This report explores the status of the knowledge economy in the Caribbean. Initiatives that have shaped the development of Information and Communications Technology for Development (ICT4D) and the knowledge economy are reviewed. The regional situation is then analysed with regard to measurement of the knowledge economy and the development of Information and Communications Technology (ICT) policy and strategy in the region. These policies and strategies are analysed in the context of the World Summit of the Information Society (WSIS) lines of action. The World Bank Knowledge Assessment Methodology (KAM) is reviewed and evaluated as a tool to assist in monitoring the development of the knowledge economy in the Caribbean. Based on these reviews and analyses, a set of recommendations is produced to guide the development of ICT and knowledge economy in the region.