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Max says farewell to troops
PORT OF SPAIN, Trinidad – GEORGE Maxwell Richards completed his decade-long tour of duty as the country's Commander-in-Chief with a final walk in front of his troops in a public ceremony held around the Queen's Park Savannah in Port of Spain yesterday. Richards, 81, a former principal of the University of the West Indies, St Augustine campus, became the country's…
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St. Lucia company secures grant for regional projects
CASTRIES, St. Lucia CMC – A St. Lucia owned company Cellestial has been awarded an EC$1.3 million (US$500,000) grant to pursue innovative projects in the region. The company was selected from among thousands of applicants that were shortlisted to 7 finalists and then finally to winner status following months of investigation, heavy competition and deliberation. Regional Communications Ltd., Cellestial’s parent…
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Finance Minister to present budget next Monday
GEORGETOWN, Guyana, CMC – Finance Minister Dr. Ashni Singh will on Monday March 25 present the national budget to the National Assembly. Singh said that the focus of the Donald Ramotar government will be to continue with the acceleration of economic growth and social development, with emphasis on macroeconomic stability and preserving the conditions that are conducive to attracting investment,…
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We must protect our nations
KINGSTON, Jamaica – HAS anybody noticed how unelected bodies like the International Monetary Fund, the European Union, the United Nations, World Bank and others are encroaching on the Legislative Agenda of some nations of the world? These organisations are able to determine what legislations are established, by tying their support, grants and loans to us, passing certain laws whether we…
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Major credit rating agency says Grenada default has negative implications for ECCU
NEW YORK, CMC – A major international credit rating agency says the liquidity crisis leading to Grenada’ default on its US and Eastern Caribbean (EC) dollar bonds is “credit negative” for the country and elevates the risk of distress spilling over to member countries in the Eastern Caribbean Currency Union (ECCU). The newly-elected Dr. Keith Mitchell administration in Grenada said…
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Billions expected from the Caribbean’s first gold refinery
PARAMARIBO, Suriname, CMC- The Government of Suriname has embarked on a joint venture with the Kaloti Group of Dubai to establish the first gold refinery in the Caribbean. The refinery that is being built near the village of Wit Santi, close to the country’s International Airport, is expected to start operating by next year and produce as much as US$2.77…
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Germany to fund Climate adaptation programme in four countries
BELMOPAN, Belize, CMC – The Caribbean Community Climate Change Centre (CCCCC) and the German Financial Cooperation (KfW) have signed a programme geared towards reducing the risks of climate change on the Caribbean’s coastal population. The approximately six year Ecosystem-Based Approaches for Climate Change Adaptation in Coastal Zones of Small Island Developing States in the Caribbean (EBACC) programme, which is slated…
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IDB outlines strategy for economic growth in Latin America and the Caribbean
PANAMA CITY, Panama, CMC – The Inter-American Development Bank (IDB) says world growth is likely to be suppressed below potential for several years to come, but Latin America and the Caribbean can escape this global outlook and boost growth significantly by adopting appropriate structural reforms. In its annual macroeconomic report, titled “Rethinking Reforms,” the Washington-based financial institution which is holding…
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China to provide US$2 billion for Caribbean Co-financing Fund
WASHINGTON, Mar.17, CMC – The Inter-American Development Bank (IDB) along with the People's Bank of China (PBC) have approved the China Co-financing Fund for Latin America and the Caribbean to support public and private sector projects that promote sustainable economic growth in the region. The IDB said the fund, the first of its kind established by China and a multilateral…
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