National Weekly February 13, 2020

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NATIONAL WEEKLY | THURSDAY, FEB 13 – FEB 19, 2020 | VOL. 17 NO. 6

N E T W O R K T H E

M O S T

W I D E L Y

C I R C U L A T E D

C A R I B B E A N

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Coronavirus Could Shock Caribbean Economies As Caribbean countries work to prevent a coronavirus outbreak, the United Nations Development Program (UNDP) is concerned about the potential economic fallout the region may face from the impact of the coronavirus on Chinese growth and commodity prices. According to Luis F. Lopez-Calva – the UNDP Regional Director for Latin America and the Caribbean – this could cause an economic shock to the region. Lopez-Calva said the region will suffer disruptions to its supply chains as Chinese production of goods has come under pressure, because of the coronavirus outbreak that has killed hundreds of people in China. Lopez-Calva, also the UN Assistant Secretary-General, said resilience is one of the main pillars of UNDP's regional and Caribbean narrative, and key foundation to promoting sustainable development in the region.

“The Chinese government announced it will delay reporting its January trade data. Commodity prices will also likely be impacted by a slowdown of the Chinese economy. Chinese oil demand, for example, is already being reported to have dropped by 20 percent by some news outlets,” Lopez-Calva said. “History demonstrates in the region, that volatility is the norm and not the exception, and the development trajectories of countries are not monotonic. Resilience is the ability to return to a predetermined path of development in the shortest possible time after suffering from an adverse shock.” He said coronavirus has emerged as a new source of potential volatility, while it's too early to fully grasp its impact, it poses a threat to the macroeconomic stability of the region. “How strong will the impact of the virus be on Chinese growth, how it will translate to a slowdown in the region, and how prepared is the region to weather these impacts, are all questions to be determined,” he said. He also noted that “the coronavirus is spreading at a rapid pace and has resulted in a halt of economic activity in China, as the government limits the mobility in and out of the country...It is very likely that the impact of the virus on Chinese growth and commodity prices will represent a shock to the region.” Lopez-Calva said Latin America and the Caribbean (LAC) is significantly exposed to China, as economic relations between the two have soared in the past decades, particularly through trade and foreign direct investment (FDI) and lending. He cited trade between China and LAC increased from US$12 billion in 2000 to US$306 billion in 2018. Similarly, foreign direct investment (FDI) and lending from China have surged in Latin America and the Caribbean over the past decade. Chef Irie

continues on B8 – Coronavirus

New Immigration Public Charge Rule Takes Effect On February 24 by Attorney Caroly Pedersen

As a result of the U.S. Supreme Court's recent ruling in favor of the Trump administration's emergency request to allow the “public charge” immigration rule to be enacted, the controversial measure will officially take effect on February 24 in all states except Illinois. Under the new rule, immigration officials can deny green cards and other immigration benefits to those who have, or are deemed likely to use, public assistance programs like Medicaid and Food Stamps in the future. USCIS announced it will begin implementing the Inadmissibility on Public Charge Grounds final rule (“Final Rule”) for all applications received on or February 24. New versions of Forms I-129, I-485 I-539, I864, and I-864EZ have become or will be available this week and any applications received on or after the effective date will be rejected. Applicants are advised not to wait until the last minute, but give plenty of time for their application to be received by the USCIS before the February 24 deadline. Since the 24th falls on a Monday, and USCIS does not accept deliveries on Saturday or Sunday, its continues on B8 – Public Charge Rule

WHAT’S INSIDE NEWSMAKER

CARIBBEAN

ENTERTAINMENT

BLACK HISTORY MONTH

BOLT, STILL THE WORLD’S FASTEST MAN ALIVE A3

UK PROCEEDS WITH DEPORTATION FLIGHT TO JAMAICA A4

BUJU BANTON READIES ALBUM FOR 2020 B7

CELEBRATING THE HISTORICAL JOURNEY OF BLACK TRACK AND FIELD ATHLETES B1 – B6


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