Bernal. I will take the first shot on this one since I simply ended up a week ago, 8 years on the board of directors of the Inter-American Advancement Bank. I can ensure you that the Inter-American Advancement Bank in specific has been extremely active and has actually offered considerable assistance across a series Take a look at the site here of sectors (How to find the finance charge). I believe that our huge sibling, the World Bank, has actually contributed, but I would venture to suggest that there is scope for a lot more resources to be put into the region. The problem here is that the Caribbean is classified as middle income, developed nations and are therefore excluded from specific concessional facilities and are not always seen as a concern when it comes to poverty relief.
Often it is one sector, tourist, and for that reason while they are middle income they are susceptible and need ongoing assistance. The U.S., I believe, has a crucial function in advising the advancement organizations to continue to contribute in the Caribbean. Mr. Farnsworth. Simply a wesley financial services fast coda to that also. We have talked a little bit about the debt overhang that affects the Caribbean therefore there is a prospective future function, possibly not too far in the future, in regards to the global banks maybe the IMF too to really help work through some of those debt concerns in a meaningful and long lasting method.
Mr. Duncan. We have time for a couple of more questions. I thought it was going to be simply the ranking member and myself. I am thankful we had such active involvement. I am happy you appeared. Brazil is worried about tourist with regard to the Olympics. And tourist being such a huge part of the Caribbean nations' economy and a big part of the U.S. tourism headed there-- Zika. It has got to be on their minds. I think I am worried about how much U.S. support will make it to the Caribbean countries and whether Zika is even an issue on the island nations themselves and what impact that might have on tourism, or anticipated results.
Eric? Mr. Farnsworth. It is very much on the minds of the hemisphere community. You referenced Brazil and I think that is definitely appropriate. Although, in Brazil today it is the winter season and the mosquito population in the winter season tends to go down, and so at least we hear from the Olympic organizers that Zika won't be as much of a concern throughout this existing time of the Olympics, et cetera. However look, Zika is a concern throughout the area and undoubtedly here in the United States too. As I discuss in my ready comments, it appears to me that this could be an easy win for the United States if we desire to put it in those terms.
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All of us have an extremely genuine incentive to get rid of it as quick and as rapidly and as thoroughly as possible. So there is a great deal of good research going on in the United States and other places. Once the vaccine or the best approach to address Zika steps forward, why not, dealing with the Caribbean partners and others in the hemisphere have a very substantial public health initiative that impacts individuals where they live? I imply, this is the type of thing, these are the types of lessons we are learning that are really efficient from other countries when they do it whether it is Venezuela, whether it is China, whether it is other countries because this is what individuals require.
Ms. Yearwood (What is a note in finance). The Caribbean Hotel & Tourist Association, the Caribbean Tourism Company, the Caribbean Public Health Firm, and the Pan American Health Organization are all totally associated with trying to handle the Zika crisis not simply at the worldwide level however also at the tourist level. People about timeshares recognize Zika as a particular concern that could affect the economy of the whole area and so they are really cognizant and pursuing attempting to consist of the threats and handling the vector management, et cetera. I believe to Eric's point, the ability of those agencies to have higher involvement by the U.S.
Mr. Bernal. Mr. Chairman, if you will allow me. Zika is an issue in itself, but it raises a much wider issue which is hemispheric and worldwide pandemics. There are a lot of people moving the area from the U.S., Canada, from the Caribbean-- a number of million a year-- that it is an interest of typical and shared value that we attempt to fight these pandemics. Early intervention is crucial. The minute-- we require to have a fast-acting reaction to the possibility of pandemics. We know, for example, that way back in the '60s when there was a break out of polio in Jamaica that for a reasonably percentage of expenditure on preventive measures, vaccines, we might have avoided a major human catastrophe.
It remains in our shared interest. What does ltm mean in finance. These are problems which are not nationwide or perhaps local. They are international, and the only way to tackle them is by efficient cooperation. In passing, let me say that the debt situation is such that it is beginning to constrain the governments and their ability to do health and education which has long term adverse repercussions for development. If we might resolve the financial obligation, and maybe one of the locations to look at is to generate foundations and advancement representatives to take a look at debt-for-health swaps in which some of the financial obligation can be relieved and that money be taken into preventive health care.
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Duncan. Thank you for that. I would be remiss if I didn't mention Haiti and Dominican Republic, and ask-- I will let you ask the question if you would like. Mr. Meeks. I would be remiss if I didn't ask about Haiti and the Dominican Republic. Mr. Duncan. So migration, economy, situation in Haiti with the federal government, if you all just wish to discuss that. Ms. Yearwood. That is opening a rabbit hole, however there are a lot of possible ways to go at this question. Haiti remains in a particularly interesting situation. As I discussed I was there for 13 years.
And whether it is with the Parliament or the government, criminal activity is on the rise. Spending plan sensible, we understand the U.S. and European Union are not going to be offering cash towards elections. Last I heard, there was no cash in the Haitian spending plan for elections, so somehow they need to find 55 million to get to a set of elections that no one is certain, you understand, if it can happen and if it will occur because of the deadlock on the ground there. Which of the following approaches is most suitable for auditing the finance and investment cycle?. How to finance a franchise with no money. That of course has consequences on the DR-Haiti migration issue. If Haiti continues to slide downhill, it is going to be hard pushed for any person to be able to stop the flight of migrants either to the Dominican Republic, the Bahamas, Turks and Caicos, Jamaica, and obviously Florida and the United States.