Finance
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Guyana seeking options to enact anti-money legislation
GEORGETOWN, Guyana, Oct 1, CMC – The Guyana government says it is in the process of putting in place alternatives to address the technical deficiencies in its existing legal and financial legislative measures for the assessment of the Financial Action Task Force (FATF). Attorney General and Legal Affairs Minister Anil Nandlall, who led a delegation to Miami for talks with…
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Grenada, United States Come to Agreement on FATCA Law
Grenada and the United States have reached an inter-governmental agreement under the latter’s Foreign Account Tax Compliance Act, the Grenadian government announced Monday. Grenada’s government said it completed the negotiation of a model 1 inter-governmental agreement on June 16 to enable FATCA compliance. The agreement requires Grenadian financial institutions to submit information on US clients to the Inland Revenue Department…
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Jamaica to Tax Bank Withdrawals
amaica’s government is planning a new measure that would impose a levy on withdrawals from banks. Part of a revenue-raising scheme for a government that continues to be in a serious debt situation, the levy “will be chargeable on all withdrawals from deposit-taking institutions by way of electronic banking, point of sale transactions, cheques, automated banking machine (ABM), automated teller…
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Major economies express confidence about growth
WASHINGTON—Finance officials of the world’s major economies expressed confidence that they can meet an ambitious goal of boosting global growth by US$2 trillion over the next five years. That’s despite a variety of threats including rising political tensions over Russia’s actions in Ukraine. Finance ministers and central bank presidents of the leading rich and developing nations issued a joint statement…
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ST. LUCIA-ECONOMY-St. Lucia government concerned over high non-performing bank loans
CASTRIES, St. Lucia, CMC – Prime Minister Dr. Kenny Anthony says he is concerned about EC$150 million (One EC dollar = US$0.37 cents) in non-performing bank loans, vowing that the problem has to be resolved. “This is not an issue to be tackled by one country alone, but by all of us in the financial space that we occupy,” Anthony…
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IMF to decide on Grenada program in early May
ST GEORGE’S, Grenada (GIS) — The International Monetary Fund (IMF) wants to meet early next month to approve Grenada’s home grown structural adjustment program. The IMF official who will be chairing the meeting has asked Grenada’s permanent secretary in the ministry of finance, Timothy Antoine, to work with his team for a meeting in early May. Prime Minister Dr Keith…
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TRINIDAD-SECURITY-Government announces new unit to tackle crime
PORT OF SPAIN, Trinidad, CMC – The Trinidad and Tobago government has announced the establishment of a National Security Special Operations Group to deal with criminal activities in the country. But National Security Minister Gary Griffith made it clear that the new unit comprising, highly trained and specialised people capable of dealing with hostage negotiation, counter-terrorist activities and gang warfare,…
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ST. LUCIA-ECONOMY-Government introduces VAT on certain tourism services
CASTRIES, St. Lucia, CMC – As St. Lucians await the presentation of the 2014-15 national budget, providers within the tourism sector , will from this month, pay a 10 per cent Value Added Tax (VAT) on some services initially exempted from the fiscal measure. Government introduced the VAT in October 2012 and St Lucia became the last member state in…
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GUYANA-BUDGET-Opposition politicians critical of 2014-15 budget
GEORGETOWN, Guyana, CMC – Leaders of the two opposition parties in Parliament have criticised the GUY$220 billion (One Guyana dollar = US$0.004 cents) budget presented by Finance Minister Dr. Ashni Singh late last month. Opposition Leader David Granger described the fiscal package as having nothing for Guyanese nationals, saying it did not take into account the situation regarding the poor…
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CARIBBEAN-FINANCE-OECS countries benefit from World Bank-financed credit union project
WASHINGTON, CMC – The World Bank says the Organisation of Eastern Caribbean States (OECS) has benefitted from an initiative to strengthen accountability within the non-banking financial sector. It said with credit unions being “key players’ within the nine-member sub-regional grouping, the “Strengthening the Accountability of the Non-Bank Financial Sector in the OECS” has benefitted from a US$455,000 grant from its…
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