp is down, bananas..., sugar... payaya is down. Our foreign exchange is running out; last year it was down about $150 million” (Goodin 55). Therefore, local governments in the Caribbean are driven to revolutionize strategies to maximize