Bernal. I will take the very first shot on this one since I just completed a week ago, 8 years on the board of directors of the Inter-American Advancement Bank. I can ensure you that the Inter-American Advancement Bank in specific has actually been very active and has actually provided considerable assistance across a variety of sectors (What does ltm mean in finance). I think that our big brother, the World Bank, has actually contributed, however I would venture to suggest that there is scope for much more resources to be taken into the region. The issue here is that the Caribbean is categorized as middle income, developed nations and are for that reason left out from particular concessional facilities and are not always viewed as a top priority when it pertains to hardship alleviation.
Sometimes it is one sector, tourist, and therefore while they are middle income they are vulnerable and need continued assistance. The U.S., I think, has a crucial role in prompting the development organizations to continue to play a function in the Caribbean. Mr. Farnsworth. Just a quick coda to that too. We have actually talked a little bit about the debt overhang that affects the Caribbean and so there is a prospective future function, maybe not too far in the future, in terms of the global banks perhaps the IMF too to really help resolve some of those debt problems in a significant and lasting method.
Mr. Duncan. We have time for a couple of more concerns. I believed it was going to be simply the ranking member and myself. I am pleased we had such active participation. I am pleased you showed up. Brazil is worried about tourism with regard to the Olympics. And tourist being such a big part of the Caribbean nations' economy and a huge part of the U.S. tourist headed there-- Zika. It has got to be on their minds. I think I am worried about just how much U.S. assistance will make it to the Caribbean nations and whether Zika is even an issue on the island nations themselves and what impact that may have on tourist, or expected effects.
Eric? Mr. Farnsworth. It is really much on the minds of the hemisphere neighborhood. You referenced Brazil and I believe that is definitely appropriate. Although, in Brazil right now it is the winter season and the mosquito population in the winter tends to go down, and so at least we speak with the Olympic organizers that Zika won't be as much of an issue throughout this current time of the Olympics, et cetera. But look, Zika is an issue throughout the area and certainly here in the United States too. As I explain in my ready remarks, it seems to me that this could be an easy win for the United States if we want to put it in those terms.
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All of us have an extremely real incentive to eliminate it as fast and as quickly and as adequately as possible. So there is a lot of excellent research going on in the United States and other locations. As soon Hop over to this website as the vaccine or the best approach to resolve Zika comes forward, why not, working with the Caribbean partners and others in the hemisphere have a really substantial public health effort that affects people where they live? I suggest, this is the kind of thing, these are the types of lessons we are discovering that are very efficient from other countries when they do it whether it is Venezuela, whether it is China, whether it is other countries due to the fact that this is what individuals need.
Ms. Yearwood (What does nav stand for in finance). The Caribbean Hotel & Tourism Association, the Caribbean Tourist Company, the Caribbean Public Health Agency, and the Pan American Health Company are all thoroughly associated with attempting to deal with the Zika crisis not just at the international level but also at the tourism level. Individuals recognize Zika as a particular issue that could impact the economy of the entire region and so they are very cognizant and working towards trying to contain the risks and dealing with the vector management, et cetera. I think to Eric's point, the capability of those firms to have higher involvement by the U.S.
Mr. Bernal. Mr. Chairman, if you will permit me. Zika is a problem in itself, however it raises a much more comprehensive problem which is hemispheric and worldwide pandemics. There are many people moving around the area from the U.S., Canada, from the Caribbean-- a number of million a year-- that it is an interest of typical and mutual value that we try to combat these pandemics. Early intervention is crucial. The minute-- we require to have a fast-acting reaction to the possibility of pandemics. We understand, for instance, that method back in the '60s when there was a break out of polio in Jamaica that for a relatively little quantity of expenditure on preventive measures, vaccines, we could have avoided a significant human catastrophe.
It is in our shared interest. What happened to yahoo finance portfolios. These are concerns which are not nationwide or perhaps local. They are worldwide, and the only way to tackle them is by reliable cooperation. In passing, let me state that the debt circumstance is such that it is starting to constrain the governments and their capability to do health and education which has long term adverse repercussions for advancement. If we might address the financial obligation, and maybe among the areas to take a look at is to generate structures and development representatives to look at debt-for-health swaps in which a few of the debt can be alleviated which money be put into preventive health care.
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Duncan. Thank you for that. I would be remiss if I didn't point out Haiti and Dominican Republic, and ask-- I will let you ask the https://merianti6j.doodlekit.com/blog/entry/19211419/how-how-to-finance-a-manufactured-home-can-save-you-time-stress-and-money concern if you would like. Mr. Meeks. I would be remiss if I didn't ask about Haiti and the Dominican Republic. Mr. Duncan. So migration, economy, situation in Haiti with the federal government, if you all simply want to touch on that. Ms. Yearwood. That is opening a bunny hole, however there are a great deal of possible ways to address this concern. Haiti remains in a particularly intriguing scenario. As I mentioned I was there for 13 years.
And whether it is with the Parliament or the federal government, criminal activity is on the rise. Spending plan wise, we know the U.S. and European Union are not going to be offering cash towards elections. Last I heard, there was no money in the Haitian budget for elections, so in some way they require to find 55 million to get to a set of elections that no one is certain, you understand, if it can occur and if it will take place because of the deadlock on the ground there. What does leverage mean in finance. What is a consumer finance company. That of course has effects on the DR-Haiti migration issue. If Haiti continues to slide downhill, it is going to be difficult pressed for anyone to be able to stop the flight of migrants either to the Dominican Republic, the Bahamas, Turks and Caicos, Jamaica, and obviously Florida and the United States.