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Finance

St. Vincent PM says evidence against CDB former president is “flimsy”

by Peter Richards BRIDGETOWN, Barbados, May 6, CMC – St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves says “unsuccessful attempts” had been made to impugn the character of the former president of the Barbados-based Caribbean Development Bank (CDB) Dr. Hyginus “Gene “ Leon, whom he described as “a distinguished son of our Caribbean civilisation from St. Lucia”. Last ...

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Demerara Bank expands to St Lucia

One of Guyana’s indigenous banks, Demerara Bank Limited, has expanded its “footprint” to St Lucia where the laws allow financial institutions to focus on investment banking, according to Chairman of the DDL Group of Companies, Komal Samaroo. “We do have a subsidiary in St Lucia but that is for the purpose of investment and looking at opportunities in the region ...

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CARICOM Chairman should ask CDB Board of Governors for urgent meeting on action against bank’s President

BRIDGETOWN, Barbados, Apr 15, CMC – Former Montserrat premier Reuben Meade Monday said he found it “rather interesting” that subordinate body within the Barbados-based Caribbean Development Bank (CDB) had been able to send the president of the financial institution on administrative leave. “It is like the tail wagging the dog. As a matter of fact it is like fleas controlling ...

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Jagdeo chairs Caribbean development finance working group

Vice President Bharrat Jagdeo was Wednesday selected to chair a Caribbean Community (CARICOM) working group to search for more money for the CARICOM Development Fund (CDF) to cushion impacts on member nations and promote growth, Barbados’ Prime Minister Mia Mottley said. She told a news conference to wrap up the three-day summit of CARICOM leaders in Georgetown that Mr Jagdeo ...

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Guyana govt to ask for more info about situation at Caribbean Development Bank

The Guyana government would be seeking an official explanation from the Caribbean Development Bank (CDB) about what is going on at that Barbados-headquartered financial institution after news surfaced that a number of officials were sent on leave, Vice President Bharrat Jagdeo said Thursday. “We’re going to try to find out a bit more about what is going on and from ...

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Need for long-term planning, savings- UG Economist

Even as Guyana’s private sector is welcoming the GY$1.1 trillion dollar national budget, University of Guyana Economist Dr Thomas Singh sees the need for long term planning to guarantee growth while saving. While governments prefer to deliver annual programmes, he argued that Guyana could not achieve sustained economic growth by spending heavily on social and physical infrastructure on the basis ...

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Guyana set to manage public debt using Commonwealth software

A powerful software developed by the Commonwealth Secretariat is being rolled out in Guyana to transform how the country manages its public debt portfolio of US $3.9 billion, the Commonwealth said Wednesday. At the request of the Government of Guyana, a team from the Commonwealth Secretariat was in Georgetown, the capital city, from 16 to 27 October 2023 to train ...

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Caribbean media underperforming; “social justice” gap must be filled – CDB President

The President of the Caribbean Development Bank, Dr Hyginus ‘Gene’ Leon says media in the region are not performing effectively, for instance, in the areas of helping people to cope with natural disasters and address crime. “In small, vulnerable states, Caribbean media are particularly important to support relief and recovery efforts as well as disaster mitigation. But I fear the ...

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Guyana targeted to benefit from new EU project financing model

The European Union (EU) is providing a new model of infrastructure pr0ject financing to Guyana and other Caribbean and Latin American countries that will see the bloc continuing to provide grants with the expectation that international and regional financial institutions will inject massive amounts of cash for larger projects, EU Ambassador to Guyana René van Nes said Thursday. “This is ...

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OPINION: What will the PPP Gov’t do with access to information networks?

by GHK Lall I note with interest the development where Guyana has joined regional information sharing networks to facilitate going after financial criminals (Demerara Waves, December 11, 2022). On the face of it, this is good for Guyana, with many possible pluses. On the other hand, for those familiar with the real Guyana, the one below the surface glitter, this ...

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