Phillips Wants G20 to Help Caribbean Countries Overcome 2008 Recession

Finance Minister Dr. Peter Phillips, has once again urged the powerful G20 group of countries to make good on its promise to assist the Caribbean region to mitigate the effects of the financial recession of 2008.

He was Speaking during a Caribbean breakfast and caucus meeting in Washington DC on Monday, as part of the World Bank and International Monetary Fund, IMF Spring Meetings now underway.

Last October, Dr. Phillips urged the G20 to deliver on its promise.

Minister Phillips expressed concern that the group of major economies has not kept its promise to provide financial support to assist the region.

He says the Caribbean continues to suffer because the expectations that were generated in 2008, coming out of the first meeting of the G20 nations, for resources to alleviate the plight of the region, have not been fulfilled.

Dr. Phillips says there’s an urgent need for the G20 to fulfil its promise, citing the region’s high debt burden, climatic vulnerabilities, along with energy insecurities.