BASSETERRE, St. Kitts - AS the Budget Debate kicked off in Parliament, Opposition Leader Mark Brantley chastised the Finance Minister for his silence on the potential impact of the ongoing Guyana/Venezuela territorial dispute on the local economy.
In his near six-hour presentation, Finance Minister Dr. Terrance Drew tabled an EC$1.1 Billion Budget that includes increases for public servants, pensioners and other measures to tackle inflation and potential economic shocks.
But with the dispute between the two oil powerhouses and allies of the Federation, no discussions were had on the potential fallout.
Brantley, while rising to begin the Debate, criticised Dr. Drew for his silence on the possible impact on the pockets of the citizens and residents.
He outlined the contribution of Guyanese to the development of the country and the fact that Venezuela has provided assistance to the enhancement of the Federation, including the $1M to former sugar workers and the PetroCaribe agreement.
Brantley noted that should the two oil developing countries continue to have their dispute over two thirds of Guyana, it could have serious implications on the cost of oil on the global market, electricity and other variables locally.
“We in St. Kitts and Nevis have an obligation to play an active role in preventing this calamitous potential of war or conflict in the Essequibo region. Not only is it critical for our diplomatic efforts to mediate this dispute between our brother Venezuela and our sister Guyana, but it is also, I propose, in our national interest to do so.
“Any conflict involving oil rich Venezuela and oil rich Guyana will further restrict global oil supplies and exacerbate global oil prices. And as we have all come to know and understand, that if there is any difficulty with global oil prices, we the ordinary people in St. Kitts and Nevis, far removed from the world of conflict, nevertheless pay a price. Bread and all goes up because I suppose the electricity to power the ovens is more costly,” Brantley told the National Assembly.
With the Federation’s economy still on the rebound from the COVID pandemic, a possible impact of fuel surcharge will adversely affect the pockets of many, as some of it will be borne by consumers and in other instances by the Government.
“The impact of rising oil prices clearly has a knock-on effect on inflation and the cost of living. And small countries like ours will pay the price of yet further increases for fuel, transportation, electricity and that pressure in terms of inflation,” Brantley added.
Prime Minister Dr. Terrance Drew travelled to Kingstown, St. Vincent and the Grenadines to engage in an emergency meeting between the leaders of the two countries and the Caribbean Community (CARICOM) Heads of Government, is being under the auspices of the Community of States of Latin America CARICOM, CELAC, Brazil and UN observers.
“Following the Opening Statement of the Budget Debate by Leader of the Opposition Hon. Mark Brantley, Prime Minister Hon. Dr. Terrance Drew has embarked on a diplomatic mission to Saint Vincent and the Grenadines,” the government said in a press statement.
EDITOR’S NOTE
On Thursday (Dec. 14), a historic “peace meeting” was held in St. Vincent and the Grenadines between Guyana’s President, Dr. Irfaan Ali, and Venezuela’s Head of State, Nicholas Maduro, which were brokered by Prime Minister Dr. Ralph Gonsalves, led to the announcement of nine critical measures aimed at de-escalating tensions over the Essequibo Region.
Listed below are the measures:
1.Both parties, directly or indirectly, will not threaten or use force against one another in any circumstances, including those consequential to any existing controversies between the two States;
2.The two States agreed that any controversies will be resolved in accordance with international law, including the Geneva Agreement dated February 17, 1966;
3.Guyana and Venezuela committed to the pursuance of peaceful coexistence and the unity of Latin America and the Caribbean;
4.Both also agreed to hold their respective positions. Guyana maintains that it is committed to the process and procedures of the International Court of Justice for the resolution of the border controversy. Meanwhile, Venezuela’s assertion is that it does not recognize the ICJ in adjudicating the border controversy;
5.Both also agreed to continue dialogue on any other pending matters of mutual importance to the two countries;
6.Guyana and Venezuela agreed that they will refrain, whether by words or deeds, from escalating any conflict or disagreement arising from any controversy between them. The two States will also cooperate to avoid incidents on the ground conducive to tension between them. In the event of such an incident, the two States will immediately communicate with one another, the Caribbean Community (CARICOM), the Community of Latin America and the Caribbean (CELAC), and the President of Brazil to contain, reverse and prevent its recurrence;
7.They also agreed to establish immediately, a joint commission of the Foreign Ministers and technical persons from the two States to address matters as mutually agreed. An update from this joint commission will be submitted to the Presidents of Guyana and Venezuela within three months;
8.Furthermore, both States agreed that Prime Minister, Dr. Ralph E. Gonsalves, the Pro-Tempore President of CELAC, Prime Minister Roosevelt Skerrit, the incumbent CARICOM Chairman, and President Luiz Inacio Lula da Silva of Brazil will remain seized of the matter as Interlocutors and the UN Secretary-General, Antonio Guterres as Observer, with the ongoing concurrence of Presidents Irfaan Ali and Nicolas Maduro. For the avoidance of doubt, Prime Minister Gonsalves’ role will continue even after Saint Vincent and the Grenadines ceases to be the Pro-Tempore President of CELAC, within the framework of the CELAC Troika plus one; and Prime Minister Skerrit’s role will continue as a member of the CARICOM Bureau; and
9.Both States also agreed to meet again in Brazil, within the next three months, or at another agreed time, to consider any matter with implications for the territory in dispute, including the above-mentioned update of the joint commission.
