Presenter:- Mrs. Josette Maxwell-Dalsou Chief Economist Economic Planning Ministry of Finance, Economic Affairs and National Development

A. Features of a Medium Term Development and Strategic Plan B. Principles Guiding the development of the Plan C. The Process in a nutshell

Identifies socio-economic challenges facing the island and enables the development of a structured framework of policies and programmes to fulfill the vision for the country in the medium term Allows for the delicate balance between attaining high levels of growth and development versus maintaining macroeconomic stability, and prudent fiscal and debt management. Promotes new areas of growth to reduce vulnerabilities and while building resilience Provides a broad blueprint for development (but allows for adjustments to reflect sector specific goals and needs) Improves governance by facilitating broad participation and fostering an all encompassing approach to development

 Forward looking Adapting to change, opening new horizons, and promoting sustainable development.  Holistic Harmonizing economic development with social, cultural, and environmental development to achieve the goals of growth, stability, and equitable distribution of economic opportunities.  Consistent Harmonizing public and private sector allocation and utilization of economic resources, and maintaining the consistency of macro and sector plans, and of policy goals and measures.  Globally oriented Examining global trends, to grasp new opportunities for development.

 The entire process and resultant strategic document will be in accordance with the principles of Managing for Development Results (MfDR).  MfDR is a management strategy focused on development performance and on sustainable improvements in country outcomes.  5 Main Principles Importance of Managing for Development Results

 Principle 1. At all phases – from strategic planning through implementation to completion and beyond – focus the dialogue on results.  Principle 2. Align actual programming, monitoring, and evaluation activities with the agreed expected results.  Principle 3. Keep the results reporting system as simple, cost- effective, and user-friendly as possible.  Principle 4. Manage for, not by, results, by arranging resources to achieve desired outcomes.  Principle 5. Use results information for management learning and decision making, as well as for reporting and accountability.

Training In-depth interviews and conduct of detailed social and economic analysis Report Preparation & Revision Implementation via PSIP & Annual Budget Monitoring & Evaluation Review of the institutional framework & Country Performance Initial data gathering

 Review of the current framework and amending it for comparability with best practice  Identify the components and develop a coordinated approach to the planning process  Assure approval at the highest level of government authority to ensure a level of respect for the MTDSP

 Collection of existing planning documents and other relevant reports  Review of planning documents and relevant reports  Conduct in-depth interviews to inform the MTDSP

The training will allow for broad stakeholder involvement and will include:  The strategic planning process  Identification of core values and vision statements  SWOT analysis of St. Lucia from economic, social and environmental perspectives  Identification of a relational structure that will form the basis for econometric specification for forecasting and monitoring

 Following the training and consultation there will be more in-depth interviews  Detailed social and economic analysis and prospects  These will be used to get the first completed draft of the report  There will be a chance of review and feedback by stakeholders  Clarification, modification and finalization of the report

 Link the PSIP and the annual budget to the MTDSP  Engage in ongoing monitoring and evaluation of the impact of the strategies (this requires collaboration among all agencies)

 The process is expected to last five months, through to December 2010, when the final report will be presented to Cabinet.

This exercise is of great significance to Saint Lucia. I trust that Saint Lucians – we - will embrace the opportunity to have a say in crafting a Plan that will ultimately determine the wellbeing of all and that of Saint Lucia. Thank you!.