Barbados Prime Minister Mia Mottley is calling on Caribbean nations to support the Bridgetown Initiative, a proposal urging urgent and decisive reform of the international financial system.
Speaking Sunday night in the west coast village of Dublanc, Dominica, during the 70th anniversary celebration of the ruling Dominica Labor Party (DLP), Mottley—who also serves as chair of the 15-member Caribbean Community (CARICOM)—emphasized the need for deeper regional collaboration.
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“As we fight these battles—rising debt, cost-of-living increases we try to shield you from—it’s essential that Caribbean nations work more closely together,” she said.
Mottley highlighted how global supply chain disruptions have made previously standard practices, such as local utilities stocking spare parts, obsolete. “They no longer keep inventory sitting idle. Our whole understanding must change,” she explained. “We have to find common purpose and work together. If we are stronger together, we can achieve our goals together.”
She stressed the region’s collective struggle to secure better financing terms: “We can’t build schools and hospitals with 10- or 15-year money. It’s too short. When you buy a house, you borrow for 20 or 25 years. Governments should be no different. If we’re limited to 10-year terms, it chokes future development.”
The Bridgetown Initiative, led by Barbados, advocates a fairer global financial framework, especially in how wealthy countries support developing nations facing climate change. It includes six key areas for action and gained traction during the COP27 summit in Egypt, where a loss and damage fund was established.
“We need longer debt terms and cheaper debt so we can build sustainable societies where people want to stay,” Mottley added. “If our people feel hopeful at home, they won’t seek opportunities abroad. That’s why regional unity is essential.”
Her visit to Dominica sparked criticism from local opposition groups, including the Electoral Reform Coalition, who urged her to avoid partisan engagement while serving as CARICOM chair. Responding, Mottley said, “Leadership matters in today’s world—because without the right leadership, there will be confusion.” —CMC
