“And if you are engaging and abusing it, the Trustee is best placed, because they have to monitor everything.”
Read MoreThe Department of Finance, through the Accountant General’s Department, has introduced a new and innovative Financial Management System to replace the 25-year-old Smartstream system.
Read More“That’s why when we measure productivity we have to adjust for inflation. We have to discount the effect of inflation.”
Read MoreThe National Competitiveness and Productivity Council (NCPC) continues to engage stakeholders on the soon-to-be-enacted Insolvency Bill, which has had its first reading in the House of Assembly. Insolvency is a financial state where an individual or organization is unable to meet its debt obligations, often leading to legal proceedings such as bankruptcy, where the debtor seeks relief from some or all debt obligations.
Read MoreThe Procurement Administration Unit in the Department of Finance is finalizing regulations to the new procurement legislation enacted in June of 2021. Ag. Director of Procurement Administration, Anthony Jean, said the impact of procurement on the estimates of national expenditure is significant as government is the biggest procurer of goods, services, and works on the island.
Read MoreIn an effort to foster a greater understanding and utility of the Caribbean Public Procurement Notice Board (CPPNB) and the National Advertising Portal(NAP) a three-day capacity-building workshop was conducted with Senior Procurement Officers in the Public Service. Director of the CARICOM Single Market, Titus Preville said that the Notice Board and Advertising Portal form part of the electronic tools that have been provided as part of the public procurement regime pursuant to Article 239 of the revised Treaty of Chaguaramas.
Read MoreThe National Competitiveness and Productivity Council (NCPC) has achieved another milestone toward fully implementing the Collateral Registry. The Collateral Registry supports the recently passed Security Interest in Movable Properties Act. Economist and Project Leader at the NCPC, Sharma Mathurin said this project is now halfway through implementation with a formal launch scheduled for the latter part of this year.
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Covid-19 has created what has aptly been described as the “new normal” causing a blended approach to be adopted by all sectors in society. This has caused the rapid penetration and dependence on ICT for communication, business activity, education, and the list goes on.
This rapid dependence on ICT has undoubtedly widened the digital divide particularly for small island developing states like Saint Lucia with many not having access to technology or appropriate technology to seamlessly navigate this new normal.
Reducing the digital divide is projected as one sure way of increasing Saint Lucia’s competitiveness and sustaining economic development.
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