NEWS
Scotiabank workers contract covid19
Enhanced safety protocols have been implemented following confirmation that two Scotiabank employees – one at the Diego Martin branch and the other at the bank's Independene Square, Port of Spain branch – tested positive for the coronavirus. The bank confirmed this in a release sent on Sunday where it assured customers that their safety continues to be top priority for the bank. The bank said the two are in quarantine after exhibiting symptoms and are now under medical supervision of the Ministry of Health. The bank said it implemented certain measures immediately after confirming the infections and is working with the authorities including the ministry to ensure adherance to measures prescribed. Read more here
Economist sees ministry pressured to provide relief in 2 years
The Ministry of Social Development and Family Services and the Social Sector Investment Programme could be placed under immense pressure to provide relief to the unemployed in the next two years. This view was shared by economist Vaalmikki Arjoon, as he weighed on the country’s rising unemployment and closure of several businesses due to the fallout from the COVID-19 pandemic. Arjoon said while these two institutions could face constraints to provide food support and public assistance grants “it was urgent that they (Government) take steps to limit the bureaucracy and unnecessary processes involved which can delay vulnerable people from receiving them…sometimes by many months.” Read more here
POLITICS
Pt Fortin MP mourns Jeffrey's passing
Many are mourning the loss of former La Brea MP and high commissioner to Jamaica Fitzgerald Jeffrey, including Point Fortin MP Kennedy Richards Jr. Jeffrey, 69, died on Saturday night after losing a three-year battle with lung disease. In a Facebook post, Richards extended condolences to Jeffrey's family on behalf of his constituents. He said he was "a true public servant."Mr Jeffery would have first served as a distinguished educator, shaping the young minds of hundreds as a teacher, vice-principal and principal at the Palo Seco Secondary School...Taking a step higher of public service, he served as member of parliament to our neighbouring constituency of La Brea, a former minister and most recently High Commissioner to Jamaica. Read more here
Former PM: Unemployment figures jump in second wave of COVID
Opposition Leader Kamla Persad-Bissessar believes the country’s unemployment figures have jumped from 60,000 last year to over 100,000 during the second wave of the COVID-19 pandemic. The 40,000 increase, Persad-Bissessar said may just be a fraction of the actual figure, as she anticipates “more job losses are likely,” to happen, stating that after five years of Prime Minister Dr Keith Rowley’s administration and billions spent, the Government tried to use the pandemic as an excuse for the crisis they have created. Read more here
BUSINESS
Print money to finance government spending
The Central Bank must consider directing firepower to the Government. Traditional policy isn’t working. The bank must explore direct government financing – in time for budget day. Covid19 has smashed the economy. Spending and investment have plunged to historic lows. Prices were already depressed following years of recession and show no sign of going anywhere but flat or down. Tens of thousands continue to be forced out of their jobs. Read more here
Pandemic poses challenges for financial systems
A Working Group report authored by the Inter-American Development Bank (IDB) and the Centre for Global Development (CGD) has revealed that the COVID-19 pandemic has given rise to challenges in the financial systems of countries in Latin America and Caribbean countries. In the report titled “Sound Banks for Healthy Economies: Challenges for Policymakers in Latin America and the Caribbean in Times of coronavirus,” the organisations posited, “The deep recession and the serious income losses for families and firms may provoke significant challenges for financial systems.” Read more here
REGIONAL
EU ready to share expertise
Guyana has already raked in US$150 million through its fledgling oil and gas sector and this figure is expected to grow tremendously in the coming years. This wealth that would be generated from oil and gas sector should reach every citizen of this nation, said Ambassador of the European Union (EU) to Guyana, Fernando Ponz Canto. The country officially started pumping oil late 2019, paving the way for new opportunities and wealth which could benefit everyone for years to come. Read more here
Principals Reject Oct 5 In-Person Classes
School administrators are opposed to face-to-face classes come October 5 even as the education ministry is contemplating whether some institutions could have normal operations amid a deadly wave of COVID-19. The Fayval Williams-led ministry said on Friday that it was fashioning a vulnerability index to assess school reopening based on geoinformatics, demographics, and health data. Read more here
INTERNATIONAL
Supreme Court fight adds stunning new twist to a crisis election
The United States is barreling into the ultimate political stress test, with the most divisive partisan collisions -- a Supreme Court battle and a presidential election -- occurring in the middle of an again-worsening pandemic that is about to claim its 200,000th American life. President Donald Trump and Senate Republicans spent the weekend rolling out an aggressive power play to try to solidify an unassailable and generational majority on the nation's top bench possibly even before an election that is only 43 days away. Read more here
Covid-19: UK could face 50,000 cases a day by October without action – Vallance
21st September 2020