(Jamaica Gleaner) Standard & Poor’s has downgraded Jamaica’s sovereign credit rating from B- to selective default in response to the Government’s debt exchange programme. Selective default occurs when a borrower elects to delay the repayment of some of its financial obligations while fully honouring others. Standard & Poor’s says it sees the move by Jamaica as a default of its debt.
News
GEORGETOWN, Guyana, Stabroek News - It is something of a truism of United States politics that a president makes his own foreign policy. Yet instances arise that project American secretaries of state into a position of obvious influence that induce the citizens of that country, as well as of other countries, to make a distinction between the thinking of the president and that of the secretary of state.
BRIDGETOWN, Barbados, Advocate - Minister of Transport and Works and Parliamentary Representative for Christ Church South, John Boyce, is of the belief that the town of Oistins could soon be a serious contender for the next UNESCO World Heritage Site in Barbados. Making these comments at the recent unveiling of a commemorative plaque to pay tribute to the fishermen who have lost their lives at sea, Boyce noted that the history of Oistins is very significant.
PARAMARIBO, Suriname, CMC – The Healthy Caribbean Coalition (HCC), a civil society alliance for combatting chronic diseases, has praised Suriname for its strong anti-tobacco legislation that outlaws smoking in public. “The HCC extends congratulations to the citizens of Suriname with the passing of the Anti-Tobacco Law by parliament on February 7. This is an important step in the fight against the ill-effects of tobacco and will have a positive impact on the health of the people of Suriname,” it said in a statement Tuesday.
BRIDGETOWN, Barbados, Nation News - When international financial institutions (IFIs) tell it like it is as they assess the problems/challenges confronting comparatively small and disadvantaged economies, there is a tendency for some governments to suggest external political considerations or prejudices.
KINGSTOWN, St. Vincent, CMC – Prime Minister Dr. Ralph Gonsalves Tuesday dismissed suggestions that he used insider information to get his family to withdraw funds financially troubled Building & Loan Association (BLA) and accused Opposition Leader Arnhim Eustace of engaging in “nasty politics.” “I did not utter a single word to them. Judge me not by your standard.
PROVIDENCIALES, Turks and Caicos, CMC – Voters in the Cheshire Hall and Richmond Hills constituency will elect a new parliamentary representative on February 22 in a by-election that could possibly result in a change of government in the Turks and Caicos Islands (TCI). Following the November 1 elections last year, the Progressive National Party (PNP) held a one seat majority over the Peoples Democratic Movement (PDM) but a court ruling last week, meant that both parties now held eight seats each in the Parliament.
PORT AU PRINCE, Haiti, CMC – Head of the Caribbean Community (CARICOM) Representation Office in Haiti, Ambassador Earl Huntley, says Haitians may have a valid case if they go before the Trinidad-based Caribbean Court of Justice (CCJ) challenging the need for a visa to visit member CARICOM countries. “In fact I suspect that if they were to the challenge this at the CCJ in terms of the treaty they could probably win it,” Huntley said.
KINGSTON, Jamaica, CMC – The International Monetary Fund (IMF) Tuesday said it would continue to work “assiduously” with the Jamaican authorities” on an economic programme that would help address the challenges caused by high debt and low growth. “Over the last three decades, the Jamaican economy has experienced very low economic growth, declining productivity, and reduced international competitiveness.
KINGSTON, Jamaica, CMC – Members of the opposition Jamaica Labour Party (JLP) walked out of Parliament during the debate on a J$15.9-billion (One Jamaica dollar = US$0.01 cents) tax package presented by government, less than 24 hours after it asked nationals to support stringent measures in order for the island to seal a multi-million dollar Stand By Agreement with the International Monetary Fund (IMF). Finance Minister Dr.