Guyana has called for a fairer money lending scheme that takes into consideration that some countries are more vulnerable to major disasters.

Guyana’s Finance Minister Dr. Ashni Singh, addressing the United Nations Economic and Social Council (ECOSOC) Forum on finance for development, said many countries have incurred significant debt through varied attempts at saving human lives and preventing further harm to their economy.

He said even as countries were preparing for a gradual return to a semblance of normalcy, the ongoing crisis has again brought “tragic human consequences” and “severe economic dislocation.”

Singh told the virtual and in-person conference that the ramification of these global crisis, including the Russian invasion of Ukraine, are “felt most sharply” by the most vulnerable – like Small Island Developing States (SIDS).