WASHINGTON, CMC—The governor of the Trinidad and Tobago Central Bank (CBTT), Dr. Alvin Hilaire, has called on the international community “to stand ready” to assist Haiti, which is grappling with a political and socio-economic crisis exacerbated by criminal gang activities.
Addressing the Ministers and Governors Meeting of the Intergovernmental Group of Twenty-Four (G-24), Hilaire said that the post-coronavirus (COVID-19) pandemic environment has many challenges that pose a downside risk to growth.
“Despite the rise in geopolitical tensions, we take note of the positive development in establishing the third chair for Sub-Saharan Africa at the International Monetary Fund (IMF).
“In addition, we welcome the support of other countries in helping to stabilize Haiti’s internal security and for the assistance provided through the World Bank and the IMF to support the country’s growth and development,” Hilaire said, adding, “We call on other countries and institutions to stand ready to assist Haiti.”
Haiti has been without an elected head of state since President Jovenel Moise was assassinated at his private residence overlooking the capital on July 7, 2021.
Despite the presence of the United Nations-sanctioned Keny-led Multinational Security Support (MSS) Mission, Haiti has had to deal with criminal gangs that have all but taken over the capital, Port au Prince, and forced thousands of people to flee their homes.
In addition, the gangs are involved in multiple killings, targeting children and women.
In his address, Hilaire said that Trinidad and Tobago also welcomes the communique’s request for common but differentiated responsibilities regarding climate change.
“My country, Trinidad and Tobago, while an energy exporter, contributes less than one percent of annual global carbon emissions. Nevertheless, our domestic energy companies are taking measures to reduce their emissions and moving towards renewable energy.
“Given our minimal contribution to global emissions, penalizing our products through carbon taxes would have little material impact on climate change but can significantly impact the country’s growth and the welfare of its citizens.
“Thus, we call on advanced economies to consider the introduction of carbon border taxes to make accommodations for small states. We also encourage these countries to fulfill their pledges related to climate financing.”
According to the statement issued following the G-24 meeting, the delegates noted that the global community is falling short of attaining climate and development goals and providing commensurate financial support to developing countries towards achieving them.
“The frequency, intensity, and scale of extreme weather events, particularly in developing countries, are increasing, necessitating urgent action. Recognizing the varying national circumstances, we call for accelerating climate action based on equity and the principle of common but differentiated responsibilities and respective capabilities.
“Therefore, climate change strategies must incorporate the needs of EMDEs (Emerging Markets and Developing Economies), and mitigation and adaptation actions should aim at ensuring accessibility to all types of energy, and energy security, bearing in mind sustainable development and efforts to eradicate poverty. “
Furthermore, the statement noted that MDBs (Multilateral Development Banks) and IFIs (International Financial Institutions) should support investment in the research and development of green technologies that reduce greenhouse gas emissions.
“We acknowledge the need to significantly scale up finance, and hence call for a concrete goal commensurate with the pressing challenges, which is, therefore, more significant than the US$100 billion per year planned during the upcoming CoP29.
“We look forward to faster progress on operationalizing and capitalizing the Loss and Damage Fund. We reiterate our call for new and additional grant-based, highly concessional finance and non-debt instruments to support both middle- and low-income countries, especially as they transition just and equitably,” the statement noted.
Hilaire said that in this same vein, Port of Spain is urging members to support the reforms at the World Trade Organization (WTO), saying, “Having a robust and well-functioning dispute settlement body is key to ensuring a strong multilateral trading system, particularly as countries are implementing measures related to climate change and industrial policy that can affect international trade.”
Hilaire also joined those supporting the call for quota realignment at the IMF, saying, “We encourage the Fund, in its 17th General Review of Quotas discussions, to adjust quota shares to better reflect the current economic realities.
“However, such adjustment must ensure that small states, whose shares are already less than one percent, at a minimum maintain these shares,” he noted.
and then , Dr. Alvin Hilaire, has called on the international community){kind=link}