Grenada called on creditors to restructure $193 million of bonds ahead of a coupon payment this week that the Caribbean island’s government said it can’t afford to make, eight years after its last debt swap.
Three bond restructurings totaling about $9.7 billion in the Caribbean this year are failing to ignite economic growth and may not help the region avoid more defaults, according to Moody’s Investors Service.
At Caffe Vivaldi in New York’s Greenwich Village, Peter Muller bangs out a repertoire full of Carole King riffs on the piano along with his own soft-rock compositions that draw on the likes of Van Morrison and Cat Stevens.
Caribbean men are dominating the speed events on the Olympic track, with Kirani James of Grenada taking the 400-meter gold medal and Felix Sanchez of the Dominican Republic winning the 400-meter hurdles.
The Maldives, Kiribati and Tuvalu risk extinction from rising seas because nations aren’t stepping up commitments to cut greenhouse gases, a bloc of 43 island countries said as United Nations climate talks began in Mexico.
Jamaica’s borrowing costs are surging to the highest level in nine months after defaults by two Caribbean neighbors combine with the region’s slowest economic growth prospects to undermine investor confidence.