We next come to the CSME which involves the removal of substantial restrictions between the countries of the CARICOM in the movement of goods, services, capital and labour across regional borders. The critical question then relates to St Kitts and Nevis’ participation either as a single entity or a member of a consolidated OECS Economic Union bloc.
We should not, just because of sentimental reasons, make use of a new freedom to invest funds abroad when a local investment will serve our needs better and more effectively. 4. Monetary policy in an environment of no exchange controls The new situation brings new challenges also for monetary policy.