Saturday, Nov 18th

LATEST:
You are here: Regional News Guyana: Venezuela territorial claims scaring away investors

Best_of_2015_587x57_Results

Guyana: Venezuela territorial claims scaring away investors

scareGEORGETOWN, Guyana--The Guyana government says Venezuela’s claims on disputed territory is hurting the Caribbean Community Caricom nation’s economy.

President David Granger told reporters in New York, where he is attending the United Nations General Assembly (UNGA), that the entire economy is being affected, but the brunt of the impact was being felt by the five regions of the Essequibo.

Venezuela has been laying claim to the vast mineral-rich area of jungle west of the Essequibo River, which accounts for about 40 per cent of Guyana’s territory, since the 19th century.

“The claims have had a very negative effect over the years. It became worse in 2013 when that country expelled a vessel from our waters, and became much worse in May this year,” Granger said after a meeting with president of the Inter-American Development Bank (IADB) Luis Alberto Moreno.

“The Venezuela claims have scared away investors and we made the president of the bank aware of the impact that the aggression has had on our economic development of that huge area.”

While Moreno declined to give details of the IADB’s position on the territorial dispute, he said the institution was very interested in a peaceful resolution to the matter.

Venezuela has also extended its maritime claims after a subsidiary of Exxon Mobil announced it had made a significant oil discovery about 193 kilometres off Guyana earlier this year.

Also discussed during the meeting was the IADB’s support for the development of renewable energy in Guyana.

“The bank, as you know, has responsibility for the disbursal of Norway funds and we would like to work with the bank to ensure that Guyana satisfies the requirements of those funds and, at the same time, satisfies the requirements for renewable energy,” the president added.

Granger spoke to Moreno about the challenges facing his country’s rice, sugar, bauxite and gold industries over the last 12 months.

“So we have been pursuing a very important social agenda to ensure that we bring more people into the economy at the grass roots level, through educational and poverty-reduction programmes. At the same time, we need to keep our economy buoyant and the IADB is a very important partner in Guyana’s economic restructuring,” he said.

Meanwhile, Foreign Affairs Minister Carl Greenidge, who also attended the meeting with Moreno, said that the IADB has signalled its commitment to working with Guyana in other areas of development, including marine transport, infrastructure and the electricity sector. ~ Caribbean360 ~

Image
St. Maarten midday Weather Forecast for Saturday
Saturday, 17 October 2015
DATE ISSUED: Saturday, October 17, 2015 @ 12:00 LST (16:00 UTC) VALID UNTIL: Sunday midday (12:00... Read more...
Image
SHTA poll: Businesses want anti-ship-jumping legislation
Saturday, 17 October 2015
Click here for SHTA graph pdf PHILIPSBURG--The St. Maarten Hospitality and Trade Association... Read more...
Image
Dominica’s tourism sector ready to welcome visitors after TS Erika
Friday, 16 October 2015
ROSEAU, Dominica--“Dominica is open for business and ready to welcome visitors to its shores.”... Read more...
Image
Reparations Committee: Withdraw Queens’ names from Suriname’s highest mountains
Thursday, 15 October 2015
PARAMARIBO--Suriname’s National Reparations Committee NRCS has filed a request with President... Read more...
Image
Ex-US House Speaker Hastert to plead guilty in hush-money case
Friday, 16 October 2015
CHICAGO--Former U.S. House Speaker Dennis Hastert is expected to plead guilty in a hush-money case... Read more...
Image
Hillary Clinton to 'look hard' at Julian Castro as possible VP pick
Friday, 16 October 2015
WASHINGTON--Democratic presidential contender Hillary Clinton won the backing of Housing and Urban... Read more...
Image
Half a million Yemen children face severe malnutrition
Friday, 16 October 2015
GENEVA--More than half a million children in Yemen face life-threatening malnutrition as a risk of... Read more...
Image
Modi to open 70-year-old files in challenge to Gandhi dynasty
Friday, 16 October 2015
NEW DELHI--Prime Minister Narendra Modi says he will seek to unravel one of India's most enduring... Read more...
Image
Cuba in cash crunch due to low commodity prices, Venezuela woes
Friday, 16 October 2015
HAVANA--Low commodity prices, a drought at home and Venezuela's economic crisis have created a cash... Read more...
Image
Apple's newest courtroom foe is patent-savvy university
Friday, 16 October 2015
NEW YORK--As a veteran of the global smart phone wars, Apple is used to courtroom battles with... Read more...
Image
Focus needs to be on fighting crime & helping unemployed
Friday, 16 October 2015
Dear Editor, With all of the political situation on the island, we can't lose focus on some of the... Read more...
Image
Had enough
Friday, 16 October 2015
Dear Queenie, My brother died years ago but his widow stayed close to our family. Eventually she... Read more...
Image
RBC St. Maarten Little League School Tournament
Saturday, 17 October 2015
Sister Marie Laurence defeated Leonald Conner in the RBC St. Maarten Little League School... Read more...
Image
Nadal trounces Wawrinka, Djokovic tames Tomic
Friday, 16 October 2015
CHINA-- Former world number one Rafa Nadal displayed more signs of a return to top form with a... Read more...
Image
Junk shop photo spurs quest to confirm Billy the Kid image
Friday, 16 October 2015
DENVER--For the $2 he spent to buy three old photographs, Randy Guijarro may have hit the mother... Read more...
Image
Few signs of improvement for NBA star Odom after collapse
Friday, 16 October 2015
LAS VEGAS--Pro basketball and reality TV star Lamar Odom spent a third day hospitalized on... Read more...
Image
Bruney cruises into retirement
Friday, 16 October 2015
~ After three decade in cruise industry ~   By Alita Singh   Frank Bruney has seen tiny... Read more...
Image
ALL HANDS ON DECK, WE MADE IT!
Friday, 16 October 2015
~ Fair Transport Sailing Vessel Nordlys is launched ~   St. Maarten has been graced by the... Read more...
Editorial - Anybody’s guess
Saturday, 17 October 2015
Governor Eugene Holiday has decided to seek legal clarity on the current constitutional impasse.... Read more...
Editorial - Time is up
Friday, 16 October 2015
With so much ongoing constitutional turmoil, the fact that more than 100 people attended the... Read more...
Image
Saturday Oct. 17, 2015
Friday, 16 October 2015
Image
Friday Oct. 16, 2015
Friday, 16 October 2015
Notices October 16
Friday, 16 October 2015
General Meeting St. Maarten Professional Softball Association (SMPSA) general meeting for the... Read more...
Notices October 15
Thursday, 15 October 2015
General Meeting S.M.P.S.A. general meeting for the softball season 2016 will be held at Sundial... Read more...