JavaScript is disabled in your web browser or browser is too old to support JavaScript. Today almost all web pages contain JavaScript, a scripting programming language that runs on visitor's web browser. It makes web pages functional for specific purposes and if disabled for some reason, the content or the functionality of the web page can be limited or unavailable.

Tuesday, July 22, 2025

Caricom to appoint debt relief team

by

20140711

Cari­com Sec­re­tari­at, Guyana–A Caribbean Com­mu­ni­ty (Cari­com) Debt Ad­vo­ca­cy Team is to be ap­point­ed to cam­paign for debt re­lief and/or debt ame­lio­ra­tion on be­half of high­ly-in­debt­ed mem­ber states.This was one of the key out­comes of the re­cent­ly-con­clud­ed 35th Con­fer­ence of the Cari­com Heads of Gov­ern­ment An­tigua and Bar­bu­da.Cari­com chair­man Gas­ton Browne, Prime Min­is­ter of An­tigua and Bar­bu­da, said the team would ad­vo­cate with de­vel­op­ment part­ners on be­half of mem­ber states.The ini­tia­tive emerged out of the recog­ni­tion that the cur­rent bur­den­some debt is not re­al­is­tic for some mem­ber states, giv­en their struc­tur­al and oth­er eco­nom­ic vul­ner­a­bil­i­ties, Prime Min­is­ter Browne said.

Debt ad­vo­ca­cy was one of the ar­eas the Com­mis­sion on the Econ­o­my ze­roed in on as part of the mea­sures to be tak­en to re­spond to the eco­nom­ic chal­lenges fac­ing the re­gion.A re­gion­al debt man­age­ment mech­a­nism is to be de­signed and a re­gion­al fis­cal sus­tain­abil­i­ty frame­work for­mu­lat­ed with­in six months, the new­ly-elect­ed Prime Min­is­ter of An­tigua and Bar­bu­da said.

An­oth­er strat­e­gy pro­posed by the Com­mis­sion on the Econ­o­my which the Heads of Gov­ern­ment have sanc­tioned is re­source mo­bil­i­sa­tion, par­tic­u­lar­ly from non-tra­di­tion­al sources of fi­nanc­ing.They have al­so agreed to pur­sue the pro­mo­tion of pub­lic pri­vate part­ner­ships for de­vel­op­ment of eco­nom­ic in­fra­struc­ture with tech­ni­cal ad­vice from the In­ter-Amer­i­can De­vel­op­ment Bank (IDB), the Caribbean De­vel­op­ment Bank (CDB) and the World Bank.


Related articles

Sponsored

Weather

PORT OF SPAIN WEATHER

Sponsored