Happenings In Our Community - September 29, 2023

Minister of Foreign Affairs and Foreign Trade Kamina Johnson Smith has warned that only chaos will reign in Haiti if the international community fails to act quickly to help that country.

Delivering Jamaica’s policy statement at the 78th Session of the United Nations (UN) General Assembly in New York on Tuesday, Johnson Smith reiterated Jamaica and the Caribbean Community’s (Caricom) call for international action to restore order and security in Haiti.

“It is critical that we fully support all meaningful efforts to contribute to a Haitianled solutions to the multidimensional and multifaceted challenges with which they are

SEPTEMBER 29, 2023

faced. Let me be clear: there are no easy fixes. But let me be equally clear — doing nothing is not an option,” said Johnson Smith

“Jamaica supports the call for a multinational security support mission to bolster the Haitian National Police in their efforts to vanquish ever strengthening criminal gangs,” added Johnson Smith as she noted that Prime Minister Andrew Holness has already made it clear that, subject to the relevant Security Council resolution, Jamaica will contribute personnel to participate in such an effort.

Jamaica’s Foreign Minister Kamina Johnson Smith (right) is escorted to address the 78th session of the United Nations General

Assembly on Tuesday.

“We listened in Port-au-Prince when the Caricom mission visited earlier this year. We have also heard the clear call of the majority of the Haitian people as reflected in the polls conducted in Haiti by reputable local civil society and international agencies.

“We, therefore, urge the permanent members of the Security Council to put aside geopolitical sensitivities, and to answer the call of the Haitian people and of their brothers and sisters in the Caribbean region.

“A UNSC Chapter 7 resolution, authorising a multinational security support mission, must be adopted without further delay,” added Johnson Smith.

‘Doing nothing is not an option’ Strident Johnson Smith urges UN states to take urgent action to save Haiti

Armed members of “G9 and Family” march in a protest against Haitian Prime Minister Ariel Henry in Port-au-Prince, Haiti, last Tuesday. (Photos: AP)

She told the General Assembly that Jamaica joins Caricom’s commendations of Kenya’s President William Ruto for his commitment to lead such a mission and welcome the offers from othAer countries, including from our own region.

“We call on other capable countries, other capable regions, to lend their, financial, human, logistical and in-kind support to ensure that the mission on which we must embark will be effective in delivering peace and stability for the people of Haiti.

“Despite the many competing issues, Jamaica cannot be any clearer. Ordinary Haitians are suffering. Humanitarian support cannot be distributed in insecurity; hospitals cannot deliver care in insecurity; children cannot go to school in insecurity; people cannot go to work in insecurity; candidates cannot offer themselves and citizens cannot vote in insecurity,” declared Johnson Smith.

She warned that the situation in Haiti can, and will become even worse, if the world does not act.

“Peace and reasonable stability are indisputably necessary preconditions for each and every aspect of support, short. Mediumand long-term development needed in Haiti include the holding of free and fair elections.

Rest assured that only chaos will reign if the international community remains distracted. We must meet the moment,” added Johnson Smith.

The foreign affairs minister underscored that Jamaica will also continue to lend its support to the Caricom Eminent Persons Group (EMG) as they work with the Haitian Government and stakeholders towards a Haitian-owned solution to the political and governance crisis that has gripped the nation.

“Having hosted the first EPG meeting with stakeholders in Kingston in June of this year, we remain unwavering in our commitment to working towards a sustainable political outcome,” said Johnson Smith, some 24 hours after the the United States and Kenya signed a defence agreement that will see the East African nation get resources and support for security deployments as it is poised to lead a multinational peacekeeping mission to Haiti to combat gang violence.

Kenya has pledged to send 1,000 security officers to Haiti to combat gang violence in a mission that is pending the UN Security Council’s formal approval.

Gang violence has surged in the Haitian capital of Port-au-Prince and surrounding areas in recent months, with 1,860 people

reported killed, injured or kidnapped from April to June, a 14 per cent increase compared with the first three months of the year, according to the latest UN statistics.

Gangs have overwhelmed Haiti’s National Police, which is under-resourced and understaffed, with roughly 10,000 active officers for a country of more than 11 million people.

Gangs are now estimated to control up to 80 per cent of Port-au-Prince and have grown more powerful since the July 2021 assassination of President Jovenel Moïse.

Nearly 200,000 Haitians have been forced to flee their homes as gangs pillage communities and rape and kill people living in areas controlled by rival gangs, a tenfold increase in the past two years, according to the UN Office for the Coordination of Humanitarian Affairs.

More than 20,000 displaced Haitians are living in crumbling and unhygienic shelters where gangs prey on young children and try to recruit them.

Jamaica’s Foreign Minister Kamina Johnson Smith (right) is escorted to address the 78th session of the United Nations General Assembly on Tuesday.

Restore dignity for people of African descent

Jamaica’s push for reparation for transatlantic chattel slavery has been moved into the United Nations (UN) General Assembly by Minister of Foreign Affairs and Foreign Trade Kamina Johnson Smith.

Delivering Jamaica’s policy statement at the 78th Session of the UN General Assembly in New York on Tuesday, Johnson Smith argued that a shared commitment to achieve progress, prosperity and sustainability for all cannot be fulfilled until, “we definitively close the chapter on slavery and its legacies in our global history”.

“The residual impact of the immorality of slavery and the transatlantic slave trade has lingered for far too long, and justice and accountability are long overdue.

“The systemic imbalances caused by centuries of exploitation constitute the foundation of the persistent underdevelopment, which countries like Jamaica have worked hard to overcome,” said Johnson Smith.

“Jamaica, therefore, reaffirms its determination to further the call for the international recognition of reparatory justice as a necessary path to complete healing, restoration of dignity, and progress for people of African descent.

“Together, we must stride confidently forward in good faith, building on the lessons of that horrific past, and moving purposefully towards a common future. Furthermore, Jamaica supports the call for an extension of the International Decade for People of African Descent as insufficient progress has been made to address racial injustices worldwide,” added Johnson Smith.

A recent report on reparation for transatlantic chattel slavery in the Americas and the Caribbean has suggested a US$108-trillion debt owed by the perpetrators.

The report, titled ‘Reparations for Transatlantic Chattel Slavery in the Americas’, was produced by a team led by International Court judge, Jamaican Patrick Robinson and says that Britain alone owes the descendants of the enslaved in 31 countries in the Caribbean, Central America and North America US$24 trillion, of which US$9.5 trillion is owed to Jamaica.

It states that Spain has a debt of US$17 trillion, of which Jamaica is entitled to about $1 trillion; France owes US$9 trillion; Portugal, US$20 trillion, including US$4 trillion to Brazil; and the Netherlands owes about US$5 trillion to its regional colonies, including Suriname.

https://www.jamaicaobserver.com/news/restore-dignityfor-people-of-african-descent/

Minister of Foreign Affairs and Foreign Trade, Kamina Johnson Smith.

Minister of Foreign Affairs and Foreign Trade, Kamina Johnson Smith spekaiking at an event at the Consulate General of Jamaica, New York.

Jamaica Wants Investments, Not Loans, Minister Says

• Industry Minister Aubyn Hill says fiscal prudence paying off

• Caribbean nation this month won a credit upgrade from S&P

By Zijia Song and Jim Wyss September 27, 2023 at 9:54 AM EDT

Markets are rewarding Jamaica after years of painful adjustments turned an emerging markets “basket case” into a standout, said a senior government official.

The island of 2.8 million people recently posted one of its lowest unemployment rates in history, has slashed its debt levels by nearly half and recorded economic growth in the first half of 2.9%. This month, it won a rare sovereign credit upgrade from S&P Global Ratings.

“We had to go through very tough and bitter doses of medicine, fiscal medicine, to get our house back in order,” said Minister of Industry, Investment and Commerce Aubyn Hill in an interview in New York. Now “everything seems to be going well and it’s not because we do believe in providence, but it’s also because of a great deal of good and serious management.”

That is being reflected in global markets, where bonds from high-yield rated Jamaica — which was upped to BB- by S&P — trade more like investment-grade BBB debt, according to its spreads over US Treasuries. Its notes due in 2039 fetch the highest premium among emerging-market bonds, according to a Bloomberg index.

It marks a significant turnaround for a country that defaulted on local debt a decade ago and was later forced to take on an International Monetary Fund program. Back then, its debtto-GDP ratio was nearly 150%. That’s come down to around 77% and the government is committed to lowering it to 60%, Hill said.

“We want to be in that position where the market is looking for new paper from Jamaica with anticipation,” Hill said. “It’s a very good place to be. We’ve worked hard at it.”

Prime Minister Andrew Holness, who took office in 2016, named Hill — a Harvard-educated former banker — to his cabinet after winning reelection in 2020.

Katrina Butt, a senior economist at AllianceBernstein, said the nation has one of the best fiscal outlooks among all emerging markets, as it has run a primary fiscal surplus for the last several years. There’s limited upside for the bonds as they already “trade very rich” and are a favorite among local, buy-and-hold investors, she said.

“The sound macro economic backdrop and strong policy track record from authorities” have also contributed to the tight spreads, according to Thomas Jackson, analyst at Oppenheimer & Co.

“We don’t anticipate a notable shift in terms of bond performance moving forward as spreads still remain quite tight even relative to its now higher credit rating,” he added.

China Gateway

As Jamaica weans itself off of producing sugar — which was once one of its largest exports — it has pushed forward on tourism and the tech fronts, Hill said. It’s adding some 20,000 new hotel rooms over the next five years and education is second only to spending on finance in its budget. The island also sees promise in US and Canadian nearshoring efforts.

Senator the Honourable Aubyn Hill, Minister of Industry, Investment and Commerce

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Diaspora Conversations with Senator Kamina Johnson Smith

Strengthening Jamaican Ties in New York

NEW YORK - On Monday, September 25th, the Consulate General of Jamaica in New York played host to the event Diaspora Conversations with Senator the Honourable Kamina Johnson Smith, Minister of Foreign Affairs and Foreign Trade. Despite the evening’s rain, attendees from across the United States, including Utah, Boston, Atlanta, and Philadelphia, joined those from the New York area to engage in a dialogue aimed at strengthening the bonds between Jamaica and its diaspora.

Consul General Alsion Wilson set the tone for the evening with a warm welcome, emphasizing the significance of the Jamaican diaspora’s contributions to the island nation’s development. The event gained momentum as Senator the Honourable Aubyn Hill, Minister of Industry, Investment, and Commerce, addressed the audience, extending greetings and encouraging attendees to consider investing in Jamaica, highlighting the opportune moment for such endeavors.

Senator Johnson Smith took the stage as the keynote speaker. She delivered a passionate address that highlighted the importance of collaboration between the Jamaican government and its diaspora. Johnson Smith emphasized the government’s commitment to fostering meaningful relationships with its citizens abroad, promising to continue working together to address the challenges faced by the diaspora community and maximize the benefits of their contributions to Jamaica.

The Question and Answer segment of the event was skillfully moderated by Community Relations Officer Chris Benjamin. Attendees had the opportunity to submit their questions prior to the event with the answers provided mainly by Senator Johnson Smith and Minister Hill, as well as the President of JAMPRO (Jamaica Promotions Corporation), Shullette Cox and Consul General Wilson.

A highlight of the evening came when a young entrepreneur, Yolondo Salmon, surprised attendees with a generous pledge of $7,000 towards scholarships. Salmon’s commitment to the future of Jamaica’s youth underscored the significance of community engagement and investment in education.

The event was not limited to those physically present; it was also streamed live, allowing individuals worldwide to participate in the meaningful conversation. For those who missed the event, the recording is still available online, ensuring that the dialogue between the Jamaican government and its diaspora continues to reach and inspire people across the globe.

Senator the Honourable Kamina Johnson Smith, Minister of Foreign Affairs and Foreign Trade

Jamaican Consulate General Fuels Economic Growth with Business Delegation

NEW YORK - In a bold and forward-looking move, the Consulate General of Jamaica in New York recently lent its unwavering support to a business delegation from Jamaica, aimed at expanding their presence on the global stage and, in turn, bolstering the Jamaican economy. Coordinated in collaboration with the JAMPRO office in New York, these events showcased the commitment of both the Jamaican government and its business community to stimulate economic growth.

Leading the charge was Senator the Honourable Aubyn Hill, Minister of Industry, Investment, and Commerce. Accompanying him were 39 distinguished business leaders, representing 29 dynamic companies from various sectors, all driven by a common goalto enhance their footprint and, by extension, contribute to Jamaica’s economic prosperity.

The Consulate General of Jamaica served as the venue for several crucial events during the delegation’s visit. On Monday, September 25th, a high-profile Business Networking event unfolded, attracting a diverse array of local business leaders keen on forging meaningful connections with their Jamaican counterparts

On Tuesday, September 26th, the delegation engaged in pivotal meetings with representatives from the New Jersey Economic Development Authority. These discussions aimed to foster opportunities for cross-border investments and partnerships, aligning the interests of both regions for mutual growth.

An equally significant event was the “Doing Business with Jamaica Luncheon.” Here, the delegation had the chance to interact with potential investors and partners, showcasing the diverse range of opportunities available in Jamaica’s thriving business landscape. This luncheon not only facilitated networking but also underscored the attractiveness of Jamaica as a strategic destination for business expansion.

The Jamaican team, also included the President of JAMPRO, Shullette Cox, and Interim CEO of the Jamaica Special Economic Zone Authority (JSEZA), Kellie Dawn Hamilton, displaying impressive cohesion and determination throughout the delegation’s journey.

The story didn’t end in New York. Following these successful engagements, the delegation set its sights on London, continuing their mission to promote Jamaica as a thriving hub for business and investment.

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Continued from page 7

While the US is by far Jamaica’s largest trading partner, the country has also been a conduit for China’s push into the region. Jamaica is the Caribbean’s biggest beneficiary of Chinese investment at $3.16 billion, according to the US House Foreign Affairs Committee.

Hill said those loans came at a time “when, frankly, the United Sates was busy doing other stuff.”

The last of those loans dates back to about 2017 and China holds around 4% of the nation’s total debt stock. At the time they were used to build industrial parks, highways and finance economic development projects. Now, what the island wants is investments, according to Hill.

“We’re not looking for loans,” he said. “We are at a place where we have moved our balance sheet to a position where it can stand on its own.”

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