Caribbean Update back issues from Monday, February 1:
WASTE MANAGEMENT PROJECT.
Feb 01, 1999 ... The Governments of the Eastern Caribbean States have received a combination of loans, credits and grants from the World Bank, the Caribbean Development Bank, the European Investment Bank, the European Union and the Global Environmental Facility Trust Fund toward the cost of the ...
DOLE REPORTS ON HURRICANE LOSS.
Feb 01, 1999 ... Dole Food Co., whose Central American plantations were devastated by Hurricane Mitch, said it would take a US$100 million charge due to storm damage in the fourth quarter, reports CANA-Reuters (December 16, 1998). The charge will be greater than the fruit and vegetable producer (based in ...
US$75 MILLION FOR INFRASTRUCTURE.
Feb 01, 1999 ... The Inter-American Development Bank (IDB) has approved a US$75 million loan to the Darby LAMF, an emerging markets fund designed to address shortfalls in the availability of long-term debt financing for infrastructure projects in Latin ...
US$280 MILLION LOAN FOR NEW RESORT.
Feb 01, 1999 ... Hutchison Lucaya Ltd. has secured a US$280 million loan to develop a new resort in Freeport, Grand Bahama, according to The Tribune of Nassau, reports CANA (December 17, 1998). Hutchison is a subsidiary of Hutchison Whampoa, the giant Anglo/Chinese company: The loan will be ...
COMMUNICATIONS CONTRACT.
Feb 01, 1999 ... ORBCOMM North Caribbean Ltd (ONC), a Bahamas-based company, has won the contract to market a new range of data communication services to countries in the northern Caribbean, it has been announced here, reports CANA (January 11, 1999). ORBCOMM ...
HEALTH SECTOR STRENGTHENING.
Feb 01, 1999 ... US$14 million is being sought from the Inter-American Development Bank (IDB) for a Health Sector Strengthening Program, to develop and strengthen the managerial and institutional capacity of the Ministry of Health. Consultants ...
EDUCATIONAL MEDIA CONSULTANT.
Feb 01, 1999 ... Government has received a loan from the Inter-American Development Bank (IDB) for the Program for the Improvement of Primary and Secondary Education in the Bahamas (Loan No. 848/OC-BH). Part of the proceeds will be used to hire an educational media consultant for six months, ...
TOURISM NUMBERS CONTINUE TO RISE.
Feb 01, 1999 ... Barbados has recorded small increases in the number of long-stay and cruise ship tourist arrivals for the period January-September 1998, pushing totals to almost 740,000, ...
US$116 MILLION FOR COMPUTER EDUCATION.
Feb 01, 1999 ... Barbados has signed loans totaling US$116.5 million with the Inter-American Development Bank (IDB) and the Caribbean Development Bank (CDB) to bring computer-aided education to the classroom, according to the local press, reports CANA (December 20, 1998). The program, EduTech 2000, will ...
STRENGTHENING OF CAPITAL MARKETS.
Feb 01, 1999 ... US$1 million is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) to help finance strengthening of capital markets, a program still pending definition. Consultants would be ...
FISHING FACILITIES UPGRADE.
Feb 01, 1999 ... Government will spend Bds$5.1 million to upgrade fishing facilities at Skeete's Bay, St. Philip, reports The Daily Nation (December 22, 1998). Of that amount, the European Union is contributing ...
USED CAR PARTS MARKET BOOMING.
Feb 01, 1999 ... Barbados is open to the import of remanufactured, rebuilt and used motor vehicle parts, reports the American Embassy in Barbados. Auto imports, particularly of reconditioned Japanese cars, have been soaring and with this has come a booming market in used parts. Companies ...
TWO CONTRACTS SIGNED.
Feb 01, 1999 ... Two major contracts have been signed here, paving the way for the construction of the H. Lavity College Learning Resource Center, and for expansion of the Beef Island airport, reports CANA (December 22, 1998): The new center will provide the Community College with an air-conditioned ...
NEW GOVERNOR NAMED.
Feb 01, 1999 ... The Foreign and Commonwealth Office in London has announced that a new governor has been appointed for the Cayman Islands, reports CANA (January 9, 1999). Peter John Smith, currently the British High Commissioner to Lesotho in Africa, will take over in May from present Governor John Owen, ...
AUTO IMPORT REGS (REVISED).
Feb 01, 1999 ... Regulations governing the taxation of new and used vehicles have been changed substantially in Costa Rica, effective November 30, 1998: Government issued a new decree, eliminating the ad valorem customs duty on vehicles (formerly 17% of the CIF value); reducing the consumption ...
SOFTWARE INDUSTRY DEVELOPMENT.
Feb 01, 1999 ... US$1.56 million is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) to provide Support for Development of Software Industries. ...
CONTRADICTIONS OF DUAL ECONOMY.
Feb 01, 1999 ... The contradictions and tensions generated by Cuba's dual economy, where some people have access to U.S. dollars (and consumer goods), while most scrape by on meager peso earnings and food rations, are vividly described in a front-page article in The New York Times (January 11, 1998). "The ...
1.4 MILLION TOURISTS IN 1998.
Feb 01, 1999 ... More than 1.4 million tourists visited the island of Cuba in 1998, adding an estimated US$1.8 billion to the economy, reports Radio Havana (December 22, 1998). Most of the visitors (55%) came from Europe,while 25% were from North America and 18% from Latin America. Most tourists came ...
NEW AIRPORT PLANNED.
Feb 01, 1999 ... A new airport will be built (within 18 months) at the islet resort area of Cayo Coco, 450 kms northeast of Havana, at a cost of US$10 million and 18 million Cuban Pesos, says Government, which ...
FRANCE-CUBA JOINT VENTURE.
Feb 01, 1999 ... A new joint venture between Cuba and France will soon open for business -- providing new traffic signals and road signs for the island's streets and highways. According to an agreement signed by ...
U.S. EXPELS THREE CUBAN DIPLOMATS.
Feb 01, 1999 ... The U.S. has ordered three Cuban diplomats at the United Nations to leave the country for allegedly running a spy ring in Florida, U.S. officials said, reports CANA-Reuters (December 23, 1998). They said the three diplomats were given one week to pack their bags after a Federal Bureau of ...
RICE JOINT VENTURE.
Feb 01, 1999 ... A joint venture designed to grown an eventual 25,000 tons of rice per year has been agreed to by China's Xintian Corp. and Cuba's Ministry of Agriculture. Xintian has reportedly invested US$12 million in Taichi S.A, ...
CUBA, COSTA RICA STRENGTHEN HEALTH SECTOR TIES.
Feb 01, 1999 ... The Health Ministries of Cuba and Costa Rica have expanded cooperation in the field of epidemiology and are expected to do so in electro-medicine, reports Radio Havana (December 17, 1998). ...
CRUDE OIL PRODUCTION INCREASE.
Feb 01, 1999 ... Cuba crude oil production was expected to reach a record 1.65 million tons in 1998, up 15% from 1997, and more than double the 670,000 tons of 1990. About 90% of Cuba's crude is of high sulfur content, used only in modified power and cement plants. ...
RECORD CIGAR OUTPUT.
Feb 01, 1999 ... Cuba's world-famous tobacco industry, under pressure to hike output but also to preserve quality, turned out a record 160 million Havana cigars for export in 1998, say industry leaders, reports CANA-Reuters (January 1, 1999). That figure, worth more than US$380 million in revenues for the ...
PRIVATE RENTAL MARKET GROWS.
Feb 01, 1999 ... More than 8,000 Cuban nationals have been licensed to rent property since a law requiring licensing and monthly fees went into effect in August 1997, says Mario Cabello, President of the National Housing Institute. New licenses, he adds, are ...
MEDICAL SCHOOL WELCOMES 1,000 CENTRAL AMERICANS.
Feb 01, 1999 ... A Latin American Medical School was to be inaugurated in Havana in January, ready to receive the first 1,000 scholarship students from the Central American nations affected by Hurricane Mitch, the Cuban Government reports on December 18. Construction workers have been remodeling the ...
BASEBALL EQUIPMENT DONATED FROM U.S.
Feb 01, 1999 ... The U.S. Department of Commerce has issued a license to Minor League Sports of Chatsworth, Calif.. to permit the export of US$250,000 worth of "various baseballs, bats, gloves, bases, pitching machines, uniforms and coaching equipment," which are to be distributed "free of charge ...to the ...
CIGAR FACTORY JOINT VENTURE.
Feb 01, 1999 ... A joint venture cigar factory, capable of producing 10 million mini-cigars (3 gram weight) per year, will be built by Tabacalera S.A. of Spain, CITA of the Canary Islands, ...
TRAVEL CONDITIONS UPDATE.
Feb 01, 1999 ... The U.S. State Department has issued its latest report on travel conditions in Cuba. Excerpts follow. Given the trends towards closer relations between the U.S. and Cuba, such information may be useful to the growing number of business travelers to the island: 1. Country ...
SEA DEFENSES, ROAD IMPROVEMENTS.
Feb 01, 1999 ... The Caribbean Development bank has approved a loan of US$7.46 million to Dominica for a Sea Defenses and Road Improvement Project, reports CANA (December 19, 1998): The loan is to assist in financing the rehabilitation/reconstruction, of sections of the arterial road and sea ...
BUSINESS, INVESTMENT EXPO.
Feb 01, 1999 ... The American Chamber of Commerce of the Dominican Republic will celebrate the second "Expo Internacional" from March 17-21, at the V Centenario Intercontinental Hotel in Santo Domingo, reports CANA (December 29, 1998): Participants are expected to include local chamber members, ...
US$61 MILLION FOR HEALTH SECTOR.
Feb 01, 1999 ... Government has received a loan of US$61.2 million from the Inter-American Development Bank (IDB) to improve the quality of the health sector (Loan No. 1047/OC-DR): US$14 million of this amount will be reassigned to an emergency program to alleviate the impact of Hurricane Mitch ...
CITIZEN SECURITY PROGRAM.
Feb 01, 1999 ... US$30 million is being sought from the Inter-American Development Bank (IDB) for a Citizen Security Program (ESO116) whose objective is to reduce the level of violent crime and improve public security to allow higher rates of economic growth and an improvement in the quality of life of the ...
RURAL DEVELOPMENT PROGRAM.
Feb 01, 1999 ... US$800,000 is being sought from the Japan Special Fund of the Inter-American Development Bank (IDB) for a Rural Development Program (TC9811177), which is in early stages of identification. Consultants would be hired to carry out the ...
MODERNIZATION OF CREDIT SYSTEM.
Feb 01, 1999 ... US$1.8 million is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) for a Modernization of Credit System Program (TC9704207), which is in ...
COASTAL RESOURCES MANAGEMENT PROGRAM.
Feb 01, 1999 ... US$750,000 is being sought from the Japan Special Fund of the Inter-American Development Bank (IDB) for a Coastal Resources Management Program (TC9811143), which is in early stages of ...
JAPANESE FUNDING FOR FISHING COMPLEX.
Feb 01, 1999 ... Japan has agreed to grant US$5.1 million to the Grenada Government for construction of the Melville Street Municipal Fish Market, says the Embassy of Japan in Port of Spain, Trinidad, reports CANA (January 14, ...
PRIVATIZATION OF POSTAL SERVICES.
Feb 01, 1999 ... After decades of inefficient postal service, the Ministry of Communications decided to privatize Guatemala's postal services - Directorate General of Post & Telegraph. The contract was awarded to International Postal Services of Canada (IPS), which took over operations on September 16, ...
HYPERMARKET JOINT VENTURE.
Feb 01, 1999 ... A joint venture project was recently signed by Grupo Solid of Guatemala and Price-Smart of San Diego, Calif. The project will begin with the opening in Guatemala City of two hypermarkets. The project is to expand throughout the Central American region: These hypermarket will ...
US$60 MILLION FOR POOREST RURAL SECTORS.
Feb 01, 1999 ... The Inter-American Development Bank (IDB) has approved a US$90 million loan to Guatemala "to meet the most pressing social and economic needs of the poorest sectors of the rural population: The program, to be carried out by the Social Investment Fund, will finance basic, ...
INT'L AIRPORT TO BE PRIVATIZED.
Feb 01, 1999 ... The Government has announced plans for the concession of Guatemala's two international airports: Background: A new Civil Aviation Law was approved by Congress on December 7, 1997; its objective was to establish clear rules, as well as to introduce an open market regime in the ...
AGRICULTURAL PRODUCTION PROGRAM.
Feb 01, 1999 ... US$800,000 is being sought from the Inter-American Development Bank (IDB) to help finance a Project Preparation Facility: Agricultural Production Program (GU0138) whose estimated total cost is US$1.6 million. Consultants would be hired to carry out the ...
AMATITLAN WATERSHED PROGRAM.
Feb 01, 1999 ... US$50 million is being sought from the Inter-American Development Bank (IDB) for Sustainable Management for the Amatitlan Watershed (GU0066): The program (total cost: US$100 million) would support sustainable development in the Amatitlan Lake Watershed (CLA), and would be ...
STRENGTHENING OF BANKING, INSURANCE REGULATORS.(Brief Article)
Feb 01, 1999 ... US$1.2 million is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) for Strengthening of Banking and Insurance Regulators (TC9802449), a program in early ...
MODERNIZATION OF WATER, SANITATION SECTOR.(Brief Article)
Feb 01, 1999 ... US$1.175 million is being sought from the Inter-American Development Bank (IDB) for a Modernization of the Water and Sanitation Sector (TC9811193, TC9811185), a program in early ...
TAX HOLIDAYS REINTRODUCED.(Brief Article)
Feb 01, 1999 ... After its withdrawal four years ago, the Guyana Government has reintroduced tax holidays for companies for up to 10 years in a bid to beef up the investment climate, reports CANA (December 29, ...
JOINT FORESTRY VENTURE.
Feb 01, 1999 ... A Guyanese timber company has teamed up with a Holland-based firm in a multi-million dollar "green charter" deal that will be monitored by the Dutch Central Bank, says a senior official of Willems Timber Co. (WTC), says CANA (January 8, 1999): "It's a new company made up of people that the ...
RETAIL PRIVATIZATION.
Feb 01, 1999 ... The Government Privatization Unit invites investors to submit proposals for the purchase of Guyana Stores Ltd. (GSL), Guyana's leading retail business and a state-owned enterprise. The Government wishes to sell a 70% stake in the company, with the remaining shares to be allocated among ...
U.S. COMPANY TO JOIN OIL SEARCH.
Feb 01, 1999 ... A "very major" U.S. oil company is about to join the search for oil in the offshore basin of Guyana, says Newell Dennison, GGMC's Petroleum Unit Manager, reports CANA (December 16, 1998): The company's interest in Guyana may have been a spin-off from successful natural gas finds ...
MINING ENTERPRISE PRIVATIZATION.
Feb 01, 1999 ... Government has announced plans to privatize its two state-owned bauxite companies, Berbice Mining Enterprise Ltd. (Bermine) and Linden Mining Enterprise Ltd. (Linmine). The companies will be restructured separately into new individual private companies that will each be capitalized, 60% ...
PRINTING PRIVATIZATION.
Feb 01, 1999 ... Government has invited investors to submit proposals for the purchase of 89.6% of the shares of the Guyana National Printers Ltd. (GNPL), Guyana's leading printing establishment: GNPL has 23 printing presses (7 offset, 16 letter press) and produces for the public and private ...
GOVT. RESCUES AILING AIRLINE.
Feb 01, 1999 ... The Government has provided over US$1 million for the cash-strapped Guyana Airways Corp. (GAC) to help it meet its wage bill for December 1998, reports CANA (December 16, 1998). Earlier in the week, the airline said that service disruptions since April 1998 had cost it about US$2.5 ...
AIRLINE PRIVATIZATION.
Feb 01, 1999 ... Government has invited investors to submit expressions of interest to purchase a majority stake and management control of Guyana Airways Corp. (GAC). Government intends to sell the remaining 10% to the employees of the airline. GAC's only international routes at present are from ...
LOW INCOME SETTLEMENTS.
Feb 01, 1999 ... US$25 million is being sought from the Inter-American Development Bank for a Low Income Settlements Program (GY0052): The program consists of three components: (1) incremental upgrading of basic infrastructure for unserved low/moderate-income settlements; (2) policy reform and ...
PUBLIC ADMINISTRATION PROJECT.(Brief Article)
Feb 01, 1999 ... Guyana has received a US$12 million credit from the International Development Association (No. 2480-GUA) to maintain and improve the capacity of the public service to perform its functions. Part of the credit will be ...
WATER METERS, METER-TESTING EQUIPMENT.
Feb 01, 1999 ... Government has received a loan from the Inter-American Development Bank (No. 909/SF-GY) for the Georgetown sewerage and water supply system. Part of the proceeds will be used for the supply and installation of water meters and meter-testing ...
ENVIRONMENTAL MANAGEMENT PROGRAM.(Brief Article)
Feb 01, 1999 ... Government is being assisted by the Inter-American Development Bank in establishment of the recently created Environmental Protection Agency (EPA). Applications are invited by February 15, 1999 for short-term ...
PREVAL FORMS GOVT. BY DECREE.
Feb 01, 1999 ... President Rene Preval on January 11 bypassed the Parliament to form a government by decree, provoking an outcry from opposition politicians and some businessmen. His choice for Prime Minister, Jacques-Edouard Alexis, promised to form a government and hold parliamentary elections as soon as ...
REHABILITATION OF ROADS.
Feb 01, 1999 ... US$50 million is being sought from the Inter-American Development Bank (IDB) for Rehabilitation of National Roads (HA0087): The program would consist of: (1) rehabilitation of 240 km of the primary road network; (2) the experimentation of new project execution modalities in ...
NEW INVESTMENT LAW.
Feb 01, 1999 ... The Honduran Congress finished its annual legislative session on December 18 with an extraordinarily productive final six weeks. Spurred to action in the aftermath of the Hurricane Mitch disaster, Congress passed important legislation that had been languishing. These laws are generally ...
EMERGENCY LOANS FOR INFRASTRUCTURE, WATER.
Feb 01, 1999 ... The Inter-American Development Bank (IDB) has granted a US$45 million loan for the Emergency Program for Road Infrastructure and Drinking Water: US$35 million will be spent to repair and build roads in the City of Tegucigalpa, build the bridge over the Rio Nacaome, and repair ...
MUNICIPAL DEVELOPMENT PROGRAM.
Feb 01, 1999 ... Government has received a US$63 million loan from the Inter-American Development Bank (IDB) to cofinance a Program of Municipal Development for the Central District and San Pedro Sula (Loan No. 1024/SF-HO). US$21 million of this amount will be used for an emergency program to finance ...
POTABLE WATER FOR SAN PEDRO SULA.
Feb 01, 1999 ... US$700,000 is being sought from the Multilateral Investment Fund of the Inter-American Development Bank (IDB) for a Private Sector in Potable Water in San Pedro Sula Program ...
TRADE EFFICIENCY, EXPORT COMPETITIVENESS.
Feb 01, 1999 ... US$1.5 million is being sought from the Inter-American Development Bank (IDB) for a Trade Efficiency and Export Competitiveness Program (TC9811094), which is in early stages of identification. Consultants ...