IMF Deputy Managing Director Praises St. Kitts and Nevis’ Climate Adaptation Efforts
Washington, DC: Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), recently concluded a visit to St. Kitts and Nevis, where he engaged in constructive discussions with Prime Minister Terrance Drew, Governor Timothy Antoine, Chairman Camillo Gonsalves, and members of the Eastern Caribbean Central Bank (ECCB) Monetary Council.
Following his visit, Mr. Li issued a statement highlighting the country’s progress in climate adaptation and urging collaborative efforts to address climate finance challenges.
Mr. Li commended St. Kitts and Nevis for its commitment to building resilience in the face of climate change. He acknowledged the existential threat posed by climate change to the Caribbean region and emphasized the importance of leveraging renewable energy resources to mitigate its impacts.
Mr. Li underscored the need for comprehensive climate policies and strong public finance management to ensure sustainable development.
Furthermore, Mr. Li reiterated the IMF’s commitment to supporting ECCU member countries through policy advice, capacity development, and lending via the Resilience and Sustainability Trust (RST).
He emphasized the importance of affordable and sustainable financing for adaptation investments and the transition to green energy.
Mr. Li called for greater collaboration among multilateral development banks, international financial institutions, and bilateral donors to mobilize private climate finance effectively.
Prime Minister Terrance Drew expressed his appreciation for the IMF’s interest in the region and welcomed the opportunity to deepen cooperation in addressing developmental challenges.
He emphasized the importance of regional collaboration and highlighted the potential of pooling resources to attract private sector investments.
Chairman Camillo Gonsalves echoed Mr. Li’s sentiments, emphasizing the need to accelerate climate adaptation efforts and secure adequate financial resources.
He praised the IMF’s willingness to collaborate on renewable energy projects and shine a light on adaptation finance challenges facing the region.
