Antigua and Barbuda PM Browne looks up to US for more financial investment in Caribbean

Caribbean nations at the present time are facing unsustainable debt burdens, which is usually equal to 100% of the total GDP.

PM Gaston Browne asks the US to make more financial investments in Caribbean.

Earlier this week, speaking during an interview, Antigua and Barbuda Prime Minister Gaston Browne, in his statement, noted that the American Joe Biden led-administration should increase the financial investment as an assistance to the Caribbean countries to support in their battle against the environmental issues and natural disasters, such as climate change. 

He underscored the Caribbean nations at the present time are facing unsustainable debt burdens, which is usually equal to 100% of the total GDP, adding that he feels the world’s superpower nation must step up and help the region to retain the standard of living of their citizens. 

“As to my view, the government of the United States ought to pay more attention to the Caribbean region in helping us to maintain our standard of living to avoid any mass movement of people. If individuals are not able to live in Caribbean countries, then clearly they will end up on the shores of the United States as refugees,” the prime minister keeping his opinion further mentioned. 

Following the statement, PM Browne noted that these loans are of more utmost and favourable as compared to the loans which are being lent by the International Monetary Fund – IMF and the other multilateral agencies across the globe. Although, no statement has been issued by the American government authorities regarding the request of the Antiguan prime minister.  

Highlighting his expectations from the Biden government, PM Browne added, “We expect the United States would utilize its influence in the multinational financial institutions to the effect that change“. 

Impact of COVID-19 pandemic on the Caribbean: 

The contagious viral disease had a jarring impact on the different sectors and economies of the Caribbean region, which was on the list of most affected regions by the COVID-19. As per the data shared by IMF, the economy of the Caribbean region nations contracted by around 9.8% in the year 2020.