Projections are that, on its present course, by 2020, debt will remain unsustainable in 11 Caribbean small states, and there will be no change in 2030 when the UN’s Agenda for Sustainable Development will have run its course. In the current policy debate, there is the push to privatisation and especially through PPPs. There are alternatives. Some alternatives include external creditors, agreeing to write-off or reduce their loans; re-opening concessional financing from international financial institutions; and swapping debt for climate change adaptation and mitigation.
See the workshop outcome statement: Castries Statement on Debt Sustainability and Financing for Development
The workshop takes place prior to the Caribbean Sub-regional advisory committee (SUBRAC) meeting. The discussions and debates are within the framework of the 2018 -2022 Programme of Action (PoA) and PSI’s on-going work on Financing for Development.
Affiliates will examine some case studies, and provide information on the experiences in some countries and learn more about the on-going work of our potential coalition partners. The objective is to develop joint action plans.