News
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Opposition wants more details on oil license given to US businessman
CASTRIES, St. Lucia, CMC – Opposition Leader Stephenson King has written to Governor General Dame Pearlette Louisy seeking clarification on an exclusive license granted to a United States businessman, Jack Grynberg, to carry out oil exploration in St. Lucia waters. King wants to know whether Dame Pearlette had issued the license in keeping with the provisions of the Minerals (Vesting)…
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Spanish oil firm signs new agreement
GEORGETOWN, Guyana, CMC –The Spanish oil exploration firm, REPSOL, Tuesday signed a new oil exploration concession offshore agreement with Guyana. President Donald Ramotar and REPSOL’s director, Jose A. Murillas signed the four year prospecting license for the 6,525 square kilometer concession located 100 miles seawards off the mouth of the Berbice River. The two sides also signed a production sharing…
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Guyana receives funds to develop gold mining sector
GEORGETOWN, Guyana, CMC – The World Wildlife Fund (WWF) is assisting Guyana in building capacity in environmental management of the gold mining sector. The WWF has provided a GUY$12 million (One Guyana Dollar = US$0.01 cents) cheque to the Ministry of Natural Resources and the Environment as part of a one- year project aimed at training miners and other stakeholders…
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St. Kitts-Nevis PM to chair Commonwealth group on debt
BASSETERRE, St. Kitts, CMC – Prime Minister Dr. Denzil Douglas will chair a Commonwealth high level mission on small states debt as developing countries to seek to deal with the impact of the global economic and financial crisis, Commonwealth Secretary Gerneral Kamalesh Sharma announced Tuesday. Sharma, who is ending a two-day visit to the twin-island Federation, told a news conference…
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Jamaica: Searching for economic stabilization
GEORGETOWN, Guyana – At the beginning of this month, the Executive Board of the International Monetary Fund (IMF) approved new funding arrangements to help stabilize the Jamaican economy and put it on a path to economic growth. The negotiation of the funds, a so-called Extended Fund Facility (EFF) up to US$923M has taken an extended period, lasting from the period…
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Study calls on regional governments to modernize tax system
WASHINGTON, CMC – A new study published here is urging Latin America and Caribbean governments to renew efforts to modernize their tax system. The study done by the Inter-American Development Bank (IDB) suggests that while Latin America and the Caribbean have made great strides in boosting tax collection in recent years, they need a new generation of fiscal and tax…
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LIAT to present summary of legal opinion to Trinidad PM
KINGSTOWN, St. Vincent, CMC – Shareholder governments of the regional airline, LIAT, have agreed to provide a summary of a legal opinion to Trinidad and Tobago Prime Minister Kamla Persad Bissessar regarding the “unfair” subsidy given to the state-owned Caribbean Airlines (CAL), Prime Minister Dr. Ralph Gonsalves said here Tuesday. Gonsalves told a news conference that while Barbados, Antigua and…
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