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News: Grenada will not bank on Caricom - PM Mitchell heads to US for debt talks

Saturday, October 02, 2004 - 03:28 PM Printer-friendly page
Grenada

Grenada will not wait on Caricom to bear its financial burden, Prime Minister, Dr Keith Mitchell, has said.

By Camille Bethel

Mitchell made the comment during a news briefing, after meeting with Opposition Leader Basdeo Panday at Hilton Trinidad on Thursday evening.

He said Grenada had submitted documents to Caricom but had not yet received any financial assistance.

?We will not wait for Caricom to bear the brunt of this,? Mitchell said.

Instead, he said, Grenada would seek international assistance.

This weekend, Mitchell will address the Grenadian community in New York and the World Bank Donors? Conference in Washington, where he will address those who Grenada is indebted to.

Grenada has a debt of some EC$900 million.

Mitchell said if they could have some of the debts rescheduled or cancelled, this would afford the country some time to pay, which was what they needed.

Grenada indebted to Kuwait, the World Bank, the IMF and other financial institutions in the region, including Clico.

Mitchell said he would ask the various institutions for debt reconsideration.

On matters of Grenada?s national security, he said, ?Those who believe that they can take over the Grenadian government by force and survive in this international environment are living in a fool?s paradise.?

And although he sees the offer by other Caricom states to accommodate Grenadian students as a noble gesture, he advises against it.

?I would caution parents about sending their children to a society they don?t know,? he said.

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