The SIDS4 Conference, which will be hosted next year in Antigua and Barbuda, is beginning to take shape and its outcome will likely have far-reaching results for the future of the many island nations who will be represented at the ground-breaking event.
The stage is being set well ahead of the meeting scheduled for May 27 – 30 next year for lasting policies and enduring positions that will precipitate the shift in fortunes that Small Island Developing States have been seeking for decades.
In this connection, as host country, the Antigua and Barbuda Permanent Mission to the United Nations has maintained a constant presence at various meetings where it can field questions and share information about next year’s meeting.
At one such recent meeting convened by the Alliance of Small Island States (AOSIS) Antigua and Barbuda’s Permanent Representative to the United Nations, Ambassador Walton Webson joined fruitful discussions on important matters on the SIDS agenda and enlightened participants about preparations for SIDS4.
The meeting discussed pertinent issues related to the data and financing gap being faced by SIDS and the work being undertaken by The PVBLIC Foundation and the Family Offices for Sustainable Development across the UN system on data and technology.
In attendance were the Current Chair of AOSIS Ambassador Fatumanava Pa’olelei Luteru, Executive Director of the United Nations Office of Project Services (UNOPS), Under Secretary General Jorge Moreira da Silva, Senior Advisor to SIDS Simona Marinescu and joining remotely was the Board Chairman of The PVBLIC Foundation Sergio Fernandez de Cordova.
The dialogue on data and technology was of intrinsic value to Ambassador Webson. Antigua and Barbuda will be using next year’s conference to launch a Centre of Excellence where a Data Hub will be housed.
It will help island nations overcome their challenges in readily sourcing and providing the information international institutions require in granting developmental and concessional financing.
The concept has won the approval of AOSIS Ambassadors and will be hosted in Antigua and Barbuda.
The Government of Antigua and Barbuda and partners will support its development and operation.
The centre will build capacity, monitor, and track the SIDS next ten-year plan, and be the hub for innovation and technology in the SIDS regions.
The theme of next year’s conference is ‘SIDS4 – Charting the Course towards Resilient Prosperity’ a rallying call to action for island nations to once and for all address their unique challenges, in particular those related to climate change and burdensome debt.
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This SIDS/ Small Island Developing States, and the UN are parties are playing each other. The SIDS present the issue of climate change and global warming and rising seas as an existential threat. The UN recognizes the group and allows them to continue to fight their cause.
The key party are the major industrial nations. The bottom line these developed countries are been asked to cancel debt, unfortunately the developed countries are of the view many of the borrowers squandered the funds and never developed their infrastructure.
Many of the funds evaporated through all types of corruption and kickbacks schemes.
For the Developed Countries, debt relief masked as climate change Ain’t going to happen … Period !
https://en.wikipedia.org/wiki/Greek_government-debt_crisis#:~:text=On%202%20May%2C%20the%20European,austerity%20measures%2C%20structural%20reforms%20and
2010 revelations and IMF bailout
Despite the crisis, the Greek government’s bond auction in January 2010 of €8bn 5-year bonds was 4x over-subscribed.[86] The next auction (March) sold €5bn in 10-year bonds reached 3x.[87] However, yields (interest rates) increased, which worsened the deficit. In April 2010, it was estimated that up to 70% of Greek government bonds were held by foreign investors, primarily banks.[88]
In April, after publication of GDP data which showed an intermittent period of recession starting in 2007,[89] credit rating agencies then downgraded Greek bonds to junk status in late April 2010. This froze private capital markets, and put Greece in danger of sovereign default without a bailout.[90]
On 2 May, the European Commission, European Central Bank (ECB) and International Monetary Fund (IMF) (the Troika) launched a €110 billion bailout loan to rescue Greece from sovereign default and cover its financial needs through June 2013, conditional on implementation of austerity measures, structural reforms and privatization of government assets.[91] The bailout loans were mainly used to pay for the maturing bonds, but also to finance the continued yearly budget deficits.[citation needed]
https://www.thebalancemoney.com/what-is-the-greece-debt-crisis-3305525#:~:text=In%202011%2C%20the%20European%20Financial,for%20debt%20worth%2075%25%20less.
In 2011, the European Financial Stability Facility added 190 billion euros to the bailout. Despite the name change, that money also came from EU countries.
By 2012, Bondholders finally agreed to a haircut, exchanging 77 billion euros in bonds for debt worth 75% less.
https://www.bbc.com/news/business-44573548
Eurozone countries have agreed a long-awaited debt relief deal for Greece, which has been hailed as “historic”.
The deal gives Athens more time to repay €96.9bn (£85bn) worth of loans and extends a grace period during which Greece will pay little or no interest.
As an Executive at a major Financial Institution it is expected that you are sufficiently knowledgeable and informed then to conflate the Greek financial crisis in 2009 with the case the SIDS are attempting to make.
Following years of corruption, worker abuse, sovereign loans, and other despicable failures, this deadbeat government has only itself to blame for being in this embarrassing position.
The Greek loan was debt relief with a difference and
different underlying factors
-Budget deficits in violation of Euro Zone rules
-2008 financial crisis
-collapse of their bonds, and more
The Greeks did not get together other countries in meeting as the SIDS doing to craft a theory that their debt is caused by others.
This is simply grandstanding for fools, idiots and the uninformed
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