Bernal. I will take the first shot on this one because I just completed a week Continue reading earlier, 8 years on the board of directors of the Inter-American Advancement Bank. I can assure you that the Inter-American Advancement Bank in specific has actually been really active and has actually supplied considerable support across a variety of sectors (Which one of the following occupations best fits into the corporate area of finance?). I think that our big brother, the World Bank, has contributed, however I would venture to suggest that there is scope for far more resources to be taken into the area. The issue here is that the Caribbean is categorized as middle income, established nations and are therefore excluded from particular concessional centers and are not always seen as a concern when it concerns poverty reduction.
Often it is one sector, tourist, and therefore while they are middle income they are susceptible wesley company and need continued support. The U.S., I think, has a vital function in urging the advancement organizations wesley financial group franklin tn to continue to contribute in the Caribbean. Mr. Farnsworth. Simply a quick coda to that too. We have actually talked a bit about the debt overhang that affects the Caribbean and so there is a prospective future role, maybe not too far in the future, in terms of the global banks maybe the IMF as well to truly assist overcome some of those financial obligation issues in a meaningful and long lasting method.
Mr. Duncan. We have time for a couple of more concerns. I thought it was going to be simply the ranking member and myself. I am happy we had such active involvement. I am happy you appeared. Brazil is worried about tourism with regard to the Olympics. And tourism being such a huge part of the Caribbean countries' economy and a big part of the U.S. tourist headed there-- Zika. It has actually got to be on their minds. I guess I am concerned about how much U.S. help will make it to the Caribbean countries and whether Zika is even a concern on the island nations themselves and what impact that may have on tourism, or anticipated impacts.
Eric? Mr. Farnsworth. It is quite on the minds of the hemisphere neighborhood. You referenced Brazil and I believe that is absolutely right. Although, in Brazil right now it is the winter and the mosquito population in the winter tends to decrease, therefore at least we hear from the Olympic organizers that Zika will not be as much of an issue during this existing time of the Olympics, et cetera. However look, Zika is an issue throughout the region and indeed here in the United States too. As I explain in my prepared remarks, it seems to me that this could be an easy win for the United States if we want to put it in those terms.
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All of us have a very genuine incentive to eliminate it as quick and as rapidly and as comprehensively as possible. So there is a lot of good research study going on in the United States and other locations. Once the vaccine or the ideal approach to deal with Zika steps forward, why not, dealing with the Caribbean partners and others in the hemisphere have an extremely substantial public health initiative that impacts people where they live? I suggest, this is the type of thing, these are the kinds of lessons we are learning that are really efficient from other nations when they do it whether it is Venezuela, whether it is China, whether it is other nations because this is what individuals require.
Ms. Yearwood (What is a future in finance). The Caribbean Hotel & Tourist Association, the Caribbean Tourist Company, the Caribbean Public Health Company, and the Pan American Health Organization are all thoroughly associated with attempting to handle the Zika crisis not simply at the global level however also at the tourism level. Individuals recognize Zika as a singular problem that could impact the economy of the entire area and so they are really cognizant and pursuing attempting to include the dangers and handling the vector management, et cetera. I believe to Eric's point, the capability of those agencies to have higher involvement by the U.S.
Mr. Bernal. Mr. Chairman, if you will permit me. Zika is a problem in itself, however it raises a much more comprehensive issue which is hemispheric and worldwide pandemics. There are a lot of individuals moving the area from the U.S., Canada, from the Caribbean-- several million a year-- that it is an interest of common and mutual value that we try to combat these pandemics. Early intervention is vital. The minute-- we need to have a fast-acting response to the possibility of pandemics. We understand, for example, that method back in the '60s when there was an outbreak of polio in Jamaica that for a relatively percentage of expense on preventive procedures, vaccines, we might have avoided a major human disaster.
It remains in our shared interest. How long can you finance a used car. These are problems which are not nationwide or perhaps regional. They are global, and the only method to tackle them is by effective cooperation. In passing, let me say that the debt scenario is such that it is starting to constrain the federal governments and their ability to do health and education which has long term unfavorable repercussions for development. If we might resolve the financial obligation, and maybe among the areas to take a look at is to bring in structures and advancement representatives to take a look at debt-for-health swaps in which a few of the debt can be reduced and that cash 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 concern 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, scenario in Haiti with the government, if you all just wish to touch on that. Ms. Yearwood. That is opening a bunny hole, but there are a lot of possible ways to address this question. Haiti is in an especially intriguing circumstance. As I mentioned I was there for 13 years.
And whether it is with the Parliament or the government, criminal activity is on the increase. Budget sensible, we understand the U.S. and European Union are not going to be supplying cash towards elections. Last I heard, there was no money in the Haitian spending plan for elections, so somehow they require to discover 55 million to get to a set of elections that no one is certain, you understand, if it can occur and if it will occur since of the impasse on the ground there. What does finance a car mean. Why are you interested in finance. That naturally has repercussions on the DR-Haiti migration concern. If Haiti continues to move downhill, it is going to be difficult pressed for anybody 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.