Grenada Government Ministers and Officials visit General Hospital

ST. GEORGE’S, Grenada, December 23, 2011 – Prime Minister Hon. Tillman Thomas on Thursday led a delegation of government ministers and senior health officials on a tour of the island’s main hospital in St. George’s, bringing Christmas greetings to patients, staff and visitors.

The Prime Minster, along with Finance Minister Nazim Burke and Health Minister Ann Peters, were accompanied by officials such as Permanent Secretary in the Ministry of Health, Isaac Bhagwan; Director of Medical Services, Dr. Kester Dragon; and Deputy Director of Nursing Services, Hazelyn Benjamin. 

During the three-hour-long visit, the Grenadian leader went from bed to bed and floor to floor, meeting and greeting patients, doctors and nurses. 

As Mr. Thomas and the team moved about the hospital wards, several persons stopped him to express how pleased they were with the level of care and attention given to them by the healthcare providers.

Many people also stopped and embraced the island’s Health Minister, while commending and encouraging her to continue to do her best to improve the level of healthcare services.

One such person was former Foreign Affairs Minister and Member of Parliament Dr. Raphael Fletcher. He congratulated both Minister Peters and Prime Minister Thomas for the excellent work they are doing. 

As the delegation conducted their visit, they also took the time to consider ways in which the patients can continue to reap more health benefits and of improving the working environments for staff to perform at their optimum level.

Already the Ministry of Health has outlined several new projects to come on stream in 2012 that will improve the delivery of services and patient outcomes.

These include the construction of the General Hospital’s second phase, and refurbishment and expansion of several buildings and areas such as the Laboratory, Duncan’s Ward, and the O’Doughty building.

In 2011, the Health Ministry undertook several major initiatives at the General Hospital. Among them were the construction of a disabled and emergency access ramp; refurbishment of the X-ray Unit (waiting area); and conversion of the former nursing school into office space and ward in preparation for refurbishment of some sections of the main hospital facility.

Following the tour of the General Hospital, the Prime Minister-led delegation visited the Home for the Aged at Richmond Hill, St. George’s.

SOURCE: Ministry of Health/Keville Frederick

Grenada's Finance Minister speaks on Taiwan's loan debacle

NEW YORK, November 1, 2011 - Grenada's Finance Minister Nazim Burke speaking with Rennie Bishop about the Export-Import Bank of Taiwan v. Grenada on Caribbean Corner on WWRL 1600 in New York on Saturday October 29, 2011.

Mr Burke, in answering questions, said that it's not the wish of the government to reduce this to a blame game between the government and the opposition.

"Our objective is to say to the nation this is where we are and these are the circumstances,” he said.
Caribbean Corner with Rennie Bishop is heard on Saturdays between 5-7 p.m. on WWRL 1600.

Grenada's Finance Minister - Nazim Burke, Oct 29 201 (RB) by mikebas

Foreign Ministry responds to Grenada debt questions

File Photo: Finance Minister, Nazim Burke

by Shih Hsiu-chuan  /  Staff Reporter

TAIPEI, October 27, 2011 - The government did not get involved in a recent request from Grenada to defer debt repayment because the matter was handled by the Export-Import Bank of the Republic of China, the state-owned bank charged with implementing state policy in trade, the Ministry of Foreign Affairs said yesterday.

Director-General of the Department of Central and South American Affairs Wu Chin-mu (吳進木) said the ministry was “in no position to intervene in the matter” because the loan in question was “commercial.”

Asked why the government renegotiated a debt repayment plan with Haiti to help it recover from an earthquake in January last year, Wu said Grenada, unlike Haiti, is not a diplomatic ally.

The Associated Press reported on Tuesday that the government of Grenada had warned that “aggressive efforts” by Taiwan to collect a US$28 million ruling would hurt the tourism-dependent economy of the Caribbean island.

In an interview with the wire agency on Monday, Grenada Finance Minister Nazim Burke said cruise operators and airlines could halt operations in Grenada after receiving legal papers filed by US lawyers working for Taiwan compelling them to turn over any money they owe Grenada in fees or other payments.

Already, one cruise operator has threatened to cancel its 20 stops in Grenada until next year as a result of the effort to seize port fees.

“If this was to happen, we stand to lose millions,” Burke was quoted as saying.

The dispute centers on loans provided by the Export-Import Bank for a variety of infrastructure projects in Grenada in the 1990s, the report said.

Grenada officials have said they could no longer pay the loans because of a number of shocks to its economy, including the devastation from Hurricane Ivan in 2004 and the drop in tourism following the Sept. 11, 2001, terrorist attacks in the US, it said.

Taiwan filed suit in a US District Court for the Southern District of New York and won a summary judgement in 2007 that has grown to about US$28 million with interest and penalties, nearly the total value of its exports of goods in 2009, the report said.

The report quoted Paul Summit, a lawyer for the Export--Import Bank, as saying that Grenada has not paid any of the principal or interest on the judgement and that the bank is “pursuing a number of lawful avenues to achieve collection.”

Officials in the Caribbean nation have said Taiwanese officials refused to renegotiate the loans because Grenada had severed diplomatic relations in favor of China, it said.

Contacted by telephone yesterday, Wang Chi-chung (王吉忠), a spokesperson for the bank, would not comment on the matter.

“Any information about loans between the two countries pertains to state secrets,” Wang said.

“As a public servant, I can’t reveal any confidential information,” Wang said.

SOURCE: Taipei Times

Nazim Burke TTPP 26Oct2011 by mikebas

Chinese offer called “golden opportunity’’ for infrastructural development

St. George’s, September 16, 2011 – Grenada’s Works and Physical Development Minister, the Hon. Joseph Gilbert, is excited about a Chinese offer of monetary assistance for regional infrastructural development.

“Grenada and other Caribbean countries now have a golden opportunity to undertake much-needed investment in developing their physical infrastructure,’’ said Hon. Gilbert, who is also the Minister of Public Utilities.

He made the comment on his return from Trinidad where he was part of Prime Minister Tillman Thomas’ joint government/private delegation that attended the Third China-Caribbean Economic and Trade Forum on September 12 and 13.

Minister Gilbert attended the second day of the forum at the invitation of his Trinidad counterpart, the Hon. Jack Warner, Minister of Works and Infrastructure. A Structural Engineer, Mr. Gilbert was specially invited to attend a seminar on “Cooperation in Finance and Infrastructure.’’

China intends to pump more than US$1 billion into the region over the next five years. The package includes a “Special Purpose Fund’’ for infrastructure development, and would be accessible to governments as well as private sector enterprises at competitive interest rates.

As a condition of the loan arrangement, the borrower would be required to contribute 30 percent of the cost of the project to be funded, Minister Gilbert explained.

“It is also a requirement that the project be viable so as to satisfy the loan repayment plan,’’ he elaborated. “I, therefore, want  to encourage our private sector, in particular, to grasp the opportunity provided under this initiative by the Chinese,  to undertake as many major infrastructure development works in  Grenada as practicable; either on their own as private enterprise, or, in partnership with government.’’

Two other special seminars were held simultaneously; one was on “Cooperation in Tourism,’’ which was attended by Grenada’s Tourism Minister, the Hon. Peter David; and another on “Cooperation in Agriculture and Fisheries,’’ which included participation from Minister Denis Lett.

Other government officials in the Prime Minister’s delegation to the China-Caribbean Forum were Foreign Affairs Minister  Karl Hood, and Minister for Finance, Nazim Burke.

Grenada and Trinidad & Tobago discuss cooperation in the Energy Sector

Ministers Burke & Ramnarine

ST GEORGE’S, Grenada, September 15, 2011 - Grenada and Trinidad and Tobago have begun a series of discussions on how both countries could collaborate in the Energy Sector.

Grenada’s Minister with responsibility for Energy, Nazim Burke met with his Trinidadian counterpart, Senator Kevin Ramnarine in Port-of-Spain on Wednesday where they discussed possible areas of cooperation in the energy sector.

Minister Burke expressed Grenada’s interest in collaborating with Trinidad and Tobago to draw upon its more than 100 years of experience in the offshore oil and gas industry as Grenada seeks to develop its own offshore sector.

Minister Ramnarine expressed an eagerness on the part of Trinidad and Tobago to work with Grenada to develop its institutional and legislative capacity in the petroleum sector.

Grenada Delegation

Minister Ramnarine was particularly excited over the prospects of what could be a historic joint arrangement on the exploration and exploitation of the maritime are that straddles the recently agreed maritime boundary.

It was agreed that a draft Framework Agreement would be prepared and reviewed by both countries before the end of 2011. It was further agreed, that as a priority, joint seismic studies would be conducted in the areas of interest.

A Grenadian technical team will be put together to work with their Trinidadian counterparts to prepare and expedite a Joint Work Programme for the next 12 months.

Today’s meeting was a follow up to one held in May of this year with the former Minister of Energy, Caroline Seepersad-Bachan.

The Grenada delegation also included Mr. Alva Browne, Foreign Officer; Mr. Gilbert Massell, Surveyor, Cartographer and Dr. Hugh Sealy, Energy Advisor.

Grenada: 8,000 Poor Families to Benefit from Improved Social Programme

WASHINGTON, July 5, 2011 — The World Bank Board of Directors approved today a US$5 million zero-interest credit to help Grenada strengthen its conditional cash transfer programme. As a result, the project will improve coverage of poor households receiving cash transfers provided children go to school and to health check-ups.

"Grenada's safety net includes three targeted cash transfer initiatives which will be consolidated into a comprehensive conditional cash transfer (CCT) programme," said Hon. Nazim Burke, Minister of Finance, Planning, Economy, Energy and Cooperatives. "Grenada welcomes the World Bank’s support for our reforms in the area of social protection having regard for its long track record of designing effective CCT programmes that have achieved good results in several countries." 

Burke said he expects that the combination of new financing and knowledge provided by the World Bank will greatly help improve Grenada's CCT programme.  Safety Net Assistance Programme is consistent with our Government’s commitment to social protection for the poor and vulnerable, good governance and sound economic management, Burke concludes.

The combined effects of lower levels of tourism revenues and transfers from abroad including foreign direct investment and remittances — recent rise in prices for food and fuel, and natural disasters —have reduced purchasing power among the poor, and raised unemployment levels.

Grenada’s available social safety net initiatives are not currently able to fully respond to mitigate the impacts of these shocks or effectively promote productive investments amongst the most vulnerable. 

“New financing will strengthen safety nets in order to prevent potential declines in living standards while maintaining investments by providing financial support to families most in need,” said Françoise Clottes, World Bank Director for the Caribbean.

Specifically, the Grenada Safety Net Advancement Project will finance a plan to strengthen the new consolidated Conditional Cash Transfer (CCT) Programme and the capacity of the Ministry of Social Development to implement it. 

It will also:

(i)       improve coverage of poor households receiving cash transfers; and

(ii)      improve education outcomes of poor children and health monitoring of vulnerable households.

Social policy officials in the OECS recommended in January 2010 a reform of Social Safety Net Programmes as Member Countries seek to design more efficient strategies to help the region's most vulnerable persons.

The two US$5 million zero-interest credits from the World Bank’s International Development Association (IDA) are repayable in 40 years, including a 10-year grace period.

SOURCE: World Bank

Government and SGU continue to collaborate closely

Min. Burke & SGU Monitoring Committee

ST. GEORGE’S, GRENADA, April 27, 2011 - The newly reconstituted St. George’s University (SGU) Monitoring Committee, Chaired by Hon. Nazim Burke, Minister of Finance, held its first meeting with the SGU on Thursday April 21, 2011.

This was also the first meeting between Government and SGU since the signing of a new Agreement last December.

Among the many matters discussed were:

-         The commencement of a Clinical Teaching Programme, carded for September 2011 at the General Hospital in St. George’s; and

-         A degree programme for teachers.

The Clinical Teaching Programme will not only provide training for SGU students, but will provide additional equipment and Specialists at the General Hospital, thereby improving the delivery of Health Care in Grenada.

In respect of the degree programme for teachers, this is consistent with Government’s thrust to lift the quality of education, through an increased number of Graduate Teachers.

The SGU delegation was headed by Dr. Charles Modica, Chancellor of the University.

The members of the newly reconstituted Monitoring Committee are:

-         Hon. V. Nazim Burke, Minister for Finance – Chairman

-         Hon. Franka Bernadine, Minister for Education – Deputy Chairperson

-         Mr. Rohan Phillip, Attorney General

-         Mr. Timothy Antoine, Permanent Secretary, Ministry of Finance

-         Mr. Aaron Moses, Office of the Prime Minister

-         Mr. Terron Gilchrist, Policy Advisor to the Minister of Health

-         Mr. Christopher De Riggs, Director, Private Sector Development, Ministry of Finance

The Committee and the University have agreed to meet on a monthly basis to monitor the implementation of activities with respect to the new Agreement.

SOURCE: Ministry of Finance, Planning, Economy, Energy & Cooperatives

Minister Hood calls for reduced cost for renewable energy technologies

Minister Hood addresses IRENA

Abu Dhabi, UAE, April 4, 2011 – Grenada wants developed countries to provide significantly reduced cost of renewable energy technologies to small island states.

This was among issues highlighted by Foreign Minister Karl Hood as he addressed the Inaugural First Session of the International Renewable Energy Agency (IRENA) in the United Arab Emirates on Monday.

Minister Hood, who is leading a Grenada delegation to the meeting, said that IRENA should be the driving force of this initiative and warns against developing countries using it as a marketing bazaar “to sell expensive and sometimes inappropriate technology to developing countries”.

“We look forward to active participation in IRENA and the meaningful role that this agency will play to assist our economy in its transition to a sustainable energy pathway,” Mr Hood said at the formal launch.

He said that Grenada has been working to increase the efficiency of its energy use and to develop its renewable energy sector and following two years of extensive consultation, the Government last month approved a National Energy Policy and a Sustainable Energy Action Plan “which will transition our economy unto a lot carbon development path”.

The Grenadian minister said that the island is blessed with abundant sources of renewable energy including geothermal, wind and solar. However, harnessing these resources require significant technology transfer and financial investment, he said.

Minister Hood is also scheduled to meet with the Foreign Minister of the UAE to discuss bilateral cooperation between Grenada and the Emirates. He is also schedule to hold discussions with the designated Director-General of IRENA, Mr. Adnan Amin.

Hood is accompanied by Energy Minister Nazim Burke, Foreign Service Officer Alva Browne and Energy Advisor in the Ministry of Finance, Dr. Hugh Sealy.

IRENA was officially established in Bonn, Germany on January 26, 2009. To date 148 states and the European Union signed the Statute of the Agency; amongst them are 48 African, 38 European, 35 Asian, 17 American and 10 Australia/Oceania States.

Mandated by these governments worldwide, IRENA will promote the widespread and increased adoption and sustainable use of all forms or renewable energy. Acting as the global voice for renewable energies, IRENA will facilitate access to all relevant renewable energy information, including technical data, economic data and renewable resource potential data. IRENA will share experiences on best practices and lessons learned regarding policy frameworks, capacity-building projects, available finance mechanisms and renewable energy related energy efficiency measures.

Grenada to establish Teaching Hospital

by Michael Bascombe
ST GEORGE’S, Grenada, January 14, 2011 - The Grenada Government plans to establish a Teaching Hospital on the island which it says is aimed at leveraging the presence of the St George’s University (SGU).

Finance Minister Nazim Burke, in presenting the island’s US$301 million budget on Friday, said that such a facility would provide opportunities for the students to remain in Grenada for longer period to do their clinical rotations and internship. He said that the additional expenditure would have a significant impact on the domestic economy.

Medical schools in New York State have launched a campaign to persuade the Board of Regents to make it harder, if not impossible, for foreign schools to use New York hospitals as extensions of their own campuses, according to a report in the New York Times last month.

“This thrust is also timely in light of the posture of certain teaching hospitals in the USA to attempt to limit the intake of students from Caribbean medical schools,” he said.

He said that Government believes the establishment of a Teaching Hospital in Grenada would raise the standard and quality of health care for citizens at home, citizens abroad desirous of returning home to retire as well as visitors.

The Grenada Government and the SGU signed a new agreement late last year which includes the availability of more scholarships for Grenadians, equipment and support for specialists at the main hospital in St George’s.

Mr Burke said that as part of the agreement, Government and the SGU have agreed on the necessity for a Teaching Hospital and as a first step, the University will develop a Clinical Teaching Programme at the General Hospital later this year.

Grenada wants ties with non-traditional allies

by Michael Bascombe
ST GEORGE’S, Grenada, January 14, 2011 - Grenada wants to establish and develop ties with non-traditional allies such as rapidly developing nations like Brazil, Russia, India and China also known as the BRIC Countries.

In the presentation of the US$301 million budget on Friday, Finance Minister Nazim Burke said that Grenada will also continue to pursue bilateral cooperation with States in the Middle East and North Africa.

He said the Ministry of Foreign Affairs will continue to make concerted efforts to ensure that relations with Grenada’s traditional allies are maintained and strengthened.

According to Burke, the priority areas for the Foreign Ministry in 2011 will be a revision of Grenada’s Foreign Policy to ensure a greater focus on Investment and Resource Mobilisation; expansion of diplomatic relations with selected countries and engaging the Grenadian Diaspora to participate in and contribute to social and economic development of the island.

The reviewing of the criteria for the appointment of Grenada’s Honorary Consuls abroad; development of a Career Foreign Service and the strengthening of the capacity of the Ministry and its overseas missions to implement Government’s Foreign Policy more effectively.

Grenada features in UK's Diplomatic Magazine

LONDON, UK, October 19, 2010 - Grenada’s attractions and other areas of potential investments are featured in the latest edition of the Diplomat magazine.

The full-coloured glossy 63-year-old monthly magazine, which provides a unique insight into the minds of the most prominent world leaders and governments, provided 22 pages of information about Grenada, including interviews, photographs and advertisements.

Through an initiative of High Commissioner Ruth Rouse, the editor of the Diplomat Venetia de Blocq van Kuffeler was invited to Grenada by Tourism Minister Glynis Roberts.

In her foreword for the special feature on Grenada the editor said: “I have been privileged to visit many spectacular places around the world, but none have I found as unspoilt, charming and bursting with natural beauty as Grenada”.

“This ‘Spice Isle’ boasts dramatic scenery, tropical rainforests, waterfalls and golden beaches that will appeal to visitors from all over the world. The country’s relatively new tourism industry is packed with potential, not only on account of the beaches – there’s plenty of heritage, sport, nature and local culture to discover as well,” she wrote.

The “Grenada Report” in the Diplomat included an introduction of the island by High Commissioner Rouse and investor Peter de Savary recalling his first to the island more than 50 years ago and recognising “an untapped opportunity for the development of the hospitality industry on the island”.

The editor also spoke to Prime Minister Tillman Thomas, who shared his plans and priorities for the development of Grenada, Foreign Affairs Minister Peter David, Tourism and Civil Aviation Minister Glynis Roberts and Finance Minister Nazim Burke among government officials.

The Tourism Minister said that if the right conditions are created, the tourism sector could become the number one creator of employment and wealth for Grenada. “Our strategy is a work in progress. We aren’t working on mass tourism, but on quality and creating experiences that will make people want to return to the island”.

The magazine also profiled the St George’s University and the Grenada Chocolate Company among industries and institutions, and a guide to hotels and restaurants on the island.

A two-page advertisement from the Grenada Co-operative Bank Ltd and other spots from the Grenada Electricity Services (GRENLEC); Mount Cinnamon Resort Hotel; and SGU supplemented the feature on Grenada in the Diplomat.

Co-op Bank, Grenada’s fastest growing bank, recognises the need to expand its customer focus geographically. The Bank has therefore committed itself to understanding the needs of existing and potential customers in the Diaspora,” the bank stated in the magazine.

The Diplomat boasts a mixture of international writers, political commentary on world affairs, stunning photography and interviews with Heads of Mission.

Articles can be found on http://www.diplomatmagazine.com/

Minister Burke signs loan agreement for Feeder Roads Project

WASHINGTON, DC, October 14, 2010 – Grenada and the OPEC Fund for International Development (OFID) have signed a US$8.5 million loan agreement for the second phase of the Agricultural Feeder Roads Project.

The agreement was signed in Washington, DC last Friday by Finance Minister, Nazim Burke and the Director General of OFID, Suleiman Al-Herbish.

The Finance Minister hailed the signing of the loan agreement as “an important development as Government seeks to expedite public sector projects to promote job creation and economic growth”. “Indeed, this was one of the commitments given by Prime Minister Tillman Thomas in his national address on September 7, 2010”.

Mr Burke thanked the OFID for “its continuing support for development of Grenada especially in the transport sector”.

Mr Al-Herbish indicated that OFID is happy to support Grenada in this second phase as it was pleased with the impact of the first phase of the project.

The second phase of this project will cost approximately EC$52 million and provides for the rehabilitation or upgrading of 30.6 kilometres of agricultural feeder roads throughout Grenada. The works will include the rehabilitation or construction of drainage systems, sea defences and bridges.

The other funders of the project are the Kuwait Fund for Arab Economic Development and the Government of Grenada.

Minister Burke was accompanied by Timothy Antoine, Permanent Secretary in the Ministry of Finance, Her Excellency Gillian Bristol, Ambassador to the United States of America and Christopher De Riggs, Director for Private Sector Development in the Ministry of Finance.

Finance Minister addresses Small States Forum at World Bank Meeting

Washington, DC, October 11, 2010 - Grenada’s Finance Minister Nazim Burke wants a strengthening of the partnership between Small Developing Countries and the World Bank to overcome many of the economic challenges.

Addressing a Small States Forum (SSF), held on the margins of the International Monetary Fund (IMF)/World Bank Annual Meetings in Washington, DC on the weekend, Minister Burke said that “partnerships will ensure we overcome the challenges we face.”

The Grenadian Minister was among a panel of speakers who were discussing their most pressing challenges but focusing on development prospects in the context of the current economic environment and emerging global issues, including climate change and food and energy security.

Speaking on the theme “Adapting to Global Challenges: Climate Change and Food and Energy Security”, Mr Burke outlined key vulnerabilities and their negative impact on the development of small states.

He reiterated the objectives of food security and the constraints faced by small States, some with limited availability of arable land for food crops.

Minister Burke said that the high cost of energy relative to such macro-economic indicators as export earnings, with energy costs being disproportionately high in this regard.

He made the link between climate change as a global phenomenon and catastrophic weather events like Hurricane Ivan which damaged more than 90 per cent of Grenada’s housing stock at an estimated cost of US$900 million (200% of GDP).

Minister Burke highlighted key issues which should inform the approach by the World Bank in treating with these vulnerabilities, including long-term strategic planning based on detailed modelling of climate impact; Mainstreaming disaster risk management, climate resilience and weather proofing, and food security and energy security into a unified and holistic development plan; and Institutional and capacity-building at regional and national levels to receive, manage, implement and monitor climate-related finance and their associated programs and projects.

The Forum was chaired by Winston Dookeran, Minister of Finance, Trinidad and Tobago and other speakers included Minister Burke; Robert Zoellick, President, World Bank Group; Danny Faure, Vice-President and Minister of Finance, Seychelles; and senior representatives of the European Union and the World Bank.

The Finance Minister led Grenada’s delegation to the 2010 Annual Meetings of the IMF and World Bank Group in Washington, DC. The delegation also included Permanent Secretary Timothy Antoine, Ambassador Gillian Bristol and Director of the Office of Private Sector Development within the Ministry of Finance, Christopher DeRiggs.

The National Ozone Unit rewards Wesley College student

Submitted by the Ministry of Finance, Planning, Economy, Energy & Cooperatives

ST. GEORGE’S, GRENADA, Wednesday, September 15, 2010: At a brief ceremony during the morning assembly of the Wesley College Secondary School on Monday 13th September 2010, officials of the National Ozone Unit (NOU) in the Energy Division of the Ministry of Finance, made a special presentation to Jonissa Auguste, a student at the school.

Jonissa was awarded for creating a painting that was used in the Regional Network Calendar, the highlight of a Caribbean Regional Public Awareness activity organized by the National Ozone Officers of the English speaking Caribbean. Jonissa received a cheque for EC$500.00 and a certificate of recognition.

During Monday’s brief ceremony, Project Officer in the NOU, Mr. Leslie Smith, indicated that Jonissa’s work received international recognition through the worldwide distribution of the calendar.

The NOU also took the opportunity to make two presentations to the school body. They were presented with:

1) A billboard with the painting created by Jonissa. This billboard was unveiled at the school following the assembly; and

2) Porter size paintings of art – given to each classroom and the staffroom.

These presentations were all made as part of the week of activities leading up to International Ozone Day which will be celebrated on Thursday September 16, 2010, under the theme: “Ozone layer protection: governance and compliance at their best.”

Mr. Smith used the opportunity to remind the students and teachers of the need to protect the Ozone Layer and the effects to human health by destruction of the ozone layer. He advised them on protecting themselves from the damaging effects of the ozone layer depletion.

Commonwealth Finance Ministers to meet in Washington DC

9 September 2010

Finance ministers from Commonwealth countries – across Africa, Asia, the Caribbean, Europe, North America and the Pacific – will meet in Washington DC on 8 October 2010 to map out strategies for continuing to deal with the impact of the global economic crisis.

The meeting, which takes place during the annual meetings of the International Monetary Fund (IMF) and the World Bank, will be held in the IMF’s HQ1 building.

Speaking ahead of the meeting, Commonwealth Secretary-General Kamalesh Sharma said that one of the issues that Ministers will discuss is the potential relationship between the Commonwealth and the G20.

“The G20 has been established at leaders’ level, for almost two years now, as a framework of global governance. But it can only represent a part of global public opinion” Mr Sharma said.

“Five of the Commonwealth members are in the G20, but 49 are not. There is a ‘G172’ of those countries which do not sit at its table. But in a Commonwealth meeting, we are able to bring together those inside it and outside it, to express and discuss mutual concerns.”

Ministers will also discuss ways of promoting environmentally sustainable growth, as well as addressing the challenges of small and vulnerable states in managing their debt.

“For many years, it has been clear that a growing number of small states have seen rising and increasingly unsustainable levels of domestic and external debt. In Washington, we will discuss the policy options to address this challenge, including innovative approaches to sustainable debt management,” the Secretary-General said.

Note to Editors

There will a press conference at 6:00pm, at the end of the meeting, in Conference Room 2, in the IMF’s HQ2 Building.

All journalists accredited to cover the IMF/World Bank Annual Meetings are invited to attend. Journalists wishing to attend and/or arrange interviews should contact Mr Julius Mucunguzi, Media Officer for the conference on: j.mucunguzi@commonwealth.int or telephone: +44789459351

This is the list of Commonwealth countries: Antigua and Barbuda, Australia, The Bahamas, Bangladesh, Barbados, Belize, Botswana, Brunei Darussalam, Cameroon, Canada, Cyprus, Dominica, Fiji Islands*, The Gambia, Ghana, Grenada, Guyana, India, Jamaica, Kenya, Kiribati, Lesotho, Malawi, Malaysia, Maldives, Malta, Mauritius, Mozambique, Namibia, Nauru**, New Zealand, Nigeria, Pakistan, Papua New Guinea, Rwanda, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Samoa, Seychelles, Sierra Leone, Singapore, Solomon Islands, South Africa, Sri Lanka, Swaziland, Tonga, Trinidad and Tobago, Tuvalu, Uganda, United Kingdom, United Republic of Tanzania, Vanuatu and Zambia.

* Fiji Islands was fully suspended from membership of the Commonwealth on 1 September 2009 pending restoration of a democratically elected government.

**Nauru is a member in arrears.

For further details about the meeting, please visit: www.thecommonwealth.org/cfmm2010

SOURCE: Commonwealth Secretariat

Burke clarifies SeWang "ties"

ST. George's, Grenada, September 2, 2010 - Finance Minister Nazim Burke held a Press Conference on Thursday following media reports that three people with ties to SeWang One World were arrested on suspicion of fraud.

However, the Finance Minister explained that the government acted with "caution" and didn't bind the country into any shady deal.

Audio Source: GrenadaBroadcast

Finance Minister: Government seeking country’s best interest

St. George’s, August 29, 2010 (GIS) – Grenada will know shortly whether a US100 million loan from the Export-Import Bank of China would be made available for the proposed Four Seasons’ project in the south of the island.

Finance Minister, Hon. Nazim Burke, anticipates a decision from Eximbank within a month or two. The Minister, speaking at a news conference on August 27, described the project as “viable.’’

“We’re satisfied that, on the basis of the terms and conditions that are being offered, it is a viable project,’’ said the Finance Minister, who at the time was also Acting Prime Minister.

He said all documentation has been submitted to Eximbank, which is evaluating the loan application.

Mr. Burke, also Deputy Leader of the NDC, was joined at the news conference by Sen. Glen Noel, Junior Housing Minister and Chairman of the National Democratic Congress; and by former government IT Coordinator Vincent Roberts, Public Relations Officer of the NDC.

Hon. Burke reiterated government’s commitment to the due diligence process and in seeking the best interest of Grenada in all development projects and negotiations with investors.

He reported that discussions are “proceeding quite well’’ in finding a resolution to the Grand Beach land and hotel issue.

“I will not get into any details here but it is quite possible that before very long, we can see some resolution of this issue,’’ Mr. Burke said.

“We will engage the parties to see whether we can get that hotel working in an improved condition and to see whether government can once again become the title holders to the property.’’

In 1997, the former administration granted businessman, Issa Nicholas, a 99-year lease to the 20 acres on which Grand Beach situated. The plan was for him to operate a hotel of international standard.

An arrangement for the transfer of the government-owned land was later made with Formula One driving star, Lewis Hamilton, who was to engage Mr. Nicholas in negotiations and start building the hotel.

Indications are that talks between the Hamilton and Nicholas negotiators broke down, with the title to the land transferred to Mr. Hamilton by the outgoing administration on July 7, 2008 – one day before the last general election.

In order for the land to be returned to the state, government potentially would have to pay millions of dollars.

“The New National Party transferred the ownership out of the people of Grenada, without getting a cent in return,’’ Finance Minister Burke said. “The National Democratic Congress government could have done nothing to prevent that. We were not responsible for it and we are trying to correct that situation.’’

On another project development matter, Mr. Burke said that a Memorandum of Understanding has been signed with SeWang One World Investment, a business group that includes Taiwanese and Korean representatives.

The company proposes spending as much as US$2 billion on airports, schools, hospitals, agriculture and other projects throughout Grenada, Carriacou and Petite Martinique.

Officials of the company visited Grenada in May and met with members of government and the private sector.

At the request of the company, a second meeting was held recently in Taiwan, at which Grenada was represented by Mr. Roberts and Christopher De Riggs, Head of Private Sector Development in the Ministry of Finance.

An initial partnership agreement from SeWang One World Investment has been drafted. But it has not been signed by government, said Mr. Burke.

“We’re interested in doing business but we’re unable to sign that agreement in its existing form. So we would want to see changes made to that,’’ he said.

“We have drafted an alternative agreement and we have shared that alternative with the company involved. The visit, the draft agreement and all of these discussions have taken place within the last week.’’

Mr. Burke added: “We believe that if there is an opportunity there, we want to grab it. But we also have a responsibility to ensure that we know who we’re doing business with. So this is not an overnight process.’’