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Showing posts with label Caribbean Development Bank. Show all posts
Showing posts with label Caribbean Development Bank. Show all posts

Monday, December 7, 2009

Mixed reviews for the Caribbean Court of Justice (CCJ)

Mark Beckford, Staff Reporter





Susan Goffe, chairperson, Jamaicans for Justice.




Despite assurances from the Caribbean Court of Justice (CCJ) about measures put in place for the independence of the court, Susan Goffe of Jamaicans for Justice is expressing some concern about how it is administered.

Goffe noted that while there was a Regional Judicial and Legal Services Commission to oversee the selection of judges, the arrangements do not go far enough to ensure the legitimacy and security of the court.

Goffe added that more changes are needed to secure the independence and permanence of the court than the amendments already made to the Treaty of Chaguaramas. This treaty is the agreement between the Caribbean states, setting up the CCJ, among other things.

Goffe believes that any legitimisation of the court should be done by enshrining whatever changes there should be in the Jamaican Constitution. With that said, she believes serious national discourse should begin.

Judiciary independence vital

Answers to concerns about the independence of the court from manipulation are posted on the CCJ website.

"It is generally accepted in our societies that independence of the judiciary is a vital and essential ingredient of the rule of law, a basic principle of social engineering in CARICOM member states.

"To ensure independence of the members of the court, appropriate provisions have been elaborated in the agreement establishing the CCJ to provide for credible institutional arrangements," the website read.

It continued: "First, unlike the situation with the European Court of Justice, where Judges are appointed by the ministers of government, judges of the CCJ are appointed by a Regional Judicial and Legal Services Commission, whose composition should offer a reasonable degree of comfort to the court's detractors."

The funding of the court by member states of CARICOM has also raised the spectre of influence by these same states. However, the CCJ on its website said that certain steps have been put in place to ensure that this does not occur.

"In order to pre-empt this eventuality, the heads of government have mandated the ministers of finance to provide funding for the recurrent expenses of the court for the first five years of its operation."

A trust fund has been established and capitalised in the sum of US$100 million, so as to enable the recurrent expenditure of the court to be financed by income from the fund which is administered by the Caribbean Development Bank.

Former Solicitor General Michael Hylton said this provision has earned his confidence in the court.

Beyond the rules

"Political influence doesn't mean that a politician is going to call you and tell you what to do, but if a country doesn't like a judgment, it can withdraw its payment. This cannot occur under the treaty and with the trust fund that is set up," he said.

Attorney-at-law R.N.A Henriques, however, believes that independence goes beyond just putting in rules.

"We have had a history in Jamaica, where the bias of rulings are in favour of the government in cases. Therefore one is not really insulated by a Constitution. The dispensation of the rulings will be based on integrity not by what is in the constitution. Time will tell, that is why it is important that the judges are of a certain calibre."


December 7, 2009


caribdaily



Saturday, December 5, 2009

Poor outlook for doing business across the Caribbean, says CDB president

GEORGETOWN, Guyana -- President of the Caribbean Development Bank (CDB) Compton Bourne believes the outlook for doing business in the Caribbean is a very poor one as it takes “forever” to get the paperwork and regulations to set up a business in the region.

Addressing the Georgetown Chamber of Commerce and Industry’s (GCCI) annual awards and dinner presentation on Wednesday, Bourne says another challenge is the slothfulness of the court system in resolving business disputes.

He has called for authorities across the Caribbean to address these shortcomings, so that the environment for doing business can be more conducive and attractive.

Turing his attention to the global financial crisis and its impact on the Caribbean, Bourne said several sectors in the Caribbean have been severely hit by the crisis, including tourism trade and bauxite.

He also cited the decrease in foreign investment in the Caribbean as another effect of the crisis.

However, Bourne said the CDB will not sit idly by and allow the crisis to shrivel the regional economies as already it is responding to the challenges facing the region.

“We at the CDB have been doing our best to modify policies and provide assistance... we have reduced the counterpart funding required for countries seeking to borrow money from the CDB, we are currently making fuller use of our policy based loans which provide strategy support to countries." Bourne explained.

He added that the bank has also reduced the interest rates continuously to the clients of the bank.

The CDB president added that two major initiatives are on stream to assist indigenous banks and hotels affected by low visitor arrivals.

The CDB will provide liquidity support to some banks, particularly indigenous banks that are in some difficulty, and liquidity support to some hotels in the region that would normally be viable but whose vulnerability is threatened by fall in visitor arrivals.

December 5, 2009

caribbeannetnews