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Caribbean finance ministers among Commonwealth group meeting with international lending agencies
WASHINGTON, CMC – St. Kitts and Nevis Prime Minister Dr. Denzil Douglas is leading a high-level group of Commonwealth ministers that is ending a two-day visit to Washington on Tuesday after holding discussions with representatives of leading international financial institutions on the issue of debt and financing challenges for developing countries. The delegation also includes Jamaica’s Finance Minister Dr. Peter…
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Four killed as US contracted counter-drug aircraft crashes in Caribbean
MIAMI, CMC – The United States Southern Command, which overseas US military operations in the Caribbean and Latin America, says a US-contracted detection and monitoring aircraft has crashed into the Caribbean Sea, killing four of its six crewmembers. The Southern Command, otherwise known as Southcom, said that the crash took place near the Colombia-Panama border, killing three Americans and a…
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Opposition Leader to appeal ruling against him
KINGSTOWN, St. Vincent, CMC – Opposition Leader, Arnhim Eustace, says he will contest the ruling of the Labour Department ordering him to pay his former secretary, Rishatha Nicholls, EC$16,199.99 (One EC dollar – US$0.37 cents) in severance pay by October 18. “We will appeal that process. We will go through that whole process,” he told the Caribbean Media Corporation (CMC).…
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IMF predicts modest growth in 2013
WASHINGTON, CMC – After registering “disappointing growth” in 2012, Trinidad and Tobago is poised for a modest recovery in 2013, the International Monetary Fund (IMF) has said. In a statement, the Washington said the economy is reviving and that maintenance-related outages would continue to hamper the energy sector. It said the non-energy sector should grow around 2.5 per cent and…
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Remittances almost triple development aid
KINGSTON, Jamaica – TORONTO, Canada (IDN) — A new report has highlighted the importance of funds remitted home by migrants, which are now nearly three times the size of official development assistance given by rich developed nations and larger than private debt and portfolio equity flows to developing countries. They exceed the foreign exchange reserves in at least 15 developing…
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