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(CMC) – Prime Minister Allen Chastanet is among Heads of Government from several small developing states addressing IMF-World Bank Annual Meetings Thursday on Challenges Facing Small States.
The Small States Forum is once again expected to be a major feature of the meetings underway in Bali, Indonesia.
Chastanet, whose portfolios include Finance, Economic Growth, Job Creation and External Affairs Chastanet is leading a delegation which includes Minister for Economic Development, Guy Joseph, Permanent Secretary in the Department of Finance Cointha Thomas and Permanent Secretary in the Department of Economic Development Phillip Dalsou.
The official Annual Meetings of the IMF and World Bank Group were preceded by a number of meetings with various country groupings including the Caribbean caucus, the Commonwealth Senior Officials and Ministers for Finance and the working group session of the V20, which is a grouping of the 20 most vulnerable countries to global climate change.
One of the main purposes of the V20 grouping is to develop new and improved approaches to climate finance and to promote the mobilization of public and private climate finance, a statement from the Office of the Prime Minister noted.
“These measures are of immense importance to the Government of Saint Lucia; particularly given the focus all building resilience for Saint Lucia, as articulated by the Prime Minister in his 2018/2019 budget address,” it noted.
Chastanet is attending the Small States Forum Meeting on Thursday, a high level session that brings together Finance Ministers and Central Bank Governors from 50 small states to discuss the most pressing challenges faced by these states.
The official schedule of activities will commence on Friday with an IMF Board of Governors meeting which will be also be attended by the Prime Minister.
The IMF/ World Bank Annual Meetings are hosted by the Boards of Governors of the World Bank Group and IMF. Participants discuss a range of issues related to poverty reduction, international economic development and finance along with other global issues.
The meetings bring together Central Bank Governors and Ministers of Finance from 189 countries along with prominent persons from the private sector, academics, non-government organisations, and media. In total, it is expected that there will be approximately 15,000 participants.
The sessions continue on Saturday with a number of important meetings being attended by members of St Lucia’s delegation.
The mission trip will end with a V20 ministerial meeting on Sunday where several pressing issues will be discussed including access to climate finance.