Statement delivered by Mr. Christopher Sinckler, Alternate Executive Director, Barbados and incoming CVF-V20 presidency
V20 MINISTERIAL DIALOGUE XII
16 April 2024
Mr. Christopher Sinckler, Alternate Executive Director, Barbados and incoming CVF-V20 presidency
Thank you very much, Mr. Chairman.
First of all, let me begin by expressing our apologies for the absence of Her Excellency, Prime Minister Mia Mottley, who is with Minister Ryan Straughan, attending a very important meeting with the Managing Director of the International Monetary Fund at this moment, and shall join us hopefully, shortly. I have asked to — been asked to deputize for them in this particular regard, and I accept your warm introduction.
The process of Barbados assuming the Chair of this very important Climate Vulnerable Forum comes at an extremely interesting time. And I say interesting, because to say otherwise would be to express some measure of consternation as to the challenges facing countries in the V20, small island economies, small countries, and small and vulnerable states. Why? Because the global picture continues to be one of significant challenges. Challenge relative to the climate crisis, which we face, challenge relative to the debt crisis and the debt distress which many of our states confront at this particular moment, challenge resulting from this consequentially because of the limited fiscal space that we have to operate. And deeply challenged because, as we speak, several of our states continue to face significant challenges in achieving the United Nations Sustainable Development Goals in the 2030 agenda.
It is a sobering feeling. Why? Because our view is that even though in many respects we are getting process vaguely right and correct, process is not necessarily progress. And we believe, on assuming the responsibility for this Chair that it rests heavily on the shoulders of all of the leadership, not just of the V20, but of all the other institutions involved in the process, the IMF, the World Bank, the United Nations, all of the critical institutions, G7, G20, to recognize that we have come at a core juncture where states, who are extremely vulnerable to many aspects within the context of the global financial and development architecture cannot now continue at the rate at which we are going. Otherwise, we run the risk of falling behind.
We know that significant outflows from our countries continue to go into institutions that are designed to help us develop and get out of the development trap that we find ourselves in, to get out of the resilience trap that we find ourselves in relative to the climate crisis. We know that even though we have not ourselves been the major contributors historically to the start of greenhouse gases that exist and that challenge our climate and our environment, we are the ones that bear the brunt of the fallout, relative to the impact of natural disasters.
We know that a significant amount of resources are being sidetracked or diverted from education, from healthcare, from infrastructure, from social welfare, into paying debts resulting from the impact of the climate crisis.
And therefore, we ask ourselves, what can we do to move beyond the process to progress the actions that we require to resolve the development dilemma that we have. And so, Barbados assumes this Chair with a degree of optimism, but yet concerned that our voices are being heard, but deep enough and sustainable actions are not occurring as punctiliously as we require to see a fundamental shift in the flow of negative tides that buffer our economies and societies.
And so, we say to our colleagues here today, we are at a seminal point. And we hope that together with the work which is being done, even as we speak by organizations such as the World Bank, and the IMF, that together we can turn this tide by working for a stronger climate action for resources that have been pledged to be met and delivered, for an operational Loss and Damage Fund coming out of the COP, and for a debt deal that frees our countries from the shackles of fiscal constraints, and the diversion of resources from sustainable social and human development.
We hope that we can join hands to lead this fight, as we continue to impress on our development partners that more needs to be done. Bigger balance sheets, stronger balance sheets, further balance sheets, but also an internal commitment for change.
Finally, in order to achieve this, the voice of small countries, the voice of developing countries, the voice of citizens who are affected mightily by the challenges that we face, and that we have outlined and will hear here today, are adequately represented at the institutions that matter. And that includes getting this V20 group of ministers officially recognized by the institutions as an official observer to the IMF and the World Bank so that our voices can be heard, not filtered, but directly.
This is a commitment of Barbados. This is a commitment of Prime Minister Mottley. Indeed, as she pushes not only the Bridgetown Agenda, but also the framework of work for the CVF here at the V20. And we commit our resources — though slender, we commit our resources to ensure that that work is expeditiously and concretely executed.
I’m obliged to you, Mr. Chairman, and I hope for a successful bargain as we negotiate our way into better times for our people and our country. I thank you.
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