On Friday, Nov. 8, the thunderclap was heard: Canadian Imperial Bank of Commerce would sell two-thirds of its Barbados-based CIBC FirstCaribbean International Bank to a company run by Colombian billionaire Jaime Gilinski for US$797 million,.
In an exclusive interview with The Broad Street Journal back in mid-2017, Alexandre Gabriel - a master blender who has put the Maison Ferrand brand of Cognac on the map over the past two decades, and who recently introduced Plantation Rum, said he was very optimistic about the future of the company.
His decision to resign from the BTMI, an agency into which he breathed life and by extension played the key executive role in building the team that would see a tourism comeback after years of decline and stagnation will leave a void.
The new agreement reduces by 26.3% the original debt and interest past due as well as accrued since October 1, 2019. Now at mid-year that investors’ group said it held about 55% of Barbados’ US$1.5 Billion worth of foreign debt, so that means that a 26.3% reduction is almost US$400 million.
The question, she was wrestling with, said the prime minister, was whether the new cap would go to 100 megawatts or 200 megawatts. And on top of that, she added, the feed-in-tariff ought to apply not just for plants that are one megawatt and under, but for five megawatts and under, in order, she said, “to increase the democratization of the industry.”