Jubilee Caribbean (JCaribbean) is a nonprofit organisation, currently based in Grenada, which seeks to effectuate changes leading to enhanced fiscal policies and smarter efforts to counter the effects of climate change on Small Island Developing States (SIDS).
Jubilee Caribbean was born from the dire economic situation in which many Caribbean countries found themselves at the time. Currently, the majority of the English-Speaking Caribbean countries are over the debt to GDP ratio recommended by the Eastern Caribbean Central Bank. The only country, so far, to have achieved the .60:1 ratio (or below) is St. Kitts and Nevis, as of 2018.
The purpose of the Jubilee Caribbean’s movement is to advocate, on behalf of the countries, for favourable terms in debt repayment and for a moratorium in the event of natural disasters above a pre-determined level. Consistent with the Biblical concept of Jubilee, JCaribbean especially focuses on debt forgiveness for countries with vulnerabilities to natural disasters and adverse effects of climate change as well as other major economic hardships endemic to Small Island Developing States (SIDS). Some of the main tasks of the organisation are to hold creditors accountable; encourage governments to put policies in place to maintain an appropriate debt to GDP ratio and to ensure consideration is given by creditors to the economic vulnerabilities of small island states who contribute least to but are affected most by the effects of climate change.