Identifier
Created
Classification
Origin
08GRENADA131
2008-09-24 18:17:00
UNCLASSIFIED
Embassy Grenada
Cable title:  

GRENADA WEEKLY ACTIVITY REPORT SEPTEMBER 14 - 20,2008

Tags:  ELAB ECON EFIN GJ XL 
pdf how-to read a cable
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INFO RUEHWN/AMEMBASSY BRIDGETOWN 0522
RUEHGR/AMEMBASSY GRENADA 0567
UNCLAS GRENADA 000131 

SIPDIS

E.O. 12958: N/A
TAGS: ELAB ECON EFIN GJ XL
SUBJECT: GRENADA WEEKLY ACTIVITY REPORT SEPTEMBER 14 - 20,2008

UNCLAS GRENADA 000131

SIPDIS

E.O. 12958: N/A
TAGS: ELAB ECON EFIN GJ XL
SUBJECT: GRENADA WEEKLY ACTIVITY REPORT SEPTEMBER 14 - 20,2008


1. (U) Embassy Grenada's weekly report (GWAR) provides a little
detail about events of interest that do not merit longer
reporting at this time.


2. (U) Begin GWAR text:


A. Private Sector Warns of Possible Labor Unrest
The Senator representing the private sector in the upper house
of Parliament warned the GOG to brace itself for industrial
unrest as a result of the rising cost of living. The Senator
appealed to the government to act now if it wants to ward off
confrontation on the labor front, calling for national dialogue
on wages, prices, and productivity. The government responded
that it has already started the process of reviving a tripartite
committee involving the government, the private sector and the
trade unions. Over 50% of Grenada's workforce is unionized.


B. Industrial action affects SGU
Industrial action by some 300 workers has affected the security,
transportation and maintenance at St. George's University (SGU)
following a breakdown in salary negotiations. Talks collapsed
after the Technical and Allied Workers Union (TAWU) refused to
apologize for the contents of a pamphlet being circulated on the
campus depicting, in caricature, alleged statements from the
university's management and the response of workers. The union
has denied any knowledge of the pamphlet. Both sides say they
hope to meet with the Ministry of Labor to resolve the matter.
SGU has nearly 5,000 students from 80 countries and employs over
500 Grenadians.


C. Government revokes license of local bank
The Grenada government last week revoked the license of the
troubled Capital Bank International (CBI) after seven months in
receivership. A letter from Finance Minister Nazim Burke to
CapBank's Chief Executive Officer (CEO) Finton DeBourg informed
of the government's decision, charging that the institution had
violated the Banking Act on a number of occasions, including not
maintaining minimum capital of at least US$1.9 million. The
letter also stated that the bank breached the limit for large
loans to a single borrower. The revocation of CapBank's license
comes a few weeks after Director of Public Prosecutions
Christopher Nelson dismissed criminal charges against the bank's
CEO.

End text.

MCISAAC