Prime Minister Andrew Holness | Jamaica’s big steps on journey of greatness

Below is an edited version of the prime minister’s speech at the United Nations headquarters in New York last Friday.

Jamaica is pursuing several policy and legislative measures designed to create a more cohesive society and a more resilient economy. Our major goals are the promotion of inclusive sustainable growth, economic opportunities, peaceful society, social harmony, and citizen security. We are working to make this a reality for every Jamaican.

Greater investment in human capital will undoubtedly yield exponential returns for national development. Empowerment of our people will facilitate participation in the growth and development of Jamaica, our region, as well as the wider international community.

Special attention must be given to the most vulnerable in the society to ensure that no one is left behind. We have, therefore, increased the budgetary allocation to the Jamaica Social Protection Strategy, which encompasses wider social and income security imperatives associated with a range of vulnerabilities.

In 2017, we revised our National Poverty Reduction Programme aiming to reduce the national prevalence of poverty to below 10 per cent by 2030. We are working to ensure that persons living with disabilities, the elderly, women, children and young people are part of an inclusive, resilient and prosperous society.

We have made significant advances with universal enrolment at the pre-primary, primary and secondary levels of education through a strategic and integrated programme of education and training.

As part of this endeavour, we are increasing emphasis on science, innovation and technology. We are committed to creating a labour force adaptable to the new and emerging demands of the global workplace.

We also launched the Housing, Opportunity, Production and Employment programme (HOPE), which engages unattached young people in training, life skills, character development and employment. Over the last three years, more than 26,000 young people have benefited from the programme and have become ambassadors of HOPE. In addition to cutting youth unemployment in half over the last three years Jamaica has achieved:

• A record-low unemployment rate of 7.8 per cent.

• 18 consecutive quarters of economic growth.

• Low and stable inflation; and

• A reduction in our debt-to-GDP ratio from 147 per cent to 95 per cent.

I have shared these indicators of Jamaica’s steady economic performance, while fully acknowledging that the successes are not solely dependent on a strengthened domestic fiscal responsibility framework but also on an enabling global economic and financial environment. Jamaica is determined to achieve economic independence and social equity, working collaboratively with our bilateral and multilateral partners.

THE FIGHT AGAINST CRIME

A major challenge for Jamaica is crime and security, particularly in terms of its impact on our economic development goals. Despite the strong programmes that are in place to get guns off the street, and our investments in improved border-control systems, we DO NOT by ourselves have the capacity to stem the flow.

The malignant link between organised crime, the illegal drug trade and the illicit proliferation and trafficking of small arms requires transnational, regional and multilateral action. We, therefore, not only rely on the support of neighbouring countries, but we look to the UN to continue to play a pivotal role in supporting peace and security at all levels, including with respect to the proliferation of conventional weapons.

The growing geopolitical challenges and risk of global economic instability are of concern. The situation is especially worrisome for small developing countries like ourselves that are already susceptible to external shocks. Instability and insecurity affect foreign direct investment and have implications for GDP growth, revenue, employment and public spending.

MOBILISE INCREASED CAPITAL

Yesterday’s High-Level Dialogue on Financing for Development, as well as the High-Level Summit on the SDGs, remind us of the pressing need for us to mobilise increased capital. Sustained progress is not achievable without the requisite quantity and quality of public and private investment, to close the financing gap for climate action and SDG implementation.

It is for this reason that Jamaica and Canada continue to spearhead initiatives through the UN Group of Friends of SDG Financing and continue working with partners such as Denmark in closing the Investment Gap Initiative to attract greater investment in sustainable infrastructure.

Jamaica also welcomes India’s offer to establish and host a Coalition of Disaster-Resilient Infrastructure to provide a framework to ensure that all future infrastructure is resilient in the face of disasters.

We encourage coordination and cohesion among the efforts now emerging so that the strongest impact may result from our efforts.

I am also compelled to reiterate the special challenges faced by highly indebted middle-income countries (HIMIC) like Jamaica and our Caribbean neighbours. Although poised for economic transition, our potential is seriously constrained by having to choose between high external debt repayment and catalytic growth spending.

Furthermore, the current policies that govern access to concessional financing windows do not allow us to access sufficient affordable long-term financing for SDG investment and our capacity to mobilise public resources domestically is limited by our small size and vulnerability. This touches on the issue of graduation criteria, which do not take account of the range of vulnerabilities facing middle income countries.

Our economies face further challenges from derisking and the attendant problem of the loss of correspondent banking relations that severely impede access to essential financial services.

In the context of our special vulnerabilities, my delegation welcomes the mid-term review of the [Small Island Developing States Accelerated Modalities of Action (SAMOA)] Pathway, which presents an opportunity to further operationalise the mandate of the SAMOA Pathway. Jamaica is committed to this process and looks forward to the full support of the international community in this regard.

I am pleased to advise this assembly that Jamaica successfully implemented, on January 1, a ban on the importation, manufacture or distribution of single-use plastic bags, expanded polystyrene and plastic drinking straws. The ban has served to sensitise the general public to the environmental challenges posed by non-biodegradable litter, especially those that end up in our oceans. We are considering expanding the ban, even as we prioritise strengthening our waste-management processes.

This year, we will also launch a national tree planting initiative through which we will plant more than three million trees in three years, representing one tree for each Jamaican.

We remain committed to the reduction of the erosion of watersheds and the attendant impact on coastal ecosystems. We are partnering with others to ensure that our marine environment, on which our socio-economic survival depends, is being sustainably utilised and managed. The High Level Panel on the Sustainable Ocean Economy, convened by Prime Minister Solberg, and its resulting call-to-action and report[s] on the oceans as a tool for combating climate change, enjoy the full support of Jamaica. We look forward to the convening of the Ocean Conferences next month in Norway, and in Portugal in June 2020.

That brings me to the single most visible threat facing the global environment, which is climate change. Its effects are intensifying, with coastal cities and low-lying island nations facing the greatest risk. The recent devastation wrought by Hurricane Dorian in The Bahamas reinforces this reality. We are deeply saddened by the tragic loss of lives and extensive damage to property, infrastructure and livelihoods, occasioned by this climate disaster.

Jamaica and other Caribbean islands have first-hand experience of the increase in intensity of hurricanes, as well as intermittent increased rainfall and extended periods of droughts. These adverse weather events have resulted in major economic losses and dislocation across the region.

Jamaica has adopted several policies and legislative measures to reduce our vulnerability to natural hazards and to adapt to the impacts of climate change. This includes the development of a comprehensive and first of its kind Public Financial Disaster Risk Management policy with provisions for financial risk protection, including budgetary contingency funds and state contingent debt instruments.

Email feedback to columns@gleanerjm.com.