PM urges developing nations to join forces - VOB

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PM urges developing nations to join forces

Barbados Prime Minister Mia Amor Mottley has warned that Barbados and other developing nations face a number of threats to their viability resulting from the actions of more powerful nations and to applause as she delivered a prestigious lecture in Geneva has urged affected nations to join forces to fight the economic and environmental onslaught.

Ms. Mottley was delivering 16th Raul Prebisch Lecture at the Palace of Nations in Geneva, Switzerland.

Her themes included the need for moral leadership in the world, the extent to which richer nations have extracted wealth from poorer states leaving them locked in a cycle of poverty and also what to rousing applause she termed regulatory tyranny, an apparent reference to the blacklisting of Barbados and other Caribbean Nations as tax havens.

Ms. Mottley also cited as a major threat to the survival of Caribbean economies the process of what is called de-risking by international banks who are starting to pull-back from certain operations in this part of the world.

And in the wake of the devastation of Hurricane Dorian in the Bahamas, she spoke of serious economic and other threats posed by climate change which she insists require a multi-lateral response.

In this regard, Miss Mottley announced that Barbados proposes to sponsor an investment and insurance forum of experts to discuss such issues.

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