The Grenada newsletter

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Title:
The Grenada newsletter
Physical Description:
v. : ill. ; 36 cm.
Language:
English
Publisher:
A. & C. Hughes
Place of Publication:
St. George's, Grenada, West Indies
Publication Date:
Frequency:
twenty no. a year
semimonthly
completely irregular

Subjects

Subjects / Keywords:
Periodicals -- Grenada   ( lcsh )
Politics and government -- Periodicals -- Grenada   ( lcsh )
Economic conditions -- Periodicals -- Grenada   ( lcsh )
Social conditions -- Periodicals -- Grenada   ( lcsh )
Genre:
newspaper   ( marcgt )
newspaper   ( sobekcm )
Spatial Coverage:
Grenada

Notes

Dates or Sequential Designation:
Began in 1973.
General Note:
Description based on surrogate of: Vol. 11, no. 1 (Jan. 22, 1983); title from caption.

Record Information

Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 24157414
lccn - sn 91021217
Classification:
lcc - F2056.A2 G74
System ID:
AA00000053:00434


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.* .W.. C iNTRE MIBRAIZ!
")OOL OF CONTINUING STUDIES




The Gr enada____-



NE .WSLETTER

I Volume 20 Saturday 18th January 1992 Number 1


0AT
DB E


A iT


ro, ,.


People are net qoiinq to be as
shocks uas U tlhat waii th e


pr~ovns.Uue a


RIH1E MINISTER NICHOLAS
r Brathwaite disclosed at a press
conference on Jan uar 1fth that
February 10th has beenr te nta-
ti-e'l fixed as the -da on ich Miser
.of Financ Mr Geore Brizan. win present
.I Grend. 's 1. 92 bud;t. to Parliament.
i'efore the ctuai presentation o. f the
iiudget," he said, "we are Log to j3
dsai"ng with certain specific areas i so
far as we can prepare the nation- for what
wl, be covered br adly in the Budget."
Emotive Words
Asked Ihether t ,is pgin wi s to Dre0are
the nation for the shockk" of the Budget,
IthP rime M-inster said he did not want
to use "emotive wosrdsL'.

He has mane it clear, he said, that
government has to take some tough
S decisions and Grenadians will have
to "bard their belly" (prepare for
. hardship). However, he said, he
feels people are not going to be as
shocked as all that with the Budget
provisions_


NOT TO
FROM


PRIME
NIC HOLAS


. 1

MINISTER d
BRATHWAITE


The numberr one priority for 1992 is to
baa!nie the budget, Mr Brathwaite said,
- cause, when this is not done, a national
prn-m is created. Governmn-ent takes
ioneiu trom the banking system, he said
.iniiiuy -i"iCh could otherwise have been
available to the private sector for


develop mernt.
4 IN THIS ISSUEE


Brathwaite Warns Of Tough
Budget Decisions .---...... ...-- .
RCA To Meet In Grenada.............. 2
Brathwaite Replies To Noel...... 4
ARCDP Project Completed..--...-. 6
ECCB Reports On Grenada
Ecq m ..---.....-..-- ............----- .. .. 7
ew shorts--......-..--..-.........-------- 0


AnotherI problem, he said, is that donor'
countries are not prepared to provide!
assistancec to c un Trie wMich are not
Please See BUDGET RPae 2


BE TAKNP
LIBRARY,


Budget


P .
;
-- e I


I i
1 i
i i
!1
i j
i

r
j




1,',


The Grenada Newsletter Saturday
------------ ;
'".....if ers is wide s co1nssISIs
rcnnut s5afe9 tlk b. about a ni
the reason tat yisF hFaw
natural, national sens


RCA TO


IN GI


a


M


vW i


SHE WEEK-LONG FOURTH
meeting of the Regional Con-
stituent Assembly (RCA) opens
in Grenada on January 20th
and p-incipal aim of delegates wil be to
find consensus on the form political
unification of the Windward islands should
I 4. e.

This was disclosed at a press conference
n January 9th by Dr Frencis Alexis, Gre-
nad:'s Attorney General and Chairman of
She island's National Advisory Committee
. the :CA.

BUDGET From Pae I
taking active measures to balance their
budget.

Salancing the budget is also vital in
providinG Government with money to be
tised as counterpartt funding when
Faplying to organisations such as tho
arhibbean Development Bank for 1oans or


0ra4nts fo-r pub-
;ic sector invest-
Urient dove lopmeny fr
Bro ti!waite said.

rhe Pirimr Minister said oer-
Hra inome tax in its reg-
~. Iar forjm will not be reintro-
.. -- as one of the revenue
ear.n- measures of the i992
,udget,- but, with certain modifi-
nations, the Debt Service Levu on sala -es


!wii continue.

Persona- income tax was abolished in
S:86 by the Government of the late Prime
.P.in Ii, .. h ,+ +7 -





18th January 1992 Page 2

nmonsq kCA deldsates that 9ow
itary form of government for
to makes provision for










"That aim can be
narrowed f i t further ,
e said, neause, Die Fiulnces AL uas
lgenesallC sCaak-
inq, t re s wide consensus among RCA
at that I yu cannot safely talk
about a itary form of Government for
the ri -lon tpat you have to make provisi on
for nea. ur! iation l sensibilities .........

The RCA was appointed by the Govern-'
ments of arena da, St Vincent, St Luciai
and Dominira, th-e Windward Islands, toJ
canvass public opinion and prepare a pan
Pineas See RCA Paej 3


or not it would be reintroduced was anI
imrotont issue in the General Elections i
of March !990 and Mr Brathwaite's Nation al
Democratic Congress (NDC) pledged it would
not be reintrodduuced.

,ow.-_,er, with expressions of regret, Mri
Bri zn presented his i991 Budget with a
tax of 10%
I on all per-f
sona! in-f
comes over
EC$12, 000
per annum.

"I could hardly find the
words to des-f
cribe the an-!
guish and soul-I
searching that
tortured the"
Cabinet in thel
last month in'
reac ing- a decision on this matter thei
Minister of Finance told the nation at I
that time.
Please S~ee BUDGET Pae 3









RCA From Page 2
for potical unification of the four islands. the ..question had arisen as to whether
There would be more than four meetings
The firt :meeting w held in f th Assembly. He was unable to say
Vincent in January last year and there whether there will be more rneetinQs
I/ave been subsequent mee tins in St than h e four originally planned and he
Lucia and Dominica. The Grenada meeting 'exprssed thei opIion that this would
was scheduled to be the depend on progress made at the
ast at which final -Gl T., Grenada meeting
d ec s1o ns

Se rf r e em ernr nL In
'wuid be n read J 3 C What s
r d U M S L All e:--xi
ars held n all the islands to .confirm aida i a movement towards some federal
.publ.ic acceptance that there shouLd be form of government and it i hoped the
iunificat on RFA Grerada meeting will come more
Acceptable To Th Pubic specific to conclusions- as to thi
The plan is that, in the event of a es" federal form of Government and how the
.te in those refe-rendum, there would wers are to be distri buted.
. -- ., -._
further ref rendui s ito dec ie on th
iorm of poni .umfiction accetabL if there is n attempt to do this in
o the public. detail, "doomsday will catch us
.still thinking about regionalism",
Ale-is tod the. press conference he said, and it is his opinion that a
I--owver, that since the first PA meeting g, start must be made on the areas oni


B11 GET From Page 2
i drrathrwalte said a team, led bLy Mr
R-7 i an,- would leave Grenada on January
S 4i or .5. -.. ..... 0 1e n..
jth or 1th to hed discussions n
'lashington with the international [on- i
a etry Fund (i) anid ,W Rld Bank with
S0reerence to Grernada' 1992 Bud et.

SThat team will explain to the I-F the
i 'ructural adjustment programme i
which the Grenada Government has
Ir 1 'he d1 d 'a .- Ia 1 v r- r n r .
esgne, he said, and get the "broa
endorsement of the plan by the !F.
i -TI
S"Ihe I-F will then be able to sa
Sto the donor countries, 'We are
t satisfied these people are doing
Se best they can at this time "
the Prime Minister said, "and that
Swil mean that donor countries will
e prepared to support us in impe-
Smenting ourpublic sector ive stment
i orgramme."

Mr Brtwate said the measure which
"i' t!l be pt 1 iin place b the Budge- t wi'
be in the best interest of th-.. :unui i
| 'n, he believes, that, a year ahead fro m
S.now, Grtand wi ll e experiencin I
A: I__ I..-


in stages of an economic recover
i L


which there is consensus-
Matters Under Control
Thos areas: include consensus that
foreign affairs and defence, regional
economic planning and tertiary educat-
ui! should b!e m matters under control of,
the Crntral Government, he said.

The consensus is also that the State
GoverniPments will handle Communicationsc
and orks, Dr Alexis said, and that the
Pera See RCA Page 4
I ----r-l- -I II~ p '1 I(l


Crevada

NEWSLETTER
PFounfd 17th August 1973
S 9th Issue
SCOLUMIA UIaIIEEaTY
SMARA MOORS CABOT AVARD 1W94
Subscription Rates
Payable In Advaence
Sanage Paid By Secmd Class Airmail
Unlamd Ps.t I. Grenada)

Ii
i0 Issues $11510O $ 43-00

2- 1.eC $207O0O $ 77o00

E4 Issues $3000 $146.00
oAbut -20 sues Pubished Anmally


1.





Ii





_


- -- bl


i


i The Grenada Nevsletter


Page 3


Saturday 18th Jan-uary 1992







SThe Grenada Nevsleter Saturday 18th January 192 Page 4


B RATH WAITE



REPLIES



TO NOEL
Thcre had bet n
Sneqligence with reference to
Uhailrt mfney wadranc6es
accounted for but- steps hatd
hbesn taken to correct this


IzmuIiI mmw-" "-- I





- ,*I .:






i .
PRIME MINISTER


S it atioru NICHOLAS BRATHWAITE
HE FACT THAT GOVERNMENT MONEY WAS NOT ACCOUNTED FOR DOES
not mean that that -monney was not properly spend .

IT $ rPrime Minister Nicholas Brathwaite stated this at a press conference on
JanuaryIOth as he replied to an article appearing in the "Grenadian Voice" newspaper
of January 4th under the headline "Now it is six million, six hundred and thirty-two


R CA From Page 3
Sform of Local Govern meant in each island
iay ha,:ve to reflect local thinking
Elected Or Nomlnated
Te Srenada meeting, Dr Alexis said. wil
discuss whether Parliament wil be uni-
Ior bicameral, whether 1l its members
'w-'I b elected directly by the people in
Sthe Win-dwards or whet-her there will b
|representtion for sector groups, snd
whether there is to be an elected or nom-
inated Head of State.

"There is a clear consensus among
pRCA delegates from across the sub-
region that there should be political
unification of the Windward islands',
he said, "The two outstanding issues
~nerefore are what form should the
un f cati on take and at what time should d
it be instituted."

IA. fa-r as the timing is concerned, he
said .diews are divided as to the speed
i-,th which unification shod be
Sifplmente d. His view is that it s oul
ie "brought to a head as soon as it is
i feAi possible to do so as there is no
i sen-e in "prolonging the agony."


thousand down the drain"|

rit tenby prominent barristerand columnist,
Mrtioyd Noe, the articlequoteda confidential
submission made to Cabinet on November
22nd ist by Miinister of Works, Mr Tilman
Thomas, l' reference to the Road
Rehabilitation Project which started in
September 1990 and was to cost EC$7
million
Asked Cabinet's Authority
hh. submission said advances of
-EC$-,62 -7 made n connection with
te et had not been accounted for.+
n the s~mi-ssion the Minister asked
Cabinet s authority to close the project
Please e REPLY Page 5

The Prime Ministers of the four islands
will lead their delengtions to the Grenada
.0
me-ting which will be presided over by
the PCA Chairman, Professor Telferi
Georges- Feature address at the opening
cereronuy l be delivered biy Grenada-
born Lord David Pitt.

The holding :of the meeting in Granada is
estimated to cost EC$200,000

. ..... .........5S








I The Granada Newsletier Saturday 18th January 1992 Page 5
I


"How can a Government and Cabinet which
meets every week be so careless with
taxpayers money as not to be bothered to
keep a running supervision and allow nearly
seven million dollars to be unaccounted
for?" Mr Noel asked.

Mr Noel feels that "this latest criminal
act or omission" goes beyond the


"if there is any discrepancy then that
will have to be dealt with." he said.


With reference to
confidential Cabinet
available to Mr Noel,
said he had no idea
occ re d.


the fact that a
submission was
the Prime Minister
how this leak had


individual and encompasses the collective "" Public Officers would perform their
responUsrilty of Cabinet. The Prime duties in accorFdance with the fervour.
14, p. ea e confidential
Minister, he says, should ask the Governor with whri te, perhaps, make confidential
General to dissolve Parliament and set a Infolrmation available to the Press," he
date for GLeneral Elections. .i ." wouid be muh more beneficial
"tr i. tr -i ng effi1ie":y in the Service
"Any. other coure of action w-ould be a and providing quality: service to the
... ........ .... .. ...... .... ..-... r .
- ....i4 ." .... -... -.... .. .- ,v .- .,v ..... ... ..... . ... .. ".-. j ..-,.,,

:: ::: .. :::: :: :::The Prime Ministe
m.s t .J ii id the very action,
r.n'''Y~.... Government
.1 j l t .I p. " .......... ....i..... ...... y........... .... .'.......'.;.. ........::;;G-ve r n -- n t [
eact o t ru, s has taken toi
Mrr N'oel say s, ..........
and A 1 d l 33
-.. .-.::::-.. . . . . -:.:.:.:... ..: ... .. . .*.* . . ..... . .
-ea. e Cm, Pie r
-trates with a t. ..t.rn-.
ative but to 3sa emphat- "
icealy and to demonstrate openly that. ensu that the Financial Rules are!
he/she is not prepared to pay one cent of Joiloweu is the reason put forward by Mr


any taxes while the current lot remains
in control of Government."

Mr Brathwaite told the Press that a
new "culture", not consistent with
the Rules laid down, had developed
in the Civil Service There had
been negligence with reference to
having money advances accounted for
he said, but steps had been taken to
correct this situation-
A.! . ~~ 1 -e-
then it was drawn to Cabinet- attention
that advances of money relative to the
Road Rehabilitation Pro.ect had not Cben
accounted for, the Prime Mfimster said,
the project was closed down anrd instruct-
ions were issued that there must be
accountability.

The Permanent Secretary in the
Ministry of Works has since advised
him, he said, that accounts relative
to advances of money have been
submitted and have been gone through
in detail. He expected a full report
on this shortly.


Noei for


the Government to resign.


That is the reason put forward for people
not to nay taxes and so bring the
g- v. h,,e down, he said, but he is
satisfied that, uite to the contrarU,
o-ernment should be commended on the
action it has taken.

rv?"f g3 ammmem II m


Earl in the 1781, the French attacked
ToYagu h:ich was then held by the British.

Ha g effected a landing, the French
commander, knowing that most of the
British militia were owners or managers
of the estates on the island, ordered the
urrning of four estates every four hours.

To save their properties, the militia
surrendered and the officer commanding
the Bi-tih regulars, Maijor H F Stanhope,
m.ade terms r with the French. He was
court mars-haIed for doing this without
c.nsu!i ina the Lieutenant Governor but
"5S acquitted "-most honourably".


!








Saturday 18th January 1992


Crops exportd, incmlute wide "
vPrietyj of t TpicL R PHINSLY ST LOUIS
fruit /\

and vseet Ibes with
Londoni bgsi thl in in Januaru 1986.


Sess tinatrion
i R PHINSLEY ST LOUIS,
Minister of Agriculture in
the Grenada Goyernment.
said at a press conference
on January 16th that, as at 31st Decem-
ber last, the Agricultural Rehabilitation
and Crop Diversification Project (ARCDP)
,nad come to an end.

"The objectives of this Project were
to expand production and to promote
marketing of crops for export, do-
mestic consumption and agro-
industries", he said, "and the major
focus was on non-traditional crops."

ARDP w-as a joint US$6.9 million project
of the World Bank, the Government of
;renada and the Caribbean Bank, and it
had three components. These are (a)
-r.dit for expanded production of
:oecified crops, (b) the building of infra-
structure and (c) institutional strength-
en4in.
Was First Discused
According to Senator Desrmond uiol
Parliamentary Secretary in the rMnistrj
of Agriculture, present at the press
itnference, the project as irst dis-
cused with the World Bank by he Peo-ple
IRevloutionary Government which was
overthrown in 1983.

IThe newly elected Government of the
late Prime Minister Herbert Blaize
|i,,mpneted the negotiations with the
I World Bank in 1985, he said, and the pro-
lect was officially implemented in


Dr Winston Phillip, officer in'
charge of the project, also
present ar nw press conference, said, for
a number of reasons, it took time to geti
thins into .place and the project did not
get under way effectively until 1988.
Success Of The Project
Taking i165 as a base, he said, statistics
covering the export of non-traditionl
crops by the National Marketing andf
importing BLoard (MN iB) show the success
of the pnroect.

In that year (1985), some 30,000O
lbs were exported, he said, in 1966,:
the figure rose to 58,000 lbs, and in
1907 it dropped to 49,000 Ibs- In
1968 there was a dramatic increase
to 259.000 lbs, in 1989 it was,
460,000 Ibs, in 1990 it rose to 1.2
million pounds, and the 1991 figure{
is likely to be also about 1.2 millioni
Ibs

Another exporter of non-traditional crops
is the Productive Farmers Union (PFU), Dr
Phiilip said, and this organisation export-j
ed 16i 00 ibs in 198- In the following
iyear that figure rose to 205,000 lbs, in
1990 to 25400 bs and the 1991 figure
IC+ Jttj 2YC IjC 1ki..
is estimated at 500,000 Ibs.

Dr Phillip gave the combined annual
export earnings of MNIS and PFU as
EC306,000 in 1908. In 1969 is;
was EC$769,000, in 1990, EC$1.8|
million, and about the same figure
for 1991.
Plase See ARCDP Page 7


--~--` ~--------------~


i 'Thee Grenada Newslette


Page 6







The Grenada Nevslktar .a : JL auary 1992 Pae 7
11 m m m.


Kb -


(frff rTaL

M "I1|


mansion

I90
5.0%
16.1%

10.9%


Since the 1986 Fiscal Reform Programme, the Central
Government has been incurring chronic account deficits

HE EASTERN CARIBBEAN transport and communications.
Central Bank (ECCB), n it
Report for the financiai year | The following statistics of expi
ending 31st March c -19. re given
says that, in that year in Gre ed 1989 1
the Agricultural Sector racrd'i Hotels 10.9% 1
negative growth. Restaurants 8.1% 1


it says also that the Con- 'a
struction Sector, another
indicator of the state of the
economy, expanded t a
reduced rate.

"Thus, services which, as
a group, expanded at a rate
of 5.3%, provided the main
impetus to growth in the Grenada
economy," the Report segs.
Was Reflected In Expansion
Analysing the Servic, Sector, the Report
says the creditab'e performance of
Tourism was reflec~od in exp ns- : i of
hotels and restaurant? and, indirec.: i

ARBDP Pr n Page 6
Crops exported include -aide .'ani't
of tropical fruit ard vegetabiss I h
London being the rrin -e:z. ti .j c. I:
Some exports have gn as t:o Hoil- j
I n rl tha initr, o S- Q. tat oc if i,- rim n


Dr Phillip said Governmentr's stis'tta-
ion with the success of the project i.:
shared by both the World Bank and the
Caribbean Development Bank. Ad't-
ional funding is needed to keep :-he
Momentum going, he said, and bctri
Banks have expressed willingness to
consider any proposals Grenada may
have in this connection.
I Fi it


Tourist
SArrivals (4.2%)*
*(decline)


The 40.9% increase of
STourist Arrivals in 1990
brought the number of visitors
to the island in that year to
270,728.
Increased In 1990
According to the Report, the number of
stay-ovr visitors, which has been on an
up-ard trend since 1986, increased in
!-90 by 19.6%S and reached the total of


-E9 deLtails of that percentage increase,
shiowin source countries, are :-


..:ited States of America
Canada
Jvted Kingdom
C. riSbean Community


Increase
71.8%
18.6%
2.3%
3.8%


I -ree countries, USA, Canada and UK,
e-.u cited together for 43.6% of all stay-
v Ar i sitors, the Report says, and Grenad-
.ails -eturning on vacation remained at
appro ,.mately (sic) 16,198.

Cru1'e Ship arrivals recovered from the
derline in 1989 and rose by 51.7% to
accLunt for 68% of total visitors, while
the number of excursionists almost doubled
to 5,56 1, the Report says.
Plfe see ECCB Pane 8


1 we ECC Pan a I


I


z





.6:


The Grenada Nevsletter Saturday 18th January 1992 Page 8
: 4 ': '


ECBCe rom Plae 7
ltconomc actvity in the service sectors
!was also boosted by expansion in the
fwholesamle trade, retail trade, banking
land insurance," the Report says, "each
recording growth of approximately 4%."'

Turning to the Agricultural Sector, the
Peport says 1987 recorded an estimated
i36% growth but expanded at substantially
reduced rates in the subsequent years.

t. declined by 0.8% in 1990 and, as a
Result, Agriculture's share in the Gross
LDomestic Product (GDP) declined from an
average of 20% between 1988 And 1989
to 16.9% in 1990.
Reduced Export Earnings
The Report attributes the contraction in


the Agricultural
Sector to a decline
in banana product-
ion and reduced


resulted in drastic reductions.

in 1990, nutmeg production declined
by 14 1% to 2,635 tonnes while pro-
duction of mace, the lacy covering
of the nutmeg shell, dropped by 24.5%
to 227 tonnes.

"After remaining stagnant over the past
five uyars' the Report says, "production
of cocoa increased by 28.6% to 1,875
tonnes. During the year (1990) the
industry benefitted from a series of
incentive programmes in the areas of
credit facilities and farmer training
which were intended to revive the cocoa
industry "


0. 1 .


EXTRACT FRO
At the CARICOM I
to accelerate th


export earnings gration and give
prom nutmegs and The challenge
rnace. one of reconsti
forming economic
Larmers are .
Farmers are ~ through long per
moving out of the 1980s, result
banana culti-
nana culti- confidence, sever
nation into culti-
crises. very heavy
ration of other deteorati
ness, deteriorating
rim crops, the
Scraps, the loss of vital
eDort says, immigration-
Sresulting in a Ln
decline in the area
I co-mmitted to large scale banana
production. Also, the industry is
'iaflicted with moco disease which
Contributes both to a decline in production
land deterioration in fruit quality.

The result has been a decline in
banana output of 5.5% in :969
Followed by a further decline of
10.3% in 1990, the latter year
recording exports of only 7, 20
'tonnes-

With reference to the export of nutmegs
and mace, Grenada and Indonesia, as the
Oniy two commercial producers, share
Sthe world market on a ratio of 75_ to 25%
in favour or Indonesia.

!A Marketing Agreement entered into by
Ihe two countries in 1987 dramatically
improved world market prices and the
collapse of that Agreement in 1990


M ECCB REPORT
Leve!, there is need
ie process of inte-
it a clear direction.
facing CARICOM is
ructing and trans-
es which have gone
riods of decline in
nc in loss of investor
Balance of payments
y external indebted-
ig infrastructure and
manpower through


Referring to the
Construction
Sector, the ECCB
Report says
there was a boom
between 1966
and 1989 when
growth in its
value added
averaged 15%.
In 1989 and 1990
the number of
building permits
granted declined
respectively by
4.1% and 9.1%.
In 1991, this


sector grew at the reduced rate of 9.5%
but its contribution to the GDP increased
slightly from 12.7% to 12.91 as compared
with the previous year.
Small And Fragile
According to the Report, the Man-
ufacturing Sector, based on pro-
duction of alcoholic and non-
alcoholic beverages, and a few light
manufacturing industries, remains
relatively small and fragile.

its growth performance continues to
fluctuate and 1990 growth was estimated
at 9.6% due to the creditable performance
of t.eh bvperace sub-sector.

Lurinii tihe year, production of malt
de lined by 14.2%, but production of beer
increased by 24.4%, stout by 9.6%,
iGunness Malt bi 19.3% and soft drinks by
14. %.
Please See REPOT" Pa e 9


---~~---I








The Grenada Nevsletter Satirdy 18th January 192 Page 9


REPORT From Page 8
In other sub-sectors, production of
poultry feed increased by 5. 1 i ut
production of flour and wheat Lran
declined respectively by 5.4% and 2.5%.


The rate of inflation i
by changes in the c<
was estimated at
37% as compared
with 3.6% re-
corded in 1989


The
"food,
tobacco"
Largest
Jin the


category
drink and
has the
"weight"
"basket"


and this rose by


n 1Q990, a measur-ed
consumer price index


which was accompanied' by a fall in
domestic export earnings

Details -f this are that domestic export
earn declined by 6.3% to EC$71.
million while payments for imports


increased. b 6-.5 to


-- ii
SORRY! I
Volume 19 is the NEWSLETTER vol--
ume number for publications in 199t.
in error, however, the issues of 9thS
November i991 2Jfrd fovemler
1991 and 7A DecRnember 1991 were a
al! printed as 'Volume 18'. Please i
correct your records. I


4- in 1990 as compared with 5.5 in
1989. Price increases in te uth er
categories were moderate, the Report
sais, except for the price of "ful and
light" which, in 989, rose by 3.4% but
juRmped to 17.44% In 1990.
Chronic Account Denfc-s
"Since the 1986 Fiscal frm P-
gramme", the ECCB Report says, "the
Central Government has been incurring
chronic account deficits.'"


EC$295.5 million,
resting in a
visih1e trade
imbalance of
EC$22.4 million.

The balance o
payments was
f avourabli
affected by in-
creased foreign
exchange earn-


ings from the Tourism industry, the Report
says but although receipts from travel
n1990, _hay w-er inadequate
to cIose th current account gap.

Prive irect investment and transfers
,increase j m J::iu. the Report says,
jut o.i 1ial in-flows, and, in articularar,
ioan financing, closed the g.p on the
balance of payments.


Adverseliu


Affected


According to the L eport, it s. expected


There was a small
in 1988, equiva-
lent to 2.6% of the
GDP, but this was
completely erod-
ed in 1989 when,
due in part to
payments of


current account surplus


that flu'trher c.pansion:


EXTRACT FROM ECCB REPORT
The economies (of the countries I f i
the Organisation of East CaribbeUn t
iStates) have been daependt on the I
success of the banana and tourist i|
I indil tstrisr bRec florw-


in Tourism would
sustain the level
of economic
gro'h-- in 1991.
Ho- a.r, while
er- .igs from the
export of cocoa
were expected to


:rtnhrs o LQI E- t I iMl && d
'-ies t Civ a-remittances -nd foreiQn investment increase, domes-i
Sfin th i for their .rowth. The man-factTri i !i p0rt earn-
S.secrv? nts in .at |- a.d be
i.ear t he deficit d I rs e
'roe to 10.3% of 1 3ed as expected d, e in most part to r s e I
r i S efto 10.3% y tihe
n p-, There te problems of CARICON and thel Af d- i the
,i ,gm. m- fact that the in structure is still pro d fall in
soment im- not a de"t q fo aBia-Ltati. U hel -Ie t m
I e the Repnot grwth proc. e rncil nas and nut-
,, .. the Report r .-- ,
sys. when the sector is un.derdfvaipd a the as
s- whIen the II 1
-,1ait gps a 1 the me-dim -., .ont ed 1d
ueH1 iit amounted n CP
i- ,-f theGP need to be f filed as J mater of a t E et-
"" ...- the fD- l. I -... ^- ... t.-ie
urgency. it v .hai
0 7 .... ..! o ein on ith t a
"oncerning the Balance of Payments, the ,ee deThyonwntc oeether wvith the
eporrt says the imbalance on the vis e iprcted fisca imbalance would
tA id account, whicn widened sharp n ncessitate increase capital inf ows in
:6.9, increased by a further 4.4% in 0 -
1990. This widening, the Report sas. ,
was due to a rise in payments for imports __




.1.W.I. CENTRE LIBRARY
SCHOOL OF CONTINUING STUD B


The Grenada Nevsletter Saturday January 1992 Page


cTEWSc S'HORSm
4LitaVL biaki1J&


Cholera In CARI


the Government information Service (GIS)
reports that a release from the Pan
American Health Organisation (PAHO)
discloses that there has been a confirmed
Case of cholera in Belize.

This case, the first of the disease to 0e
Reported in a country of the Caribbean


Sou Proud symbol of o1



Community, involved a 27 year old man
from Punta Gords.

PIPAHO reports also that cases of cholera
have been confirmed in Venezuela. The
Sfist was reported early last December
~nd is said to have entered the country
,Ji from Colombia.

SiSubsequently, up to December 31st,
' Venezuela has reported a total of 15
cholera cases.


Regional Ministers To
Talk Bananas

uGovernment Ministers fr m the Ciari' ea
Community (CARICOM ant:; from Centra!
1. -
iAmerica ha/e agreed to ke.p in c'ose
liouch with reference to impication-: of
jthe European Single Market for the Ba;ana


industry.

A release from th e Govenment information
SService (GIS) says this decision was teken
at the First Economic Meeting of Regional
Minsters hpod in Belize on January 10th.

Present at the meeting were the Prime
Ministers of Belize 'and St Lucia and


1inisiers from Costa Rica, Dominica, El
Salvador Grenada, Guatemala andi
Honduras. Grenada was represented by
ir rPhsiey St Louis, Minister for
Anri cu c t. ure.

Accrdnq: to GIS, the meeting also decided
to ednot harmonisation of tariffs and
free tr de between the Caribbean and
Central America, and to develop socio-
ec-nomic co-zc.ration between the
regions wih a view to mr.oving towards
f. i 8ntegratin.


New Nursing Class


Twn'y- tour student nurses were
weic:mo officially to the 1992-1995
ener1a Nursing Course which opened at
the Gr-enada School of Nursing on January


6ester Hughei
i th January 1992
PrinteT & Puiblished By T-s Propiieor
Alister Hunghes, Jeuralisi,
Of Scoa Street, St Georges,Grenada, Wes Uniaes
I I(P.O.Box 65: Phone [809 440 2538: Cables HUTSON, Greidaf.)


NOT TO
FROM


BE TAKEN
LIBRARY.




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