Grenada individual investor program shelved

first_img Sharing is caring! 33 Views   no discussions NewsRegional Grenada individual investor program shelved by: – March 6, 2012 Share Tweetcenter_img Share ST GEORGE’S, Grenada — Just days before the presentation of the 2012 budget, ministry of finance officials in Grenada are being forced to revisit their projected sources of revenue for planned programs and projects of government.The country was expecting to generate millions of dollars under an initiative called Grenada Individual Investor Program (GIIP).Finance Minister Nazim Burke.However, according to a finance ministry source, GIIP has been put on hold for the moment. “Our information is that the idea did not receive the approval of a majority of cabinet members who recently met to discuss the program,” said the source, who spoke on condition of anonymity.It is believed that many government ministers, as well as longtime supporters of the ruling National Democratic Congress (NDC), fear backlash from the implementation of GIIP, which is reminiscent of the “passport selling” Economic Citizenship program of the former New National Party (NNP) administration.The NNP program, which allowed successful applicants to secure Grenadian passports, may have contributed to the party’s 2008 general election defeat, and led to Canada’s inclusion of Grenadians on a list of foreign nationals who now require visas to enter that country.In a series of media appearances in late February, Finance Minister Nazim Burke acknowledged that there is likely to be “a lot of national anxieties” about GIIP because of the failed economic citizenship program of the NNP.But he was confident that GIIP, once approved by government, could “bring substantial benefits to Grenada if it is well designed; if it is properly managed; if it is well implemented.”Burke said GIIP “provides an opportunity to expand the national economy; to increase the revenue base for the country; to increase employment generation; and is an additional source of foreign exchange for Grenada.”The 2012 budget, which was rescheduled from its expected January presentation, will be delivered on Friday by Burke, who is also minister of planning, economic development, cooperatives and energy.The country is facing a budget deficit estimated to be about EC$100 million. Caribbean News Now Sharelast_img read more

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Feast of Corpus Christi celebrated at the river

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisALPENA, Mich –Today was the Feast of Corpus Christi which is a special day within the catholic faith.Due to social distancing restrictions, tradition had to be altered.At St. Mary’s Church today Father Joe was not going to miss giving a real presence of Jesus on this special day.He began by holding up the consecrated host in a monstrance and blessing those social distancing in their cars.Father Joe then took a boat up Thunder Bay River and said this was his way of bringing Christ to the world.Because of COVID–19 restrictions, he and others at the church had to get creative and discussed other ideas before settling on the boat.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisContinue ReadingPrevious Employers inaccurately reporting employees hoursNext Mass pass required to attend church servicelast_img read more

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