GEORGETOWN, Guyana, CMC—Caribbean Community (CARICOM) foreign ministers have reiterated the call for reform of the international financial architecture and are seeking assistance from Argentina in that regard.
A statement issued by the Guyana-based CARICOM Secretariat said that the issues were discussed with Argentina’s Foreign Affairs, International Trade and Worship Minister, Diana Mondino, on the margins of the General Assembly of the Organization of American States (OAS) in Argentina late last week.
The statement said that during the meeting late last week, the regional foreign ministers called on Argentina to continue advocating for reform that benefits the 15-member regional integration grouping.
In 2019, the World Bank and many other international financial institutions reclassified many CARICOM countries, moving them from lower middle-income to upper middle-income countries and making them ineligible for accessing grant funding and soft loans.
Given its vulnerabilities, including storms, earthquakes, and tsunamis, the region continues to challenge the reclassification.
The Secretariat said the foreign ministers also called on Argentine to take the advocacy to “multilateral fora such as the G-20”.
The release said the meeting also addressed “global, hemispheric, and bilateral issues of mutual interest, including climate change, climate financing, support for Small Island Developing States (SIDS), the ongoing, multifaceted situation in Haiti, trade, and sports,” and that an agreement was reached to “convene the long overdue CARICOM-Argentina Joint Commission.”
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