Hubert Ingraham has refused to speak with leaders in the Bahamas on the global economic crisis, but this last Saturday he was at a Caricom bureau meeting discussing global financial crisis. The Church, the Chamber of Commerce and the opposition have all requested a summit to discuss ways to deal with the crisis. However, the ‘BOX HEAD MONK‘ refuses to listen, just as he did when he STOPPED, CANCELED and REVIEWED over $90 million in capital work projects which kicked thousands out of a job! AGAIN BAHAMAS PRESS SAYS, INGRAHAM HAS DONE THIS TO THE BAHAMIAN PEOPLE! Ingraham is A SHAME OF Bahamians!
St. John’s, Antigua: The global financial crisis and its impact on tourism and foreign direct investment in the region were among matters discussed at the 24th Meeting of the Bureau of the Conference of Heads of Government of the Caricom Community in St. John’s, Antigua Saturday.
Prime Minister the Rt. Hon. Hubert Ingraham participated in the Meeting, along with Bureau members the Hon. Baldwin Spencer, Prime Minister of Antigua and Barbuda and Chairman of Conference, and the Hon. Dean Barrow, Prime Minister of Belize.
During the meeting, the Bureau received a report from the Committee of Central Bank Governors on the implications of the global financial crisis for the region. The Committee recommended to Heads that Caricom Governments continue appropriate prudential measures regarding foreign exchange reserves, deposit insurance, capitalization ratios, local asset ratios, cross boarder supervision and supervision of non-banks such as insurance companies and pension funds.
The Committee also urged Governments, where appropriate, to encourage a change in the composition of bank lending toward more productive and export-related activities, to streamline contingency planning with respect to financial and non-financial sectors and to undertake public investment programmes that create jobs and facilitate production of tradable/export goods.
It was noted that the Caricom banking sector was spared many problems because it does not hold toxic mortgage-backed securities and holds very limited forms of other types of exposure.
The Bureau urged multilateral financial institutions (IFI) to show greater sensitivity toward small vulnerable economies in this period of turmoil. In particular, the IFIs were urged to reverse the practice of graduation based solely on GDP per capita.
Members of the Bureau meantime reiterated the call for increased democratization of the international financial architecture and encouraged the Committee of Central Bank Governors to continue its work with respect to contingency planning in the financial and non-financial sectors.
Tourism and Foreign Direct Investment
Regarding the impact of the financial crisis on tourism and foreign direct investment in the region, Members took note of the World Tourism Organization’s (WTO) report indicating that tourism worldwide had grown by 7% in 2007 but is expected to grow by only 2% in 2008.
Tourism from the United States – the region’s principal market – is expected to be down by 6% over thanksgiving.
It is projected that Caribbean tourism will experience negative growth next year. Heads discussed measures being taken by some resorts in the region to attract guests including price slashing exercises.
The Bureau also took note that a number of development projects, particularly tourism and hotel related projects, have been deferred or postponed as a result of the international financial crisis, and expressed support for the efforts of the Caribbean Tourism Organization (CTO) and Caricom Tourism Ministers in mounting an enhanced marketing programme for regional tourism.
As for trade, Heads discussed the implementation of the EU-Caricom EPA, indicating that Heads expect to endorse the negotiating mandate that will guide Caricom negotiators in discussions leading to a Canada-Caricom trade and Development Agreement.
2008 Atlantic Hurricane Season – Assistance for Haiti
The Bureau also discussed the impact of the 2008 Hurricane Season on members of the Community and agreed to recommend to the Conference of Heads that notwithstanding assistance already extended to Haiti by a number of member states, consideration be given to a further contribution of $2 million from member states to the country severely impacted by four hurricanes and tropical systems this summer.
Members noted that there remained an urgent need to assist the Haitian Government in the delivery of food, particularly to communities left isolated by roads and bridges washed away during this year’s storms.
The recent presidential election in the United States was also discussed by The Bureau, which identified priority issues for engagement with the new administration.
Additionally, the Bureau reviewed preparations for upcoming scheduled summits: a Summit between the Heads of Government of Caricom and the president of Cuba on December 8; a Summit of Latin American and Caribbean Presidents and Heads of Government to take place in Bahia, Brazil December 16-17 and the 5th Summit of the Americas scheduled for Port of Spain, Trinidad and Tobago in April, 2009.
Prime Minister Ingraham completes his Bureau term on December 31. President of Guyana Bharrat Jagdeo joins the Bureau in January 2009.
Tonight another ‘FNM lie’ was dispelled by one of its own ministers!!
The minister of sports came on the news tonight and said that he wanted to deal with some mis information that was in the print media and what he then said shocked me…
He said that NO money has been given to the Bahamas by the Chinese to build the new stadium. I could not believe what I was hearing because it was they, while on the campaign trail prior to the last general election who were saying all over the place that a big portion of the money donated by the Chinese for the stadium was missing!!
But now we all know that that was a big lie and another tool used to confuse the Bahamian public who were not informed!!!
I have always been telling people that the Chinese did NOT give the Bahamas govt any money to build the stadium but promised that they will build a stadium!!!
Many FNMs told me that I was crazy, I wonder who is the crazy one now??
This is just one more trick that was used by the FNM to return to power in this country!!
Hi Omar I don’t trust the wutless toilet paper and I have not brought it in awhile. They ain’t too reputable in my book, so everything people tell me they read in there, I usually question it and take it has a grain of salt. Now, I trying to find out from the source, I heard they cover a particular story about you letting a certain colleague know what time it is. That’s the truth or they trying to increase sale again? cause I heard things little desperate for them now.
Hey guys what’s up?
I can agree with that Kim.
WOW! Majority of these holidays the merchants uses them as an opportunity to make monies. People are always celebrating things they know nothing about. Like I told you, everyday, is thanksgiving for me. Every morning I open my eyes is another reason to give God thanks. I don’t have any monies to be caught up in these occasions, especially right now. What they charging for the Christmas trees don’t matter to me, I have all kind of trees in my yard that can work just as well.
Do you actually realize what they are celebrating on Thanksgiving Day. The first “Anglo” settlers in the US were nearly wiped out due to hunger and disease after a particularly bitter winter. The native Indians provided them with a huge feast and provided food for them to survive and make it through the rough months.
Now you all have one guess how they eventually repaid the Native American Indians.
Yes Bahamians have much to be thankful for but we must maintain our cultural integrity and stop absorbing and adopting other cultures as our own. 100 years it will probably be a full blown Bahamian holiday with nobody knowing its true origins.
Right now Bahamians celebration of Thanksgiving is mostly about the food and its used as a gimmick by restaurants to offer expensive lunch and dinner deals.
Media, Joe was probably out celebrating since he has now learned that there is an official “job description” for what he so joyfully does.
“WOW” every year? YOU MEAN TO SAY EVERY DAY ECH?
When Bahamas Press was talking about this last year, those same WUTLESS MUPPET SHOW PEOPLE at ZNS grabbed Laing who said no such crisis is happening. In fact during that comment by Laing last year November he said said it was a figment in someone’s imagination to believe the country was slipping into recession. Now that was last year November 2007! And now 12 months later who having imaginations now? Its NOW REALITY some saying we are past recession, but moving into DEPRESSION.
And who on last week saw when ZNS reported how Bahamasair was booked out for Thanksgiving? But ON THANKSGIVING DAY, on the eve of BLACK FRIDAY only ONE CAR was parked in the PARKING LOT at the airport’s international parking section. Now we have not seen that ever that low.
We wonder where JOE was tonight when he watched ZNS? We guess he grabbed his lotion bottle and went looking for the ‘BOLD HEAD MONK!’
BP
Kim, did ingraham say which country we are doing better then? Haiti, Zimbabwe or Uganda? All looking like the Bahamas to us. All have had leaders LIKE INGRAHAM who don’t know what democracy is if it was written on his clothes they wear.
ALL have had leaders who have plunged their country into poverty and despair like Ingraham!
They all have had leaders like Ingraham who has sailed the country into a serious financial crisis.
And all just like the Bahamas’ Hubert Ingraham oversaw here in the Bahamas, a broken judicial system that DO NOT WORK because someone at the top DON’T CARE!
BP
WOW! I see what you are saying and even though there are many unemployed persons and many are starving and suffering and everything looks despondent for the country, there are still plenty to be thankful for. Even our pessimistic Prime Minister says we are doing better than some country. This not a big deal for me, everyday is Thanksgivings day and we should show God our appreciation for his many blessings on a daily basis.
Omar, I thought you were straight man! Don’t tell me you had noodles too….lol.… I always keep a cup noodles close by, because how everything looking these days, they usually comes in handy, if my sweet little baby sister did not shine on me today, I would have been eating noodles too. Thank God for family and friends with them I know I will get through this recession. How things looking now, this isn’t no time to be making enemies, it looks like you are going to need everybody.
Yeah but every year it getting worse and worse.
gimme some Kim!
Is this something new aye? I thought we always recognize Thanksgiving day in the Bahamas, if this was America today would have been a holiday….lol….
Anyway, my sister decided to surprise me with a very tasty Thanksgiving meal, I forgot to ask her where did she purchase it. Where ever she got it, those people know how to put ingredients together, it was really good.
lol
Wow!
Thanksgiving? We American now hey?
Noodles was reduce in 2007. Laing spoke about it brazenly in the parliament at the time.
BP
Noodles? For thanksgiving?
Well I have asked around, WHAT ARE YOU cooking for Thanksgiving meal today? Or what are you having or HAD? Can anyone share, someone already told me noodles, what are you having?
Bahamas Press
Happy Thankgiving BP family.
MUMBAI, India – Media reports say gunmen seized the Mumbai headquarters of the ultra-orthodox Jewish outreach group Chabad Lubavitch overnight, and that shots have now been heard coming from the building.
Representatives of the New York-based group referred questions to their Web site, which said the Israeli consulate had earlier been in touch with the rabbi who lived in the house, “but the line was cut in middle of the conversation. No further contact has since been established.”
Teams of gunmen stormed luxury hotels, a popular restaurant, hospitals and a crowded train station in coordinated attacks across India’s financial capital, killing at least 101 people, taking Westerners hostage and leaving parts of the city under siege Thursday. A group of suspected Muslim militants claimed responsibility.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
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