Poverty Grows in Caribbean

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Bridgetown, Poverty level in the Caribbean has reached 39 percent, according to a report that is urging regional governments to reshuffle their strategies to alleviate poverty.

The Barbados-based Caribbean Development Bank (CDB) issued the report ahead of the financial institution´s annual Board of Governor´s meeting in Guyana later this week, the Caribbean Media Corporation (CMC) reported.

The CDB said in the report entitled "Poverty People and Potential" that poverty levels vary between 17 and 39 percent among its member countries.

CDB President Professor Compton Borne notes that this is a cause for concern, and said the poverty rates showed that there was not only inadequate economic strategy, but there is also a greater need for stronger policy to target poverty reduction.

The report indicates that poverty is higher in conditions where the poor do not have access to the benefits of growth and lack access to social services including essential infrastructure, income and employment.

Besides, natural hazards including hurricanes and volcanic activity are also creating further instability, the report said.

The CDB said there are many challenges in the fight against poverty, but it suggests that the region should focus on addressing the redistribution of resources to the most vulnerable, to ensure greater social and economic balance.