CTO upbeat about 2023 Caribbean tourism outlook
17th March 2023 The Caribbean Tourism Organisation (CTO) is voicing optimism on the region’s tourism prospects for the remainder of 2023. Speaking in Barbados during the organisation’s launch of the 2022 “Tourism Performance and Outlook Report,” Acting Secretary General of the CTO, Neil Walters declared that the Caribbean had one of the quickest recovery rates […]
Antilles Gold strikes new high-grade copper and gold deposits
14th March 2023 The Australian miner, Antilles Gold, has said that it has confirmed the presence of high-grade copper in samples taken from its El Pilar oxide concession in central Cuba. An expanded drilling programme will start in April 2023. This, it said, will focus, “on the copper-gold oxide domains and on a cluster of […]
Nicaragua Formally joins Regional Stock Market
10th March 2023 Nicaragua has formally joined the EL Salvador-Panama Integrated Stock Market and will now have access to a US$54bn market. The overall plan is for a regional stock market but will require legislative fine tuning in Costa Rica, Guatemala and Honduras. A CABEI-backed regional debt market is hoping to begin operations this year. […]
Habanos says that its cigar sales reached US$545mn in 2022
6th March 2023 Habanos SA, has said that its revenue from cigar sales in 2022 was US$545mn, an increase of 2% on the previous year. In a presentation to the media at the start of the recently ended Habanos Festival, the company’s Co-Presidents Luis Sánchez-Harguindey Pardo de Vera and Maritza Carrillo González, told journalists that […]
Haiti unrest, Canadian aid dominate CARICOM Summit
3rd March 2023 The ongoing unrest in Haiti and the announcement of a major aid package from Canada dominated the narrative as the CARICOM Heads of Government met in The Bahamas for the 44th Regular Meeting of the bloc. The summit, held over 15 to 17 February 2023, was expected to deliver a plan of […]
Cuba struggling to deliver its reduced 2022-23 sugar supply target
27th February 2023 Cuba is struggling to produce the 0.4mn tons of sugar it needs from its 2022-23 campaign needed to deliver the quantities required for domestic consumption and export. A report in Granma quoted Ángel Ríos, the General Director of Azcuba’s Productive Chain as saying that as of mid-February that there was a deficit […]
The Caribbean Council’s Annual Reception at the House of Lords 2023
We are delighted to announce that the Prime Minister of the Bahamas and Chairman of the Caribbean Community (CARICOM), The Hon. Philip Edward Davis, KC, MP, has accepted Lord Bruce’s invitation to be the Guest of Honour at the event. The Caribbean Council’s Annual Reception at the House of Lords will take place this year on Wednesday, 3rd May from […]
Burkhan World Investment begin US$1bn Costa Rican investment
24th February 2023 Burkhan World Investment has announced an alliance with Costa Rican real estate company Stone Alliance worth up to US$1bn. A range of projects will be considered with Burkhan World Investment beginning with sustainable investments in Marina Tambor and Cobano Preserve on the Southern Nicoya Peninsula. The portfolio consists of mixed eco-development including […]
New law will require state enterprise to be ‘efficient and effective’
20th February 2023 A new law applicable to Cuban state enterprise is in preparation. The document which is expected to be far-reaching is likely to be approved when the country’s National Assembly meets in December. Reporting that discussions on a new business law are underway, the Cuban News Agency ACN quoted Deputy Prime Minister, Alejandro […]
Global UN early warning system launched in the Caribbean
17th February 2023 The Caribbean has become the first area in the world to witness a regional launch of the UN’s Early Warnings for All initiative (EW4ALL). The initiative, which calls for investment across disaster risk knowledge, observation, forecasting, preparedness and response, and communication of early warnings, especially in vulnerable communities, was launched in Barbados […]
Cuba says willing to advance dialogue with Vatican to find ways to resolve problems
13th February 2023 President Díaz-Canel has been quoted in Granma as saying that Cuba has the will to advance relations with the Vatican and continue building “with mutual benefit”, roads for “the solution of the expectations of both parties.” The report which followed a meeting between Cuba’s President and Cardinal Beniamino Stella, who was visiting […]
Panama to open two new Tax Free Zones
10th February 2023 Panama President Laurentino Cortizo has authorised the establishment of two new tax free economic zones. The Tech Valley Free Zone and Panama Digital Gateway will be able to house up to 740 companies. Hyundai has already been confirmed as one of the new arrivals. The total investment is believed to be around […]
Outcome of Cuban €42mn ‘sovereign debt’ related trial awaited
6th February 2023 The case before the High Court in London to determine whether an offshore Cayman company, CFR I is a legitimate creditor of the Cuban Government and the Banco Nacional de Cuba (BNC), has now ended. It is unclear when any ruling in the high-profile trial may be made public. The case revolves […]
Roundtable with H.E Vishnu Dhanpaul, High Commissioner for Trinidad and Tobago
3rd February 2023 Yesterday, we were delighted to welcome, H.E. Vishnu Dhanpaul, High Commissioner for Trinadad and Tobago for a roundtable meeting with our members. During his presentation he shared insights on investment opportunities, challenges and government priorities for economic growth. If you are interested in attending one of our next roundtables, please contact mariatereza.laino@caribbean-council.org. Many […]
US waives Venezuela sanctions on Dragon gas field for Trinidad
3rd February 2023 The US Government has approved a request by Trinidad and Tobago to waive ongoing sanctions against Venezuela to allow for the development of the Dragon gas field. “The US Government has today approved Trinidad and Tobago’s development of the Dragon Field via an OFAC Waiver from sanctions with specific terms to be […]
The Caribbean Council and Dominican Republic Virtual Mixer
Join us for a unique opportunity to network one-on-one with members of British Chamber of Commerce of the Dominican Republic, as they prepare in real-time to maximise new commercial opportunities. Don’t miss out on this opportunity to connect with key commercial players in the #DominicanRepublic, and to gain market insights. Join our #mixer on Thursday, 2nd March at […]
Deficit budget aims to start gradual process of economic recovery
30th January 2023 Cuba’s Minister of Finance and Prices, Meisi Bolaños, has said that the most significant challenge facing Cuba this year will be delivering economic growth while continuing to deliver the country’s social provision and system of subsidies. Speaking with other ministers about the 2023 budget on the flagship television and radio programme, Mesa […]
World Bank warns Worldwide Recession would have effect on region
27 January 2023 The World Bank has warned that the Northern Triangle of El Salvador, Guatemala and Honduras face economic difficulties. According to analysts, El Salvador and Honduras faced 2022 with negative growth rates of 8-9%, with Guatemala’s around 2%. Should a worldwide recession become a reality, investment would be more complicated and the cost […]
Roundtable with The Hon. Natalio Wheatley, Premier of the British Virgin Islands
Last Friday, 27th January, we were delighted to welcome, The Hon. Natalio Wheatley, Premier and Minister of Finance of the British Virgin Islands. He joined our members for an exclusive roundtable meeting to share his vision for BVI on trade and investment growth; challenges and opportunities; and key areas of priority and need. . If you […]
Report suggests outlook for Cuban rice production bleak
23rd January 2023 Granma has published an interview that suggests that Cuba will be hard pressed in the coming years to achieve its objective of producing domestically over 0.6mn tons of rice. This is the volume it requires if it is to deliver from domestic production alone enough rice to cover the regulated family food […]
Significant investment fraud uncovered at SSL Jamaica
20th January 2023 Financial regulators in Jamaica have issued enhanced oversight directives after massive employee fraud was allegedly uncovered at Stock and Securities Limited (SSL). “The directions impose strict reporting requirements on the entity and prevent the entity from disposing of any assets. Based on the FSC directions, SSL is barred from issuing funds to […]
Cuba’s Central Bank says €72mn debt claim to be heard soon in UK High Court
16th January 2023 Cuba’s Central Bank (BCC) has confirmed that legal proceedings will shortly begin in London before the commercial division of the High Court in a case relating to a debt recovery claim for €72mn (US$78mn) made against the Banco Nacional de Cuba (BNC) and the Republic of Cuba. In a statement issued on […]
Central America sees 7.15% fall in homicides
13th January 2023 According to official sources from each country, the total amount of violent deaths in 2022 fell 7.15% from 10,487 in 2021 to 9,737. El Salvador, which has embarked on a social crackdown that has seen over 2% of its adult population jailed, saw its homicide rate of 7.8 per 100,000 inhabitants. The […]
Biden announces curbs on undocumented migrant flows from Cuba
9th January 2023 President Biden has announced that the US is to expand restrictions introduced during the COVID pandemic, to rapidly expel Cuban, Nicaraguan, and Haitian migrants caught illegally crossing the US-Mexico border. The decision extends what are known as ‘Title 42’ restrictions, the legality of which are eventually expected to be ruled on by […]
JAMAICA PRODUCERS GROUP – AWARD WINNER 2022
On Thursday, 8th December Jamaica Producers Group Limited were announced as the 2022 winners of the Caribbean Council’s Excellence in International Business Award. Our warmest congratulations to JP Group, CEO Jeffrey Hall and all the leadership team, for their outstanding achievement. The award, sponsored by Charles Russell Speechlys, is awarded each year to the #Caribbean company which has demonstrated: Innovation and fresh thinkingAchievements resulting in progress […]
Massy Group makes more major acquisitions
6th January 2023 Trinidad-based regional conglomerate Massy Group has spent big on three major new acquisitions during the final month of 2022. During December 2022, different segments in the Group announced that they had entered into agreements to purchase Air Liquide International in Trinidad and Tobago, IGL (St Lucia) IBC Ltd. in Jamaica and Rowe’s […]
EVENTS PROGRAMME 2023
27th January – Roundtable meeting with The Hon Natalio Wheatley – Premier and Minister of Finance of the British Virgin Islands 2nd February – “Meet the High Commissioner” Roundtable with HE Vishnu Dhanpaul, High Commissioner of Trinidad and Tobago 2nd March – The Caribbean Council and BRITCHAM Virtual Mixer: A Business Matching event for companies from […]
US Court says four cruise Lines must pay claimant US$450mn for ‘trafficking’
2nd January 2023 Four cruise lines that operate out of the US have been told that they must pay close to US$450mn in total to the heirs of the original owners of the Havana Cruise Terminal. The port was expropriated in the 1960s by the Cuban government. The ruling in the Miami Southern District by […]
Economy Minister forecasts gradual economic recovery in 2023
19th December 2022 Cuba’s Minister of Economy and Planning, Alejandro Gil, has said that he anticipates the country’s economy will grow by a minimum of 3% at constant prices in 2023. The figure compares with a lower than expected GDP growth outcome of 2% this year. This compares to an initial forecast of 4% (1.3% […]
Caribbean facing insurance premium hikes in 2023
16th December 2022 Regional insurance companies are warning the Caribbean to brace for insurance premium hikes beginning in 2023. The issue is being raised by at least three insurance associations including Barbados, Jamaica and Trinidad and Tobago following talks with their reinsurers. Reinsurance involves local or regional insurance companies having policies with reinsurance companies to […]
France to improve Cuba’s international telecoms access
13th December 2022 Just days after the US Justice Department recommended the US Federal Communications Commission deny an application seeking the installation of a direct submarine telecommunications cable connecting Cuba and the US, Cuba and France have announced that a French company is installing a subsea cable between Cuba and Martinique. The agreement between the […]
Friends of all, satellites of none
Speaking in 1967 on joining the United Nations, the late Errol Barrow as Prime Minister of Barbados made clear that Barbados and the Caribbean “will be friends of all, satellites on none.” In this his last regular column David Jessop, reflects on a much-changed world and why the region’s young people need to continue to […]
Japan recommends US$8.5bn investment in El Salvador infrastructure by 2035
9th December 2022 A regional study by the Japan International Cooperation Agency (JICA) suggested that El Salvador spend up to US$8.5bn in mobility by 2035. Of this, US$3bn would go towards the country’s road system. This would include the expansion of the Pan-American highway and Coastal highway. The rest would be spent on ports, airports […]
Members meet Diplomatic Corps over Christmas Drinks
Members of The Caribbean Council met with #Ambassadors and #HighCommissioners from across the #Caribbean and #CentralAmerica last night at our Annual Christmas Diplomatic Drinks Reception in Pall Mall, Central #London, Taking place immediately after the Council’s AGM, the #Reception was a lovely festive occasion and #opportunity to network with an influential mix of #diplomats, #investors and leading companies from the region and from the #UK. A warming Christmas Caribbean rum punch helped beat the […]
JP Group wins Council’s Excellence in International Business Award 2022
On Thursday, 8th December Jamaica Producers Group Limited were announced as the 2022 winners of the Caribbean Council’s Excellence in International Business Award. Our warmest congratulations to JP Group, CEO Jeffrey Hall and all the leadership team, for their outstanding achievement. The award, sponsored by Charles Russell Speechlys, is awarded each year to the #Caribbean company which has demonstrated: Innovation and fresh thinkingAchievements resulting in progress […]
US Justice Department recommends against direct undersea telecoms link
5th December 2022 A US Department of Justice led committee has recommended to the US Federal Communications Commission (FCC) that they deny an application seeking the installation of a direct submarine telecommunications cable directly connecting the US with Cuba. The new undersea cable was intended to carry internet, voice, and data traffic. The Justice Department […]
FTX collapse puts Antigua and The Bahamas in the spotlight
2nd December 2022 The eyes of international financial regulators and investors are on Antigua and Barbuda and The Bahamas following the collapse of crypto giant FTX. Up until recent weeks, FTX – a digital currency exchange platform where people can buy and sell digital assets – was the second largest cryptocurrency exchange globally worth US$32bn […]
Díaz-Canel concludes ten-day visit to China, Russia, Turkey, and Algeria
28th November 2022 President Díaz-Canel has returned home from an intense four nation ten-day visit to Algeria, Russia, Turkey, and China. Official reporting suggests that there were significant immediate outcomes in China and Algeria but less so in Russia and Turkey. The visits were aimed at deepening political and economic relations through in-person dialogue about […]
Trio agree to open stock market access
25th November 2022 El Salvador, Nicaragua and Panama have agreed to an integration of their security markets. The Superintendency of the Financial System of El Salvador (SSF), Superintendency of Banks of Nicaragua (Siboif) and the Superintendency of the Panama Stock Market (SMV) agreed to let investors acquire and negotiate securities registered in any of the […]
President begins energy-led visits to Algeria, Russia, Turkey, and China
21st November 2022 President Díaz-Canel has begun a ten-day intense programme of visits to Algeria, Russia, Turkey, and China, during which he is expected to discuss with his counterparts, Cuba’s problems with power generation, its need to develop new trade mechanisms, and the economic challenges the country faces. In an indication of the significance of […]
‘Loss and damage’ on the agenda as Caribbean leaders attend COP27
18th November 2022 Despite limited progress since COP26, Caribbean leaders gathered with over 100 of their counterparts in Egypt for the UN Conference on Climate Change (COP27). The conference, being staged from 6 to 18 November 2022, is expected to depart from previous COP meetings which primarily focused on reducing carbon emissions to mitigate climate […]
The US, Florida politics and Cuba
11th November 2022 The outcome of the mid-term elections in Florida suggests that US policy towards Cuba will continue to be driven by domestic political considerations, restricting serious bilateral dialogue. David Jessop asks why no one is discussing the danger of serious instability in the Northern Caribbean if thinking about Cuba does not change. Just […]
Havana International Fair returns with a large Spanish presence
14th November 2022 After a two-year break because of the pandemic, the Havana International Fair (FIHAV) will in the coming week again take place with more than sixty countries represented, multiple official delegations, and a substantial business presence from Spain. Speaking about the thirty eighth FIHAV, Cuba’s Minister of Foreign Trade and Foreign Investment, Rodrigo […]
El Salvador and China discuss free trade agreement confusion over debt
11th November 2022 El Salvador and China discuss Free Trade Agreement; confusion over debt Discussions have already started on a free trade agreement between El Salvador and China. President Nayib Bukele stated that the FTA would help end international isolation and the agreement would be fast tracked to be signed as soon as possible. Meanwhile, […]
Azcuba seeks to calm workers fears about sugar sector restructuring
7th November 2022 Cuba’s state sugar producer Azcuba has confirmed that the 2022-2023 sugar campaign will start in mid-November utilising just twenty-three of the country’s fifty-six functioning sugar mills. The objective it said, is to better use limited resources, increase efficiency, and stabilise future levels of production. In an interview with Granma, Dionis Pérez, the […]
Massy rocked by one of the Caribbean’s largest ever data breach dumps
4th November 2022 Regional conglomerate Massy Group has launched an investigation into a major alleged data breach at the company. Reports are that the Hive Ransomware group has leaked online some 87,550 folders and 704,047 corporate files, allegedly belonging to Massy Stores Trinidad and Tobago. The hackers released staff salaries, photos, personal details, copies of […]
Díaz-Canel says Cuba open to dialogue with Washington
31st October 2022 President Díaz-Canel has told a group of visiting North American and Cuban-American businessmen that Cuba is open to dialogue with the US. If it is based on respect, there could be “a narrowing of relations, regardless of the ideological differences that we have,” he said. Speaking during an informal meeting at the […]
Britain’s new Prime Minister facing multiple challenges
28th October 2022 After weeks of political chaos Britain has a new Prime Minister. The challenges he faces are daunting if he is to save the UK from further economic decline and restore its credibility. David Jessop writes that the Caribbean should take note if it still has a strong long-term interest in a deeper […]
Regional judges warn about political interference
28th October 2022 Central American judges have issued a plea for independence to carry out their functions. Supreme court elections are currently ongoing in Costa Rica and Panama against a backdrop of interference in El Salvador and Guatemala. Of the 25 members of Guatemala’s judicial service that have fled the country in the past 18 […]
Excellence In International Business Award Now Open For Entries
Recognising and celebrating business innovation and international growth by Caribbean businesses The Caribbean Council’s Excellence in International Business Award programme is now open for entries. The Caribbean Council recognises that the region is overflowing with creative and talented entrepreneurs, who are now needed more than ever to curate new solutions for the region’s needs. Are […]
Christmas Drinks, Thursday 8 December 2022
The Reception will be a lovely festive occasion for all of our members to see each other. We will be inviting all of the Caribbean High Commissioners, the Central American Ambassadors and our senior contacts at FCDO and DIT and so it will also be a marvellous opportunity to re-connect with senior government representatives from […]
Sherritt signs innovative agreement settling debt and future operations
24th October 2022 The Canadian miner and refiner of nickel and cobalt, Sherritt International Corporation, has signed agreements with its Cuban partners settling C$362mn (US$265mn) in outstanding debt over five years. It has also agreed the terms on which it undertakes future mining and other operations in Cuba. Under the agreement, beginning 1 January 2023, […]
Growing calls for armed foreign intervention in Haiti
21st October 2022 A growing number of countries and organisations are calling for armed external intervention in Haiti as the country struggles with violence and social unrest. One of the most high-profile figures to support foreign boots on the ground in recent weeks is UN Secretary General Antonio Guterres. “The Secretary General urges the international […]
Cuba to seek foreign investment in health tourism and well-being
17th October 2022 Cuba is hoping to bring together its experience in tourism and its capabilities in medical research and health care to become an international centre for health tourism and well-being. The intention is to seek foreign investment to develop the concept. According to Dr Yamila de Armas, President of the Comercializadora de Servicios […]
A new regional agenda for tourism
14th October 2022 Caribbean visitor arrivals in some countries are almost back at pre-pandemic levels. However, there are economic storm clouds on the horizon. David Jessop writes this should be the time governments and the industry come together to develop regional strategies to future-proof the sector. No one should be in doubt. A toxic economic […]
Julia leaves dozens dead in region, repair bill in billions
14th October 2022 Hurricane Julia’s path through Central America caused an expected level of havoc, leaving dozens dead, millions affected, and repair bills estimated in the billions of dollars. The Honduran government alone reported needing at least US$ 2bn for its recovery efforts. With hundreds of roads and bridges affected, infrastructure repairs will be of […]
Cuba struggling to restore post hurricane stability in west of country
10th October 2022 Cuba is continuing to mobilise support and resources from around the island to try to restore power and water to the western province of Pinar del Rio and to parts of Artemisa following the devastation caused by Hurricane Ian which hit the island on 27 September. State media reporting indicated that at […]
Caribbean leaders highlight development issues at UNGA
7th October 2022 Caribbean leaders have used the 77th United Nations General Assembly (UNGA) to highlight key challenges facing the region. Staged under the theme ‘A watershed moment: transformative solutions to interlocking challenges,’ the annual meetings saw world leaders converge at UN Headquarters in New York City from 20 to 26 September 2022. Speaking at […]
Cuba struggling to recover from impact of Hurricane Ian
3rd October 2022 One week after Cuba was hit by a category three hurricane, Havana and some parts of the country are gradually beginning to return to normal. However, swathes of the island remain without power, adding significant pressure to the Government which is already under criticism for increasingly frequent power outages and shortages of […]
Saudi Arabia and the Caribbean
As the traditional foreign investment partners look for better returns elsewhere, the region may have to turn to newer sources. David Jessop writes that the country now showing great interest in the Caribbean is Saudi Arabia, creating a potential alternative option to China’s continuing drive into the region. There is no sign that the war in Ukraine […]
Heavy rains cause chaos in Northern Triangle, dozens dead
30th September 2022 Prior to the effects of Hurricane Ian, Honduras had already implemented a state of emergency as heavy rains battered Central America. Guatemala was considering issuing a similar decree with El Salvador also suffering loss of life and structural issues. Sinkholes have appeared across Guatemala causing the deaths of at least two people. […]
New emphasis placed on developing alternative forms of tourism
26th September 2022 Cuba’s Prime Minister, Manuel Marrero, has said that while Cuba will continue to promote itself as a sun and beach destination it will be placing greater emphasis in future on nature and other alternative forms of tourism. Speaking at the opening of Turnat 2022, Cuba’s annual tourism and nature event, Marrero, who […]
IATA issues travel cost warning to the Caribbean
23rd September 2022 The International Air Transport Association (IATA) has warned Caribbean countries that they are pricing themselves out of the global tourism market. The caution came at the recent Caribbean Aviation Day in the Cayman Islands on 14 September. Staged under the theme ‘recover, reconnect, revive,’ the event saw government ministers, industry experts, and […]
State media details concerns about bread and medicine supply
19th September 2022 Cuba’s state media has begun to carry reports about shortages of bread and medicines and to publicly voice the concerns of many Cubans. In an unusual departure, the official publication Cubadebate has criticised the scarcity, high price, and quality of bread in Cuba, and the absence of any response from the ministry […]
The Commonwealth and the monarchy
16th September 2022 The late Queen Elizabeth was widely revered for her sense of duty, her wisdom, advice, and the continuity she provided. As Head of the Commonwealth and as Britain’s monarch she represented selflessness and dedication rather than self-interest. She believed in the higher authority to whom she is now accountable. This and her […]
Odebrecht corruption case starts in Panama, a test for the country’s judiciary
16th September 2022 Panama’s judicial system is under the spotlight with the opening of the Odebrecht case.Considered the largest corruption scheme in the country’s history, the preliminary hearinghas opened and will spend days being read out. A total of 48 people are accused of moneylaundering and corruption including former presidents Ricardo Martinelli and Juan CarlosVarela. […]
Cuba hoping for smaller but more efficient 2022-23 sugar harvest
12th September 2022 President Díaz-Canel has told a meeting to evaluate the preparations for the 2022-2023 sugar campaign, that the harvest which is due to begin in mid-November will involve just twenty-three sugar mills, must be efficient, and have a level of resources that guarantees stable production. Speaking by videoconference to the Communist Party and […]
Barbados hosts inaugural AfriCaribbean Trade and Investment Forum
9th September 2022 After months of planning, Barbados has delivered on its promise to host the first ever AfriCaribbean Trade and Investment Forum (ACTIF). The forum, which ran from 1 to 4 September 2022 was put on by the Government of Barbados and the African ExportImport Bank (Afreximbank) in collaboration with the African Union Commission, […]
Cuba to open wholesale and retail sectors to foreign investment
5th September 2022 Cuba’s Deputy Trade Minister, Ana Teresita González, has confirmed that foreign investors will in future be allowed to own local wholesalers and establish public/private ventures in retail. The measures which are subject to various restrictions and controls, effectively opens the door for the firsttime since the Cuban revolution in 1959 to foreign […]
Caribbean food security and the private sector
Delivering Caribbean Governments’ ambitious plans to reduce the Caribbean’s huge food import bill will require significant levels of private sector investment. David Jessop writes that this may be difficult to achieve unless governments do much more to facilitate intra-regional investment. Gervase Warner, the Chief Executive Officer of Massy Holdings, was direct. Speaking in Trinidad at the second regional Agri-Investment Forum as Chairman of the CARICOM […]
Costa Rica becomes first Central American country to apply to trans-Pacific trade bloc
Photo by Alexander Aguero 12th August 2022 Yesterday, President Rodrigo Chaves announced that Costa Rica had officially applied to jointhe Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),becoming the first Central American country to do so. The CPTPP currently consists of elevencountries across Asia, Oceania, and the Americas. “The CPTTP will allow Costa Rica to sharecommercial […]
Central America at the forfront of global aviation sector rebound
Photo by Luka Slapnicar 29th July 2022 According to a study released this week by ForwardKeys (a Spanish firm that monitors travel industry trends), Central America (along with the Caribbean) are the “recovery pacemakers” of the aviation sector, seeing as flights to Central American destinations have risen across the board year-on-year and are projected to keep […]
Gil says economic recovery gradual, inflation must be better addressed
Photo by Charles Corbin 25th July 2022 The Cuban economy is expected to grow by 4% this year, according to Alejandro Gil, the Minister of Economy and Planning. Addressing members of Cuba’s National Assembly, Gil said that up to the end of March the economy grew by 10.9% compared with the same period in 2021 but […]
Food security – the ultimate test of CARICOM’s relevance
Photo by Jacopo Maia Most Caribbean citizens want positive regional outcomes that touch their lives. David Jessop writes that if CARICOM is to demonstrate it has a future, its focus should be on rapidly delivering food security In 2023, CARICOM will celebrate its fiftieth anniversary. Plans are underway for what may be a year-long celebration. Most […]
Latest Meeting of CARICOM Heads: Limited Progress and CSME Disappointment
Photo by Christian Lendl 22nd July 2022 CARICOM Heads of Government have identified limited progress on several key objectives during its recent 43rd Regular Meeting held in Suriname over the 3 to 5 July 2022. The meeting, which coincided with the 49th anniversary of the signing of the founding Treaty of Chaguaramas, was expected to see […]
Cuba and Mexico hoping to intensify their economic relationship
Photo by Wolf Shcram 18th July 2022 Cuba and Mexico are hoping to significantly deepen their investment and trade relations following a two-day Cuba-Mexico Business Forum held in Havana. The event was attended by some 80 Mexican and 150 Cuban companies including independently managed Cuban MSMEs. It saw 14 cooperation agreements signed in the areas […]
Mitchell toppled in Grenada election
Photo by Priscilla Du Preez 8th July 2022 Long-serving Prime Minister of Grenada, Carriacou and Petite Martinique, Keith Mitchell has lost his bid for another term in office. Keith Mitchell and his New National Party (NNP) were defeated by a margin of 9 to 6 seats by the National Democratic Congress (NDC) led by political newcomer Dickon Mitchell in the […]
Restoring PetroCaribe
Photo by Delfino Barboza July 8th 2022 CARICOM Governments are hoping the US will lift its sanctions on Venezuela so that the region can benefit from the resuscitation of its concessional oil initiative, PetroCaribe. David Jessop writes this will not be easy as Washington remains concerned about the spread of Venezuelan influence in the Caribbean. Venezuela is hoping to […]
Tourism arrival numbers gradually improving
Photo by elCarito 27th June 2022 Cuba has reported a continuing gradual increase in visitor arrival numbers. This is despite the almost total loss of the Russian market after March because of western sanctions following President Putin’s decision to invade Ukraine. The Cuban National Office of Statistics and Information (ONEI) has published figures showing that the […]
US influence in the Americas is waning
Photo by ActionVance June 24th, 2022 David Jessop writes that although the recently held Summit of the Americas in Los Angeles opened welcome new windows of opportunity for the Caribbean, it indicated more generally that US influence in the hemisphere is waning. The recently ended Summit of the Americas will likely be best remembered for the US […]
Progress at Summit of the Americas despite exclusions
Photo by Elena Mozhvilo 24th June 2022 Despite the tension leading about country snubs up to the Ninth Summit of the Americas hosted by the US in Los Angeles, progress has arguably been made on securing the region’s future. “There’s a lot that I think we can and should do. This is a partnership. My intention is to […]
Ministers explore development challenges facing independent MSMEs
Photo by Max Letek 20 June 2022 A week-long series of meetings held between Government and those running independent medium, small and micro enterprises (MSMEs) have indicated both the significance of their future role, and the complexity of their development in a planned economy. Jornada Econômica Produtiva Cuba 2022, organised by the National Association of Economists […]
Trinidad pushing increased gas output even as energy transition intensifies
Photo by Karsten Würth 10th June 2022 Trinidad and Tobago is predicting constrained natural gas production for the next five years before improvement in 2028. Speaking at the Trinidad and Tobago Energy Conference and Trade show 2022 hosted by Energy Chamber of Trinidad and Tobago, Prime Minister Keith Rowley discussed the outlook for the oil and […]
The Americas summit needs to reflect hemispheric reality
Photo by Jen Theodore 16th May 2022 David Jessop writes that differences over who is invited to the Summit of the Americas indicate that the time has come for Washington to find new ways to embrace change in the hemisphere, and for new institutions to emerge. After a prolonged period in which Washington’s economic role and political […]
López Obrador criticises US, says Mexico will deepen ties with Cuba
Photo by Filip Gielda 16 May 2022 During an official visit to Cuba, Mexico’s President, Andrés Manuel López Obrador, has indicated that Mexico intends continuing to deepen its ties with Cuba. The three-day visit saw him deliver a major speech recognising the historic importance of the Cuban revolution, the need for more equitable relations in the […]
BVI rocked by Premier’s arrest, calls for direct British rule
Photo by Aleks Marinkovic 13th May 2022 The British Virgin Islands (BVI) is reeling from the fallout of Premier Andrew Fahie’s arrest and calls for British direct rule. Fahie was arrested at a Miami airport along with the Managing Director of the territory’s Ports Authority, Oleanvine Maynard, and her son Kadeem Maynard on charges of money […]
Marrero says tourism expected to complete full recovery in 2022
Photo by Jeremy Bezanger 9th May 2022 Cuba’s Prime Minister, Manuel Marrero, has said that he expects tourism to complete its full recovery in 2023. Speaking during Cuba’s annual tourism fair, FITCuba 2022, which returned this year after a two-year break after the pandemic, Marrero said that Cuba was now benefiting from the sector’s global recovery. […]
Panama Canal experiences growth amid Ukraine crisis, China lockdowns, & inflation
Photo by Rikin Katyal 6 May 2022 This week, the Panama Canal Authority (ACP), which governs the waterway, announced the continuation of its record growth. The Canal witnessed its “highest-ever shipping flows in fiscal year 2021.” During the first half of this new fiscal year, ACP reported that “new tonnage rose 0.8%, container ship tonnage rose […]
Central Bank to licence cryptocurrency operations
Photo by Art Rachen 3rd May 2022 Cuba’s Central Bank (BCC) has published a decree law that establishes the procedures that those providing virtual assets (cryptocurrencies) must comply with to operate legally in the country. The regulation follows another gazetted last year which established a general framework (Background Cuba Briefing 6 September 2021). The new law makes […]
President Ali of Guyana keynotes four Caribbean Council events during first official visit to UK
HE Dr Mohamed Irfaan Ali, President of Guyana, and a high-level delegation were in London this week (26 to 28 April) for a three-day visit. On his first day, Tuesday, the President led a Tourism Roundtable coordinated by The Caribbean Council and Wilderness Explorers and sponsored by the Guyana Tourism Authority. During this Roundtable, the […]
Meet the Minister – Suriname
On Thursday 7th April, HE Albert R. Ramdin, Minister of Foreign Affairs, International Business and International Cooperation of Suriname told our members “we welcome the private sector through The Caribbean Council to partner with us.” The Minister shared his country’s Vision 2060 via which Suriname is using revenues from extractives to transform into a KnowledgeEconomy. He also shared opportunities in the energy, mining, agriculture, transport, and tourism sectors. With 93% forest cover, Suriname is the world’s most forested country. As […]
Meet the Ambassador – Barbados
On Thursday 31st March, HE Milton Inniss, the HighCommissioner of Barbados to the UK, meet with our members to tell them that “Barbados is open for business!” The conversation was wide-ranging and covered #opportunities across many sectors, including technology, renewables, infrastructure, logistics, and tourism. Barbados’ leading role as an advocate for ClimateJustice and its transition to a republic were also discussed. Many thanks to Mott MacDonald for hosting this informative roundtable!
Meet the Ambassador – UK Ambassador to Cuba
At the end of January, before heading to Havana to assume his new post as the UK Ambassador to Cuba, George Hollingbery stopped by London to meet with members of our CubaInitiative. The members in attendance were top Britishfirms representing the logistics, finance, banking, printing, and cigar industries. Many thanks to RH Lord David Triesman and the Salamanca Group for hosting this lively roundtable!
Caribbean leaders host US politicians, bankers for talks on financial inclusion
Photo by Jeffrey Blum 29 April 2022 Caribbean leaders have once again appealed directly to the US congress and banks on the issues of blacklisting, de-risking and corresponding banking in the region. The appeals come as Barbados hosted several US and Caribbean politicians along with regional and international representatives of financial institutions for the Caribbean Financial […]
Latin America 2022 | Politics and prosperity post-pandemic
23 – 24 May 2022 | Mexico City and Online The Caribbean Council is delighted to support Chatham House on the annual Latin America conference in Mexico City, Mexico, in collaboration with COMEXI. This conference will survey the last year’s election and political conditions and their implications for the region’s political, economic and policy future. […]
US says committed to ‘constructive discussions’ with Cuba
Photo by Aditya Vyas 25 April 2022 Cuban and US officials have met in Washington to discuss the implementation of the US-Cuba Migration Accords. The State Department described the meeting as a demonstration of its commitment to constructive discussions with Cuba. The exchanges, the first since 2018, came against a background of surging migration, with around […]
Biden Administration releases positive update on Central America investment plan
Photo by Joshua Sukoff 22 April 2022 On Tuesday, April 19, the White House released a fact sheet and progress report to update the public on its Root Causes Strategy that was launched in July 2021 to “align US Government efforts to address the economic, governance, and security drivers of irregular migration from Central America,” namely […]
Ministers say more efficient banking system
required
Photo by Eduardo Soares 18th April 2022 Ministers have said that a more efficient and responsive banking system better able to meet the country’s needs is required, and that government is developing programmes that should ensure that in future Cubans are better educated about financial issues. Cuban state media reported that at the annual evaluation meeting for Cuba’s Central […]
ExxonMobil secures Yellowtail approvals
14th April 2022 Photo by Maria Lupan US oil giant ExxonMobil has secured government and regulatory approval to develop Yellowtail field offshore Guyana. The announcement means that the Yellowtail Project becomes Exxon’s fourth and largest oil and gas field, adding to the Liza One, Two and Payara fields. Exxon, which operated through affiliate Esso Exploration and […]
Rodrigo Chaves elected President of Costa Rica by slim margin in run-off
Photo by Element5 Digital 8th April 2022 Last Sunday, 3 April, Costa Ricans took to the polls to elect their new President. The candidates, who came out on top in the first round of voting in February, were José María Figueres, the former President of Costa Rica (1994-1998) and Director of the World Economic Forum (2000-2004) […]
