debt

Grenada Reaches Deal to Restructure Taiwanese Debt

 Above: Grenada (CJ Photo) By the Caribbean Journal staff The government of Grenada says it has reached a “comprehensive” agreement to restructure its debt to the Export-Import Bank of Taiwan. The agreement reduces the principal outstanding on the $36.6 million …

Russia Writing Off $32 Billion of Cuba’s Outstanding Debt

 Above: Russian Federation President Vladimir Putin lays a wreath at the memorial of national hero Jose Marti in Havana (Photo: GC) By the Caribbean Journal staff Russia is writing off about $32 billion of Cuba’s outstanding debt, the two countries …

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 …

LATEST NEWS

 Above: Grenada By the Caribbean Journal staff Grenada expects “significant reductions” in both the size of the country’s debt and its debt payments, Prime Minister Dr Keith Mitchell announced this week. Mitchell made the announcement in New York following a …

 By Zhivargo S. LaingOp-Ed Contributor WHILE GOVERNMENT DEBT remains worrisome for many Caribbean and Latin American countries, socio-economic depth may be the more serious worry for sustainable growth and development in the future. Socio-economic depth here refers to the level …

 Above: Grenada (CJ Photo) By the Caribbean Journal staff Grenada’s government will undertake a “comprehensive and collaborative restructuring of its public debt, it announced this weekend. The government said “circumstances have forced” the move, which will include its US and …

 Above: Kingston (CJ Photo) By the Caribbean Journal staff Following a similar move by Fitch last week, Standard & Poor’s has raised Jamaica’s foreign and local currency sovereign credit ratings to “CCC+” and out of default. The move came after …

 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 …

 By David RoweOp-Ed Contributor Shortly after the election of the People’s National Party Government in Jamaica, I reminded in this Journal that Jamaica needed to drastically improve its murder rate and corruption index; without doing so, it was unlikely that …

 Above: Grenada (CJ Photo) By the Caribbean Journal staff Grenada’s economic outlook remains “stable,” according to ratings firm Standard & Poor’s, which affirmed its “B-” long-term foreign and local currency ratings on the country Tuesday. S&P also raised its short-term …

 By Kent GammonOp-Ed Contributor The state of the Jamaican economy over successive administrations tells the story of Jamaica’s evolving debt trap. The distinction that should be appreciated amongst successive administrations is how well each managed (or perhaps more appropriately mismanaged) …

 Above: Finance Minister Dr Peter Phillips By the Caribbean Journal staff Jamaica must develop comprehensive policies aimed at putting the country on the path toward reducing its debt burden, according to Finance Minister Dr Peter Phillips. Jamaica’s debt payments were, …

 Above: Prime Minister Dr Denzil Douglas (Photo: Erasmus Williams) By the Caribbean Journal staff St Kitts and Nevis Prime Minister Dr Denzil Douglas is calling the acceptance of an exchange offer to restructure the country’s external debt “a historic day …

 By Lincoln Depradine ST GEORGE’S – Government ministers in Grenada will take a 5 percent cut in pay starting next month, Finance Minister Nazim Burke has announced. He made the announcement Friday while presenting the country’s $378.9 million USD 2012 …

 Above: Charlestown, Nevis (CJ Photo) The government of St Kitts and Nevis is in advanced discussions with the Caribbean Development Bank on a comprehensive debt restructuring exercise. The two sides are discussing a partial guarantee from the CDB that would …

 By the Caribbean Journal staff Jamaican political and business leaders recently took center stage at a trade and investment forum at Bloomberg’s international headquarters in New York City, in an event coordinated by Dr Geneive Brown Metzger, Jamaica’s Consul General …

 By Alexander Britell Dr Michael Witter is an economist and senior lecturer at the Sir Arthur Lewis Institute of Social and Economic Studies at the University of the West Indies Mona. He is also one of the Caribbean’s experts on …