St. Kitts – Nevis’ Govt. Discuss Global Financial Crisis

Nevis, West Indies Premier - Joseph Parry

Nevis, West Indies Premier – Joseph Parry

Basseterre, St. Kitts – Nevis
March 25, 2009 (CUOPM)

The Cabinets of the Federal Government of St. Kitts and Nevis and the Nevis Island Administration began meeting Wednesday morning for what Prime Minister Hon. Dr. Denzil L. Douglas said is “to weather the global financial and economic storm that is spreading fast and which no doubt will impact us here in St. Kitts and Nevis.”

“I know that both ministries of finance have been talking with each other. I know that we have had the opportunity to have had joint sessions at various levels. We have benefitted to a large extent from what has unfolded from the international financial institutions that have been paying close attention and monitoring of the federal economy,” said Prime Minister Douglas.

He said the finance ministries in the Federal Government and the Nevis Island Administration have also had the benefit of the regional and international financial institutions giving advice and assessment of what to expect as the financial storm continues to blow.

“We want to see how we can have a formalised or institutionalized approach to respond to these issues and how at the end of the day we can ensure that our governments and our people do not go under, but instead be able to buttress ourselves and use the challenge that we face and create opportunities for the new St. Kitts and Nevis that we are creating out of this,” said Prime Minister Douglas.

He hoped the discussions will be frank, forthright and identify solutions to overcome the challenges.

Premier of Nevis, the Hon. Joseph Parry said he appreciated the opportunity of another joint Cabinet meeting noting that since his NRP-led Nevis Island Administration assumed office there has been several meetings.

“I can assure everyone that we have had a very excellent working relationship, not only at Cabinet level, but also at ministerial level where Ministers of Government have worked very well together,” said Mr. Parry.

“Prime Minister we are very much aware of the global climate, of the difficulties the world faces, that we in the Caribbean face and every government in the Caribbean faces at this moment is going through all these challenging experiences, no less so St. Kitts and Nevis,” said Mr. Parry.

He said he was satisfied that as both Administrations work together, dialogue, cooperate and coordinate together “that we will be able to overcome.”

“This year is especially challenging. No one expects the recession would end this year and so we have to be very careful and prudent in whatever we do and in terms of decision making, they will have to be beyond 2009, in the medium term and even the long term,” said Premier Parry, pointing out that the Nevis Island Administration has taken a number of measures on the Island of Nevis guided by the Ministry of Finance.

“We continue to discuss with our Permanent Secretaries and our partners in the private sector and we look forward to the continued working relationship with the (Federal) Government with members of the IMF and any other party that would continue to assist not only us but all the governments in the Caribbean through these difficult times.”

Premier Parry said he was optimistic that much will be accomplished as both sides spend their minds to the serious business of running the country.”

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