Page 8 - TTC

A14

LOCALSaturday 12 December 2015

Fishes & More hosts
the Griffiths and the

McBary’s

PALM BEACH - Fishes & giano and they loved ev-
More, one of the great ery single bite.
restaurants in the Arawak Fishes & More was happy
Garden, hosted two cou- when the two couples
ples this past week: Peter vowed to be back soon:
and Linda Griffith and Ja- that’s the way they like it!
net and Jim McBary. The Arawak Garden is a
The restaurant had been plaza on the hi-rise strip
recommended by the par- across from the Occidental
ents of one of the couples Resort.
and it proved to be a gold- Nightly live music, several
en choice, as the reviews restaurants, a piano bar
were glowing. Peter, Linda, and small kiosks for souve-
Janet and Jim had the fish, nir shopping make an eve-
the pasta, the tuna tartar ning at the Garden a spe-
and the chicken Parme- cial event. q

ECLAC Proposes Debt Relief to Fight Against Climate Change

ORANJESTAD - The Eco- This proposal was present- 2013, ten countries of the countries of the Caribbe- English-speaking Caribbe-
nomic Commission for Latin ed today by the Director of Caribbean (Antigua and an (the ten already men- an countries.
America and the Caribbe- the regional organization’s Barbuda, the Bahamas, tioned plus Anguilla, Guy- The United Nations regional
an (ECLAC) proposed this Economic Development Barbados, Belize, Domi- ana, Montserrat, Suriname organization proposes the
week in the framework of Division, Daniel Titelman, nica, Grenada, Jamaica, and Trinidad and Tobago) creation of a resilience
the climate conference in during an event organized Saint Kitts and Nevis, Saint reached nearly 50 billion fund that can be financed
Paris a strategy to reduce by ECLAC in conjunction Lucia, and Saint Vincent dollars, equivalent to 72% through instruments such
the external public debt of with the Commonwealth and the Grenadines) had of subregional GDP. Of as Debt Swaps for Climate
English-speaking Caribbe- Secretariat, in the context total public debt percent- this amount, about 30 bil- Change Adaptation and
an countries that are con- of the 21st Conference of ages of between 76% and lion corresponds to internal Mitigation, which require
sidered to be Small Island the Parties (COP21) to the 130% of their Gross Domes- debt and nearly 18 billion interaction between mul-
Developing States (SIDS) United Nations Framework tic Product (GDP), above to external debt, 46% of tilateral institutions, do-
through the creation of a Convention on Climate the limits of what is con- which is owed to private nor countries and debtor
regional resilience fund to Change, which is taking sidered to be sustainable creditors and 54% to public countries. The sources of fi-
finance climate change place from November 30 debt. creditors. nancing for this mechanism
adaptation and mitigation to December 11 in France. Total public debt, both in- ECLAC underscores that can come from the global
measures. Titelman explained that in ternal and external, in 15 these high debt burdens funds for climate change.
reflect the economic and In exchange, the benefi-
environmental vulnerabili- ciary countries would have
ties of these countries and to commit to allotting the
have become a hindrance resources that they save
to development of the SIDS on debt servicing to this
(which also include coun- Caribbean resilience fund,
tries that are not islands but which would be dedicat-
that face similar challeng- ed to financing climate
es). As an example of this, it change mitigation and
is estimated that between adaptation actions and
2000 and 2014 natural di- would be managed by a
sasters caused damage of solid and credible financial
at least 27 billion dollars in institution.q