#UNGA: Guyana President Donald Ramotar calls for debt relief, access to concessionary financing for CARICOM Member States

By social.media Last updated Sep 26, 2014

Guyana President Donald Ramotar calls for debt relief, access to concessionary financing for CARICOM Member States as he addresses UN’s General Assembly debate Friday:

Ironically as we discuss the post 2015 development agenda, many CARICOM countries are being graduated from eligibility for concessional financing since they are classified as middle income, based on the narrow measure of GDP per capita.

In addition, many of these countries are heavily indebted as they must make unavoidable investment in building and rebuilding social, economic and productive infrastructure, to strengthen their resilience.

We call on the international community to reconsider this approach by adding a vulnerability index to the equation. We also call for debt relief as the debt accumulated by most of these countries, make their economies unsustainable.