News
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PIOJ optimistic about economic growth in Jamaica
KINGSTON, Jamaica, CMC – The Planning Institute of Jamaica (PIOJ) is predicting that the island’s economy could experience as much as one per cent economic growth this fiscal year based on the implementation of several key multi-billion dollar projects. PIOJ Director General, Colin Bullock, said these developments include the J$2.5 billion (One Jamaica dollar = US$0.01 cents) Major Infrastructure Development…
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http://cananewsonline.com/news/full-news/business-news/88979-caribbean-economy-oecs-oecs-to-benefit-from-us-20-million-idb-loan.html
ST. GEORGE’S, Grenada, CMC – Caribbean governments should seek far reaching agreements with creditors when pursuing debt restructuring instead of accommodating short term measures that will eventually have to be re-negotiated before feeling the positive impact. Jurgen Kaiser, a coordinator and research fellow at the German Debt Network, says “the conditions for these agreements should be deep and all encompassing,…
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OECS to benefit from US$20 million IDB loan
WASHINGTON, CMC – The Inter-American Development Bank (IDB) has signed an agreement for US$20 million for a Global Loan Program with the Caribbean Development Bank (CDB) for projects in four Organization of Eastern Caribbean States (OECS) countries. The CDB will lend the funds for the financing of public sector projects in Dominica, Grenada, St. Lucia and St. Vincent and the…
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IDB supports sustainable energy for rural electrification in Haiti
WASHINGTON, CMC – The Inter-American Development Bank (IDB) says it will support a US$3 million technical cooperation project to help the government of Haiti test different renewable energy solutions with the goal of expanding rural electrification. The Washington-based financial institution said Haiti has the lowest level of electrification in the Americas, and n the countryside, over 70 percent of the…
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Human rights group claims prosecution of Caribbean migrants hurting families
WASHINGTON, CMC – A major international human rights group says the skyrocketing criminal prosecutions of Caribbean and other migrants for illegally entering or reentering the United States carry huge human and financial costs. In a report released here on Wednesday, Human Rights Watch said imprisoning migrants with minor or no criminal records before deporting them often affects people seeking to…
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PPM on track to form Government
GEORGE TOWN, Cayman Islands, CMC – As the counting of ballots from Wednesday’s General Election continues, the latest results have revealed that the opposition People’s Progressive Movement (PPM) is just one seat short of a majority required for the to form a ruling government. The PPM took four out of six Legislative Assembly seats in George Town, the Cayman Islands’…
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Economists respond to Dookeran on new plan for regionalism
PORT OF SPAIN, Trinidad – Despite the economic hardships Caribbean countries face, it is important that regional countries work together to overcome the difficulties, said Dr Dillon Alleyne, economic affairs officer and deputy director, Economic Commission for Latin America and the Caribbean (Eclac). “The Caribbean economies are at a crossroad and the global system of production and distribution has changed…
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Three held in multi-million dollar cocaine bust in Caribbean Sea
MIAMI, United States (CMC) — United States federal prosecutors have indicted three foreigners in a US$27 million cocaine bust in the Caribbean Sea. They said Beat Jegge of Switzerland and Daniel Velazquez and Julio Claro Alvarez of Colombia were arrested by US Coast Guard officers after their suspicious boat was interdicted somewhere off the Panama coast. Authorities said the men…
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