KINGSTON, Jamaica, CMC – Jamaica says it has narrowed its trade deficit by 0.3 per cent at the start of the year to US$401 million. The figure represents a US$1.2 million improvement over the corresponding period in January 2012. According to the figures released here, the island’s trade deficit with its Caribbean Community (CARICOM) partners fell by US$11.2 million or 18 per cent to US$51 million, down from US$62.2 million over the comparative period last year.
WASHINGTON, CMC – The International Monetary Fund (IMF) Wednesday said Antigua and Barbuda had successfully completed a multi-million dollar Stand By Agreement (SBA) despite “considerable challenges”. The IMF said the Baldwin Spencer government will receive an immediate disbursement of US$25.4 million following the last review of the SBA which will expire on June 6.
BRIDGETOWN, Barbados - We often say that tourism is our business and that is true since it is a major foreign exchange earner for our vulnerable open economy which needs foreign exchange to ensure its stability. Recent developments have, however, caused us some concern and the latest statistics do not give us any comfort. A recent panel discussion held at the St Michael West constituency branch of the Barbados Labour Party was one of the latest events which examined our tourism industry.
ST. JOHN’S, Antigua - Five years into the global financial crisis, the US and global economies remain mired in a weak-growth, low-inflation, high-unemployment environment. Debt busts such as 2008-09 are hard to exit from, and recoveries are long and painful. However, three complicating factors make the current environment even more challenging.
BRIDGETOWN, Barbados - LAST MONTH Africa’s 54 leaders celebrated the 50th anniversary of the founding of the Organization of African Unity (OAU) – it became the African Union (AU) in 2002 – which had its origins in the struggle for decolonization and against apartheid. It was founded in 1963 in Addis Ababa, Ethiopia, the venue chosen to mark the anniversary. Since it was founded, the AU has sought to push for peace and prosperity and to unite Africa. But opinion is divided on the success.
BELMOPAN, Belize, CMC - Junior Finance and Economic Development Minister Santiago Castillo Junior, has been hospitalised after he was seriously injured in a cycling incident. Castillo, affectionately known at Santino, is an avid cyclist who owns and manages his own cycling team and actively participates in cycling races as an elite rider.
BASSETERRE, St. Kitts, CMC – The former speaker of the Grenada parliament George McGuire says opposition legislators in St. Kitts-Nevis “played right into the hands of the Prime Minister” when they filed court action to force the Parliament to debate a motion of no confidence.
McGuire, speaking on Winn FM radio here, said that issues relating to the parliament should have been dealt with by the parliament itself rather than the courts and is urging the opposition legislators to seek a dialogue with the Speaker.
GEORGETOWN, Guyana, CMC – The Guyana government has hinted that the long awaited Local Government elections may not take place this year and is blaming the opposition grouping, A Partnership for National Unity (APNU) for deliberately delaying the process. The state-owned Chronicle newspaper Tuesday quoted Local Government Minister Ganga Persaud as saying that the work of the committee tasked with dealing with the legislative amendments is yet to be completed and that the time required by the Guyana Elections Commission (GECOM) would be inadequate to stage the elections this year.
BRIDGETOWN, Barbados - Prime Minister Freundel Stuart has described as “very fruitful” the discussions he had last Sunday with the President of the People’s Republic of China, Xi Jinping, in Port-of- Spain.
President Xi was on an official visit to Trinidad and Tobago over the weekend, where he held bilateral meetings with the Heads of Government of the Caribbean Community countries which have diplomatic relations with China.
PORT OF SPAIN, Trinidad - Ambassador Extraordinary and Plenipotentiary of Trinidad and Tobago to the Caribbean Community (CARICOM) sees no reason for concern over the recent visits by leaders of the two most powerful countries of the world to this region. Concerns have been raised in some quarters over the recent visits of US Vice- President Joe Biden and China’s President, Xi Jinping, and his promised US$3 billion loan to the region.