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Date: 21 Apr 18 08:42pm
The Caribbean Community’s concerns on the impact of the global economic and financial crisis and its views on the related reform of the international financial architecture were conveyed to the members of the Group of 20 (G20) in time for their Summit, which took place in London on Thursday last.The region’s financial distress as a result of the crisis was highlighted with particular reference to the fallout of the regional conglomerate, CL Financial Group (CLICO).Underscoring the impact on other sectors in the regional economy, the Community pointed to the tourism sector, which has experienced a dramatic decline in arrivals and low occupancy rates in spite of reduced rates.Tourism-related local productive sectors have also been negatively affected as well as airline and ground transportation.According to the Caricom Secretariat, the crisis has also meant layoffs in some of the region’s larger industrial, financial and service enterprises, slow down or the shut down of businesses in several member states.Large investment projects, which were on the verge of being initiated, have come to an abrupt halt in some of the member states.The community posited that its member states were focused on devising counter cyclical measures to mitigate the effects of the crisis and exploring means of strengthening their financial regulatory frameworks at a national level.It was also pointed out that the reforms that were of particular interest to member states included the need for special treatment to be accorded to highly indebted middle-income countries (HIMICs), which found it difficult to grow out of their debt without special assistance from the international community.It was further urged that CARICOM countries should not be graduated out of access to concessionary loans on the basis of mere per capita income, particularly since such a level of income may not be sustainable.The international community needed to level the playing field with regard to the treatment of the offshore financial jurisdictions in small developing countries.This was important because of the limited scope for structurally dependent economies to diversify their economies.Moreover, the countries in Caricom were encouraged to diversify into services not only by local advisors but also by the international community who suggested that services were the best alternative to real sector production.The Region was also concerned about the worsening security fall out from the crisis, pointing out that hundreds of thousands of persons may slip back into poverty if the crisis persisted for another 18 months, Cheap Air Max 95 Sale, as was the worse case scenario.The Community was of the view that it would be hard pressed to contain the crime situation, which was already grim as a result of the drugs and related guns trade.
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Date: 21 Apr 18 08:42pm
…says he has witnesses to prove his contentionLeon Phillips, who is a debt collector, is contending that he was wrongfully assaulted by ranks of the City Constabulary, when he was escorted out of the Municipal compound on Wednesday, last.At the time he was attempting to retrieve outstanding money from the Mayor and City Council (M&CC).According to Phillips, he was seeking permission to speak with City Treasurer, Nike Air Max Shoes For Women, Andrew Meredith, when he was thrown out.He said that in March, RRT Enterprise sold a hauler and low bed trailer to M&CC for $10M.Phillips stated that the first payment of $6 million was made by M&CC on March 16. He then claimed that the treasurer had him “running around” to pay the remainder of the money.Leon PhillipsHe said that he was paid a further $2M on April 23.“I tell Meredith, that I was going to the Minister of Local Government to lodge a complaint, because of the delay of payments. Meredith begged me not to go; eventually he (Meredith) made a payment of $1M on October 12, ” said Phillips.Phillips is contending that “Mr. Patterson” from M&CC called him and told him that Meredith was requesting $100, 000 before he can sign the cheque for the outstanding balance.“I was shocked. I became frustrated, so I went to see Minister Lall, but he was not in office, ” said Phillips.Phillips is contending that Meredith called him on Thursday, last and asked him to meet with him at his office to collect the money. He said that he gave Meredith $80, 000 and that the City Treasurer wrote a cheque for the outstanding balance of $1M.Phillips said that while he was in a meeting on Friday, last, with “Mr. Rooplall” at the Ministry of Local Government, Meredith contacted him via telephone, demanding another $30, 000. He is contending that the call was placed on loud speaker and that “Mr. Rooplall” heard everything.“Meredith tell me dat $80, 000 is not enough and that he (Meredith) has to pay “Mr. Patterson” his cut” so I’ll have to give him the $30, 000 today or the cheque will bounce at the bank, ” said Phillips.When Kaieteur News contacted the treasurer, he said that the outstanding balance was paid to the man on Thursday. He said that it is customary that if any company sells a product to the council, the item must be registered to the M&CC before all payments are made.He further noted that the item has not been registered to M&CC, but will be done shortly.When asked about the allegations of bribery made by Phillips, Meredith contended that the allegations are “outrageous” and that he was unaware of what Phillips was asserting.
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Date: 21 Apr 18 08:34pm
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