News
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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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A Worsening Haitian Tragedy
The aid group Doctors Without Borders said last Tuesday that the cholera crisis in Haiti was getting worse, for the most unnecessary and appalling of reasons: a lack of money and basic medical supplies. The disease has killed 8,000 people and sickened 649,000 since October 2010. International efforts to defeat the epidemic include a 10-year, $2.2 billion plan for major…
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Caribbean Airlines records major losses in 2012
PORT OF SPAIN, Trinidad, CMC – The state-owned Caribbean Airlines (CAL) recorded losses estimated at US$70 million last year, Finance Minister Larry Howai has said. He told the Senate on Tuesday that the figure does not include the US$40 million in fuel subsidy to the airline even though he insists that the airline remains solvent. “Government has made certain provisions…
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Meet Venezuela’s new political boss
There’s a new political boss in Venezuela. So far, he’s acting just like the old boss. Hugo Chávez was purportedly still in his death throes last week when his designated political heir, eager to snatch the reins of power before anyone could stop him, signaled that he was just as capable of playing the anti-American card as the dying president…
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The legacy of Hugo Chávez
GEORGETOWN, Guyana – For the sake of continuing warmth in the bilateral relationship between Guyana and Venezuela, the Government of Guyana has made all the right diplomatic moves. President Donald Ramotar led the delegation to Hugo Chávez’s state funeral last Friday, declaring a day of national mourning on the same day, and an evening of reflection to honour the late…
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UN hails Chávez
UNITED NATIONS, CMC – The United Nations on Wednesday, lauded the commitment Hugo Chávez to the cause of social justice in the Caribbean, as the General Assembly paid tribute to the memory of the late President of Venezuela. Chávez, a socialist firebrand, died on March 5 after struggling with cancer for almost two years. UN Secretary-General Ban Ki-moon said Chávez…
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EU ANGER – Workers protest against austerity measures
BRUSSELS, Belgium (AP) — Some 10,000 workers from across the European Union protested outside a summit of EU leaders yesterday, demanding they end years of austerity and focus instead on curbing runaway unemployment with more spending. The protest in frost and snow just outside EU headquarters vented frustration over spending cuts and tax hikes imposed by the bloc's governments to…
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