July 5, 2014
World Bank funds for Grenada
The Grenada government says the World Bank has approved a US$15 million disbursement for the island. It follows last week's approval by the International Monetary Fund (IMF) of a US$21.9 million structural adjustment programme. A government…
July 4, 2014
World Bank commits US$10.2 billion to boost Caribbean economic growth
The World Bank says it has committed US$10.2 billion this year to support Latin America and the Caribbean efforts to boost economic growth and maintain historic social gains. The Washington-based financial institution said that the amount included…
July 2, 2014
TURKS AND CAICOS SECURES FIRST S&P CREDIT RATING OF BBB+
The Turks and Caicos Islands Government (TCIG) is pleased to announce its first sovereign credit rating of BBB+ from international ratings agency Standard and Poor’s (S&P), today, Tuesday, 1 July 2014. S&P’s rating highlights that the…
June 20, 2014
IMF in warning over Argentina ruling at US Supreme Court
The International Monetary Fund (IMF) has warned that Argentina's legal defeat in its fight against hedge fund investors may have wider implications. On Monday, a US Supreme Court ruling sided with bondholders demanding Argentina pay them $1.3bn…
June 20, 2014
US Feds cuts growth forecast
The US Federal Reserve has cut its growth forecast for 2014 due to the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%. However in its accompanying…
June 20, 2014
Sandals cuts communication costs by 44%
Sandals Resorts International (SRI) reported a 44 per cent decrease in its communication costs just one year after implementing a Pan-Caribbean closed-user group (CUG) solution from Digicel Business. The communication solution enables unlimited…
June 14, 2014
Crude Oil Spikes
The price of Brent crude spiked on Friday over concerns about the ongoing insurgency in Iraq. Oil prices settled down, but at $4 per barrel higher than at the beginning of the week. Reassurances about the flow of oil supplies went some way to…
June 14, 2014
South Africa could be downgraded by Fitch
Credit ratings agency Fitch has warned South Africa that its credit rating may be lowered following a five-month platinum strike in the country. Fitch was followed by Standard & Poor who also downgraded their rating Fitch changed the country's…
June 13, 2014
Loan growth surges, bad debt falls
Jamaicans are borrowing at record amounts while keeping non-performing loans (NPLs) to three-year lows, according to the latest Bank of Jamaica (BOJ) prudential indicators. Total gross loans outstanding increased to $468 billion or 9.8 per cent…
June 12, 2014
Oil prices spike as Iraq violence flares
Oil prices spiked Thursday to levels not seen in nine months as escalating violence in Iraq sparked worries about crude exports. Light crude oil futures touched $106 a barrel, up nearly 2% and the highest price since September 2013. The price of…