Golding wants stronger financial controls

KINGSTON, Jamaica: Prime Minister, Bruce Golding, is urging the Organization of American States (OAS) to support the call for stronger regulations of financial institutions that have an international reach.

“There is a need to rebuild global confidence. There must be synchronization of regulatory systems. It will be a tragedy if developing countries become more excluded from global decisions,” the Prime Minister said during a courtesy call from OAS Secretary General, José Miguel Insulza.

Golding also urged the Secretary General to represent the concerns of small nations in geopolitical summits.

“There needs to be greater participation (of small countries) in global fora,” Golding said. “We need to discuss the measures (being taken) now that will set the playing field for the next decade.”

Insulza told Golding that the first concern of the OAS was to ensure that people have jobs. He noted that it was a priority of the OAS to ensure that the Inter-American Development Bank (IDB) and regional banks receive funding so that they could continue lending for good solid projects.

The Secretary General assured the Prime Minister that plans for the Summit of the Americas, which will be held in Trinidad from April 17-19, are proceeding smoothly. He noted that the summit will not neglect important issues such as crime reduction and global warming.

On the matter of hemispheric security, Golding congratulated Insulza on the recent role the OAS played in reducing conflict in the region. (JIS)

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