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Caricom, effective forum to address challenges of the region


Caricom, effective forum to address challenges of the region

Nassau, Feb 16 (Prensa Latina) The Caribbean Community (Caricom) today constitutes an effective forum to seriously address the structural challenges we face, said Prime Minister of Saint Kitts and Nevis, Terrance Drew.

When speaking at the 44th conference of heads of government of the regional block based in the Bahamas, the authority stressed this mechanism continues to be a way as small island developing States for the sake of dialogue with international entities.

Among the current problems, he pointed out the vulnerability to external economic shocks, the strong dependence on a few products or services, as well as frequent and more intense natural disasters.

He also mentioned the high costs associated with debt and adaptation and mitigation of climate change, among others. These, superimposed, have transversal effects, he commented to those present at the meeting.

They impact all sectors of the economy, forcing us to catch up as we move forward with our respective development agendas, Drew emphasized.

He called on global financial institutions to further consider the use of the Multidimensional Vulnerability Index (MVI) which takes into account the unique characteristics and climatic vulnerabilities of small island states.

Caricom firmly believes this relationship is a more holistic metric to address the complex problems of the Caribbean, stated the Prime Minister of Saint Kitts and Nevis.

The IVM matrix is more in line with the ever-present dangers we face every year, having to endure the ravages of natural catastrophes, such as hurricanes, droughts, volcanic eruptions and rising sea levels, he described.

The evaluation of our high gross domestic product does not take due account of our vulnerability to economic and climatic crises, reflected the head of government.

“The global development agenda demands the search for a holistic approach to address weaknesses, and the provision of solutions that are consultative, effective and sustainable,” he asserted.

Participants in the event, which began the day before and is scheduled to run until tomorrow, Friday, discuss food and energy security, financing for climate and health, and the situation in Haiti, among other topics.


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