News

ST. GEORGE’S, Grenada, CMC – Observer teams from the London-based Commonwealth Secretariat and the Organisation of American States (OAS) have arrived here to monitor the February 19 general elections. A statement from the Ministry of Foreign Affairs said that a seven member team from the Caribbean Community (CARICOM) grouping is expected here on Wednesday. “The Commonwealth is pleased to lend its support to the people of Grenada as they exercise their democratic franchise in electing their leaders.

ST. GEORGE’S, Grenada, CMC – Less than a week before Grenadians go to the polls to elect a new government, four minority political parties have been told they would not be able to have their advertised symbols placed on the ballot paper. The parties – The Movement for Independent Candidates (MIC), National United Front (NUF), the People United Labour Party (PULP) and the Grenada United Patriotic Movement (GUPM) – say they have been told that this is due to the fact that the symbols had not been officially gazetted.

BRIDGETOWN, Barbados, CMC – Prime Minister Freundel Stuart has called on voters to reject the man seeking his job and ensure that the ruling Democratic Labour Party (DLP) is returned to power for another five year term on February 21. Stuart, addressing supporters in the St. Peter’s constituency on Monday night, said that Owen Arthur, the leader of the Barbados labour Party (BLP) and a former prime minister had “fallen very far short of the expectations of the people. “From 1984 until the year 2013 in the month of February, he had a chance to prove himself to the people of St. Peter.

WASHINGTON, CMC - The International Monetary Fund (IMF) is welcoming the “gradual recovery” of the Bahamas economy, supported by a rebound in tourism and ongoing investment projects. However, the Washington-based financial institution said unemployment remains high and that the economy faces “downside risks from an uncertain external environment, while fiscal and external imbalances have widened”.

BRIDGETOWN, Barbados, CMC – Caribbean Community (CARICOM) countries are being urged to review their visa regimes so as to lure more visitors to the region. The recommendation comes from the Caribbean Tourism Organization (CTO) Aviation Task Force, a highly focused committee established to facilitate air transportation into and throughout the Caribbean and to enhance airlift, following a meeting in Antigua to review issues affecting intra-regional travel and make recommendations for increasing consumer demand.

BRIDGETOWN—The Central Bank of Barbados says it has developed a new framework for granting licenses for prospective financial institutions seeking to operate here warning that it would reject any applicant if it determines that approval would not be in the public interest. The central bank said that the new framework is in furtherance of its responsibility to regulate and supervise licensees under the Financial Institutions Act (FIA) and the International Financial Service Act (IFSA).

KINGSTON, Jamaica, Observer - Two news stories we published this week have, for us, been particularly heart-warming and most encouraging. For they indicate to us that, amidst the challenges being faced by this country, and the attitude of many that we cannot do anything without an International Monetary Fund agreement, there are, among us, individuals who are engaged in constructive thought.

KINGSTON, Jamaica, Gleaner - The Center on Hemispheric Affairs (COHA) says the recent decision by the World Trade Organization (WTO) siding with Antigua and Barbuda against the United States in their online gambling dispute "presents a troubling scenario" for Washington. "If the United States claim that the world's 15th smallest economy is engaged in some form of economic bullying, attempting to force its hand in altering gambling laws by increased pressure from Hollywood lobbies, seems farcical, then so be it," said COHA, a Washington-based think tank.

KINGSTON, Jamaica, Observer - Prime Minister Portia Simpson Miller has confirmed that a second debt exchange programme will be implemented. In a joint national broadcast with the Finance Minister Dr Peter Phillips this evening, Simpson Miller said the programme called a National Debt Exchange Offer will be launched Tuesday morning. The debt exchange is part of measures that the Government is relying on to reduce the debt from the current 140 per cent of the Gross Domestic Product.

KINGSTON, Jamaica, Observer - Let us pull together, PM appeals to country FINANCIAL institutions and holders of domestic bonds will this morning be asked to take a haircut on interest for the second time in three years as the Government starts implementing measures critical to signing a funding arrangement with the International Monetary Fund (IMF).