31 October 2001

OAS and IDB Speak Out on the Impact of September 11

Cesar Gaviria, secretary general of the Organization of American States (OAS), and Enrique Iglesias, president of the Inter-American Development Bank (IDB), are urgently calling "for support by the Inter-American community for those countries that have suffered economic consequences arising from the terrorist attacks of September 11, especially the countries of the Caribbean and Central America," the OAS said in a press release issued October 31.

During a special session of the OAS Permanent Council that same day, Gaviria stressed the importance of "projects aimed at stabilizing the situation, and reversing economic recession and unemployment in the region" and the "need to target resources to help reinforce security measures at airports to revitalize the tourism industry in small countries, which have been severely affected by the [September 11] attacks" on New York and Washington.

Following is the text of the press release:

Organization of American States
www.oas.org
Press Release
October 31, 2001

THE OAS AND THE IDB SPEAK OUT ON THE IMPACT OF SEPTEMBER 11

Organization of American States (OAS) Secretary General Cesar Gaviria and Inter-American Development Bank (IDB) President Enrique Iglesias today issued an urgent call for support by the Inter-American community for those countries that have suffered economic consequences arising from the terrorist attacks of September 11, especially the countries of the Caribbean and Central America.

In a Special Session of the Permanent Council, Gaviria called on the OAS' Development Agency (The Inter-American Agency for Cooperation and Development -- IACD) to establish new mechanisms for special support, and on the Tourism Unit and other OAS offices to focus support for projects aimed at stabilizing the situation, and reversing economic recession and unemployment in the region.

Gaviria underscored the importance of "... making good use of the experience of the Inter-American Commission Drug Abuse Control Commission (CICAD), which has developed effective mechanisms against illegal money transfers as a means to address the problem of money-laundering as part of the war against terrorism."

Gaviria pointed out the urgent need to target resources to help reinforce security measures at airports to revitalize the tourism industry in small countries, which have been severely affected by the attacks of September 11.

IDB President Enrique Iglesias presented an economic snapshot of the hemisphere, and said, "... In addition to feeling the initial impact, we now have an important response by the United States government to reverse the negative impact of the events of September 11 ..." He added that the "International Monetary Fund is looking at a recovery in the second half of 2002 and anticipates growth rates of 2 percent, which would be very good news that would have an impact on our countries."