Washington, DC – Jamaica’s Finance and Planning Minister, Dr Hon. Peter Phillips has called on the G20 nations to channel more resources to the Caribbean region to help it recover from the financial recession of 2008.
Dr. Peter Phillips
Addressing a Caribbean Breakfast and Caucus meeting at the headquarters of the World Bank in Washington DC on Thursday, October 9, Minster Phillips said, “There’s an urgent need for a mechanism to be developed to channel significant additional resources to stimulate growth in the Caribbean if the region is to have any chance of escaping the vortex of the 2008 recession completely.”
Minister Phillips explained that there were three areas in the region most in need of this support. This includes debt relief, energy security and climatic vulnerabilities. He added that without this support from the G20 nations, the efforts being made towards recovery will be lost. He pointed out that the world economic outlook is stagnant and as a region we should not allow our small size to work against us to mobilize a collective voice.
On Sunday, October 12, Caribbean Finance Ministers attending the IMF and World Bank board meeting. There, he will meet with the President of the World Bank Group, Jim Young Kim. The Finance and Planning Minister will make a presentation entitled “Inclusive Sustainable Growth”.
The meeting will be attended by the Secretary General of CARICOM, Ambassador Irwin LaRoque.
Finance and Planning Minister, Dr the Honourable Peter Phillips engages St. Lucia’s Prime and Minister of Finance, the Hon Dr Kenny Anthony in a deep discussion after his presentation at the Caribbean Breakfast and Caucus meeting at World Bank headquarters in Washington DC on Thursday, October 9, 2014.
