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Canada waives C$844 mln payment due on troubled hydroelectric plant project

By Reuters Staff 2 Min Read OTTAWA, Dec 17 (Reuters) - Canada on Thursday temporarily waived a C$844 million ($664 million) debt payment for the construction of Newfoundland and Labrador’s Muskrat Falls hydroelectric power plant, bailing out a troubled project in a province already laden with debt. Since the announcement of the project in 2010, Canada has guaranteed a total of C$7.9 billion in debt for the project, which has faced major cost over-runs and now represents a large portion of the remote and sparsely-populated Atlantic province’s overall debt. BMO Capital Markets estimates Newfoundland’s net debt as a share of gross domestic product will rise to 55.6% in 2020-21 from 42.1% in 2019-20, the highest among the ten provinces.

Year in review: A look at news events in August 2020

A look at news events in August 2020: 01 – The recipient of the first partial face transplant in the U.S. died almost a dozen years after the groundbreaking operation. The Cleveland Clinic said 57-year-old Connie Culp died at the Ohio clinic of complications from an infection unrelated to her transplant. She once told reporters she did not care about what people thought of her looks. She had the operation after her husband shot her in the face in a murder-suicide attempt. 01 – Minnesota’s Matt Dumba became the first NHL player to kneel during the U.S. anthem when he did so before an Oilers-Blackhawks game in Edmonton. Dumba made a speech about racial injustice prior to Edmonton’s first game of the NHL restart. Oilers defenceman Darnell Nurse and Blackhawks goalie Malcolm Subban each put a hand on Dumba’s shoulder as he knelt for a recording of the American anthem. All three players are Black.

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