Home' Trinidad and Tobago Guardian : July 13th 2017 Contents Caribbean Community (Caricom) leaders have called on
state-owned airlines to develop a plan of action and road map
by February next year aimed at increasing their efforts towards
enhancing their level of collaboration and coordination for
the benefit of the travelling public.
According to the communique issued at the end of their an-
nual summit here last Thursday, the regional leaders said that
they had reached agreement on key air transportation issues
recognising that member states' effective implementation of
the new international aviation Standards and Recommend-
ed Practices of the International Civil Aviation Organisation
(ICAO) for safety and airport security was fundamental to
The leaders noted that such confidence was not only neces-
sary among member states to implement many of the meas-
ures to facilitate ease of travel in the region but also for third
countries so that they continue to highlight our airports as
acceptable destination points for tourists and for the move-
ment of people and goods.
"To this end, Heads of Government welcomed the support of
the ICAO, for their No Country Left Behind Initiative to assist
member states in implementation and for their commitment
to provide resources for other regional air transportation ini-
tiatives," according to the communiqué.
It noted that the leaders had "mandated the Govern-
ment-owned airlines to continue to increase their efforts to-
wards enhancing their level of collaboration and coordination
for the benefit of the travelling public and urged that their
plan of action and roadmap be finalised by February 2018".
The leaders also agreed that the establishment of a single
airspace should be pursued and mandated the Caricom Sec-
retariat to work with Caribbean Aviation Safety and Security
Oversight System (CASSOS) and relevant agencies to define
a roadmap and identify the necessary resources for its im-
JULY 13 • 2017 guardian.co.tt BUSINESS GUARDIAN
REGIONAL | BG13
Guyana signs loan
with financial agencies
Guyana has signed loans totalling more than US$25 million
with regional and international financial agencies to improve the
education sector, and the efficiency of public payment system.
Minister of State, Joseph Harmon said an agreement was
signed for US$11.7 million with the Caribbean Development
Bank (CDB) to improve the quality and effectiveness of the
Technical Vocational Educational and Training (TVET) system
here. The country will also receive US$4.5 million from the In-
ternational Development Association (IDA) of the World Bank,
for a Special Drawing Rights (SDR) to improve the safety and
efficiency of public payment systems.
The World Bank is also providing US$9.9 million for a special
drawing rights (SDR) to improve the teaching practices and
student achievement of mathematics at the primary level, and
to improve the teaching capacity at the University of Guyana
(UG) Facility of Health Sciences.
ECLAC: Antigua and
Barbuda banks adversely
affected by de-risking
Regional leaders want
action plan from
The Economic Commission for Latin America and the Car-
ibbean (ECLAC) says 67 per cent of the banks in Antigua and
Barbuda have been adversely affected by de-risking.
This is the outcome of a regional study that is looking at
the economic impact of de-risking on the economies of the
The study, conducted by ECLAC, an agency of the United
Nations said that, on the other hand, in the non-banking sector
the figure has been considerably lower, standing at 35 per cent.
According to Belizian national Dr Ydahlia Metzgen, an econ-
omist, who is leading the study, the just completed a visit to
St John's where they conducted a series of interactions with
representatives from local , off-shore banks and foreign-owned
banks, credit unions, money transfer operations, financial
regulators, private sector non-governmental organisations
(NGO's) among others.
Belize and St Kitts-Nevis are also being used as part of the
case study for the project.
Metzgen said a study among the banking sector and the
non-banking financial services sector in all three territories
revealed that many have been adversely affected by de-risking.
"The survey results based on these entities which responded
by completing the questionnaire, showed that 64 per cent of
the banking sector had been adversely affected while the figure
for the non-banking sector stood at 51 per cent," she revealed.
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