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Guyana receives shipment of fertiliser from Venezuela

GEORGETOWN, Guyana, CMC – The Guyana government said Monday it had received the first shipment of 5,000 tonnes of fertiliser from Venezuela under a revised agreement between the two countries.
Agriculture Minister Dr. Leslie Ramsammy said the agreement would significantly boost the agricultural sector, as it will address the cost of production for agricultural products.
Farmers have over the years been faced with the challenge of high prices for fertiliser, a constraint which affected not only their trade but the high price for agricultural commodities.

Four killed as US contracted counter-drug aircraft crashes in Caribbean

MIAMI, CMC - The United States Southern Command, which overseas US military operations in the Caribbean and Latin America, says a US-contracted detection and monitoring aircraft has crashed into the Caribbean Sea, killing four of its six crewmembers.
The Southern Command, otherwise known as Southcom, said that the crash took place near the Colombia-Panama border, killing three Americans and a Panamanian Air National Guardsman.
It said two Americans survived the crash, and were rescued by Colombian military forces and taken to a hospital in Bogota, the capital.

Cuba/Barbados mark anniversary of 1976 bombing of Cubana flight

BRIDGETOWN, Barbados, CMC – Barbados and Cuba have paid homage to the victims of the 1976 bombing of a Cubana Airlines jet off the coast of Barbados that killed all 73 people on board, lamenting the fact that the masterminds of the attack were never convicted.
Cuba’s Ambassador to Barbados, Mrs Lisette Perez Perez, told the wreath laying ceremony on Sunday that what happened to the Cubana passenger plane on October 6, 1976 was not an isolated incident.

IMF predicts modest growth in 2013

WASHINGTON, CMC – After registering “disappointing growth" in 2012, Trinidad and Tobago is poised for a modest recovery in 2013, the International Monetary Fund (IMF) has said.
In a statement, the Washington said the economy is reviving and that maintenance-related outages would continue to hamper the energy sector. It said the non-energy sector should grow around 2.5 per cent and core inflation remains moderate.
The IMF said it estimates considerable slack in the economy and that policy should support the economy in the short run.

Remittances almost triple development aid

KINGSTON, Jamaica - TORONTO, Canada (IDN) — A new report has highlighted the importance of funds remitted home by migrants, which are now nearly three times the size of official development assistance given by rich developed nations and larger than private debt and portfolio equity flows to developing countries.
They exceed the foreign exchange reserves in at least 15 developing countries, and are equivalent to at least half of the level of reserves in over 50 developing countries, says the latest issue of the World Bank's Migration and Development Brief.

European recovery gathering momentum

LONDON—While the US economic outlook has become murkier because of the partial shutdown of the government, the picture in Europe—so long the laggard of the global economy—has brightened. Another round of economic data yesterday provided evidence that Europe’s recovery from recession is becoming broad-based and self-sustaining.

Database launched to analyze impact of climate change on Caribbean coasts

SANTIAGO, Chile, CMC – The Economic Commission for Latin America and the Caribbean (ECLAC) has collaborated with the Spanish Ministry of Agriculture, Food and the Environment and the University of Cantabria in launching a database that would analyze the impact of climate change on Caribbean coasts.
On Wednesday, ECLAC said regional countries could improve coastal planning and develop preventive measures to adapt to the effects of climate change using the database.

Developing countries to receive over US$410 billion in remittances in 2013

WASHINGTON, CMC – The World Bank says remittances to the developing world, including the Caribbean, are expected to grow by 6.3 percent this year to US$414 billion.
In its revised estimates and forecasts, issued here on Wednesday, the World Bank also projected that remittances to the developing world will cross the half-trillion mark by 2016.
The bank said remittance volumes to developing countries, as a whole, are projected to “continue growing strongly over the medium term,” averaging an annual growth rate of 9 percent to reach US$540 billion in 2016.

Outside US, Ripple Effects Of Budget Battle Feared

Top European officials are keeping a worried eye on the United States (US) government shutdown, saying it could pose a risk for the continent's fledgling recovery.
The US has the world's largest economy and close business ties with Europe. So the shutdown, which has seen some 800,000 federal employees put on furlough, could hurt growth in the region if Congress does not agree on a new budget deal within days.

U.S. expels 3 Venezuelan diplomats amid growing political row

BOGOTA, Colombia -- Venezuela is protesting Washington’s decision to expel three of its diplomats in a tit-for-tat purge of embassy officials that has brought relations between the countries to a standstill.
The U.S. State Department announced that it was expelling Venezuela’s Chargé d’affaires Calixto Ortega, Second Secretary Mónica Sánchez and Venezuela’s Houston onsul Marisol Gutiérrez.

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