The de-risking of the correspondent banking relationships are very crucial to the Caribbean due to the fact that worldwide monetary banks have been vital not just to domestic economy but in its link to the worldwide economy. Some services have already been choked off and there need to be a method for us to find an effort that integrates the security goals which we sign up for, and also at the exact same time, enable monetary intermediation such as trade funding, transfers of revenues, debt payments, et cetera, to continue. Third, security. The small states of the Caribbean find it very difficult to compete with transnational crime linked to narcotics trafficking, international terrorism, cybersecurity, et cetera.

has actually done an impressive task in supporting these countries, however I believe there is room to do about timeshares more in the interest of our shared security. Security nowadays can only be specified as international and can just be reacted to by cooperation among countries. Fourthly, in the trade location there are some great legislation in place for trade. Nevertheless, a number of the Caribbean nations are now service oriented nations and we require to https://www.onfeetnation.com/profiles/blogs/little-known-questions-about-how-long-can-you-finance-a-camper examine possibilities for promoting shared and advantageous worth chains which integrate U.S. and Caribbean in services such as healthcare, education, and back workplace support. I believe by integrating the skills on Capitol Hill with some of the personnels in the Caribbean, these firms can stay competitive both here and in the U.S - How to finance a car from a private seller.

The Caribbean countries are coastal societies. Facilities, economic activity, population, the building environment are all focused on a narrow strip on the coast, even for those nations which are not islands, for instance, Belize and Guyana. It indicates that they are amongst the most vulnerable nations to climate modification. More resources require to be made available in a more accessible way to reduce climate change and to assist these nations in enduring. And I point particularly to the traveler industry which is seriously based on the quality of that immediate coastal strip. Finally, energy (What was the reconstruction finance corporation). The Caribbean, bar the exceptions of Trinidad and Tobago, depend heavily on importation of energy.

Solar, wind, and thermal all have possibilities, and to shift the production of electrical energy which is amongst the greatest cost worldwide onto energy in more economical sources. That would serve to revive an entire variety of economic activity, consisting of production. What does ltm mean in finance. And I conclude, Mr. Chairman, by stating that all of these are interrelated aspects that need to be addressed. If we might resolve them in one total effort led by the U.S. and including the development of financial institutions, I believe that they strengthen each other and it is time for a brand-new vibrant initiative in U.S. policy towards the Caribbean.

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[The prepared statement of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you so much for making the effort to be here. Mr. Meeks has concurred we are going to avoid over him and go to the previous chairman of the full committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so extremely much and I ask forgiveness for coming late. And we have another hearing which I am chairing on Syria, but thank you, Chairman Duncan and Ranking Member Sires, for holding this crucial hearing. And I do not think that we can discuss U.S.

Venezuela developed Petrocaribe in 2005 to assist influence lots of countries in the hemisphere and as much as this point the strategy has actually worked. However, now we see the collapse of the Venezuelan economy due to the fact that of the incompetence of the Maduro regime. So it provides the U.S. an opportunity to fill that void, and this is where we need the State Department and the Department of Energy to be incredibly concentrated on this effort right now because it remains in our national security interest to collaborate an energy solution; a strategy so that less nations in the Western Hemisphere would depend on a very unreliable Venezuela.

And I think that we have actually got to be dealing with our partners, our allies in the Caribbean to help them benefit from the plentiful and inexpensive gas and the new sophisticated tidy wind and solar innovations readily available. In this manner we enhance our partners' economies, we buffer the area from the effects of Venezuelan collapse and take practical actions towards decreasing carbon emissions. So the crisis in Venezuela might trigger an oil supply disturbance. What effect would such a disruption have on the Caribbean countries? Mr. Bernal. My associates are identified to ensure I bring a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complicated one. Venezuela initiated the Petrocaribe at a time when lots of Caribbean nations were really extremely stretched financially and really needed some assistance. Nevertheless, the relationship has its complexities. For example, Venezuela declares a very large share of Guyana which is a member of the CARICOM group. It also has actually extended its claims in regards to coastal waters based upon an island almost 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean gaining from some monetary assistance. I believe we are at a juncture where the relationship is going to become really unforeseeable since of no one understands precisely what will take place in the Caribbean with Venezuela.

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Numerous Caribbean nations are believing beyond Petrocaribe because they do not assume that it will continue in its present form and they need to be thinking about alternatives. This creates a juncture in which brand-new initiatives, including from the U.S - How to finance an engagement ring. in energy, would be really welcome in the area. Ms. Ros-Lehtinen. Check over here Thank you extremely much, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for taking time to run down here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and good to see all of you who, you know, we trust very much with your competence and because the Caribbean is very crucial, I believe.

It is really, you know when you look at our hemisphere and we have actually got to ensure that we reinforce and working together. And I hear my colleagues in concerns to specifically Petrocaribe, however I think that the issues that are challenging a great deal of the islands-- and I observe, for instance, Mr. Ambassador, you noted as number six in order of concern the energy crisis, et cetera, in attempting to make certain. So I want to look for out as it relates to the islands themselves the things that are most pressing with them that would assist them general with their economy, since I understand, for example, you can't simply rely on tourist or you can't simply depend upon, you know, they have the diversification of it needs to be there.