Taiwan demands Grenada pay funds

The government of Grenada has found itself in deep waters following Taiwan’s demand that the country immediately repay US$25 million dollars owed to it.



The government in St George\'s says it has received a formal demand notice from the Import Bank of Taiwan in respect of four loans issued between 1990 and 2001.



Two years ago, a US court ordered Grenada to repay the funds, following the failure of the then Government to service the loans.



The 10-month-old administration of Prime Minister Tillman Thomas says it’s considering all options to resolve the matter.



Grenada cut diplomatic relations with Taiwan in January 2005 and re-established ties with China.