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Wednesday, July 16, 2025

T&T leads Caribbean countries on World Bank HCI

by

Kyron Regis
1759 days ago
20200920

ky­ron.reg­is@guardian.co.tt

T&T has been placed ahead of all the oth­er coun­tries of the Caribbean in the World Bank’s Hu­man Cap­i­tal In­dex (HCI).

The coun­try has been giv­en a score of 0.60 (low­er band 0.57, up­per band 0.62) on the HCI, which ranges be­tween 0 and 1.

The in­dex is mea­sured in terms of the pro­duc­tiv­i­ty of the next gen­er­a­tion of work­ers rel­a­tive to the bench­mark of com­plete ed­u­ca­tion and full health.

Ac­cord­ing to the World Bank in it’s re­port ti­tled “The Hu­man Cap­i­tal In­dex 2020: Hu­man Cap­i­tal in the time of COVID-19”, an econ­o­my “in which a child born to­day can ex­pect to achieve com­plete ed­u­ca­tion and full health will score a val­ue of 1 on the in­dex.”

The World Bank re­port con­tin­ued to note that the low­er and up­per bounds in­di­cate the range of un­cer­tain­ty around the val­ue of the HCI for each econ­o­my.

Had there been ranks on the HCI, T&T would have been placed 67th, ahead of St. Lu­cia (68th), An­tigua and Bar­bu­da (73rd), St. Kitts and Nevis (77th), Grena­da (87th), Do­mini­ca (95th) and Ja­maica (97th).

One of the rea­sons that the World Bank did not rank coun­tries is be­cause many coun­tries were giv­en the same HCI rank­ings - which can be im­pre­cise. It ex­plained that this is why an up­per band and low­er band is giv­en along­side the HCI val­ue to cater for the un­cer­tain­ty.

For ex­am­ple, both T&T and St. Lu­cia were giv­en 0.60 (al­though T&T was placed be­fore on the ta­ble). How­ev­er, while T&T low­er and up­per bands were 0.57 and 0.62, re­spec­tive­ly, St. Lu­cia’s low­er and up­per bands amount­ed to 0.59 and 0.62, re­spec­tive­ly.

This means that when ac­count­ing for un­cer­tain­ty, T&T’s HCI could go as low as 0.57 while St. Lu­cia could go as low as 0.59 and both of the coun­tries can be giv­en a HCI val­ue of 0.62.

How­ev­er, the World Bank not­ed that coun­tries should not be con­cerned with out­rank­ing an­oth­er coun­try.

The World Bank said: “Rank­ings place an in­or­di­nate­ly large fo­cus on the fact that a coun­try with an HCI of 0.51 is ahead of a coun­try with an HCI of 0.50.”

It ad­ed: “But this in­ter­pre­ta­tion miss­es the more crit­i­cal is­sue, which is that in both coun­tries, chil­dren born to­day will grow up with half their hu­man cap­i­tal po­ten­tial un­ful­filled. This is vast­ly more im­por­tant than whether one coun­try is “ahead of” an­oth­er.”

There­fore, it can be said that with T&T re­ceiv­ing a 0.60 HCI val­ue, that if a child is is born to­day in the coun­try, he/she will not be able to max­imise 0.40 (or 40 per cent) of their hu­man cap­i­tal po­ten­tial.

Over the past decade, the World Bank in­di­cat­ed that many coun­tries have made im­por­tant progress in im­prov­ing hu­man cap­i­tal. To­day, how­ev­er, it re­port­ed that the COVID-19 pan­dem­ic threat­ens to re­verse many of those gains.

Ac­cord­ing to the World Bank, ur­gent ac­tion is need­ed to pro­tect hard-won ad­vances in hu­man cap­i­tal, par­tic­u­lar­ly among the poor vul­ner­a­ble.

De­sign­ing the need­ed in­ter­ven­tions, tar­get­ing them to achieve the high­est ef­fec­tive­ness, and nav­i­gat­ing dif­fi­cult trade-offs in times of re­duced fis­cal space, makes in­vest­ing in bet­ter mea­sure­ment of hu­man cap­i­tal more im­por­tant than ever.

In­formed by rig­or­ous mea­sure­ment, the World Bank in­di­cat­ed that “bold poli­cies can dri­ve a re­silient re­cov­ery from the pan­dem­ic and open a fu­ture in which ris­ing gen­er­a­tions will be able to de­vel­op their full po­ten­tial and use it to tack­le the vast chal­lenges that still lie ahead for coun­tries and the world: from end­ing pover­ty to pre­vent­ing armed con­flict to con­trol­ling cli­mate change.”

The World Bank added that COVID-19 has un­der­scored the shared vul­ner­a­bil­i­ty and com­mon re­spon­si­bil­i­ty that to­day link all na­tions. It not­ed that ful­ly re­al­is­ing the cre­ative promise em­bod­ied in each child has nev­er been more im­por­tant.


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