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IMF Willing to Help Hurricane-Ravaged Caribbean Countries

first_img International Monetary Fund (IMF) Managing Director, Christine Lagarde, says her organisation is willing to help the Caribbean countries severely affected by the passage of Hurricanes Irma and Maria.“The IMF stands ready to do whatever it can to help in those situations – in assessing macroeconomic implications, determining financing needs, and providing financial support that would also help catalyse broader financing from the rest of the international community,” she said.Ms. Lagarde was speaking at the opening session of the Sixth IMF High Level Caribbean Forum held at The Jamaica Pegasus hotel in New Kingston on Thursday (November 16).She noted that emergency relief following events like hurricanes is a key responsibility of the global community.The IMF head also proposed convening an event with all the major public and private stakeholders to explore options for building resilience in the region, including risk mitigation and debt-management strategies.She added that this will be done by working with the Caribbean authorities and in close collaboration with the World Bank, the Inter-American Development Bank, the Caribbean Development Bank, and other development partners.Meanwhile, Ms. Lagarde expressed her deepest sympathies to the governments and people of the Caribbean for the loss of life and devastation caused by Hurricanes Irma and Maria.“These hurricanes have again highlighted the special vulnerabilities of the Caribbean and the need to strengthen its resilience. Climate change is expected to certainly intensify the impact of natural disasters and worsen the vulnerabilities of small states in the Caribbean. Rising sea levels increase risks of erosion and flooding, and warmer water temperatures heighten the potential for more intense hurricanes,” she pointed out.She added that “we must come together to address the challenge posed by climate change and help those most affected by it”. She added that this will be done by working with the Caribbean authorities and in close collaboration with the World Bank, the Inter-American Development Bank, the Caribbean Development Bank, and other development partners. The IMF head also proposed convening an event with all the major public and private stakeholders to explore options for building resilience in the region, including risk mitigation and debt-management strategies. Story Highlights International Monetary Fund (IMF) Managing Director, Christine Lagarde, says her organisation is willing to help the Caribbean countries severely affected by the passage of Hurricanes Irma and Maria.last_img read more

Svitzer Starts Building Moroccan Fleet

first_imgzoom Svitzer, part of the Maersk Group, has ordered four ASD tugs from Sanmar Shipyards to service the recently awarded TMSA, Tanger Med 2 Port contract in the Kingdom of Morocco.As reported earlier, Svitzer won a 20-year concession to provide terminal towage services to the Tanger Med 2. The contract has been valued at several hundred million USD, Svitzer said, and calls for a total of nine vessels by the end of the concession.The four newbuildings will be 90 tonnes bollard pull RAstar 2900 SX terminal tugs with escort ability and accommodation space for eight crew members.The delivery is expected to take place in the autumn of 2018 and will service APMT’s concession for container terminal services to the port of Tanger Med 2 for a minimum period of 20 years.The Tanger Med port complex is located on Africa’s northwest coast near the mouth of the Mediterranean Sea on the Strait of Gibraltar and is the second-busiest container port on the African continent.last_img read more