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
by The Canadian Press
Last Updated Dec 14, 2020 at 4:44 am EDT
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.
Year in review: A look at news events in August 2020 - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
Dec 10, 2020 10:11 AM
An investigative arm of the House of Assembly has come down hard on the former boss of the Newfoundland Liquor Corporation, finding that he acted with misconduct in forming a business relationship between him and a family member in the purchase of French wines.
Citizens Representative Bradley Moss was spitting bullets, metaphorically speaking, at a news conference this morning. He accused former NLC CEO Steve Winter of withholding over 600 pages of emails which show an intimate business relationship existed with his son.
Steve Winter was let go by then-Premier Dwight Ball just after the 2019 election.
Moss concludes that Winter’s son had unfettered access to the CEO, and received commissions. He says the public are fed up with this type of activity.