ST. JOHN’S, Antigua, CMC—St. Kitts-Nevis Prime Minister Dr. Terrance Drew says small island developing states (SIDS) need to build resilience to protect themselves from external shocks that threaten to push them to the precipice of collapse.
Addressing the Fourth International Conference on SIDS (SIDS4) here, Drew told the international audience that make no mistake, the path to prosperity is a virtual obstacle course for SIDS, magnified by a world in turmoil, facing apocalyptic environmental conditions, war, scarcity, supply chain disruptions, course of inherent risks, external shocks, capital constraints, high inflation, and unemployment.
“It reads like the script for a dystopian movie. Yet, the world’s most vulnerable micro-sates must navigate this landscape to give their citizens a better quality of life and a tangible sense of hope in a world of growing uncertainty. That we have made it this far is a tribute to the resilience of island people everywhere,” he told the conference that enters its second day on Tuesday.
Prime Minister Drew said what is now required is that “we build resilience that will protect us from the external shocks which threaten to push SIDS to the precipice of collapse.”
He suggested “some critical elements” that hang on the development and prosperity of SIDS, including available, accessible, and adequate capital.
Prim Minister Drew said that the cost of capital is too high for SIDS, resulting in “our fiscal space far too circumscribed”.
He said that this is why the Bridgetown Initiative’s call for reforming the international financial architecture is imperative this year, coinciding with the 18th anniversary of the Bretton Woods Institutions that gave rise to institutions such as the International Monetary Fund (IMF).
Prime Minister Drew said technology is creating a new global elite of those who use it for innovation, the democratization of government and commercial systems, and to spur social equity and economic growth.
“I link technology to education and the need for young citizens of SIDS to master the technology that now defines and drives social and economic activity,” he said, adding that resilient infrastructure, particularly about physical development, water, energy, and climate-smartligent hospitals, is also of utmost importance.
“Infrastructure is a crosscutting issue. Many SIDS are water-scarce, yet they are tourism destinations. We are food importers and must boost our agricultural sectors for food and nutrition security.
“The Caribbean is projected to face a 10-20 percent decline in crop yields by 2050 due to climate change. We cannot have resilient health systems without resilient food systems. This is why CARICOM’s 25×25 initiative is important,” he said about the Caribbean Community’s goal of reducing its multi-billion food import bill by 25 percent by next year.
Prime Minister Drew said that the climate crisis had wrapped its tentacles around CARICOM member states and “unless we find the mix of policy, finance and adaptation measures to address the impacts of the climate crisis, our dreams of development and prosperity will come to naught.”
He said health and well-being are another lynchpin in the fight for prosperity.
“As CARICOM’s lead Prime Minister on health issues, and as a physician, I cannot help but draw attention to the link between the climate crisis and a growing incidence of vector-borne diseases such as dengue and Lyme disease.
“It is also to be noted that extreme weather events delay or disrupt healthcare services, resulting in poor treatment outcomes or death, as happened in Puerto Rico after Hurricane Maria in 2017. “
Drew said the growing number and intensity of extreme weather events in all SIDS threaten development trajectories.
“When this is added to the high burden of chronic non-communicable diseases and their sequelae, as the single most significant cost and cause of morbidity and mortality in the Caribbean, the script is written for disaster.
“We already saw from COVID-19 how a health crisis can decimate our islands. Further, at a time of rising mental health challenges in the region, it is noteworthy that for the first time in the history of its reporting, the IPCC (Intergovernmental Panel on Climate Change) has included mental health impacts among the negative impacts caused by climate change.”
He said that against this background, SIDS-SDIS, South-South, and triangular cooperation on the major development challenges “require our solidarity and action to safeguard the health and future of small island developing states and their people.
“We, the children of the world’s nation-states, have come together in pursuit of prosperity for SIDS; we must not let it escape us,” Prime Minister Drew told the conference, which is being attended by more than 20 world leaders, representatives from the private sector, civil society, academia, and youth.
The three-day conference, which is being held under the theme “Charting the course toward resilient prosperity,” will showcase new innovations and develop practical solutions to address critical SIDS-specific challenges driven by the climate emergency, spiraling debt, and health crises.
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