Bernal. I will take the very first shot on this one due to the fact that I simply completed a week earlier, 8 years on the board of directors of the Inter-American Development Bank. I can ensure you that the Inter-American Advancement Bank in specific has actually been really active and has supplied substantial assistance throughout a variety of sectors (How to finance a home addition). I believe that our huge bro, the World Bank, has contributed, however I would venture to recommend that there is scope for far more resources to be put into the region. The problem here is that the Caribbean is classified as middle income, established countries and are for that reason excluded from specific concessional facilities and are not necessarily seen as a priority when it comes to hardship relief.
Often it is one sector, tourist, and therefore while they are timeshare buyers remorse middle income they are vulnerable and require continued support. The U.S., I think, has an important function in prompting the advancement institutions to continue to play a function in the Caribbean. Mr. Farnsworth. Just a quick coda to that too. We have talked a little bit about the debt overhang that impacts the Caribbean therefore there is a prospective future function, possibly not too far in the future, in terms of the worldwide banks maybe the IMF too to really assist overcome a few of those debt problems in a meaningful and lasting way.
Mr. Duncan. We have time for a couple of more concerns. I believed it was going to be simply the ranking member and chuck wesley myself. I am delighted 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 big part of the Caribbean countries' 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 just how much U.S. help will make it to the Caribbean countries and whether Zika is even an issue on the island countries themselves and what result that might have on tourist, or expected effects.
Eric? Mr. Farnsworth. It is quite on the minds of the hemisphere community. You referenced Brazil and I think that is absolutely appropriate. Although, in Brazil right now it is the winter and the mosquito population in the winter season tends to go down, therefore at least we hear from the Olympic organizers that Zika will not be as much of a problem throughout this existing time of the Olympics, et cetera. However look, Zika is a problem across the region 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 wish to put it in those terms.
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We all have a really real reward to eliminate it as fast and as rapidly here and as comprehensively as possible. So there is a great deal of great research going on in the United States and other locations. When the vaccine or the right method to resolve Zika comes forward, why not, dealing with the Caribbean partners and others in the hemisphere have a very significant public health initiative that affects people where they live? I imply, this is the type of thing, these are the kinds of lessons we are finding out that are really effective from other countries when they do it whether it is Venezuela, whether it is China, whether it is other nations because this is what people need.
Ms. Yearwood (What was the reconstruction finance corporation). The Caribbean Hotel & Tourism Association, the Caribbean Tourism Company, the Caribbean Public Health Company, and the Pan American Health Company are all totally associated with attempting to deal with the Zika crisis not simply at the global level however also at the tourist level. People acknowledge Zika as a singular problem that could affect the economy of the whole area and so they are really cognizant and working toward trying to include the dangers and dealing with the vector management, et cetera. I believe to Eric's point, the ability of those companies to have higher participation by the U.S.
Mr. Bernal. Mr. Chairman, if you will permit me. Zika is an issue in itself, but it raises a much broader problem which is hemispheric and worldwide pandemics. There are many people walking around the region from the U.S., Canada, from the Caribbean-- numerous million a year-- that it is an interest of common and mutual importance that we attempt to fight these pandemics. Early intervention is critical. The moment-- we require 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 reasonably percentage of expense on preventive measures, vaccines, we might have avoided a major human disaster.
It remains in our shared interest. What does ear stand for in finance. These are issues which are not nationwide and even regional. They are worldwide, and the only method to tackle them is by efficient cooperation. In passing, let me say that the financial obligation situation is such that it is starting to constrain the governments and their capability to do health and education which has long term negative consequences for advancement. If we might deal with the debt, and perhaps one of the locations to take a look at is to generate structures and development agents to look at debt-for-health swaps in which some of the financial obligation can be minimized and that money be put into preventive health care.
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Duncan. Thank you for that. I would be remiss if I didn't point out 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 inquire about Haiti and the Dominican Republic. Mr. Duncan. So migration, economy, circumstance in Haiti with the federal government, if you all just desire to touch on that. Ms. Yearwood. That is opening a rabbit hole, however there are a great deal of possible methods to go at this question. Haiti is in an especially fascinating 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. Budget plan wise, we understand the U.S. and European Union are not going to be offering money toward elections. Last I heard, there was no cash in the Haitian spending plan for elections, so in some way they need to discover 55 million to get to a set of elections that nobody is specific, you know, if it can happen and if it will occur due to the fact that of the deadlock on the ground there. What are the two ways government can finance a budget deficit?. Which of the following approaches is most suitable for auditing the finance and investment cycle?. That of course has repercussions on the DR-Haiti migration problem. If Haiti continues to move downhill, it is going to be tough pressed for any person to be able to stop the flight of migrants either to the Dominican Republic, the Bahamas, Turks and Caicos, Jamaica, and of course Florida and the United States.
