To confront economic and climatic vulnerabilities of Caribbean countries that have only amplified since the COVID-19 outbreak, executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC) Alicia Bárcena has called for urgent concessional funds to be provided to address these countries’ vulnerabilities.

According to her, Latin American and Caribbean countries are suffering the effects of the COVID-19 crisis through a drop in trade with their main trading partners, lower prices for commodities, the disruption of global value chains, lower demand for tourism services, and a decline in remittances.

In addition, the fall in tourism-related visits calculated at between 57 and 75 per cent in 2020, will entail a loss of between US$22 billion and US$28 billion in income, high exposure to climate change, and a high level of public indebtedness.

http://www.jamaicaobserver.com/business-report/eclac-put-forth-proposals-to-increase-fiscal-space-in-caribbean-countries_198177