{"id":11992,"date":"2023-11-24T11:13:45","date_gmt":"2023-11-24T15:13:45","guid":{"rendered":"https:\/\/drealfmgrenada.com\/?p=11992"},"modified":"2023-11-24T11:13:45","modified_gmt":"2023-11-24T15:13:45","slug":"government-refinances-approximately-5-million-of-mnib-debt","status":"publish","type":"post","link":"https:\/\/drealfmgrenada.com\/index.php\/2023\/11\/24\/government-refinances-approximately-5-million-of-mnib-debt\/","title":{"rendered":"Government Refinances Approximately $5 Million of MNIB Debt"},"content":{"rendered":"<p><strong>The Government of Grenada is pleased to announce the successful refinancing of approximately $5 million of debt owed by the Marketing &amp; National Importing Board (MNIB) to a local commercial bank. The terms of the new arrangement are as follows:<\/strong><\/p>\n<ul>\n<li>Consolidating all outstanding principal balances of debt owed by MNIB at an interest rate of 4.0% to be repaid over a period of 10 years<\/li>\n<li>An interest-free loan for all outstanding interest to date to be repaid over 10 years; and<\/li>\n<li>Release of all existing securities to be replaced with a charge on the Consolidated Fund<\/li>\n<\/ul>\n<p>These terms represent a significant improvement compared with the previous conditions applied to MNIB facilities at the bank. Specifically, the current interest rates stand at 6.5% and 7%.<\/p>\n<p>This major accomplishment not only halts a further accumulation of arrears, but also strengthens Government\u2019s ability to successfully reform the MNIB by removing the lien on the Pack House property located at River Road, St George.<\/p>\n<p>Furthermore, the Cabinet has approved the payment of all outstanding claims to unsecured creditors, including farmers and agro-processors to the tune of $2.5 million. The Ministry of Finance is working diligently to conclude all payments to unsecured creditors by 1 December 2023.<\/p>\n<p>Further information will be issued on Tuesday, 28 November 2023.<\/p>\n<p>All concerned are kindly asked to take note.<\/p>\n<p><em>Ministry of Finance<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>The Government of Grenada is pleased to announce the successful refinancing of approximately $5 million of debt owed by the Marketing &amp; National Importing Board (MNIB) to a local commercial bank. The terms of the <a class=\"mh-excerpt-more\" href=\"https:\/\/drealfmgrenada.com\/index.php\/2023\/11\/24\/government-refinances-approximately-5-million-of-mnib-debt\/\" title=\"Government Refinances Approximately $5 Million of MNIB Debt\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":11993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2,39,40],"tags":[],"class_list":{"0":"post-11992","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-government-news","8":"category-local-news","9":"category-news"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=675%2C900&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=675%2C900&ssl=1",675,900,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg",675,900,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg",675,900,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=225%2C300&ssl=1",225,300,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=675%2C900&ssl=1",675,900,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=675%2C900&ssl=1",675,900,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?fit=675%2C900&ssl=1",675,900,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=675%2C438&ssl=1",675,438,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=675%2C381&ssl=1",675,381,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=675%2C509&ssl=1",675,509,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2023\/11\/IMG_3202.jpg?resize=80%2C60&ssl=1",80,60,true]},"rttpg_author":{"display_name":"adminrfm","author_link":"https:\/\/drealfmgrenada.com\/index.php\/author\/adminrfm\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/drealfmgrenada.com\/index.php\/category\/news\/government-news\/\" rel=\"category tag\">Government News<\/a> <a href=\"https:\/\/drealfmgrenada.com\/index.php\/category\/news\/local-news\/\" rel=\"category tag\">Local News<\/a> <a href=\"https:\/\/drealfmgrenada.com\/index.php\/category\/news\/\" rel=\"category tag\">News<\/a>","rttpg_excerpt":"The Government of Grenada is pleased to announce the successful refinancing of approximately $5 million of debt owed by the Marketing &amp; National Importing Board (MNIB) to a local commercial bank. The terms of the [...]","_links":{"self":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/comments?post=11992"}],"version-history":[{"count":1,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11992\/revisions"}],"predecessor-version":[{"id":11994,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/11992\/revisions\/11994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media\/11993"}],"wp:attachment":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media?parent=11992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/categories?post=11992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/tags?post=11992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}