Guyana supports Multidimensional Vulnerability Index to aid SIDS – President Ali
(Department of Public Information Press Release) His Excellency Dr. Irfaan Ali on Friday said that Guyana fully supports the development of the Multidimensional Vulnerability Index (MVI) to aid Small Island Developing States (SIDS), since the current system of using GDP per capita is inadequate.
“We are long past the stage of recognising the inadequacies and shortcomings of using a single limited metric, such as GDP per capita as a measure of development status, and needs. The international community recognises the inherent, archaic and often perverse results that arise from the use of the single measure to determine a country’s eligibility for development support.”
His Excellency Dr. Irfaan Ali, President of Guyana
He gave his support via video message at a high-level side event on the UN Secretary-General’s report regarding the MVI for SIDS.
The Head of State pointed out that even some of the world’s largest, advanced, diverse and resilient economies have been struggling to cope with the fallout from the COVID-19 pandemic. This fallout, he said, has had a worse effect on SIDS in the Caribbean and the Pacific that are dependent on tourism and other affected sectors for their Gross Domestic Product (GDP), export earnings and employment.
“SIDS had to contend with a pandemic that has pushed public health systems to the brink, and that has brought entire economies to standstill.”
Read more at: Department of Public Information
Source: CARICOM TODAY