53rd Annual Meeting: Statement by The Alternate Governor for Venezuela, Ambassador Raul Licausi on Behalf of The Regional Non Borrowing Member Countries
text-based document cover
Download PDF

It is an honor for me to participate in this Board of Governors, chaired by Saint Lucia as host country.  We congratulate the Prime Minister, The Honourable Philip J. Pierre, and his team for organising and hosting this event.

We also salute the work carried out by the President of the Caribbean Development Bank, Dr. Gene Leon, and we take this opportunity to thank him for his working visit to our country in March of this year, hoping to deepen the presence and participation of Venezuela in this institution.

From Venezuela, we believe that CDB's approach for 2023, which will seek to focus on access to financing, is very relevant for the current economic situation, as it is a fundamental aspect of the development process in emerging economies.  An obvious reality is that the global demand for financing is enormous, at all levels and in all aspects, while the amount of monetary resources has always been limited.

The reorientation of access to financing is a central issue in the current financial order, since developing countries require greater support from international financial institutions, with access criteria that not only measure indicators of economic income but that do not depend on subordination to the implementation of specific economic policies, and that can also address the vulnerability of these economies to external shocks, natural disasters, and variations in international markets, especially in the countries with the greatest difficulties.

In response to the challenges facing the world today, we believe in the importance of the reconfiguration of the global economy towards a diversified and multipolar one. Today's world is witnessing a breakdown in the traditional economic order, and in this regard, we highlight the role played by emerging economies, mainly through their association in cooperation blocs such as the BRICS, whose presence on the international scene is on the rise.

The global monetary system is moving in a more inclusive direction, with diverse payment arrangements.  Hence, a new international financial mechanism that gives trade real freedoms for expansion is pertinent.

In this sense, the Bridgetown Initiative 2.0 could generate sufficient momentum and energy to enable the development of a New Regional Financial Architecture, more inclusive for developing countries, more responsive to the current economic and financial challenges, with less preponderance of conditionality and oriented towards ensuring the welfare of the people.

Although we have faced strong economic and financial challenges in recent years, we can finally begin to leave behind the period of complexity that the COVID-19 pandemic entailed, whose economic aftermath we have not yet been able to overcome, while we move forward in our efforts to resolve complex geopolitical scenarios, mitigate climate change and address the food and energy needs of developing countries.  It is our duty to emphasise, both in this and in all possible spaces, that the willingness to work together as a Region is a responsibility and must be our guiding principle.

Our presence in the historical path towards development in the Caribbean region is undeniable, however, the imposition of illegal coercive measures unilaterally on my country, as well as on Cuba and Nicaragua, which seek to impose themselves on the principles of international law, not only have negative effects on our peoples, but the development initiatives that we have implemented with our brothers in the Region have been severely affected, presenting a negative scope at the regional level.  However, in the face of the attacks by imperialist powers, we affirm our willingness to continue working together with this institution and hand-in-hand with its member countries for the economic development and welfare of the peoples.  Let us move forward for a new international economic order of justice, balance, inclusion and compensation.

Finally, Excellencies, allow me to convey to the CDB our best wishes for another successful year, and to reiterate to all our Caribbean brothers and sisters that they can count on the friendly hand of President Nicolás Maduro Moros, representing the Government and the People of Venezuela, in the face of the challenges and adversities on the road to development, a long and complex path that undoubtedly requires collective actions and a renewed leadership in the international concert.

I thank you.