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IMF warns of global financial meltdown |
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Sunday, 19 October 2008 |
WASHINGTON DC – The International Monetary Fund (IMF) warned Saturday
that the global financial system was on the verge of “systemic
meltdown” and said it was ready to lend to countries in dire need of
capital due to the current economic crisis.
The pronouncement came a day after leaders of the world’s largest
economies unveiled a plan designed to bring stability to financial
markets, which have been in flux over the past couple of weeks.
"Intensifying solvency concerns about a number of the largest US-based
and European financial institutions have pushed the global financial
system to the brink of systemic meltdown," IMF chief Dominique
Strauss-Kahn said.
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Government calls on financial experts |
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Sunday, 19 October 2008 |
KINGSTON – The Jamaica government has assembled a high-powered team of
the country’s top financial experts to monitor the global economic
crisis and its impact on the local economy.
Prime Minister Bruce Golding, in making the announcement Thursday
evening, said the team would be charged with determining what actions
should be taken to deal with the fall out locally.
“A team drawn has been set up to monitor and analyze, on a day-to-day
basis, developments in the global financial market to determine the
likely impact on Jamaica and to allow for timely and pro-active policy
intervention,” he said.
Over the past few days, Golding and Finance Minister Audley Shaw have
been criticized by the opposition People's National Party for stating
that Jamaica would be able to withstand the financial shock that has
been reverberating across the globe.
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Haiti’s hungry could cause more unrest |
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Sunday, 19 October 2008 |
A new wave of social unrest could be on the horizon for Haiti, if the
plight of the hurricane-ravaged nation is not addressed soon, the top
UN envoy to Haiti said Friday.
The regions poorest nation was severely damaged by four storms - Fay,
Gustav, Hanna and Ike - in the space of about a month leaving over 800
people dead in their wake. In the city of Gonaives alone, 520 were
killed.
According to Hedi Annabi UN envoy, the relief effort needed to rectify
the problem is beyond the reach of Haiti and the United Nations alone
and ignoring Haiti's plight could reignite turmoil, especially since
the food crisis earlier this year caused deadly riots in the country.
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PNP leader launches into Golding |
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Sunday, 19 October 2008 |
KINGSTON – The main opposition People’s National Party (PNP) on Sunday made a new play for the leadership of the country, with party leader Portia Simpson Miller blasting Prime Minister Bruce Golding for everything, from his government’s handling of domestic crime and economic challenges to a recent scathing attack on fellow Caribbean Community (CARICOM) leaders.
Simpson Miller, whose PNP was hurled from power here and into opposition following the September 2007 general elections, used the close of her party’s convention to make a fresh bid for re-election.
A re-invigorated Simpson Miller, who recently had her leadership mandate renewed by party delegates, called on Jamaicans to hold the Prime Minister and his ruling Jamaica Labour Party (JLP) accountable for the promises they made to the electorate.
She also appealed directly to the Prime Minister not to destroy Jamaica’s relationship with its CARICOM neighbors after Golding, speaking at a function in New York City late last month, accused unnamed regional leaders of going from capital to capital across the globe like "panhandlers on the street begging the world for assistance".
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Caribbean states approve EPA |
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Sunday, 19 October 2008 |
BRIDGETOWN - With much pomp and ceremony, 13 Caribbean states on
Wednesday took a bold step forward in cementing their future trade with
Europe, leaving Guyana and Haiti alone to further contemplate their
participation in the Economic Partnership Agreement (EPA).
The two Caribbean Community (CARICOM) member states were notably absent
from the official EPA signing which took place at the Sherbourne
Centre, just outside the capital, between officials of the European
Commission and CARIFORUM -- the grouping that links CARICOM to the
Dominican Republic.
However, the Bharrat Jagdeo administration in Guyana, which had long
criticised the agreement in its present form, sent word to Bridgetown
of its intention to finalise the trade deal by the end of October.
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