CARIBBEAN ROUNDUP
ANTIGUA
Antigua and Barbuda is seeking forgiveness
of more than US$100 million
owed to the Paris Club, an informal
group of creditor nations whose objective
is to find workable solutions to payment
problems faced by debtor nations.
The Paris Club has
19 permanent members,
including most
of the western European
and Scandinavian
countries, the United States, the United
Kingdom and Japan.
Prime Minister Gaston Browne told
the weekly cabinet meeting last week
that the coronavirus (COVID-19) will
have a serious impact on the socio-economic
future of the region, especially
among tourist dependent crisis.
A statement issued after the cabinet
meeting, noted that Browne had
informed that Antigua and Barbuda is
continuing to seek forgiveness of debt
and that “the Paris Club is owed about
US$150,000 and this is the opportune
time for the country to press for forgiveness.”
BARBADOS
Caribbean Community (CARICOM)
leaders met last week in Barbados to
consider proposals for a common public
health policy and a common border policy
as they seek ways to limit the spread
of the coronavirus (COVID-19).
Barbados Prime
Minister and Chairman
of CARICOM,
Mia Mottley gave no
in-depth details of the
meeting, which was held virtually and
came after regional governments have
implemented several initiatives, including
lockdown of their borders, curfews
and social distancing.
In a Facebook message, Mottley said,
“we discussed the regional response to
COVID-19. We receive an update from
CARPHA (Trinidad-based Caribbean
Public Health Agency), an economic
analysis on the impact of COVID-19
on regional economies from the CDB
(Barbados-based Caribbean Development
Bank) and we considered proposals
for a common policy and a common
border policy.”
CARIBBEAN
The European Union (EU) is providing
a grant of eight million euros to
help the Caribbean fight the coronavirus
outbreak.
In a statement the EU said the funds
will be used to purchase COVID-19 test
kits, masks and other personal protective
equipment, testing reagents, and
other material required for coronavirus
testing.
It will increase the capacity of regional
countries to carry out laboratory testing
Caribbean L 4 ife, April 24-30, 2020
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Barbados Prime Minister, Mia Mottley chaired a virtual meeting of CARICOM offi cials to discuss a common
publich health policy. Photo by George Alleyne
for COVID-19, support coronavirus
quarantine and isolation procedures, as
well as contract tracing.
The EU added that
its assistance will also
support laboratory
testing and epidemiology
training, strengthen
surveillance at ports of entry and
support and promote the use of COVID-
19 guidelines and protocols among
health professionals.
The grant will be implemented by
the Caribbean Public Health Agency
(CARPHA) and is expected to improve
the detection, surveillance, prevention,
control and response to the COVID-19
pandemic.
In addition, it will finance treatment
and vaccines when they become
available and allow CARPHA to hire
three additional laboratory technologists
to deal with the anticipated surge
in demand for testing of new and existing
equipment.
GUYANA
Guyana is expected to see an overall
economic growth of 5.1 percent for this
year, with further projections for the
next two years.
The World Bank, in its recent semiannual
report of the Latin America and
Caribbean region, titled “The Economy
in the Time of COVID-19,” said the
South American country will in 2021
and 2022, see and 8.7 percent and 2.6
percent GDP (gross domestic product)
growth, respectively.
The report stated
Guyana’s economy had
expanded by some 4.7
percent in 2019, with
anticipated oil revenues
spurring expansion in non-traded
sectors.
It said oil production is projected to
boost the country’s GDP growth to an
unprecedented level this year.
The report said, however, while this
could transform Guyana, there are risks
as illustrated by a “still incomplete
election outcome and compounded by
falling oil prices and the COVID-19
epidemic.”
GRENADA
Grenada’s Prime Minister, Dr. Keith
Mitchell has got a commitment from
the Grenada’s Bankers Association
(GBA) to reopen banks to provide limited
services to the public during the
state of emergency.
It is reported that
the prime minister
initiated the meeting
with executive members
of the association
to discuss the resumption of banking
hours.
The discussions ended with an agreement
that banks will open on Thursday
and Friday of the week, from 9 am to
1 pm.
At the end of the meeting, the prime
minister commended the banking sector
representatives for recognizing the
need to provide this much needed service
.T
he procedure to give effect to this
service requires the Cabinet to advise
the acting police commissioner of the
need to grant and exemption to the
bankers to operate as provided for in
Section 5 (1) of the Emergency Powers
(COVID-19) regulations.
The Bankers Association has given
the assurance that senior citizens and
special needs persons, including pregnant
women, will be given preferential
treatment throughout the opening
hours on Thursday and Friday.
TRINIDAD
Venezuela-based Development Bank
of Latin America, also known as CAF,
has approved US$50 million to Trinidad
and Tobago to mitigate the COVID-19
health crisis in the country.
In a statement last
week, CAF said the
US$50 million in loan
aims to strengthen
T&T’s capacity to
respond to and prevent the crisis caused
by COVID-19, through direct financial
resources and the recognition of
expenses and investments aimed at
reducing risk or mitigating the impact
of the pandemic in the health of the
population.
THE NEWS FROM BACK HOME
Barbados chairs virtual meeting
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