President Bharrat Jagdeo, in making the announcement yesterday when he met briefly with reporters at State House, said the possibility was discussed during a meeting he had earlier in the day with CARICOM Secretary General Edwin Carrington, who will be exploring the possibilities of having the meeting hosted as soon as possible.

According to the President, it is expected that the war involving the United States and Iraq, will have some impact on the economies of Caribbean states, which, with the exception of Trinidad and Tobago, are already experiencing difficulties.

The CARICOM Bureau currently comprises Guyana, Jamaica and Dominica and the proposed meeting is expected to be expanded to involve other CARICOM countries, he said.

In a statement Wednesday, the Office of the President had said that Guyana will consult with other member states of CARICOM to minimise the impact of a likely war in Iraq, in an effort to "preserve the stability and the welfare of our country and region."

The statement had said too, that at a CARICOM Heads of Government meeting in Port of Spain, Trinidad and Tobago, on February 15, last, the Heads had expressed their "deep concern at the possibility of war in Iraq and the serious consequences that this could have for global peace and development."

"They were especially concerned that conflict could not only provoke a humanitarian crisis within Iraq itself, but also have negative effects on the regional and world economy".

They had also called on Iraq to fully comply with all relevant United Nations Security Council resolutions and to allow UNOVIC and IAEA inspectors full access to sites in order to confirm compliance with requirements for disarmament, it recalled.

"Guyana is deeply disappointed that a peaceful solution does not seem likely at this point in time.

"Even at this late stage, it remains our hope that conflict could be avoided", the statement had said.

"Should hostilities erupt, however, great care should be taken to ensure that the Iraqi people are spared a humanitarian disaster.

"The international community must give a commitment to the reconstruction of a post-war Iraq and ensure the establishment of a democratic government based on consultations with the Iraqi people", the statement said.

Yesterday, President Jagdeo referred to an article in a Jamaica newspaper in which it was reported that that country is experiencing a huge depreciation of its currency.