Search Result for: debt payment

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St Vincent and the Grenadines to Receive $6.4M IMF Disbursement

Above: St Vincent (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has approved a $6.4 million disbursement to St Vincent and the Grenadines, the organization announced Friday. The funding will be drawn from a Rapid […]

Caribbean Needs $30 Billion to Modernize Infrastructure in Next Decade

Above: Caribbean Development Bank President Dr Warren Smith (CJ Photo) By the Caribbean Journal staff The Caribbean region needs some $30 billion USD to modernize its infrastructure over the next decade, according to Caribbean Development Bank President Dr Warren Smith. […]

Puerto Rico Governor Approves New Issue of General Obligation Bonds

Above: San Juan (CJ Photo) By the Caribbean Journal staff Puerto Rico Governor Alejandro Garcia Padilla has signed legislation authorizing the issuance of new general obligation bonds. The bonds will be used to “refinance outstanding lines of credit and meet […]

Puerto Rico Rating Downgraded to Junk Status By Standard and Poor’s

Above: San Juan (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has lowered its rating on the government of Puerto Rico’s general obligation debt to junk status, the New York-based ratings firm announced Tuesday. The firm lowered Puerto […]

Political Independence and Economic Development in the Caribbean

By Paul Hay CJ Contributor In 2003, Alvin G. Wint – former head of the Department of Management Studies at the University of West Indies, Mona Campus – noted in his book, “Competitiveness in Small Developing Economies: Insights from the […]

Jamaica’s Big Risk

By Dennis Chung CJ Contributor WHILE walking, or cycling, I often see people who ask me many questions relating to the economy, finances, or issues about my second book. In the last few weeks, though, I notice that the majority […]

S&P Affirms Rating on Puerto Rico; Outlook Remains Negative

Above: San Juan (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has affirmed its “BBB-” rating on the Commonwealth of Puerto Rico’s general obligation and appropriation debt, the New York-based ratings firm announced on Wednesday. The rating reflected […]

Haiti Prime Minister Laurent Lamothe Concludes Trip to Venezuela

Above: Haiti PM Laurent Lamothe and Agriculture Minister Thomas Jacques following their return from Venezuela By the Caribbean Journal staff Haiti Prime Minister Laurent Lamothe made a one-day visit to Venezuela on Monday for talks on Haiti’s participation in the […]

S&P Raises Jamaica Credit Rating

Above: Kingston By the Caribbean Journal staff Standard & Poor’s has raised its long-term foreign and local currency sovereign credit ratings on Jamaica, citing “progress in stabilizing the economy” and the country’s agreement with the International Monetary Fund. The rating, […]

In Jamaica, a Reminder on Climate Change

Above: Jamaica By the Caribbean Journal staff Climate change poses perhaps the greatest threat to the future of the Caribbean, and Jamaican Environment Minister Robert Pickersgill says it’s time to increase climate change awareness. The impacts of climate change on […]

Jamaica’s Pillars for Growth

By Dennis Chung CJ Contributor MY last article looked at how Jamaica can increase competitiveness in the tourism industry, which is critical for Jamaica because tourism is our highest foreign exchange earner, and the area in which we have always […]

The Future of PetroCaribe

By Michael W Edghill CJ Contributor At the end of June, leaders from around the Caribbean region met in Nicaragua for the 8th PetroCaribe Summit. Created with the largesse of Hugo Chavez, the cornerstone of PetroCaribe has been the discounted […]

Antigua Completes IMF Programme

Above: downtown St John’s (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has completed its 10th and final review of Antigua and Barbuda’s performance under its Stand-By Arrangement. The IMF will now disburse $25.4 million […]

New Turks and Caicos Chief Financial Officer Assumes Post

Above: the Turks and Caicos House of Assembly By the Caribbean Journal staff Stephen Turnbull has officially taken up the position of Chief Financial Officer of the Turks and Caicos Islands, the Governor’s office announced. Turnbull, who succeeds former CFO […]

Bureaucracy and Jamaican Growth

By Dennis Chung CJ Contributor FINALLY WE CAN celebrate that we have an IMF agreement again in Jamaica. The real importance of the agreement is that it will bring with it a certain amount of confidence and multilateral support for […]

Op-Ed: Why Venezuela Ought to Reconsider Its Withdrawal From ICSID

By Alexander G Leventhal Op-Ed Contributor IN JANUARY OF 2012, Venezuela announced that it would withdraw from the ICSID convention, a 1966 treaty that established an arbitration and conciliation institution based in Washington, DC to deal with international investment disputes. […]

Grenada, Kuwait Fund Reach Agreement

Above: Grenada (CJ Photo) By the Caribbean Journal staff The Kuwait Fund has agreed to lift a suspension imposed on Grenada, the Grenadian government announced Thursday. The agreement, reached following negotiations led by Works Minister Gregory Bowen, paves the way […]

Solving Jamaica’s Foreign Exchange Crisis

By Dennis Chung CJ Contributor OVER THE LAST WEEK there have been two issues dominating the media in Jamaica, which illustrates to me that Jamaica’s foreign exchange crisis is driven primarily by the way we approach challenges. The first is […]

S&P Downgrades Grenada Credit Rating

Above: Grenada (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has lowered its foreign and local currency sovereign credit ratings on Grenada to “SD” from “CCC+/C,” citing the announcement that the country would not pay its coupon due […]

Dennis Chung: Jamaica’s Survival Under the International Monetary Fund

By Dennis Chung CJ Contributor AT THE END of December 2012, when it became clear no International Monetary Fund (IMF) deal was coming, I wrote an article titled “Jamaica without the IMF,” as I felt that it was important to […]

Op-Ed: Solar Energy and the Caribbean’s Economic Future

By Paul Hay Op-Ed Contributor According to the Energy Policy and Sector Analysis in the Caribbean (2010 – 2011), the “Caribbean islands have the potential to lead the world to a new energy future.” Research on this paper was the […]

Gender-Responsive Budgets in Jamaica

By Marcia Forbes, PhD CJ Contributor A Solid WROC With the talk at every level of Jamaican society being about the IMF and the critical role the coming relationship with this institution will play in the country’s future, it […]

Fitch Lowers Jamaica Outlook to Negative

Above: Kingston (CJ Photo) By the Caribbean Journal staff Fitch has lowered Jamaica’s outlook to negative, although the firm affirmed its B- credit rating on the country, it announced Friday. The revision to negative reflects “Jamaica’s rising financing constraints in […]

Op-Ed: The IMF, Chavez, and Jamaica’s Economic Future

By David Rowe Op-Ed Contributor FOR THE LAST 12 MONTHS, Jamaica has been in intermittent negotiations with the IMF. These negotiations have not yet yielded a new agreement. It is now acknowledged internationally that Jamaica is in an economic crisis. […]

Chicago Tribune Editorial Calls Jamaica “Greece of the Western Hemisphere”

Above: Kingston (CJ Photo) By the Caribbean Journal staff Jamaica is the “Greece of the Western Hemisphere,” according to an editorial published Tuesday by the Chicago Tribune newspaper. The editorial, subtitled “The Greece of the Western Hemisphere,” said that while […]

PM: Belize Set to Finalize Superbond Deal

Above: Parliament in Belmopan By the Caribbean Journal staff Belize will officially sign an agreement on the restructuring of its large commercial debt in the early part of this month, Prime Minister Dean Barrow said in his first national address […]

Jamaica’s Phillips: Negotiations With IMF Technical Staff “Virtually At An End”

The following is a statement from Jamaica Finance Minister Dr Peter Phillips concerning the country’s negotiations with the International Monetary Fund: On assuming office, one of the most urgent priorities of this administration was to reopen the line of communication […]

Op-Ed: Jamaica and Wall Street

By David Rowe Op-Ed Contributor THE FACT THAT Barbados’ government bonds have been downgraded to junk status was not a good development for the reputation of the Commonwealth Caribbean in international financial markets. Both Moody’s and Standard and Poors now […]

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