Home' Trinidad and Tobago Guardian : September 8th 2015 Contents A17
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nance officials from the
world s leading economies
said global growth has fallen
short of their expectations
but they remained confi-
dent that the global eco-
nomic recovery would gain
Ending a two-day sum-
mit in the Turkish capital
Ankara, finance ministers
and central bank governors
from the Group of 20 lead-
ing economies promised to
take "decisive action" to
keep economic recovery on
track. The meeting was held
at a time of heightened un-
certainty over the global
economy triggered by slow
growth in China, increased
market volatility and con-
cern over a looming US in-
terest rate increase.
Turkey s Deputy Prime
Minister Cevdet Yilmaz told
reporters at the end of the
meeting that G-20 mem-
bers were reassured China
would continue to grow and
achieve a 7 per cent rate.
"There is a general opin-
ion that growth will con-
tinue with a rate of around 7
per cent," Yilmaz said.
"This is something that
will appease concerns to a
certain extent." (AP)
GEORGETOWN, GUYANA---The Guyana
government has defended the decision
to purchase oil from T&T saying it
believes it has a responsibility and obli-
gation to ensure there will be no short-
age of fuel in the country.
"It is the Government s commitment
to ensure that there is a reliable and
regular supply of fuel, to drive industry
in this country, and we as a government
will do what is necessary in the public
interest, to ensure that the wheels of
industry continue to turn," said the Min-
ister of State, Joseph Harmon, as he
explained the background regarding the
agreement to purchase fuel from T&T.
Harmon said Cabinet had been briefed
on the matter by the Minister of Public
Infrastructure, David Patterson.
Guyana has been purchasing fuel from
Venezuela under the PetroCaribe
arrangement, but there have been occa-
sions when shipments arrived late.
"A few weeks ago, the vessels that
had gone to Venezuela to collect fuel,
they were not provided with the fuel
on time, and this type of on and off
arrangement, we have to ensure that
we have an alternative arrangement put
in place, to ensure that this will not
lead to a shortage of fuel in Guyana,"
"We have both arrangements in place,
a standby arrangement, which we will
utilise from Trinidad and Tobago, and
the PetroCaribe arrangement, which is
in place by contract," he said.
Questioned on the feasibility of the
new arrangement, Harmon said: "We
do not see or feel that this arrangement
will put in jeopardy any of the users of
petrol/fuel in the country; in fact, it is
feasible, the terms are very favourable
for us and I believe that we have a com-
mitment from that country for the sup-
ply of petrol.
"The financial arrangement is no less
favourable than that which we receive
under the PetroCaribe agreement."
He said T&T is aware of Guyana s
arrangement with Venezuela through
the PetroCaribe agreement. In the event
there is a shortfall or a problem with
that agreement, the Trinidad facility
will be there to cushion the effect.
The Caribbean Natural Resources Institute (Canari) is implementing a Food and Agriculture
Organisation of the United Nations (FAO) funded research project to examine the linkages between
social protection, natural resource management, women and overall people's empowerment and
poverty alleviation in fisheries and forestry communities in the islands of T&T and St Vincent and
the Grenadines. The livelihoods of small scale fisherfolk and forest-users in the Caribbean are highly
vulnerable, due to the high exposure to risks such as resource depletion, climate change, as well as
their limited assets to adapt to these risks. The project seeks to evaluate how social protection and
poverty reduction policies and related initiatives are affecting fisherfolk and forest users in terms
of building resilience of their livelihoods. In photo, organic jewelry made from bamboo, calabash,
coconut and cedar from the Caura forest.
purchase of oil
G-20 nations confident global recovery will gain speed
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