The Caribbean Development Bank (CDB) is making available emergency loans to seven Caribbean countries, in the first instance, to finance the response to the COVID-19 pandemic. Today, the Bank’s Board of Directors has approved a total of US$66.7 million for Antigua and Barbuda (US$13 million), Belize (US$15 million), Dominica (US$2.5 million), Grenada (US$5.9 million), Saint Lucia (US$10.8 million), St. Vincent and the Grenadines (US$11.3 million), and Suriname (US$8.2 million).
“The provision of support to the seven countries to respond to COVID-19 and keep critical government services and operations running is urgent to halt the economic decline and minimise social hardship, while giving focused attention to the most vulnerable people,” says CDB President Dr. Wm Warren Smith.
The emergency loans, made under CDB’s most concessional terms, will provide vital liquidity and increase governments’ fiscal space to allow these countries to promptly meet their urgent financing needs without diverting resources away from critical social expenditures or health emergency needs.
Caribbean countries are especially vulnerable to the global outbreak due to their heavy dependence on tourism for income and employment. According to CDB estimates, many of these countries, including those, which will be supported with emergency loans, will fall into recession this year. Real gross domestic product will decline in Antigua and Barbuda (1.5%), Belize (5.4%), Dominica (2.9%), Grenada (10%), Saint Lucia (9.1%), and St. Vincent and the Grenadines (4.8%). Suriname, heavily dependent on gold production and export, was also severely hit and the economy almost brought to a complete standstill. Its economy is forecast to contract by 3% in 2020.
It is expected that the social impacts of the COVID-19 pandemic will be significant, stemming from an increase in unemployment, and loss of income and livelihoods, as well as substantial disruptions of social services, with women, female heads of households and children, persons with disabilities, indigenous peoples, and migrants as the most vulnerable groups.
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CONGRATULATION.Hon Gaston Browne best Prime Minister in the World. Let Us hear what UPP will say about this GREAT news.
Heard on the weekend that D.Gisel Isaac is reaping a harvest three ( 3 ) pay cheques. I would like to find out why Jamale Pringle could not find a BRIGHT, EDUCATED Person in His Constituency to fill the post of ( HIS RESEARCH OFFICER) . This shows how much Jamale cares for His Constituency !!!!!
Gisel Isaac should never called the word CORRUPT again. It also shows how much the OLD BARDS In the UPP control Jamale Pringle . Tabor I would like You to comment on this issue with your LEGAL mind. AWFUL.
GISELE ISAAC IS A NATIONAL OF ANTIGUA AND BARBUDA.SHE DID NOT BANG WATER COME DEY.IF FOREIGNERS COULD COME INTO ANTIGUA AND HOLD MULTIPLE HIGH PRICED POSITIONS.SHE HAS ALL OF THE RIGHTS TO HOLD ANY AMOUNT OF JOBS SHE WANTS.GASTON BROWNE,AS PRIME MINISTER HAS THE RIGHTS TO BE MINISTER OF FINANCE,AND LOOKING TO LEASE 10 ACRES OF LAND FOR AGRICULTURAL FARMING.IT IS HIS RIGHTS.I AM COMING TO GET 2 CUTLASSES,RUBBER WATER BOOTS,TO CHOP WOOD AND BUN COAL.
Black man tell the joker that again!
All around I have a few questions for you
1. Are you a tax paying citizen?
2. Do you have children under the age of 16yrs?
3. Do you own property in Antigua and Barbuda?
4. Are you registered with social security and medical benefits?
I have a few more questions but I will stop at 4. The reason for my questions, I realized that most of the people applauding Gaston Browne are taker, brown-nosed and bottom feeders who would kill there own family members just to get a $100. Xcd handout.
If you were helping to pay back that loan you wouldn’t be congratulating him, and why is the economic power house taking so much more money than the other Caribbean countries? However I don’t expect you to be able to answer any of the questions cause you wouldn’t know what’s going on around you while your head is up Gaston Brown rectum. Hey I used a nice word. Lol
@ALL AROUND:Do you realize it is a LOAN,not a grant.A loan that has to be repaid.So you are patting Gaston on the back for monies that you and your children and their children would be trying to pay back.When Gaston Browne would have retired and living the high life at Jolly Beach.You would be sucking salt.And you like that?
Mr. PM,
Take 50% of that loan to help the common people.
Aggressively invest the other 50% in the US stock market.
The stock market is so beat down right now that there is a great odds in your favor to earning 25% return is just one year or less.
Once the stock market snapped back into form then, cash out and re balance more safely across high yield dividend stocks along with a bullish outlook on 5G related equities. Thereafter, used the gains to pay back the loan and tax payers never feel weigh of the borrowed.
End of the loan term:
-The people got some.
-Loan paid in full
-Still have apprx $10 Mill cash investment working like an endowment for years to come.
Slap in the face for. failure Lovell. He need to quit he cry bad roll on the ground and ball when he loose last time he knows.Do well pm. BROWNE.
ALL AROUND what issue? The fact that the Caribbean Development Bank is loaning US$66.7 million to 7 Caribbean countries and that Antigua and Barbuda will get US$13 from it (I hope the government spends it wisely), or the fact that Giselle Isaac is the Research Officer for Jamale Pringle. I am lost so please enlighten me.
Me think you Tabor say you only post on legal issues not political ones but here your are responding to an ALP troll. Boi Tabor you really ah pratice fu be one politrickstar but if I were you I would give up cause cause ya closet full ah skeltons and once you enter the political ring all bets are off all ya dirty little secrets will be exposed.
@ Tabor, BLACK MAM
Jamale could not find a QUALIFIED Person in His Constituency to that Position ? I can list at 10 Persons who are UNEMPLOYED IN OUR constituency with University Degrees. Tabor I am addressing the HYPOCRISY in the UPP .Come on Tabor think about it. You Guys are ONE SIDED PARTY. Smarten UP.
If this was ABLP you Guys will be crying Blue Murder.
@ LMAO
Stop drinking the BLUE KOOLAID . I believe the Koolaid got to your brains. Please address the question I put to Tabor and Black-Man
ALL AROUND I now see what you are getting at however I find it hard to believe as you say that there are 10 people in Pringle’s constituency with University degrees who could do the job as his Research Officer. I am sure you would agree that I could not comment fairly on this matter, for example, unless I know the areas in which these people have their degrees so that a comparison could be made with Giselle Isaac to see who is best suited for the position. Some of these degrees could be in the sciences or accounting etc. You must member Giselle Isaac’s background as Speaker of the House for 10 years and also her research and writing skills. The point I am making you really cannot come to the conclusion that Pringle could have found a better person from his constituency without having all the pertinent facts before us for consideration.
We gone back to the IMF again?????
Why all this borrowing and begging and loaning when you are doing better dan all a dem even the USA and Canada
Careful you don’t get swallowed up by your own bitter gall and negativity. Nothing would sweet you more than to see this country sink. You and Knight nak wan head.
@HYPOCRISY
Totally in agreement with you. DESSALINES and KNIGHT would like to see the ANTIGUA sink under ABLP.
They are giving WORTHLESS advice. AWFUL GUYS.
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