Network for Cooperation in Integrated Water Resource Management for Sustainable Development in Latin America and the Caribbean No. 39

Editorial remarks.-- Open discussion: Tariff policies for the achievement of MDGs ; Natural resources within UNASUR ; The human right to water and sanitation.-- Meetings: Tariff and Regulatory Policies ; Transboundary Water Cooperation ; Latinosan III.-- News of the Network: National Water Resources Strategy ; Hydroelectric Development in Chile.-- Internet and WWW News

Proposal on debt for climate adaptation swaps: a strategy for growth and economic transformation of Caribbean economies

ECLAC advocates that the Caribbean’s high debt dilemma was not principally driven by policy missteps, or the international financial crisis. Rather, it finds its roots in external shocks, compounded by the inherent structural weaknesses and vulnerabilities confronting Caribbean SIDS and their limited capacity to respond. A major factor has been the underperformance of the export sector, partly due to a decline in competitiveness and a slowdown in economic activity especially among the tourism-dependent economies. Caribbean countries have also accumulated debt as a consequence of increased expenditures to address the impact of extreme events and climate change attendant difficulties. Most Caribbean countries are located in the hurricane belt and are also prone to earthquakes and other hazards. Indeed, a disaster resulting in damage and losses in excess of 5 per cent of GDP can be expected to hit any Caribbean country every few years. Moreover, over the period 2000-2014, it is estimated that the economic cost of natural disasters in Caribbean countries was in excess of US$30.7 billion. The English Speaking Caribbean countries are extremely vulnerable to natural disasters.