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 in the country.
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 Institutional Development Fund (IDF).
The creation of a regional centre of excellence in financial services is being touted as the way forward if the region is to face the challenges and volatility of the global world of financial services.
This is the view of the Minister for Financial Services here, Ryan Pinder, who told delegates attending the 3rd Caribbean Conference on the International Financial Services Sector hosted jointly with The Caribbean Export Development Agency, that the Caribbean must commit to developing a platform of education and training regionally.
CASTRIES, St. Lucia CMC - The World Bank will make an additional US$36 million available to St Lucia and St. Vincent and the Grenadines to assist with recovery efforts following the passage of a lethal weather system on Christmas Eve.
Just days ahead of the 2014/2015 budget presentation, Prime Minister Kenny Anthony on Thursday welcomed the assistance, noting that while normalcy has been restored in some parts, there is still a lot to be done.
“I am indeed pleased that the World Bank has agreed to give further assistance to Saint Lucia.
GEORGETOWN, Guyana, Chronicle - Passing the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) act is critical to the future well-being of Guyana and to all Guyanese. Guyana has an international obligation to enact legislation, which is constitutional; harmonized with the laws of other member countries in its group; able to pass peer review by those countries; and in accord with the Caribbean Financial Action Task Force (CFATF) guidelines (which in turn are based on guidelines issued by their parent body, the FATF based in Paris).
GEORGETOWN, Guyana, Chronicle - THE stability and strength of any financial system are an indispensable prerequisite for the overall health and well-being of an economy, says Finance Minister, Dr. Ashni Singh, and the current Administration has spared no effort in safeguarding the integrity of local financial systems.
KINGSTON, Jamaica, CMC - The International Monetary Fund’s (IMF), resident representative to Jamaica, Bert Van Selm, says despite a front loaded adjustment programme, the economy has seen some growth over the first year of the programme.
Van Selm, made the comment in an address to persons attending a Financial Services Commission seminar here on Wednesday.
He asserted that Jamaica's economic reform programme is off to a strong start and for the rest of the programme period; there will be no need for further fiscal tightening, but that of staying on course.
PORT OF SPAIN, Trinidad and Tobago, Guardian - Data from the National Agricultural Marketing and Development Corporation (Namdevco) indicates an increase in the availability of selected agricultural commodities at the Norris Deonarine Northern Wholesale Market (NDNWM) for the period July to December 2013, the Central Bank of T&T said in its latest Economic Bulletin. Among the major locally produced food crops, larger quantities of sweet potato, cassava, cabbage and sweet pepper were available for sale, when compared with the same period a year earlier.
ST. GEORGE’S, Grenada, CMC – Grenada owes the Barbados-based Regional Security System (RSS) six million EC dollars (One EC dollar = US$0.37 cents) in arrears, according to a government statement issued here.
It said the figure was outlined to Prime Minister Dr. Keith Mitchell when he attended last week’s RSS ministerial meeting in Barbados. The statement blamed the previous Tillman Thomas administration for making any payment to the RSS over the four and half years it served in government.
(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) Heads of Government of 14 Member States and two Associate Members will gather in St Vincent and Grenadines on Monday at the 25th Intersessional Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM). Suriname’s President, His Excellency Desiree Bouterse, who is the current President of the Union of South American Nations (UNASUR) will be attending the inauguration of President Michelle Bachelet in Chile on Tuesday. Suriname will be represented at Ministerial level.