The Inter-American Development Bank (IDB) hosted the Fifth Annual Meeting of the Governors of the Caribbean Country Department (CCB) in Washington between Thursday and Friday.IDB’s President Luis Alberto MorenoThe meeting was to exchange ideas,Wholesale China Jerseys, discuss their economies, and what role the IDB can play. According to bank, topics discussed at the meeting included responses to the effects of climate change,China NFL Jerseys, specific initiatives to diversify the region’s energy matrix and promote sustainable development, and the unique challenges to the Caribbean sub-region posed by de-risking and the possible interruption of correspondent banking relationships.The Caribbean sub-region was among the hardest hit by the 2008 global economic downturn, and most Caribbean economies have still not recovered pre-2008 growth rates.“ Throughout the Americas, the region’s economies registered a mix of good and poor economic results with some nations suffering sharp declines in commodity prices and others experiencing increases in tourism during 2015. As a whole, the Latin American and Caribbean region posted 3.8% growth in GDP. The countries of the Caribbean grew at 1.5 percent in 2015 and are projected to grow at 1.6 percent in 2016,” a statement from the bank said yesterday.Led by discussions on the region’s economic performance,Cheap NFL Jerseys, the two-day meeting reviewed the details of the bank’s operations in 2015 and discussed challenges and opportunities for 2016. Topics discussed at the meeting included the world economic outlook and financing options for the region.Addressing senior officials from the IDB’s CCB member countries, IDB President Luis Alberto Moreno stated: “Given that many of our borrowing member countries face strong macroeconomic headwinds, it’s essential for the bank to preserve its capacity to support growth recovery and stability. Our priority will continue to be supporting the region’s most vulnerable economies.”The gathering also gave senior IDB managers an opportunity to explain the impact of the recent reorganization of the various departments of the bank that work with private-sector operations. The new entity within the IDB Group was created in recognition of the importance of public-private partnerships in the financing of infrastructure and how the IDB is better positioned to promote development in the Caribbean.According to data presented during the meeting, the IDB registered some significant growth in its 2015 loans to CCB member countries, which include The Bahamas,Jerseys NFL Cheap, Barbados, Guyana,Cheap NFL Football Jerseys, Jamaica, Suriname and Trinidad and Tobago:In 2015, the IDB approved US$557.2 million for improving the Caribbean’s citizen security, energy and transportation infrastructure and expanding the efficiency and coverage of basic social services in the region. Disbursements in 2015 totaled US$351.3 million.In 2015, the IDB approved one of the Bank’s largest-ever private sector loans to a CCB country for US$175.0 million for the Kingston Container Terminal Project in Jamaica.The IDB also approved US$17.0 million in grant financing to its CCB member countries. These operations provided support to Caribbean regional initiatives in tourism, trade facilitation, logistics, energy integration, and transport.Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

– Minister of Agriculture“…We have not thrown our hands in the air or bowed our heads in despair. We have taken a bold and visionary role in addressing the threat of climate change.”Minister of Agriculture, Robert Persaud, told the National Assembly when he addressed the issue of climate change and some of the initiatives being undertaken to ensure the country’s well being in the face of this crisis.The core of the Minister’s address centered on the current El Nino weather pattern, the effect it was having on the country and the Government’s response. However,Cheap Jerseys Free Shipping, he did take the time to identify the root cause of the country’s current drought-induced worries and the policies and projects in place to tackle the problem head on.Global weather patterns that once went back and forth between seasons have become increasingly violent and erratic as hurricanes become stronger, rainy seasons and monsoons deliver greater deluges and hot, sunny weather reaches new peak temperatures around the world.The time spans of these activities are changing as well, with seasons either protracting or lengthening far outside of the norm. The rising levels of pollutants in the air over the last few decades have upset the delicate balance that keeps the planet safe from harmful radiation as well as creating an avenue for higher temperatures on a global scale.The effects of these changes are far-reaching and impact the entire world. For Guyana,Cheap Jerseys, the most imminent threats are from prolonged and heavy rainy seasons, drought-like conditions and rising sea-levels since the country has a tendency to flood easily and a third of our Gross Domestic Product (GDP) comes from the Agricultural sector.Minister Persaud noted that the government has recognised the danger of flooding and drought to the livelihoods of Guyanese and has taken the initiative to embark on several national projects aimed at reducing the risk associated with these threats, projects that are now integrated into the national budget and are allocated funding every year.According to the recent budget,Cheap Jerseys 2018, approximately $3.2B has been allocated to several projects in the area of flood and drought prevention and mitigation. This includes increased resources being allotted for capacity development to the National Drainage and Irrigation Authority (NDIA), the Hydrometeorological Service and the Civil Defence Commission (CDC). Mentioning the Low Carbon Development Strategy (LCDS) and the benefits expected to arise from the scheme, the Minister said that the monies derived therein would be used to fund adaptation works along the lines of drainage, irrigation and sea defenses.He also said that the Government, ever mindful of the need for proactive initiatives to deal with the practical adverse impacts of climate change, has increased the capacity of the CDC with the National Disaster Preparedness Plan holding centre stage as it is reviewed.The plan encompasses national prevention,NFL Jerseys China, preparedness and relief plans to cope with all types of disasters, inclusive of drought conditions and flooding.According to the Minister, several bodies have been set up with the specific intention of focusing on Climate Change. These are the Climate Change Unit in the Office of the President, the REDD (Reducing Emissions from Deforestation and Degradation) Secretariat in the Guyana Forestry Commission and a National Climate Change Committee which holds representatives of the Guyana Forestry Commission, the Guyana Lands and Surveys Commission, the Guyana Energy Agency,Cheap NFL Shop, the Environmental Protection Agency, the Hydromet Service and the University of Guyana.

– decisions made by CabinetA critical forensic audit report of the National Insurance Scheme (NIS) is out and it speaks of major investment decisions being made by the Cabinet, and not by the supposedly independent Board of Directors.Former NIS Chairman Dr. Roger Luncheon“Some of the decisions, including the purchase of shares in the Berbice Bridge Company Inc. (BBCI),Soccer Jerseys From China, are continuing to severely impact the scheme’s cash flows and the recoverability of the investments,” wrote auditor, HLB R. Seebarran & Co. , in the report.The report covers the period of December 2011 to May 31, 2015 with information and data included from earlier periods to have a more comprehensive understanding of the scheme from the inception to present.The audit was ordered by the David Granger administration following the coalition’s assumption of office in May last year following early general elections. It was one of several launched into state-owned agencies.Based on several instances, the report concluded that Cabinet had significant input over the previous board, with certain decisions made which the directors accepted without any discussions, analysis and due diligence to determine the merits of those decisions.The forensic audit was done to not only determine whether NIS was complying with its mandate and good practices, but to assess and test systems and detect any instances of corporate malfeasance.It was also to determine the authenticity and validity of significant commercial and financial transactions entered into by the entity with related parties, suppliers and customers, and measure the extent of potential prejudice the entity may have suffered through such dealings,Cheap NHL Jerseys, if any.NIS was established in accordance with the National Insurance Act in September 1969. The entity extends social insurance coverage on a compulsory basis, to all persons between the ages of 16 and 60 years who are engaged in insurable employment. Coverage is also extended on a voluntary basis, to persons who cease such employment before reaching 60 years.A forensic audit report on the National Insurance Scheme is out and it appears that the previous board was being directed by the Cabinet of Ministers, under the last administration.The last board was chaired by the then Cabinet Secretary,Cheap Jerseys Store, Dr. Roger Luncheon, and included members none of whom had any actuarial or insurance background, except for the General Manager, Doreen Nelson, the report said.Luncheon, up to last May, in addition to chairing the NIS board,Cheap Football Jerseys, was also the Cabinet Secretary.“In fact, many of the members had served on the Board for many years, but when the minutes of the BOD (Board of Directors) for the last four years were reviewed, they confirmed that critical decisions, in particular those for investments, were made by Cabinet and not the BOD. This is not what the NIS Act intended, as it provides guidance on how the Board of Directors should be appointed and regulates its proceedings.”In one case, in a meeting of the board held on July 30, 2012, the General Manager informed the Board that Cabinet made a decision for the scheme to purchase a property in Paramaribo, Suriname for ?535,000.“There was no evidence that the Board had deliberated before agreeing on this investment nor was there any evidence that a feasibility study was done to determine whether the price paid was consistent with the value of the property,” the report disclosed.There were a number of bad investments which now have NIS scrambling to ensure it recovers its monies. These include the CLICO investment of $5.1B; the loss of an estimated $1.9B in interest income for the years 2009 to 2014 relating to that investments which the last Parliament promised to repay the scheme and the investment of $2.59B in the Berbice Bridge.The bridge is making losses and has many issues now engaging government.At the end of June, 2015 the scheme’s investments stood at $30B comprising short term investments valued $20.3B, mainly of treasury bills, fixed deposits and CLICO; medium term investments valued $1.69B, mainly overseas investments in Government’s foreign account and a loan to CARICOM and long term investments valued $7.995B.Included in the long term investments are shares in companies and BBCI. The cost of the investment in BBCI is $2,562,228,000 which represents 8.5% of total investments.“The NIS Act provides for BODs the autonomy to make investment decisions. However,Cheap NFL Jerseys China, as explained under Corporate Governance, the Board accepted decisions made by Cabinet in particular investments in the BBCI and the acquisition of a property in Su