Identifier
Created
Classification
Origin
09GRENADA9
2009-02-12 18:25:00
UNCLASSIFIED
Embassy Grenada
Cable title:  

GRENADA WEEKLY ACTIVITY REPORT: FEBRUARY 1 - 7, 2009

Tags:  ECON ELAB EFIN PNAT GJ 
pdf how-to read a cable
VZCZCXRO2956
RR RUEHGR
DE RUEHGR #0009 0431825
ZNR UUUUU ZZH
R 121825Z FEB 09
FM AMEMBASSY GRENADA
TO RUEHC/SECSTATE WASHDC 0527
INFO RUCNCOM/EC CARICOM COLLECTIVE
RUEHGR/AMEMBASSY GRENADA 0608
UNCLAS GRENADA 000009 

SIPDIS

E.O. 12958: N/A
TAGS: ECON ELAB EFIN PNAT GJ
SUBJECT: GRENADA WEEKLY ACTIVITY REPORT: FEBRUARY 1 - 7, 2009

UNCLAS GRENADA 000009

SIPDIS

E.O. 12958: N/A
TAGS: ECON ELAB EFIN PNAT GJ
SUBJECT: GRENADA WEEKLY ACTIVITY REPORT: FEBRUARY 1 - 7, 2009


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


2. Begin GWAR text:

a. Minister for Finance Predicts 30% Unemployment
Grenada's Multipartite Consultative Committee (MCC) discussed
ideas on how to prepare the country to meet its obligations
during what may be a prolonged global economic downturn.
Minister for Finance, Nazim Burke, suggested that the country
may be in for a rough time, with unemployment potentially
reaching 30%. Burke predicted that tourist arrivals likely will
drop and those visitors who do come will spend less while here.
Union representatives demanded the government do more, including
increasing the minimum wage, giving public lands to the
Marketing & National Importing Board (MNIB) for production of
local produce, and talking banks into dropping mortgage rates.

The GOG's options are severely limited. Public debt stands at
107 percent of gross domestic product (GDP),Grenadians already
owe over US$26 million in back taxes (including interest and
fees),and unemployment is over 20 percent (the official rate is
18 percent, but the general consensus is that it is higher).

b. Grenada Worried about CLICO
Grenadian officials are monitoring closing developments in
Trinidad and Tobago with the CL Financial Group. CL group has
shares in Republic Bank, British American Insurance, CLICO, and
the Grenada Broadcast Network (GBN). GOG officials have been
telling the public that the institutions in Grenada are
different than their counterparts in Trinidad, but anxiety
levels are rising in Grenada as the situation remains
unresolved.

c. Independence Day Celebrations Small
Grenada celebrated its 35th anniversary of independence on
February 7 with a military parade and brunch for visiting
diplomats. The evening bingo game at the national stadium drew
a larger crowd than the morning parade for which the stadium was
less than a quarter full. The highlight of the parade was the
break dance performed by a police cadet member of the police
band, who set his horn down and rocked the crowd with his dance.
Some were not amused and complained later that the display was
inappropriate.

The 2009 celebration was the first of the government elected on
July 8, 2008. For the first time, small official celebrations
were held on the sister isles of Petit Martinique and Carriacou,
timed so that the Prime Minister and other cabinet members could
attend them all.

End text.

MCISAAC