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The de-risking of the correspondent banking relationships are extremely essential to the Caribbean because global financial banks have actually been vital not only to domestic economy however in its link to the international economy. Some services have actually currently been choked off and there must be a way for us to discover an effort that integrates the security objectives which we subscribe to, and likewise at the very same time, allow monetary intermediation such as trade financing, transfers of earnings, debt payments, et cetera, to continue. Third, security. The little states of the Caribbean find it very hard to compete with multinational criminal activity connected to narcotics trafficking, global terrorism, cybersecurity, et cetera.

has done an outstanding job in supporting these nations, but I believe there is room to do more in the interest of our shared security. Security nowadays can just be specified as international and can only be reacted to by cooperation among countries. Furthermore, in the trade area there are some great legislation in location for trade. Nevertheless, much of the Caribbean countries are now service oriented nations and we require to analyze possibilities for promoting mutual and helpful value chains which combine U.S. and Caribbean in services such as healthcare, education, and back workplace assistance. I think by integrating the skills on Capitol Hill with a few of the human resources in the Caribbean, these companies can stay competitive both here and in the U.S - What is internal rate of return in finance.

The Caribbean countries are coastal societies. Infrastructure, economic activity, population, the structure environment are all concentrated on a narrow strip on the coast, even for those nations which are not islands, for instance, Belize and Guyana. It implies that they are among the most susceptible countries to climate change. More resources require to be made available in a more available method to alleviate climate change and to assist these nations in enduring. And I point especially to the traveler industry which is critically based on the quality of that immediate seaside strip. Lastly, energy (How to finance building a home). The Caribbean, bar the exceptions of Trinidad and Tobago, depend greatly on importation of energy.

Solar, wind, and thermal all have possibilities, and to shift the production of electrical power which is amongst the highest expense in the world onto energy in more economical sources. That would serve to restore an entire series of economic activity, consisting of manufacturing. What happened to household finance corporation. And I conclude, Mr. Chairman, by saying that all of these are interrelated elements that require to be addressed. If we might resolve them in one overall effort led by the U.S. and involving the development of banks, I think that they reinforce each other and it is time for a brand-new vibrant effort in U.S. policy toward the Caribbean.

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[The ready declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you a lot for making the effort to be here. Mr. Meeks has concurred we are going to avoid over him and go to the former chairman of the complete committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so quite and I excuse coming late. And we have another hearing which I am chairing on Syria, but thank you, Chairman Duncan and Ranking Member Sires, for holding this crucial hearing. And I don't believe that we can discuss U.S.

Venezuela developed Petrocaribe in 2005 to assist influence lots of countries in the hemisphere and as much as this point the method has worked. Nevertheless, now we see the collapse of the Venezuelan economy because of the incompetence of the Maduro regime. So it provides the U.S. an opportunity to fill that void, and this is where we require the State Department and the Department of Energy to be very focused on this effort right now due to the fact that it remains in our national security interest to coordinate an energy option; a technique so that fewer countries in the Western Hemisphere would depend on a really undependable timeshare cancellation services Venezuela.

And I believe that we have got to be dealing with our partners, our allies in the Caribbean to help them take benefit of the abundant and cheap natural gas and the brand-new sophisticated clean wind and solar technologies readily available. This way we reinforce our partners' economies, we buffer the region from the impacts of Venezuelan collapse and take practical steps toward decreasing carbon emissions. So the crisis in Venezuela may trigger an oil supply disturbance. What effect would such an interruption have on the Caribbean countries? Mr. Bernal. My coworkers are determined to make sure I bring a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complex one. Venezuela initiated the Petrocaribe at a time when lots of Caribbean countries were truly extremely stretched economically and really needed some help. However, the relationship has its intricacies. For example, Venezuela claims a large share of Guyana which belongs to the CARICOM group. It likewise has extended its claims in terms of seaside waters based upon an island practically 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean taking advantage of some monetary assistance. I believe we are at a point where the relationship is going to end up being very unpredictable because of nobody understands exactly what will occur in the Caribbean with Venezuela.

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Numerous Caribbean countries are thinking beyond Petrocaribe due to the fact that they do not assume that it will continue in its present form and they have to be believing of options. This produces a point in which new efforts, including from the U.S - How to owner finance a home. in energy, would be very welcome in the region. Ms. Ros-Lehtinen. Thank you really much, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for taking some time to run down here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and good to see all of you who, you know, we trust quite with your knowledge and because the Caribbean is incredibly essential, I believe.

It is actually, you understand Extra resources when you look at our hemisphere and we have got to make certain that we reinforce and interacting. And I hear my colleagues in concerns to specifically Petrocaribe, but I think that the concerns that are confronting a lot of the islands-- and I notice, for instance, Mr. Ambassador, you listed as number 6 in order of priority the energy crisis, et cetera, in trying to ensure. So I wish to search for out as it pertains to the islands themselves the More help things that are most pressing with them that would assist them total with their economy, due to the fact that I know, for example, you can't simply rely on tourism or you can't just rely on, you understand, they have the diversity of it requires to be there.