Venezuela Reiterates Commitment to Development of the Caribbean Despite US Sanctions
CASTRIES, St. Lucia – Venezuela Tuesday reiterated its commitment in maintaining the “historical path” towards the development of the Caribbean region, despite what it termed “the imposition of illegal coercive measures unilaterally”
Ambassador Raul LicausiAddressing the 53rd board of governors meeting of the Barbados-based Caribbean Development Bank (CDB), Ambassador Raul Licausi, who is Alternate Governor for Venezuela, said Caracas welcomes the approach being adopted by the CDB that focuses on access to financing.
He said it is very relevant for the current economic situation, as it is a fundamental aspect of the development process in emerging economies.
“An obvious reality is that the global demand for financing is enormous, at all levels and in all aspects, while the amount of monetary resources has always been limited.
“The reorientation of access to financing is a central issue in the current financial order, since developing countries require greater support from international financial institutions, with access criteria that not only measure indicators of economic income but that do not depend on subordination,” he told the meeting, speaking on behalf of he Regional Non-Borrowing Members of the Barbados-based financial institution.
He said the reorientation is also necessary to the implementation of specific economic policies, and that can also address the vulnerability of these economies to external shocks, natural disasters, and variations in international markets, especially in the countries with the greatest difficulties”.
Licausi said that in response to the challenges facing the world today, “we believe in the importance of the reconfiguration of the global economy towards a diversified and multipolar one.
“Today’s world is witnessing a breakdown in the traditional economic order, and in this regard we highlight the role played by emerging economies, mainly through their association in cooperation blocs such as the BRICS, whose presence on the international scene is on the rise.
“The global monetary system is moving in a more inclusive direction, with diverse payment arrangements. Hence, a new international financial mechanism that gives trade real freedoms for expansion is pertinent”
He said that the Bridgetown Initiative being spearheaded by Barbados Prime Minister Mia Mottley and intended to reform the way rich countries finance poor countries in a climate crisis, could generate sufficient momentum and energy to enable the development of a new regional financial architecture.
The Venezuelan official said that the new architecture would be “ more inclusive for developing countries, more responsive to the current economic and financial challenges, with less preponderance of conditionality and oriented towards ensuring the welfare of the people”.
He said as the region moves beyond the COVID-19 pandemic seeking to resolve complex geopolitical scenarios, mitigate climate change and addressing the food and energy needs of developing countries,” it is our duty to emphasize, both in this and in all possible spaces, that the willingness to work together as a region is a responsibility and must be our guiding principle.
“Our presence in the historical path towards development in the Caribbean region is undeniable, however, the imposition of illegal coercive measures unilaterally on my country, as well as on Cuba and Nicaragua, which seek to impose themselves on the principles of international law, not only have negative effects on our peoples, but the development initiatives that we have implemented with our brothers in the region….”
He said these measures were also presenting a negative scope at the regional level. “However, in the face of the attacks by imperialist powers, we affirm our willingness to continue working together with this institution and hand in hand with its member countries for the economic development and welfare of the peoples. Let us move forward for a new international economic order of justice, balance, inclusion and compensation.”
United States sanctions on Venezuela have led to a drastic decline in oil production and severe underinvestment in the sector.
Washington had imposed the sanctions after alleging that the last presidential elections that led to the re-election of President Nicolas Maduro was rigged.
The United States has also prohibited all US commercial arms sales and retransfers to Venezuela since 2006
Licausi told the CDB governors meeting that the region “can count on the friendly hand of President Moros, representing the Government and the People of Venezuela, in the face of the challenges and adversities on the road to development, a long and complex path that undoubtedly requires collective actions and a renewed leadership in the international concert”.
