CDB proposes new initiative for SIDS to access concessional financing by STAFF WRITER
The Barbados-based Caribbean Development Bank (CDB) has proposed a resilience-adjusted Gross National Income (GNI) measure for Small Island Developing States (SIDS) to access concessional finance.
Termed the Recovery Duration Adjuster (RDA), the CDB said this measurement framework better reflects the economic, social, and environmental realities of SIDS, including those in the Caribbean region.
CDB is refining its framework and exploring strategic partnerships for full-scale development of the system.
CDB President, Dr. Gene Leon, speaking during a presentation on the RDA at the CARICOM Pavilion during the United Nations Climate Change Conference (COP26), said the framework is based on two key principles.
Firstly, it takes a holistic view of development needs and incorporates underlying structural weaknesses, high debt levels, and insufficient investment in resilient infrastructure as important inputs in determining the extent of a country’s vulnerability to exogenous shocks.
Secondly, it captures the duration of recovery from a shock, which provides stronger justification for accessing concessional finance to support rescue, recovery, and repositioning efforts that can build resilience and sustain overall economic development.
“A vulnerability metric for Small Island Development States should go beyond susceptibility. Although countries may face a similar likelihood of a hazard occurring, their ability to recover to pre-event welfare levels can vary vastly.
“The Recovery Duration Adjuster considers a 360-degree perspective that integrates the economic, social, and environmental dimensions of vulnerability,” said Leon.
He said the longer duration of recovery experienced by many SIDS, which CDB calls the “resilience drag”, has implications for the overall cost of recovery and achievement of development goals and targets.
For example, while the US State of Florida and the Caribbean island of Dominica may be equally threatened by the passage of a major hurricane, it will take Dominica a significantly longer period to recover because of its limited resources and lack of extensive resilient infrastructure.
Leon said conventional measures that utilise gross national income per capita, do not capture this resilience drag and can provide misleading signals about the health and stability of an economy.
“The Recovery Duration Adjuster is therefore the means through which we can create a resilience-adjusted per capita income measure that will be a more comprehensive and equitable tool for classifying SIDS and mobilising much-needed financial resources” the CDB head added.
Source-CMC
Eight people dead, hundreds injured at Travis Scott's Astroworld Festival
Eight people are dead and hundreds more were injured Friday night at Travis Scott’s Astroworld Festival at NRG Park in Houston, authorities confirmed to local ABC affiliate KTRK.
According to Houston Fire Chief Samuel Peña, the worst of the incident occurred around 9:15 p.m. when the crowd of around 50,000 began to surge towards the front of the stage and people began to panic.
The concert was halted shortly after and a second show scheduled for Saturday has been cancelled. Video from Apple Music’s livestream of the event was posted to social media, showing Scott stopping mid-performance and calling for security after he notices someone passed out in the audience.
Festival organizers released a statement Saturday morning, saying, “Our hearts are with the Astroworld Festival family tonight -- especially those we lost and their loved ones. We are focused on supporting local officials however we can.”
“With that in mind the festival will no longer be held on Saturday. As authorities mentioned in their press conference earlier, they are looking into the series of cardiac arrests that took place. If you have any relevant information on this, please reach out to Houston Police. Thank you to our partners at the Houston Police Department, Fire Department, and NRG Park for their response and support.”
Scott later posted a statement of his own, saying he is "absolutely devastated" by what happened and that he is "committed to working together with the Houston community to heal and support the families in need."
As of Saturday morning the victims had not been publicly identified. The Harris County Medical Examiner's Office will determine how the eight people died.
Source-ABC
West Indies Eliminated
Reigning champions West Indies have been eliminated from the Twenty20 World Cup following a 20-run defeat to Sri Lanka here Thursday.
Asked to chase 190 at the Zayed Cricket Stadium, the Caribbean side came up well short to suffer their third defeat in four matches, and remain rooted in fifth spot in Group 1 and out of contention for the semi-finals.
Left-hander Shimron Hetmyer top-scored with a career-best 81 not out off 54 deliveries and got support from vice-captain Nicholas Pooran with 46 off 34 balls but the run chase lacked enterprise from the start, as openers Chris Gayle (1) and Evin Lewis (8) fell cheaply.
In fact, such was the West Indies effort that only Hetmyer and Pooran reached double figures.
Sent in earlier, Sri Lanka stormed to an impressive 189 for three off their 20 overs, with Charith Asalanka top-scoring with 68 off 41 balls opener Pathum Nissanka gathering 51 off 41 deliveries.
West Indies’ final fixture against Australia on Saturday is now of academic interest only.
Source-CMC
TCI Delegation attends COP26
The Ministry of Tourism, Environment, Fisheries, Maritime Affairs, Culture & Heritage, Agriculture, Religious Affairs and Gaming, represented by the Hon. Minister Josephine Connolly and Director Lormeka Williams, from the Department of Environment & Coastal Resources (DECR), are currently attending the 2021 United Nations Climate Change Conference (also known as COP26) in Glasgow, Scotland, UK.
The summit has brought parties together, including the UK Overseas Territories (UKOTs) Association Delegation, to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change. While in Glasgow, the Hon. Minister has had access to the 'Blue Zone', the UN-managed space that hosts the negotiations and brings together delegations from 197 countries. The Zone was the venue for the World Leaders' Summit on November 1st & 2nd. On November 6th the Overseas Territory delegation (which includes the Turks & Caicos Islands) will host an event for Nature and Land Use Day. The event will explore how the UKOTs are taking action to counter and mitigate the effects of global warming and how they are safeguarding precious marine environments.
Honourable Minister Connolly engaged at the highest level, with her Caribbean counterparts, on topics which include reopening strategies and tourism-related impacts and the way forward as it pertains to COVID-19, as well as issues of sustainable financing for climate change resilience for island-states.
"For the future, we must shift to sustainable development and mainstreamed resilience practices, and arm ourselves with the data, expertise, and modelling required to understand how Climate Change will impact our society and environment. We need improved comprehension of increased impacts of flooding, intense heat, drought, and storms, and regional realities like Climate Change-induced migration. To mainstream Climate Change resilience, we need expertise, and capital and recurrent funding, while at the same time not sacrificing other vital conservation projects and programmes. ", said Hon. Minister Connolly.
At COP26 countries are being asked to come forward with ambitious 2030 emissions reductions targets (NDCs) that align with reaching net zero by the middle of the century. This is particularly pertinent to the Caribbean region as island-states, including the Turks & Caicos Islands, find themselves on the frontline of the impacts of climate change. Coral reefs, vital to our economy, are less resilient to disease and our reefs are more susceptible to bleaching impacting the overall biodiversity of our marine ecosystems. We are most vulnerable to the increase in sea levels and are starting to see the impacts on our communities as land stability is threatened on a daily basis. Each year we face more intense storms, with hurricane season arriving earlier and ending much later.
The conference is the 26th Conference of the Parties (COP) to the UN Framework Convention on Climate Change and the third meeting of the parties to the Paris Agreement. It is being held in Glasgow, Scotland, United Kingdom, between 31 October and 12 November 2021, under the presidency of Rt. Hon. Alok Sharma.
Diana Ross releases first album of new songs in 20 years
Diana Ross' first album of new, original songs in over 20 years, Thank You, got its release today.
Coinciding with the album's arrival, the Motown legend debuted her first music video in more than a decade, for her new song "All Is Well." The clip, which you can watch on her official YouTube channel, was directed by Amanda Demme in collaboration with Ross' two sons, producer Evan Ross and photographer Ross Naess.
As previously reported, Thank You was recorded in Diana's home studio during the COVID-19 pandemic shutdown, and features producers and songwriters who've created hits for Taylor Swift, Kanye West, Usher, Justin Bieber, Sam Smith, Ariana Grande, Beyoncé and Rihanna.
Ross says of the 13-track collection, "I spent the past year recording new music and this music is a reflection of the joy and the love and the gratitude that I feel every day. It's an album of great appreciation for life, and for all of you."
Prior to Thank You's release, Ross debuted three songs as advance tracks -- the title cut, "If the World Just Danced" and "I Still Believe."
Diana's last album of new, original songs was 1999's Every Day Is a New Day.
Source- ABC
Gang leader calls for the overthrow of Prime Minister Henry in Haiti
The leader of a federation of nine gangs, is calling for the removal of Prime Minister Ariel Henry from office, adding that it could be done “at the cost of blood”.
Former policeman, Jimmy Cherizier, known as “Barbecue” and the leader of the G9 Family and Allies, told a news conference earlier this week that the United Nations and the United States should cut ties with the government in order to help “liberate Haiti.
“We take this opportunity to invite the United Nations in general and the so-called friendly countries of Haiti, in particular the United States of America, to register in this page of history as loyal allies who want the well-being of the Haitian people by divorcing the status quo,” Cherizier said.
Media reports said that G9 controls entire sections of the capital of the French-speaking Caribbean Community (CARICOM) country and have been accused of assassination and mass killings, including the murder of infants.
Cherizier, who has denied the allegations, has repeatedly called for the resignation of Prime Minister Henry, blaming him for much of the unrest in the country.
The former police officer has accused Prime Minister Henry of taking part in the assassination of President Jovenel Moise, who was shot and killed at his private residence on July 17. Moise’s wife, Martine, had to be flown to the United States for treatment after being injured during the shootings.
Police have held several people, including former Colombian army officers, but the main suspect, Joseph Felix Badio, Is still at large.
Cherizier has joined in calls for the investigation of Moise in the killing, after after mobile phone calls between Henry and Badio became public. The calls were made on the night of the assassination.
Henry has denied the reports insisting that on the noght of the assassination he had spoken to several people.
The statement by Cherizier calling for the removal of Prime Minister Henry comes as efforts continue to negotiate the release of 17 members of a missionary group from the United States, abducted by the 400 Mawoze gang which is demanding US$17 million for their release.
The gang’s leader, Wilson Joseph, has threatened to kill the group, which includes five children if the ransom is not paid.
Meanwhile, UNICEF is warning that school children in urban areas are increasingly becoming the targets of those engaged in the kidnappings here.
UNICEF said that since the start of the school year in September, at least seven schools in and around Port-au-Prince have already been forced to pay armed gangs in exchange for safety, and others have been threatened.
Most of them are located in areas of the city controlled by gangs. The amount of money the gangs are asking for is usually equivalent to the tuition fees of three students per class.
“In areas controlled by the gangs, school directors and teachers are constantly under threat and, if they refuse to pay, their schools come under attack,” said Jean Gough, UNICEF Regional Director for Latin America and the Caribbean.
“Across the capital city, more and more fear at school means less and less learning. Gangs are rapidly turning temples of knowledge into theatres of violence.”
Rising threats and acts of gun violence forced some school directors to relocate their schools to other areas out of control of the gangs.
UNICEF is urging everyone to respect education facilities and wants the government to ensure security in and around schools and take firm action to address gang violence against children.
Source-CMC
Majority of US workers to fall under vaccine mandate on Jan. 4
Nearly 100 million U.S. workers will be required to get the COVID vaccine by January 4, with some workers allowed to test weekly instead, under sweeping federal rules released Thursday by the Biden administration that identifies COVID-19 as an occupational hazard.
The regulations are aimed at health care workers and businesses with 100 or more employees, covering two-thirds of the nation’s workforce. Businesses that don’t comply could be fined $14,000 per infraction, and hospitals could lose access to Medicare and Medicaid dollars.
It’s part of President Joe Biden’s aggressive new plan to try quell a pandemic that’s overshadowed his presidency and hobbled the economy. At the same time, the January 4 date is a nod to industry groups that insisted the administration wait until after the holidays to impose mandates in the midst of a worker shortage.
President Biden’s plan also gives federal contractors an extra month to comply, sliding a previous December 8 deadline set by the administration. Federal workers are still required to be vaccinated by November 22.
When asked whether the worker shortage was a factor in the decision, administration officials said the primary focus was on making compliance easier for workers and aligning deadlines across the private sector.
Dr. Anthony Fauci and CDC director Rochelle Walensky testified Thursday before the Senate Health, Education, Labor, and Pensions Committee about the vaccine mandate, with the latter saying, "We know the most disruptive thing in our workforce is to have a COVID outbreak and to have workers in that workforce come down with COVID infection, severe disease, and in some cases, death."
Source-ABC
HONOURABLE AKIERRA MISSICK, MINISTER OF PHYSICAL PLANNING & INFRASTRUCTURE DEVELOPMENT & LEADER OF GOVERNMENT BUSINESS, SUPPLEMENTARY APPROPRIATION ADDRESS
A pleasant morning to you Mr. Speaker, members of this Honourable House, Strangers in the gallery, residents of the best constituency, ED5, Leeward and Long Bay, as well as those listening via Radio Turks and Caicos and live stream.
Mr. Speaker, I rise in full support of our Government’s 1St Supplementary Appropriation Bill for the FY 2021/22, defined by our Deputy Premier and Minister for Finance as a “well-developed financial plan”.
This Supplementary Appropriation seeks to increase revenues from two hundred and seventy-four million (US$274M) to three hundred and sixty-three million (US$363M).
Mr. Speaker, as a result of the strong leadership and prudent financial management of team PNP over the past nine (9) months, our Government proposes to increase expenditure by roughly 1% that is right Mr. Speaker, 1% of the existing budget.
Further Mr. Speaker, some seven million, seven hundred thousand dollars ($7.7M) will be reallocated across Ministries and departments.
I am pleased to advise the Ministry of Physical Planning and Infrastructure Development will benefit from additional funding in the amount of two million, one hundred and eighty-nine thousand, one hundred and thirteen dollars (US$2,189,113), Mr. Speaker.
And this funding will support seven of our capital projects which need additional funding for completion. Mr. Speaker, these projects and sums include:
• Rehabilitation of the Salt Shed in Salt Cay – US$70,000
• Reinstatement of Government Buildings in all islands- (Crown Lands Building) –
US$125,000.00
• Additional works to Green Door – Shelters and Emergency Operations Centers –
US$10,556.00
• Front Street Road Works – US$640,000.00 (for the upgrade of secondary/side access roads and making Front Street a Promenade, which includes reheating and stamping of asphalt)
• NJS Francis Building – US$1,000,000.00 (This allows for further much needed upgrades to the building. Present scope only allowed general repairs. Upgrades include fire alarm and fire suppressant, air conditioning system, lights, faucets, fittings & fixtures). NJS Francis is the
People’s house Mr Speaker, it should look and feel as such.
• Mechanical Workshop GDT – US$75,000.00
• Installation of City Water Lines in Long Bay, Wheeland, and Blue Hills – US$200,000.00
(requested amount to cover full water piping to Highland Estate, Wheeland)
Mr. Speaker, once the supplementary is passed, my team are in standby mode to move these additions forward.
As you would be aware, Mr. Speaker, the Ministry of PPID launched the COVID Works program on September 1, 2021 and some 8.3M was allocated in our recurrent budget to facilitate this program. However, Mr. Speaker, with the reopening of the Cruise Industry imminent, $2M from the COVID Works will be redirected from those works to our Capital Projects under PWD to facilitate the construction of Grand Turk boaters and water-sports operators dock at South Base.
Mr Speaker, we also confirm that TCIG is now the owner of the Grand Turk Beach Vendors Market. This investment alone is a clear indication that this Government is investing in the Tourism product in the Capital. This site will provide a safe, clean, unique, exciting, and lively location for our Grand Turk vendors to establish their trade in the Islands. This invest is in excess of 3M, including purchase and large-scale renovations and new construction on the site.
Mr. Speaker, as I prepare to take my seat, I want to reiterate my support for this supplementary and to thank the hardworking team at the Ministry of Finance and by extension the Budget Office for their continued hard work and dedication to duty.
Mr. Speaker, my team and I at PPID will continue to put the best interests of the people of this country at the forefront of every decision we make, as we work to provide the highest standard of service delivery across our departments and indeed these Beautiful by Nature, Turks and Caicos Islands. Mr. Speaker, may God continue to bless you and the Turks & Caicos Islands. Good Afternoon!
COVID-19 causing shift in socio-economic profiles of Caribbean states
Executive Director of the Caribbean Disaster Emergency Management Agency (CDEMA), Elizabeth Riley, says the protracted nature of the COVID-19 pandemic has caused a radical shift in the socio-economic profiles of Caribbean states.
“This has put additional pressure on our social protection systems and I think it taught us quite a lot about the real importance of factoring in human behaviour, and the different perception of risk is something that very much came to the fore,” she said during Wednesday’s session of the virtual Seventh Regional Platform for Disaster Risk Reduction in the Americas and the Caribbean.
“We continue to see it today even with respect to the extent to which persons are accepting vaccines [or] are hesitant about vaccines.”
Riley said that the challenges of COVID-19 provided the opportunity for CDEMA to set up an integrated regional logistics hub to supply countries with much-needed items, including personal protective equipment (PPE).
“We set up in Barbados, located at the Bridgetown port for items which were coming in via marine transport and at the Grantley Adams International Airport, for those which came in by air,” she noted.
“We were able to work together with private-sector partners, including regional airlines, our military colleagues, to ensure that these PPEs, as they came into Barbados, they were pushed back out very quickly to all of our CARICOM states, and this was quite a successful exercise.”
CDEMA is the regional intergovernmental agency for disaster management in the Caribbean Community (CARICOM).
The entity was established in 1991 as the Caribbean Disaster Emergency Response Agency (CDERA), with primary responsibility for the coordination of emergency response and relief efforts to participating states that require such assistance.
It transitioned to CDEMA in 2009 to fully embrace the principles and practice of Comprehensive Disaster Management (CDM).
Source- CMC
T20 CWC-INNINGS Sri Lanka 189-3 (20 overs) vs West Indies – Group 1
Sri Lanka, sent on by West Indies, reached 189 for three off their 20 overs in their Group 1 game of the Twenty20 World Cup at the Zayed Cricket Stadium here Thursday.
Scores:
SRI LANKA 189 for three off 20 overs (Charith Asalanka 68, Pathum Nissanka 51, Kusal Perera 29, Dasun Shanaka 25; Andre Russell 2-33) vs WEST INDIES