The Economic Recovery Committee (ERC) is established in the wake of the unexpected and severe exogenous shock of the COVID-19 virus to the Antigua and Barbuda economy that has eroded its significant growth and development, including its achievements in increased employment, reduction of poverty, decline in crime and expansion of national wealth.
The establishment of, and participation in, the ERC is recognition by all sectors of the Antigua and Barbuda society that the nation faces a major challenge, which it did not create but must, nonetheless, solve through collaborative and cooperative efforts by all, regardless of any affiliation of any kind.
This terms of reference set out the membership of the ERC and its sub- committees; the membership of the ERC and its sub-committees; the remit of the ERC and its sub-committees; and the reporting arrangements of the sub- committees and the ERC.
The ERC and its sub-committees will consider the situation of Antigua and Barbuda with respect to the totality of its economy, and every sector therein, in the wake of the adverse effects of the COVID-19 virus, in order to formulate and recommend policies and plans to:
- Grow and stimulate the economy
- Diversify the economy, including through new enterprises and new markets
- Increase productivity
- Maintain existing jobs and create new ones
- Promote food security
- Efficient use of energy, including cost savings
- Efficient production of water and uses in households, health and education institutions, tourism, and agriculture
- Accelerate e-commerce and cashless payment systems
- Increase revenues and ensure financial sustainability
- Improve telecommunication and unlimited data access to support remote work from home for commerce, online industries, education, health, and e-payments.
- Recovering and strengthening the tourism industry, including targeting higher income travellers, opportunities in providing services for the yachting sector and non-taxation incentives.
- Make recommendations for product diversification within the hospitality and entertainment sub-sectors;
- Create a medium for broad-based social dialogue and stakeholder engagement;
The ERC Steering Committee shall:
- Mandate sub-committees to review various sectors of the Economy and make recommendations the Steering Committee;
- Receive and review the report and recommendations of each subcommittee and formulate suggestions for policies, plans and projects to be implemented with regard to those that the ERC considers appropriate and to re-submit to the sub-committees for further review and recommendation any proposals that it considers necessary;
- Submit its final recommendations to the Cabinet for formal approval and implementation
- Keep the public informed of its work, through post-meetings media briefings or by statements of the Chair.