Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

Commentary: Law and Politics: The finance looks brighter
Published on April 1, 2014 Email To Friend    Print Version

By Lloyd Noel

The good news a couple weeks ago that the government had been rescued by the IMF and some other financial institutions – to the tune of some US$100 million in grants and loans – seems to have made a whole lot of difference to the economic road ahead.

Lloyd Noel is a former attorney general of Grenada, prominent attorney at law and political commentator
It has been well known for some considerable time now, that the state of the economy – and the availability of funding for all kinds of public projects and public servants salaries – have been giving serious causes for concern, to those in control of the reins of power.

But since the welcome news of those millions in loans and grants to our government, the statements coming from the controllers on the whole question of payments to public servants, and the hiring of new workers to replace those going on retirement, have been very re-assuring for the unemployed.

The whole process of rehiring new workers for the public service – both in the police force and the general civil service – will have to be re-assessed during the structural adjustment period of the next three years; but the aim is to maintain stability and ensure good governance, and promote law and order to give confidence to anyone who may be inclined to come to our shores to provide investment and increase employment opportunities.

The unemployment situation is crucial to the economy on the road ahead and, in particular, the effects it will have on the structural adjustment program over the next three years and beyond.

The increase in taxes on properties will affect a whole lot of people and businesses, and the effects in many cases will boil down to the general cost of living across the board, and therefore not only will many more jobs be needed, but increases in wages and salaries will be a prime necessity.

So that, while the financial situation appears to be looking brighter with the welcome news of the US$100 million in loans and grants to the government, a lot of thinking and deep planning on how the said sums will be utilized and distributed in the economy as a whole will be of the utmost importance to all concerned.

There are a few hints and tidbits coming through the grapevine that the plans for selling passports and citizenship to foreign investors are again raising their questionable heads as means for investors to come on board to help provide those much-needed jobs.

While the needs for jobs and more jobs are urgent – and the situation is desperate and becoming even more so, as the time drags on with nothing of note taking place at any level – those in control have to prove by their actions and decisions that they are acting in all our people’s interests.

The controllers have absolute authority in the seats of power where decisions of the nation state are taken and, as the chosen representatives of every parish in the state, they have a special responsibility to act in the interest and for the good and welfare of all the parishioners islands-wide.

Unlike the usual situations where the government in control normally has a majority of the seats in Parliament, as well as MPs in some parishes and not in all of them, in the current situation they have total control and responsibility and must therefore be seen to be acting accordingly.

The structural adjustment program that had to be signed to facilitate the IMF loan may have some delays or other hindrance as to how the funds are made available but those should be applied across the tri-island state in the interest of fairness and the needs of all concerned.

The loans and grants from the IMF and other international organisations are indeed very welcome and timely but this is not the end of our financial problems, and how the said sums are utilized and managed will have serious effects on where we going in the years ahead.

The huge national debt of $2.4 billion is still owing and, from all the statements coming through the various channels, nothing has been paid towards that sum for years – so we are a very long way from coming out of the financial woods, even though the picture looks brighter with the latest IMF assistance.
Reads: 3313

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Enter Code

Please note that, if you are using an AT&T domain email address, e.g.,,, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

The Caribbean Writer 2014

Other Headlines:

Regional Sports: