Global Warming

Climate change and its possible effects on countries, especially small island-states, was a centre point of discussion at the recently concluded Commonwealth Finance Ministers meeting attended by the Financial Secretary, the Hon. Kenneth Jefferson.

Held in Guyana from 15 to 17 October, the meeting was attended by 44 of the 53 member states of the Commonwealth group of nations. Among other topics, participants discussed debt relief to heavily indebted poor countries; promoting investment; public finance management; gender issues; development cooperation; and International Monetary Fund (IMF) and World Bank affairs.

Commonwealth Finance Ministers usually hold their meeting a few days prior to the IMF and World Bank joint annual meeting. It provides a forum to give Commonwealth representatives a mandate on issues to raise with the two international monetary organisations. The IMF and World Bank held their 2007 meeting in Washington from 20 to 22 October.

Stressing that some member countries are already feeling the effects of global climate change, it was agreed that the finance and planning ministries of each jurisdiction will play critical roles in addressing the challenges of climate change.

"It was recognised that governments need to be proactive in dealing with the possible consequences of climate change," Mr Jefferson said. He explained that much attention was paid to the likely impact on small states, especially island nations, because they are believed to be most vulnerable to the dangers of global warming.

In a joint communiqué following the Guyana conference, the Finance Ministers pledged to ensure that Commonwealth member nations will continue to share experiences relating to climate change.

For further information contact: George Alleyne