{"id":22306,"date":"2018-12-04T22:06:23","date_gmt":"2018-12-05T02:06:23","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=22306"},"modified":"2018-12-05T03:46:02","modified_gmt":"2018-12-05T07:46:02","slug":"pm-bats-for-debt-relief-says-stop-spending-on-useless-wars","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-bats-for-debt-relief-says-stop-spending-on-useless-wars\/","title":{"rendered":"PM calls for debt relief, tells leaders stop spending on useless wars"},"content":{"rendered":"
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Prime MinisterGaston Browne is calling for the international community to provide debt relief for middle-income countries like Antigua and Barbuda whose status no longer qualifies them for certain types of assistance.<\/p>

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The prime minister made the impassioned plea while addressing a high-level forum on middle income countries at the United Nations in New York on Tuesday.<\/p>\n\n\n\n

He recommended a global partnership on debt relief, telling the UN that \u201cthere must be a willingness to write-off or reduce debt, particularly by the Paris Club, especially as, in many cases, it is decades of compounded interest that enlarges the debt.\u201d<\/p>

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The country\u2019s\nleader said, \u201cservicing that debt, amid frequent disasters, persistent\ndiseconomies and external shocks, restrict spending on education, training, new\ntechnologies and improving competitiveness, resulting ultimately in\nunderdevelopment.\u201d<\/p>

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Added to that, he called for debt for climate swaps to reduce debt burden in\naccelerating transition to green energy, to reduce carbon foot print, improve energy\nsecurity, climate and economic resilience. \n<\/p>\n\n\n\n

Browne told\ndelegates that with a unified vision of global development, the international\ncommunity can help to address the developmental gaps in middle income countries\nin many ways.<\/p>

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He called for the\ncurrent criterion of using per capita income for measuring development to be\noverturned, arguing that it is \u201cdeeply flawed.\u201d<\/p>\n\n\n\n

Such a move Browne\nargued will provide middle income countries with much needed access to\ndevelopmental financing.  <\/p>

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He made\nthe case for a genuine methodology to be urgently formulated for determining\nvulnerabilities and it must include size, susceptibility to climate change,\npoor terms of trade, remoteness, high cost of transactions, the narrow base of\nproductive activities, and high debt.<\/p>

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\u201cConcessional\nfinancing must be provided to curb the reversals already now in train and to\nfacilitate our efforts to continue the development of our nations,\u201d Browne\nsaid. <\/p>\n\n\n\n

The prime minister encouraged the wealthy countries to spend\nless on artillery in support of senseless wars and useless conflicts; the\nsavings of which should be utilized to advance human development at home and\nabroad.  <\/p>\n\n\n\n

His plea to the international community also included a call to recognize\n climate change as the demon that it\nis.  <\/p>\n\n\n\n

\u201cThe world\u2019s worst polluters must admit, that it is they who\nhave unleashed this demon, and it is they who must commit to containing and\nstopping it; not just in words but in deeds, especially by delivering the necessary\nadaptation and mitigation financing.,\u201d Browne said. <\/p>\n\n\n\n

\u201cUnless\nsuch a commitment becomes a binding commandment and Climate Change is halted,\nno amount of resilience building will help. \n<\/p>\n\n\n\n

Small\nisland states, such as mine, will be among the first victims; but we will not\nbe the last.<\/p>\n\n\n\n

It\nis therefore, in the best interest of humanity that we work collectively, in\nbuilding a transformational model of cooperation for sustainable global development.  <\/p>\n\n\n\n

Within\nthe only world body \u2013 this United Nations \u2013 the consciousness of the world and\nits collective conscience must act, and act now,\u201d he added. <\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Prime MinisterGaston Browne is calling for the international community to provide debt relief for middle-income countries like Antigua and Barbuda whose status no longer qualifies them for certain types of assistance. The prime minister made the impassioned plea while addressing a high-level forum on middle income countries at the United Nations in New York on […]<\/p>\n","protected":false},"author":3,"featured_media":22307,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,5],"tags":[],"class_list":["post-22306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"\nPM calls for debt relief, tells leaders stop spending on useless wars - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/pm-bats-for-debt-relief-says-stop-spending-on-useless-wars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM calls for debt relief, tells leaders stop spending on useless wars\" \/>\n<meta property=\"og:description\" content=\"Prime MinisterGaston Browne is calling for the international community to provide debt relief for middle-income countries like Antigua and Barbuda whose status no longer qualifies them for certain types of assistance. 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