By Richard Johnstone | 16 October 2014

The International Monetary Fund is to bring together Caribbean governments to develop plans to boost growth in the region through tackling a number of economic blockages.

The fund announced on Wednesday that it would convene a high-level conference in collaboration with Jamaica’s Ministry of Finance and Planning later this month.

The Unlocking Growth in the Caribbean event will be held on October 23-24, and will focus on overcoming problems to economic growth in the region. These include how energy provision can be improved, how tax regimes can help encourage investment, and what steps are needed to strengthen financial sectors.

Alejandro Werner, director of the IMF’s Western Hemisphere department, said the outlook for the Caribbean economies continued to be challenging.

‘This forum will be an opportunity to further our ongoing dialogue with the region’s policy makers on how to work toward stronger and inclusive growth in the Caribbean by addressing important issues such as energy provision, tax incentives and financial sector resilience.’

The event will be opened by Jamaican Prime Minister Portia Simpson Miller. It is expected that other heads of government as well as central bank governors and other high-ranking officials from Caribbean countries will also attend.