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The de-risking of the correspondent banking relationships are very crucial to the Caribbean due to the fact that global monetary banks have been critical not just to domestic economy however in its link to the global economy. Some services have currently been choked off and there should be a way for us to find an initiative that integrates the security objectives which we sign up for, and likewise at the exact same time, allow monetary intermediation such as trade funding, transfers of revenues, debt payments, et cetera, to continue. Finally, security. The little states of the Caribbean find it really difficult to contend with multinational criminal activity connected to narcotics trafficking, worldwide terrorism, cybersecurity, et cetera.

has actually done an outstanding job in supporting these nations, but I think there is room to do more in the interest of our shared security. Security nowadays can only be defined as international and can only be responded to by cooperation among countries. Furthermore, in the trade location there are some excellent legislation in location for trade. However, a lot of the Caribbean nations are now service oriented nations and we require to take a look at possibilities for promoting shared and helpful value chains which integrate U.S. and Caribbean in services such as healthcare, education, and back office support. I believe by integrating the abilities on Capitol Hill with a few of the human resources in the Caribbean, these companies can remain competitive both here and in the U.S - How to finance a second home.

The Caribbean countries are coastal societies. Facilities, economic activity, population, the structure environment are all focused on a narrow strip on the coast, even for those countries which are not islands, for instance, Belize and Guyana. It means that they are amongst the most susceptible nations to environment modification. More resources require to be provided in a more available method to mitigate environment modification and to assist these nations in surviving. And I point especially to the traveler industry which is critically depending on the quality of that immediate coastal strip. Finally, energy (How to finance a second home). The Caribbean, bar the exceptions of Trinidad and Tobago, depend heavily on importation of energy.

Solar, wind, and thermal all have possibilities, and to move the production of electricity which is among the greatest expense on the planet onto energy in more economical sources. That would serve to restore an entire series of economic activity, including manufacturing. What happened to yahoo finance portfolios. And I conclude, Mr. Chairman, by stating that all of these are interrelated aspects that need to be dealt with. If we could resolve them in one overall effort led by the U.S. and involving the advancement of financial organizations, I think that they enhance each other and it is time for a brand-new bold initiative in U.S. policy towards the Caribbean.

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[The prepared declaration of Mr. Bernal follows:] [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] ---------- Mr. Duncan. Well, thank you a lot for making the effort to be here. Mr. Meeks has actually concurred we are going to skip over him and go to the previous chairman of the complete committee, Ms. Ros- Lehtinen, for 5 minutes. Ms. Ros-Lehtinen. Thank you so quite and I excuse coming late. And we have floating timeshare another hearing which I am chairing on Syria, however thank you, Chairman Duncan and Ranking Member Sires, for holding this important hearing. And I do not think that we can go over U.S.

Venezuela developed Petrocaribe in 2005 to assist influence lots of nations in the hemisphere and up to this point the technique has worked. Nevertheless, now we see the can timeshare ruin your credit collapse of the Venezuelan economy because of the incompetence of the Maduro routine. So it provides the U.S. an opportunity to fill that void, and this is where we need the State Department and the Department of Energy to be incredibly focused on this effort right now due to the fact that it remains in our national security interest to coordinate an energy option; a technique so that fewer countries in the Western Hemisphere would depend on a really undependable Venezuela.

And I think that we have got to be working with our partners, our allies in the Caribbean to help them make the most of the plentiful and inexpensive gas and the brand-new advanced tidy wind and solar technologies offered. This method we reinforce our partners' economies, we buffer the region from the impacts of Venezuelan collapse and take sensible steps towards minimizing carbon emissions. So the crisis in Venezuela may trigger an oil supply interruption. What effect would such a disruption have on the Caribbean countries? Mr. Bernal. My associates are figured out to ensure I carry a reasonable share of the load.

Thank you for that. The relationship with Venezuela is a long and complex one. Venezuela started the Petrocaribe at a time when many Caribbean countries were truly very stretched financially and truly needed some help. Nevertheless, the relationship has its complexities. For instance, Venezuela declares a large share of Guyana which is a member of the CARICOM group. It help with timeshare also has extended its claims in regards to seaside waters based on an island practically 400 miles far from Venezuela and mainland, so that the relationship is not all the Caribbean benefiting from some monetary assistance. I believe we are at a point where the relationship is going to become very unforeseeable because of no one understands precisely what will happen in the Caribbean with Venezuela.

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Numerous Caribbean countries are believing beyond Petrocaribe because they do not assume that it will continue in its present form and they need to be thinking about alternatives. This produces a juncture in which new initiatives, including from the U.S - What credit score is needed to finance a car. in energy, would be extremely welcome in the area. Ms. Ros-Lehtinen. Thank you quite, Mr. Chairman and Ranking Member Sires. Thank you. Mr. Duncan. Well, thank you. Thanks for requiring time to run down here. The Chair will now go to Mr. Meeks. Mr. Meeks. Thank you, Mr. Chairman. And thank you for being here, and excellent to see all of you who, you understand, we trust quite with your knowledge and because the Caribbean is extremely important, I think.

It is actually, you understand when you look at our hemisphere and we have actually got to ensure that we reinforce and working together. And I hear my colleagues in concerns to especially Petrocaribe, but I think that the problems that are challenging a great deal of the islands-- and I notice, for instance, Mr. Ambassador, you noted as number six in order of priority the energy crisis, et cetera, in attempting to make certain. So I wish to look for out as it relates to the islands themselves the things that are most pressing with them that would help them overall with their economy, since I understand, for example, you can't just depend upon tourism or you can't simply rely on, you know, they have the diversification of it needs to be there.