ST. GEORGE'S, Grenada (AP) — The government of Grenada is warning that it does not have the funds to make a scheduled bond payment on March 15 and will seek to restructure its debt.

A statement issued late Friday says that the economy of the southern Caribbean island has been severely affected by the global financial crisis and that its public finances are "currently unsustainable."

Grenada had to borrow to make a delayed $4.4 million payment on a September coupon for $193 million in bonds due in 2025. That prompted Standard & Poor's to downgrade Grenada's foreign currency credit rating.

Now, another payment is coming due on the 2025 bonds and the government says borrowing is not an option. Newly re-elected Prime Minister Keith Mitchell says the country needs a "fresh start" with creditors.


Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.




If you have any questions or concerns please email us on


  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.