Antigua and Barbuda
The Antigua and Barbuda government has dismissed as “false and misleading” claims that the country is behind in its multi-million dollar loan payments to China for the air and seaports.
Prime Minister Gaston Browne said that his administration remains current on all its financial obligations to the Export-Import Bank of China (China Eximbank) and denied suggestions that the country risks losing control of key infrastructure due to loan defaults.
“I observe that members of the (opposition) UPP (United Progressive Party)….would have put in the public domain false information to the extent that we are delinquent with our Chinese loan and we are now at risk of losing the seaport.
“I wish to state categorically that these claims are a figment of the opposition’s imagination. We are totally up to date with all of our loans (payments) with the Chinese Exim Bank,” Browne told legislators.
In February 2024, Browne described China as one of the country’s most important development partners and dismissed absurd claims that China has a history of colonizing countries.
Bermuda
Premier David Burt has defended his decision to delay the national budget presentation to Parliament until May 2, dismissing the concerns raised by the main opposition One Bermuda Alliance (OBA) as “sour grapes.”
Burt said the postponement of the budget presentation was discussed with the Leader of the Opposition, Jarion Richardson before the information was released publicly.
“Either there is a serious communication breakdown within the OBA, or they are deliberately misleading the public, Burt said, adding that he would advise the OBA to “get your own house in order before you continue to lash out in what is clearly being perceived as sour grapes after being soundly defeated at the polls.”
In a statement, shadow finance minister Dr. Douglas De Couto complained that some opposition legislators only learned about the new Throne Speech and budget dates in the media.
De Couto said there were concerns before the Feb. 18 election that the vote timing would delay the annual budget.
The opposition spokesman on finance said that the OBA will monitor how the new government contends with a planned increase in public sector workers’ pay, funds the hospital and long-term pension provisions, and handles the corporate income tax.
De Couto said that although the budget presentation is two months away, “we look forward to seeing the government’s revised funding plans.”
Grenada
The Leader of the main opposition, New National Party (NNP), Emmalin Pierre, was sworn in recently as the new Opposition Leader in Parliament after the incumbent and former prime minister, Dr. Keith Mitchell, informed Grenadians that he was stepping down from the post.
Pierre took over the leadership of the NNP last year after Mitchell stepped down after 30 years in the position. She was sworn in by Governor General Dame Cecile La Grenade, accompanied by opposition colleagues Kate Lewis Peters and Dr. Clarice Modeste-Curwen.
In a message posted on her Facebook page, Pierre apologized to her family and close relatives for her inability to notify them before her appointment. “My apologies to my family, close friends and supporters. I was presented this morning with my instrument of appointment as Leader of His Majesty’s Opposition. Since I had no prior notice, I was unable to notify or invite you to the ceremony. Thank you, sister Kate and sister Clarice, who were there and shared the moment with me,” she said.
Pierre and two other opposition legislators had been summoned to a meeting by the Governor General, and following that meeting, she presented the instrument of appointment and sworn them into office.
Mitchell, who became Opposition Leader after the June 2022 general election, said that Pierre, the first NNP female leader, will have his support, reiterating his confidence in her ability “to lead with strength, empathy and deep love for the people of Grenada, Carriacou, and Petite Martinique.”
Jamaica
The World Bank is providing US$192 million to help Jamaica promote its private sector development and improve disaster preparedness.
The Sustainable and Resilient Recovery Development Policy financing includes a unique option allowing Jamaica to access funds in a disaster quickly.
“Bolstering growth prospects, building resilience against natural hazards, and protecting the most vulnerable, measures supported by this financing, are key priorities for Jamaica,” said World Bank country director for the Caribbean, Lilia Burunciuc.
“They are also essential steps to allow the country to attract more foreign investment, boost private sector growth to create jobs and improve the quality of life of its people,” Burunciuc added.
The project is financed by the International Bank for Reconstruction and Development, an arm of the World Bank that provides financial assistance and policy advice to middle-income countries and creditworthy poorer countries. It supports development projects that aim to reduce poverty and foster sustainable growth.
Of the total sum, US$150 million is provided as budget support, and US$42 million is allotted to the Catastrophe Deferred Drawdown Option.
A grant from the European Union Resilient Caribbean (EU ReCA) program will finance technical assistance to support the implementation of disaster risk management reforms under the second pillar.
St. Lucia
The International Monetary Fund (IMF) says stronger than expected growth in tourism and construction could positively boost the St. Lucia economy.
A statement issued following the IMF executive board appraisal of St. Lucia said that it agreed with the thrust of the staff appraisal and welcomed St Lucia’s strong economic performance, aided by robust tourist arrivals and a supportive fiscal stance.
According to the staff appraisal, St. Lucia’s tourism-dependent economy has normalized after the coronavirus (COVID-19) pandemic. Gross domestic product (GDP) growth is expected at 3.7% in 2024, based on strong tourism, construction, and manufacturing activity.
It said that unemployment has dropped but remains elevated at 14% and that inflation, which peaked at 6.4% year on year in 2022, fell to 0.8% in June, driven by utilities and energy prices and a value-added tax (VAT) reduction.
In its appraisal, the IMF executive board noted the favorable near-term prospects. However, the directors highlighted that medium-term growth is expected to slow, and risks are tilted to the downside, including investment delays and high tourism dependence. Prudent policies and reforms should aim to reduce debt, increase productivity, and boost potential growth.
St. Vincent and the Grenadines
St. Vincent and the Grenadines (SVG) prime minister Dr. Ralph Gonsalves defended the Cuban health brigade program after the United States announced it intends to revoke the visas of foreign government officials whose countries employ Cuban doctors and nurses.
“Maybe some people in Florida who’re pushing a line don’t quite understand what is taking place, and when they get the information, they’ll see that they’re mistaken,” Gonsalves said on NBC radio.
US Secretary of State Marco Rubio said Washington was announcing “the expansion of an existing Cuba-related visa restriction policy that targets forced labor linked to the Cuban labor export program.”
“This expanded policy applies to current or former Cuban government officials, and other individuals, including foreign government officials, who are believed to be responsible for, or involved in, the Cuban labor export program, particularly Cuba’s overseas medical missions.”
Rubio said the new policy also applied to the immediate families of those people supporting the Cuban program.
“The department has already taken steps to impose visa restrictions on several individuals, including Venezuelans, under this expanded policy,“ he added.
But Gonsalves told radio listeners that CARICOM foreign ministers met on the issue, “and they’ve decided to collate all the relevant information. They are going to treat the issue regionally and hope to have a meeting sometime in the not-too-distant future at an appropriate level with the American government.“
Gonsalves added that while the SVG did not have a significant number of Cuban medical personnel, the Cuban professionals were paid the rate it did for its professionals.
— Compiled by Devika Ragoonanan
