High Fuel Prices In Saint Kitts – Nevis
Basseterre, St. Kitts – Nevis
June 05, 2008 (CUOPM)
St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas has been suggesting ways in which the Caribbean can combat rising fuel and food prices.
Addressing the 38th Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB) the St. Kitts and Nevis leader said the need exists for farming to be seen as a business, an examination of spending patterns, improved technologies and training.
In his address, Prime Minister Douglas noted the reality of the situation in the Caribbean at this time which is faced with “astronomical oil prices which continue to climb; rising food prices and in some cases shortages in essential items; increasing debt burdens coupled with declining access to concessionary funding; environmental concerns in particular the impact of climate change; as well as rising crime and its impact on our economies. These are coupled with the widely acknowledged problems of small size and our inherent vulnerability to natural disasters with which we continue to grapple.”
Dr. Douglas suggested the development of a strategy for dealing with issues associated with rising oil and food prices and an integrated response to rising fuel and food prices that looks at the impact on the overall fiscal and economic policy framework.
“We must examine social safety nets and their appropriateness in light of the Banks ultimate commitment to the reduction of poverty. In addition to looking at alternative sources of energy for the medium to long term, we must devise contingency arrangements for dealing with larger and longer than expected interruptions in the supply of oil and food,” said Dr. Douglas, who called for studies to be carried out on the region’s food supply to determine how adequate, dependable and affordable it is and look at ways to improve the identified short comings.