Moontown

 Antigua Sun

Relief might be on the way for those households in Antigua and Barbuda that will suffer most from the increase in liquid propane gas (LPG).

Prime Minister Baldwin Spencer announced yesterday that the PDV Caribe Antigua and Barbuda Ltd. has been instructed to identify a mechanism that will help to offset the burdens of the additional cost.

The Ministry of Finance announced last week that the 20 and 100 pounds of LPG would attract a significant increase.

The 20-pound cylinder now sells for $32 while the 20 pound goes for $155.

“…while it was absolutely necessary to increase the price of LPG, my government wishes to announce that instructions have been issued to PDV Caribe Antigua and Barbuda Ltd. (the company set up to operationalise the PetroCaribe initative) to identify a mechanism for providing a targeted subsidy to those households which simply cannot afford to sustain the prices increase,” PM Spencer announced.

He was at the time speaking at a press conference at his office where he revealed that Venezuela’s Bolivarian Alternative for the Americas has committed US$50 million in financial support for the flagging Antigua and Barbuda economy.

“All practicable steps will be taken to cushion the most vulnerable in society from increasing prices and other challenges,” PM Spencer stated.

He did not give a definite date as to when the initiative will be effected. Finance Minister Harold Lovell offered this much, that “this is a programme that we are now looking at very seriously to see how we can target this relief.”

The opposition Antigua Labour Party (ALP) has threatened to shut the country down in a few weeks time if the government does not roll back the high prices they have imposed on gasoline, diesel, and liquid propane gas (LPG) and the many taxes, which they have introduced over the years.

It was estimated that more than 8,000 people marched through the city of St. John’s yesterday

in a massive protest against government’s “mismanagement” of the country.

The entire route of the march was filled with demonstrators, most of who were dressed in white.

“No to IMF,” “gas price too high,” “call the elections now,” “time for them to go” and “if you can’t run de country give it to de Labour Party,” were some of the chants coming from protestors.

The march, which was organised by the ALP moved off from Michael’s Mount and ended up at Dredgers, where a rally was held.

“I am fed up with the taxes, especially with the gas just gone up so soon. I am not happy with how this country is going right now,” one of the participants told the AntiguaSun.

“Look-me ah UPP supporter but I just can’t take the high cost of living anymore. When I am waiting to hear something positive from them, it’s like they just sinking de country deeper and deeper,” another marcher said. “I don’t believe it’s about which party you support right now but it’s about letting the government know how the people feel. Right now times hard, really hard and the government is not doing anything to help the situation.”

Meanwhile, while addressing the gathering at the rally, political leader Lester Bird called on the people to join hands with him and the ALP to shut the country down.

“Let me tell you this, we are going to shut the country down. If they believe that we just coming and marching, then go back home and that’s the end of it, no we are going to come at you again and in the next few weeks we are going to shut this country down,” Bird said.

Meanwhile, party member Paul “Chet” Greene said he was delighted with the turnout, describing it as a true movement of the people. Greene said yesterday’s event was a very historic one. “It won’t be too long when we see a change in government,” Greene added.

Independent candidate Gregory Athill was also part of the march. He called on the UPP to step down. “It’s time for them to go. We voted UPP in 2004 but they have fallen short and we are saying it’s time to go,” Athill shouted.

Leader of the Organisation of National Development (OND) Melford Nicholas also supported the march. According to him, Antigua is burning down with an “incompetent” regime. “I am here tonight to stand in support and to work with anyone who is in the process of working to redeem Antigua and Barbuda for ourselves, children and the future generation,” Nicholas said.

Dyson ST JOHN’S, Antigua (CMC):

Australian John Dyson has been axed as West Indies head coach, as the turmoil surrounding regional cricket intensified yesterday.

The decision to sack Dyson was taken Wednesday at a meeting of the West Indies Cricket Board’s (WICB) Executive Committee and announced in a brief press release issued yesterday evening. He had served two years of his three-year contract.

His departure comes on the heels of the bitter impasse between the WICB and the players’ union, WIPA, which forced the 54-year-old to oversee a makeshift Windies squad for the recently concluded two-Test, three-one-day international series against Bangladesh.

West Indies, comprising several young, inexperienced batsmen, were whitewashed in both series.

Assistant coach David Williams will fill the vacant head coach role for the upcoming ICC Champions Trophy tournament in South Africa.

The WICB has also replaced team manager Omar Khan with legendary off-spinner Lance Gibbs for the September 22 to October 5 tour.

“In view of the special circumstances pertaining to this tour, the former West Indies vice-captain and off spin bowler, Mr Lance Gibbs, has been appointed the team manager,’ the release said.

“Mr Omar Khan, the incumbent manager, has been temporarily assigned to the preparation and management of the West Indies Under-19 team for the International Cricket Council’s Youth World Cup in New Zealand in 2010.”

Dyson’s axing comes as yet another blow to an already troubled regional cricket fraternity, still reeling from the after effects of the players’ strike that robbed the region of the marquee Windies players for the Bangladesh series.

The former Australia opener, who played 30 Tests between 1977 and 1984, was appointed Windies coach in October, 2007, after the resignation of fellow countryman Bennett King following the Cricket World Cup in the Caribbean.

Like his predecessors, Dyson failed to find any major success with a struggling Windies side, despite winning his first Test in charge against South Africa at Port Elizabeth in December, 2007.

It was the Windies’ first overseas win in a Test for seven years and it raised hopes, if only temporarily, of a revival. However, the victory proved to be only one of three wins Dyson would oversee in 19 Tests in charge.

His only series win was a 1-0 triumph over England earlier this year in the Caribbean that saw West Indies recapture the Wisden Trophy after a nine-year wait.

Dyson was West Indies’ fourth coach since 2000, following the appointments of Roger Harper, Gus Logie and King.

ST JOHN’S, Antigua (AP):

Antigua has received US$50 million from a regional trade bloc to help pay back wages of public employees as the island battles a financial crisis, officials said Thursday.

The money comes from a bloc called ALBA, pioneered by Venezuelan President Hugo Chavez.

Antigua anticipates half the funds would be considered a grant and the other half a loan, Finance Minister Harold Lovell said. Details of the hastily made arrangement will be worked out next week in Caracas, he said.

Hundreds of state workers who have not been paid since July will receive the money by weekend, Prime Minister Baldwin Spencer said.

Antigua’s Venezuelan ambassador, Javier Lopez, did not provide details about the arrangement, but said the infusion shows how small Caribbean nations can work together in a crisis.

financial image

It is the first time Antigua taps into the funds of ALBA, which it joined in June.

Antigua is scrambling to repair its financial image after the director of the island’s financial regulatory commission was accused of accepting bribes in a US$7 billion Ponzi scheme with Texas businessman R. Allen Stanford.

The government has hired a public relations firm and also sought help from a regional agency that monitors money laundering.

KINGSTON, Jamaica (AP)

Jamaica’s prime minister said Thursday he is hopeful Venezuela may scale back a proposal to require more money up front from nations buying oil on preferential terms under its PetroCaribe programme.

Prime Minister Bruce Golding said he believes President Hugo Chavez’s government will be sympathetic to nations like Jamaica that are reeling from the global recession and reconsider a proposal that members pay at least 80 per cent of the cost of oil up front. The changes would also reduce the amount that could be paid off with long-term loans at low interest rates, he said.

Key ingredient

Jamaica’s economy has been hurt by a drop in tourism and reduced demand for bauxite, a key ingredient in aluminium that is Jamaica’s main export. The country purchased about US$1.9 billion of Venezuelan oil last year under PetroCaribe - an average of about 21,200 barrels per day, according to Sharon Weber, manager of the country’s PetroCaribe Development Fund.

Golding said talks with PetroCaribe members have been ongoing since Venezuela proposed the changes in June, but he declined to divulge any details, including whether the Chavez government has offered any new proposals to the 18 nations in the PetroCaribe agreement.

Venezuela’s state oil company Petroleos de Venezuela SA declined requests for comment, referring questions to Oil Minister Rafael Ramirez, who wasn’t available.

The prime minister said Jamaica would likely remain a member of PetroCaribe regardless of the outcome.

Jamaica Gleaner

Arthur Hall

EVEN AS discussions continue for Jamaica to resume a borrowing relationship with the International Monetary Fund (IMF), the way has been cleared for the country to get approximately US$320 million (J$28.5 billion) from the fund by early next month.

The IMF board of governors has ratified a general allocation of Special Drawing Rights equivalent to US$250 billion to provide liquidity support to the global economic system by supple-menting the foreign-exchange reserves of member countries, including Jamaica.

The money is scheduled to be paid to Jamaica and other IMF member states on September 9.

This should give some well-needed space to the Bruce Golding adminis-tration, which is banking on the money from the IMF to boost the country’s foreign exchange reserve.

In fact, last month, Finance Minister Audley Shaw pointed to the money which he expected under the Special Drawing Rights as a key plank in the Government’s immediate efforts to increase the resources available to the Bank of Jamaica.

This should give the finance ministry some breathing room as preparations continue for Jamaica to request US$1.2 billion (J$106 billion) from the IMF under a stand-by agreement.

The administration is now preparing a letter of intent to request the stand-by arrangement and that should be with the fund before the annual IMF/World Bank meeting in October.

The IMF executive board had previously backed the general allocation under the special drawing rights, following a commitment made by G20 leaders at their April summit. However, that decision needed the approval of the board of governors.

The amount of money allocated to each country will be determined on August 28, in proportion to their existing quotas in the fund, based broadly on their relative size in the global economy.

The allocation will provide each participating country with special drawing rights in amounts equivalent to approximately 74 per cent of its quota.