The head of the Barbados-based Caribbean Policy Development Centre is calling for the international community to provide greater volumes of new and additional concessional grant-based climate financing to address the sovereign debt and climate finance crises facing Small Island Developing States in the Caribbean.
The CPDC says that since gaining political independence in the 1960s, several Caribbean countries have been and continue to be among the most indebted in the world.
It said that at the end of 2020, six Caribbean countries, namely Jamaica, Barbados, Suriname, Belize, Dominica and Antigua & Barbuda, have been ranked in the top 10 of the world's most highly indebted SIDS, with their public debt stock far exceeding 10088 per cent of their Gross Domestic Product.
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