Author: cc-admin-backend

Protest, climate change and the environment

Investor interest in the Caribbean’s undersea oil is accelerating, environmental activism is growing, and the world appears to be moving towards a consensus on climate change. David Jessop suggests this may require a more nuanced future regional narrative.  Intensely national in character, environmental protest is on the rise across the Caribbean. From French Guiana, to […]

US$628m multilateral financing approved for Nicaragua’s economic recovery and electrification

 The Central American Bank for Economic Integration (CABEI) and the International Monetary Fund (IMF) have each approved significant financing for Nicaragua, not usually a recipient of such large sums from multilateral financial institutions. CABEI will provide a loan of US$300m for the country’s economic reactivation and social protection, supporting dozens of projects across sectors including […]

Agriculture Panel – Note

During the Caribbean Council Virtual Conference 2020, we were proud to welcome expert panelists in Aviation and Tourism, Digitisation, Shipping and Food & Agriculture, to propose practical and actionable solutions to the region’s challenges post-COVID-19. We are grateful to Chris Bennett, Managing Director at the Caribbean Council, for moderating the Agriculture panel; and to William […]

Digital Services Panel – Note

Digital Services – Harnessing digital to enable regional financial and service sector scale up During the Caribbean Council Virtual Conference 2020, we were proud to welcome expert panellists in Aviation and Tourism, Digitisation, Shipping and Food & Agriculture, to propose practical and actionable solutions to the region’s challenges post-COVID-19. We are grateful to Shiva Bissessar, Managing Director, Pinaka Consulting […]

Cuba’s President demands officials battle surging food prices

President Díaz-Canel has called on provincial Governors and officials to “battle” the steep rise in the price of foodstuffs and essential items now being seen across Cuba.  “Abusive and speculative prices cannot be allowed, and we must go out to discuss with those who are currently raising prices, why they are doing it”, he was […]

Democracy alone is not enough

This was the year when much of the Caribbean went to the polls. General elections were held in Anguilla, Belize, Jamaica, the Dominican Republic, Puerto Rico, St Kitts, St Vincent, Sint Maarten, Sint Eustatius, Suriname, and Trinidad. In each case the losers conceded rapidly and governments either continued in office or saw power transferred peacefully.  […]

Environmental group seeks halt to Bahamas offshore oil exploration

The Bahamian umbrella environmental group ‘Our Islands, Our Future’ has said that it will take legal action in relation to a judicial review it is seeking if the Bahamas Petroleum Company’s (BPC) starts a planned offshore drilling programme.  The activist group said that it will seek an injunction if the company does not halt its […]

Díaz-Canel tells Cuban business it must become competitive

Cuban business must ‘immediately promote a culture of innovation to solve the most pressing problems of the country’, President Díaz-Canel has told a high-level meeting. In remarks critical of the state enterprise sector’s failure to respond to previous calls for change, he told the bodies that effectively control state enterprises that Cuba has the expertise […]

The next COVID-challenge – mass immunisation

 The Caribbean is now well placed to obtain one or another proven COVID vaccine through the World Health Organisation’s COVAX facility. David Jessop writes that recent breakthroughs mean that governments must address rapidly the complex logistical challenge of citizen immunisation.  In the last few days, Pfizer BioNTech a German-US company, and the US company Moderna […]

Biden expected to restore working relationship with Cuba

[photo – CNN Español] Cuba’s President, Miguel Díaz-Canel, has recognised the outcome of the US elections. Writing in a Tweet on 8 November, he noted ‘The US people have chosen a new direction in the presidential elections. We believe in the possibility of a constructive bilateral relationship respectful of differences’. Although Cuba has yet to […]

The US and the Caribbean: time to seize the moment

[photo – CadenaSER] The election of Joe Biden as the next President of the United States hold out the hope of a much improved and less divisive Caribbean relationship with Washington. David Jessop writes that if the Caribbean is to benefit, it must engage now to make the case for the policy changes that will […]

Guyana’s energy matrix set to change radically

Guyana’s President, Irfaan Ali, has said that he expects the country’s proposed ‘Gas-to shore project’ to be operational by the end of 2023. The project is intended to deliver affordable energy to Guyanese consumers, utilising natural gas presently being flared off from the country’s world class offshore oil finds. The project is expected to have […]

Cruise lines facing a much-changed future

An order issued by the US Centre for Disease control is likely to result in ‘test sailings’ by US cruise lines and a gradual return to the region in 2021. David Jessop believes that the high volume, short-stay model they promote faces a much-changed future.  From Bridgetown’s Carlisle Bay to England’s south west coastal town […]

Cuba turns to the market to increase food supply

 In a bid to encourage agricultural production and offset food shortages, Cuba has announced a raft of market related reforms effectively commercialising food production. The new policy will in part enable all state and non-state farmers and others involved in food production, processing and distribution to sell surplus produce directly once government contracts have been […]

Hurricane Eta hits Central America

Hurricane Eta (now classified as a tropical storm) has caused severe flooding, strong winds, and heavy rain across parts of Central America, with evacuations in Nicaragua and Honduras. Nicaragua remains on high alert for landslides, flooding, and damage to property in the aftermath of the storm, which at the time of writing is moving north […]

Partnerships are always better than hostility

Caribbean governments recently received a sharp reminder of how US thinking about the region seeks to link the ideological with the economic and commercial. David Jessop writes that the Caribbean’s history suggests that being told is not the best way to proceed.  A few days ago, the US Ambassador in Kingston, Donald Tapia, gave an […]

US sanctions cripple Cuba’s remittances system

Over 400 offices in Cuba that receive remittances from Western Union are expected to close on 27 November if no immediate alternative mechanism is found to receive funds sent to Cubans from family members in the US.  Fincimex, the Cuban state entity that is Western Union’s agent on the island, made the announcement after the […]

Washington increases its 5G pressure on Jamaica

The US Ambassador to Jamaica, Donald Tapia, has said that the country has to make a decision as to whether it is going to look East to the ‘two headed dragon’, China, or North to the United States when it comes to deciding where its economic priorities lie. In an exclusive interview with the Jamaica […]

Reassessing relations with a post-Brexit Britain

25 October 2020 The signs are that an eleventh-hour post-Brexit trade agreement between Britain and its neighbours in the EU may be possible. David Jessop suggest that this is the moment when the Caribbean should consider the implications of the UK’s review of its global policy priorities.  By mid-November, the outcome of the saga of […]

Murillo provides detail on currency unification and exchange rate policy

 The Head of Cuba’s Permanent Commission for the Implementation of the Guidelines (lineamientos), Marino Murillo Jorge, has said that the US Dollar exchange rate to the Cuban Peso (CUP) will be fixed when the country unifies its dual currency system (see Cuba Briefing 19 October 2020).  He said, however, that if over time business does […]

German-Honduran partnership wins Salvadoran cargo terminal contract

A German-Honduran consortium has been selected to modernise, expand and operate the cargo terminal at Óscar Arnulfo Romero International Airport in El Salvador, in a public-private partnership arrangement with the Salvadoran Government. The partnership of Emco and and Munich International Airport, which already operates Honduras’ Palmerola International Airport, will invest US$57m in the project after […]

Cuban minister details elements of economic reform package

Speaking on Cuban Television, Cuba’s Minister of the Economy, Alejandro Gil, has outlined a complex economic reform package aimed at transforming and modernising the Cuban economy that retains the country’s centralised system of socialist planning.  Gil told viewers of Mesa Redonda, the country’s nightly flagship television programme, that the overall economic strategy being pursued, and […]

Who will deliver the structural changes the pandemic has highlighted?

18 October 2020 A timely and comprehensive policy paper produced by the Ramphal Centre has set out the structural changes required to deliver Caribbean post-COVID economic recovery. Welcoming the study, David Jessop, questions however whether the region still has the unity of purpose to deliver what it recommends.  A little earlier this month, the University […]

Barbados, CARICOM strongly object to EU Finance Ministers’ blacklisting decision

Caribbean Governments have strongly objected to a recent decision by European Union’s Finance Ministers to add Anguilla and Barbados to its blacklist of offshore financial centres.  In a strongly worded statement, CARICOM said that the EU’s backlisting strategy was “unilateral, arbitrary and non-transparent” while Barbados’ Prime Minister, Mia Mottley, has described the island’s listing as […]

Under US leadership the IDB develops an ‘Americas First’ strategy

11 October 2020 In his first address, IDB’s new President said that his appointment would lead to a stronger commitment from the US to support the region and its institutions. David Jessop believes his remarks indicate that for strategic reasons the US is moving gradually towards an ‘Americas First’ policy.  “The IDB (Inter-American Development Bank) […]

President says monetary unification process to be announced very soon

 Cuba’s President has said that the government will announce shortly, details of the process that will end the country’s dual currency system and lead to monetary and exchange rate unification.  “The scope of this task is great, it is a comprehensive, conceptually deep and comprehensive work that has taken years of study, and that takes […]

COVID Restrictions are Driving Demand for E-Commerce Solutions in Central America

COVID-19 is transforming business in Central America, as digital solutions offer crucial ways around physical restrictions during the pandemic.    The trend has been most obvious with online shopping and home delivery services. International players like Uber Eats, Rappi and Glovo entered the local food delivery market in the mid to late 2010s, and have seen […]

US sanctions popular new method of receiving remittances

This issue’s highlights include: – US sanctions popular new method of receiving remittances – Cuba to adapt Economic Plan to reflect impact of COVID and tighter embargo – Russia expresses full support for Cuba, recognises difficulties country is facing – New regulations lift some restrictions on state enterprises – US firm fined US$5.9m for ‘intentional’ violation of sanctions – Havana […]

Can mineral extraction ever be environmentally acceptable?

4 October 2020  As gold prices surge, increased attention is being paid to its extraction across the Guiana Shield and in the Dominican Republic. David Jessop asks whether it is possible to reconcile the very different concerns of investors, environmentalists and governments?  In August, the price of gold reached a record high of US$2,073 per […]

Washington consolidating its economic influence in Caribbean

 Last weeks issue highlights include:– Washington consolidating its economic influence in Caribbean– Mottley calls for new Caribbean financing facility to aid restructuring – Guyana and Exxon reach agreement on US$9bn Payara project – Barbados-China relations attract attention – Cuba’s Central Bank introduces restrictions on import and export of dollars – Dominican Republic issues US$3.8bn in sovereign bonds – In Guyana, […]

Trump administration halts all US stays in government run hotels

The US government has introduced new regulations that have the effect of ending stays by US citizens in all Cuban hotels owned or controlled by the Cuban government or senior figures connected to the Cuban Communist Party.  Announcing the expansion of existing restrictions on licensed travel by US citizens to Cuba, the State Department said […]

Washington consolidates it position in the Caribbean

 Recent statements by the US Secretary of State suggest that the Washington is moving to increase its economic dominance in the Caribbean. David Jessop writes that the Caribbean would do well to consider the implications of this new and likely long-lived version of the Monroe doctrine that offers benefit, but at a price.  Speaking recently […]

Delivery Hero to acquire Glovo operations in Latin America for US$267m

President of Guatemala Alejandro Giammattei has tested positive for the virus as the country reopened its air, land, and sea borders. Foreigners are now allowed to enter Guatemala subject to a negative COVID-19 test within the 72 hours prior to travelling. El Salvador has similar requirements for those arriving into the recently reopened San Salvador airport, though the country’s […]

Poll shows Biden far behind Trump with Cuban American voters

US opinion polls show that the Democratic Presidential nominee, the former Vice President Joe Biden. is polling significantly less well than President Trump with Cuban American voters.  A recent Miami Herald poll noted that among Cuban Americans in Miami Dade, Trump leads Biden by 38 percentage points. More generally in Florida, according to an NBC […]

The pandemic offers the opportunity to transform tourism’s role

The timing of Caribbean tourism’s return to normality remains uncertain. David Jessop suggests that the pandemic has validated the case for transforming the Caribbean model so that the industry is better integrated, and more socially relevant.  Despite the understandable desire by some in tourism to talk up a ‘return to normal’, it is hard to […]

Barbados planning to become tourism hub for the Southern Caribbean

 The Barbados Government has said that it is developing plans that it hopes will see it become the southern tourism hub in the Caribbean.  Speaking to the Barbados Hotel and Tourism Association (BHTA), Senator Lisa Cummins, the Minister of Tourism and International Transport, said that as a part of its plan it was negotiating with […]

Cuba moving closer to unification of its dual currency system

[Photo: ADNCUBA] Despite Cuba’s Central Bank denying rumours on timing, there are growing indications that Cuba may be close to announcing plans for the unification of its economically distorting dual currency system which has been in place since 2004. On 10 September, the Central Bank issued a statement denying widespread social media posts indicating that the unification […]

International travel progressively resuming across the region, major airlines announce flights

While concerns over the spread of COVID-19 in Central America continue, travel has progressively resumedover the summer and will continue to over the coming months. Foreign travellers are now authorised to take commercial flights to Nicaragua, Honduras and Costa Rica, while Panama, Guatemala and El Salvador are expected to relax restrictions on international commercial flights […]

Russia’s Zarubezhneft launches first well in Boca de Jaruco oil field

[The Cuban History Website, 2020] JSC Zarubezhneft, the Russian state-controlled oil company, has said that it has successfully launched its first horizontal well in flow mode, in Cuba’s Boca de Jaruco field. The company reported in a statement that the initial onshore oil flow was 52 tons per day of extra viscous oil. The first well is exploratory […]

Why vaccine nationalism should concern the Caribbean

Wealthy countries are vying to be the first to produce and roll out a fully tested and safe vaccine, test their citizens, and seize the global financial opportunity that being first presents.David Jessop asks how prepared the Caribbean is to respond to vaccine nationalism. How well prepared is the Caribbean to respond to the politically led emergence […]

ExxonMobil unhappy with Guyana government’s plans to review oil agreements

ExxonMobil has said that it is open to the new Guyana government’s interest in increasing the local content of its operations but not to any renegotiation of its controversial 2016 production sharing content negotiated with the former APNU+AFC government. The comment by Alistair Routledge, the newly appointed President of ExxonMobil Guyana, follow indications that the country’sgovernment intends […]

Cuba begins clinical trials of a COVID-19 vaccine

Cuba has begun clinical trials of a potential coronavirus vaccine known as Soberana 01. Granma, the official voice of Cuba’s Communist Party, reported in late August that the country’s overall biotech and pharmamanagement group BioCubaFarma has received permission from the country’s regulatory authorities to begin clinical trials of the candidate vaccine. The group said that it was ‘capable of producing […]

Join us – Virtual Membership

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Virtual Member

Become a Caribbean Council Virtual Member! As a membership organisation, we regularly run events, from receptions to seminars to meetings with ambassadors and government officials, to provide networking opportunities and high-level introductions for our membership while promoting responsible trade and development throughout the Caribbean and Central America. In recent months, the COVID-19 pandemic has led […]

A cold wind is blowing from the north

David Jessop asks who will lean into the wind, speak out and define in Caribbean and small state terms what free, socially oriented democratic societies require of both the US and China? Whether it chooses to take sides or not, the Caribbean is about to find itself swept up into the now almost inevitable superpower confrontation […]

US targets US$1bn private sector investment in Honduras as countries sign MOU

The US International Development Finance Corporation (DFC) intends to finance US$1bn in private sector investment in Honduras over a period of three years, according to DFC CEO Adam Boehler. The financing will be part of the América Crece programme with a focus on strengthening infrastructure, digital connectivity, health systems, and financial services, Boehler announced as the governments […]

New government takes office in Guyana

Five months after the country’s 2 March election, Guyana has a new President and government. The final decision to accept the outcome of the recount which showed the opposition PPP/C winning decisively, came as both ExxonMobil and Hess indicated the country’s potential as a major western hemisphere producer of oil. The swearing in of the new President, Irfaan […]

Thinking creatively about the uncertain end of the pandemic

As the likely longevity of the pandemic becomes apparent, Barbados and the Cayman Islands are developing creative new approaches to tourism. David Jessop believes that what is now required is innovative thinking that accepts that full recovery is largely outside of the region’s control. A week ago, the government of The Bahamas took an unprecedented decision. It […]

Malmierca details new export/import regime for non- state enterprises

Cuba’s Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, has explained how recently announced measures aimed at encouraging non-state enterprises to export and import will work (Cuba Briefing 20 July 2020). Speaking on the flagship television programme Mesa Redonda, he said that 36 Cuban companies specialised in foreign trade will provide import and export intermediary services […]

Tensions rising in Guyana as government says unwilling to accept election outcome

[screenshot via global voices from Stabroek News livestream] Tension is continuing to rise in Guyana following a statement by the country’s APNU+AFC government that it will not accept a legally directed declaration by the Guyana Elections Commission (GECOM) based on the recounted results which show that it lost the country’s 2 March elections. Responding, the General Secretary of […]

Now is the moment for CARICOM to re- engage with the Dominican Republic

CARICOM should set aside its reservations and seek an early engagement with the new government in the Dominican Republic. David Jessop writes President elect Abinader’s foreign policy manifesto makes clear the importance he places on improving relations with the rest of the region. On 4 July, the opposition Partido Revolucionario Moderno (PRM) swept to power in […]

Díaz-Canel outlines phase one of ‘economic transformation’ process

The Cuban government has outlined the first phase of an integrated series of economic measures which, if fully implemented and successful, could radically alter the structure and functioning of the Cuban economy within its centralised system of planning. The changes place emphasis on a greater role for the private sector, relating supply to demand, stimulating […]

Remittances to Northern Triangle countries pick up following pandemic lows

Guatemala, El Salvador, and Honduras have all seen a recent upturn in remittances received following steep declines over the course of the pandemic. Guatemala’s Central Bank reported that remittances received in June had increased by 15% compared to May, and were even up slightly on figures received in June last year. Overall, Guatemala’s remittances received in H1 2020 […]

Tax holidays can help aviation and tourism recover

If the Caribbean is to recover from the economic crisis it is facing, governments will need to stimulate tourism in unprecedented ways. David Jessop believes that one answer may be to remove, for a while, taxes and charges on aviation and tourism. After years of failing to find a way to reconcile whether LIAT, the Antigua based […]

Scientists explain how Cuba has brought COVID-19 under control

Against a background of no deaths and no new critical cases for thirteen days, a group of prominent Cuban scientists have discussed the epidemiology of COVID-19 and the treatments that are proving effective in Cuba. Their comments indicate the importance of early testing and the pharma products that Cuba has found to work in treating […]

Opposition PRM sweeps the polls in the Dominican Republic

[image shutterstock] The leader of the Dominican Republic’s opposition Partido Revolucionario Moderno (PRM), Luis Abinader, has won the Dominican Republic’s 4 July presidential elections. The PRM also swept the congressional elections taking control of both the Senate and the Chamber of Deputies enabling it to legislate to deliver on its platform, and to control judicial […]

Tourism in the Caribbean – The Way Forward to Recovery

On Thursday, 2nd July The Caribbean Council hosted the latest of its LIVECaribbean webinar series on “Tourism in the Caribbean – The Way Forward to Recovery”. We were privileged to have three fantastic tourism speakers:  Vincent Vanderpool Wallace – Principal Partner at The Bedford Baker Group; David Weatherson – Business Development Manager at Sun Group; and Patricia Affonso-Dass – Group General Manager of Ocean Hotels […]

The immorality of denying anyone medical support

The provision of health care in support of the weakest in society ought to be beyond politics. David Jessop believes it is reprehensible that US politicians and US Administration are attempting to curtail Cuban medical support for the Caribbean and in many other countries around the world. Last month a bill introduced into the US Senate by […]

Falling rice production indicates growing food supply challenge

Despite having made significant progress in controlling the spread of COVID-19, it is becoming apparent that Cuba now faces as big a challenge in overcoming food shortages. Articles appearing almost daily in the Cuban media indicate that the country’s inefficient, bureaucratic and centrally managed food production system is failing to meet planned targets for staples including […]

CA

On Thursday 11 June 2020, The Caribbean Council had the privilege of hosting Sofia Cobas, Business Director at Central America Data, and Javier Chamorro Rubiales, Managing Partner at Meca Consulting, for our webinar “The evolving economic situation in Central America and the response of governments to COVID-19” Our guests shed light on the region’s management […]

US$252m Northern Triangle aid to promote US security, curb illegal immigration

The US State Department plans to provide aid of US$252m to the Northern Triangle countries of Guatemala, Honduras, and El Salvador, according to a 24 June press statement from US Secretary of State, Mike Pompeo. The aim of the assistance is to boost prosperity and security in the countries in order to decrease illegal immigration […]

Trump Administration ups pressure on Cuban medical programmes

In a further escalation of its pressure on Cuba, the Trump Administration has issued a severely worded report alleging that Cuba’s international medical programmes constitute “forced labour” and a form of “human trafficking”. The State Department’s ‘Trafficking in Persons Report 2020’ comes as Cuban medical brigades are helping fight COVID -19 internationally and governments in the Caribbean […]

Responding to US policy in the Americas

Whether one approves of Mr Trump or not, some of the strategic decisions being taken by his administration will live on with or without him. David Jessop explains why this may particularly be the case when it comes to the Caribbean and Latin America. Later this year, we will know whether President Trump has won a second […]

CCJ halts questionable declaration of Guyana election recount

The Caribbean Court of Justice (CCJ) has issued an order restraining Guyana’s Elections Commission (GECOM) from declaring the outcome of a recount of the votes cast in the country’s 2 March general election. It did so pending a full hearing of a challenge to a decision by the country’s Chief Election Officer, Keith Lowenfield, to invalidate nearly 115,787 or […]

Guyana and Suriname: The next 5 years

On 4 June, The Caribbean Council, in partnership with Stoneturn, was pleased to host the webinar ‘Guyana and Suriname: The Next Five Years’. Following unprecedented excitement surrounding new oil discoveries in Guyana and Suriname, the recent elections in both countries will bring in governments that will be faced with new challenges. Economic uncertainty prevails given the decline in the price of oil due […]

Malmierca says new opportunities coming for smaller foreign investors

Cuba’s Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, has said that Cuba is looking at new opportunities for smaller foreign investors in relation to manufacturing for the domestic economy and export. Such opportunities could involve either the state or non-state sector, Malmierca explained. Speaking on Cuban television, he outlined the new areas under consideration […]

Britain’s culture war and the Caribbean

History cannot be changed but deserves to be better understood and explained. David Jessop believes that the Caribbean has a central role to play in explaining to Britain why its colonial history is so problematic. Last week a culture war erupted in Britain over its colonial history. Ostensibly the debate revolved around how to respond to public […]

Panama grants operating licence to major Chinese bank, ICBC

Panama has licensed the Industrial Commercial Bank of China (ICBC) to carry out banking operations “in and from” Panama. ICBC, which is one of China’s four major state-owned commercial banks and the largest bank in the world by total assets, already operates in Mexico, Argentina, Brazil, and Peru. It now aims to use Panama as […]

Cuba to begin phased recovery from impact of COVID-19

Cuba’s President Miguel Díaz-Canel has said that Cuba is now able to undertake a staged recovery from the COVID-19 pandemic. His announcement on 11 June follows the declaration that almost all Cuban provinces and municipalities, with the exception of a district of Havana (Cuba Briefing 8 June 2020), have been without incident for almost a month and […]

A unique opportunity to reset the relationship with the cruise lines

As the region begins to recover from the effects of the virus this should be the time when governments look to the future, jointly explore how the cruise lines can be encouraged to put much more back, and play a genuinely sustainable developmental role, David Jessop suggests. Even at the best of times, the cruise lines are […]

Unofficial results from recount show Guyana’s opposition have won election

A comprehensive 33-day recount of votes cast in Guyana’s 2 March election indicates that the opposition People’s Progressive Party/Civic (PPP/C) has taken 33 seats, to the governing A Partnership for National Unity + Alliance for Change (APNU+AFC) Coalition’s 31. Under the country’s proportional representation system one seat is expected to go to other parties standing as Joinder […]

Venezuela – proxy for a ‘cold war’ in the Americas

Venezuela has become a proxy for the geopolitical and cultural struggle for influence and advantage in the Americas that is being waged by the US, China, Russia and others . David Jessop writes that, as in the 1980s, the Caribbean is in danger of being co-opted into a new cold war. A few days ago, Venezuela’s government […]

Trump Administration moves to end remittances

The Trump Administration announced on 3 June new measures designed to halt the flow of US remittances through the Cuban financial institution FINCIMEX. The company is the principal Cuban intermediary for Western Union and other money transfer companies, and the partner for foreign credit card companies. The decision, which the US Government says was made […]

US-China trade war offers opportunities for Central America, says Trump advisor

Mauricio Claver- Carone, an advisor to US President Donald Trump on Latin American and the Caribbean, has said that the worsening relations between the US and China present opportunities for Central America. A survey from September 2019 showed that some 13% of US companies in China planned to leave or had already left the country, […]

Common health protocols the key to tourism’s safe return

If tourism is to return safely a common health framework will be required. David Jessop says achieving this will not be easy. It will have to meet national, regional and international requirements, and coincide with the thinking of external industry partners Since late April there have been virtually no tourist arrivals in the Caribbean. In the last […]

Spike in COVID-19 cases in Havana sets back national recovery

Cuba’s President, Miguel Díaz-Canel, has said that the extent to which the country can move forward to the first phase of post COVID-19 recovery will depend on greater cooperation, support and responsibility from the people of Havana. According to Cubadebate, a 30 May meeting of the government committee regularly reviewing progress heard that 111 new […]

Caribbean governments taking different approaches on timing to reopen tourism

Caribbean governments have begun to make plans to reopen businesses and borders for tourism and international travel. However, some nations have announced the dates when they will do so, while others have not. In addition, the region has yet to agree protocols with airlines and cruise lines, and a standard for establishing safe corridors for […]

Economic Resilience and Capital Markets

Webinar: “Economic Resilience and Capital Markets in the Caribbean after COVID-19” Date: Tuesday, 26th May.Speakers:  Rachel Collie – Research Associate – The Caribbean Council, Mrs Marlene Street-Forrest C.D., JP – Managing Director at Jamaica Stock Exchange, Mr. Mark Young – CEO and Co-Founder at Carilend  For this webinar event in our series ‘Information Exchange’, The Caribbean Council was pleased to […]

Costa Rican Government announces post-pandemic economic stimulus package

Costa Rica’s government has announced its comprehensive “Post-COVID-19 Economic Route” plan, which aims to reinvigorate the economy through measures ranging from public expenditure to business loans to incentivising hemp production. The plan includes US$1.6bn in loans with preferential rates for the productive sector, aiming to give businesses a boost and generate employment. It also makes […]

President says Cuban science has brought virus under control

President Díaz-Canel, has recognised the central role of Cuban science in bringing the COVID-19 epidemic under control. Noting that the country had experienced six consecutive days without deaths, was seeing a significant reduction in the number of critically ill and seriously ill patients, as well as more people leaving medical facilities than entering them, he […]

Global leadership and the search for a vaccine

Sooner or later, one or another country working on finding a vaccine for COVID-19 will be successful. David Jessop believes that the real test of multilateralism will be whether it is made available at or near cost for generic global production and distribution. Scientists and pharmaceutical companies around the world are hopeful that before long […]

CARICOM Heads agree to steps required to reopen the regional economy

CARICOM Heads of Government have said that they intend to gradually reopen the Caribbean economy on a co-ordinated basis, primarily using public health considerations as the criteria. A communiqué issued following an emergency online summit held on 5 May noted that CARICOM Heads had taken note of a presentation by a Regional Working Group which […]

Britain, Brexit and an impending crisis

CARICOM foreign ministers have said that developments in Europe will have a profound impact on the nature of existing relationships. David Jessop, believes that their view is well founded given the very different positions being adopted by the EU and UK towards Brexit. A moment will come at the end of June when the European Union […]

Tourism Ministry says country not yet ready to open to visitors

In response to growing social media speculation about the reopening of Cuba’s tourism sector, the country’s Ministry of Tourism (MINTUR) has said that it will not open to visitors until government declares it is safe to do so. The MINTUR statement followed the announcement by several airlines including Air Canada, American, and South West that they had begun […]

COVID-19 and Cuba – Impacts on the Economy and Government

Webinar: “COVID-19 and Cuba – Impacts on the Economy and Government” Date: Thursday, 30th April.Speakers:  Her Majesty’s Ambassador to Cuba, Antony Stokes, William White who is the director, Higher Ground Antillean Fund ltd. For this second webinar event in our series ‘Information Exchange’, The Cuba Initiative was pleased to host a discussion on the impacts of the COVID-19 health crisis on […]

Costa Rica begins phased approach to easing lockdown

Costa Rica has begun a gradual phasing out of lockdown restrictions after seeing a fall in active cases and a limited total number of deaths due to COVID-19. The start of May saw sports centres, cinemas, and hairdressers able to reopen, albeit with limited capacity and strict social distancing and hygiene measures in place. Authorities […]

Cuba’s President calls for faster pace of agreed reforms to spur recovery

[Photo: frontera.net] A report of a meeting of Cuba’s Council of Ministers to consider changes to the country’s 2020 economic plan has quoted President Díaz-Canel as saying that “above all” it will be necessary to begin designing the country’s recovery from COVID-19. “How are we going to open up tourism, how are we going to open up flights, from which countries, with which […]

When the pandemic is over

The pandemic will pass. The long term challenge, David Jessop writes, will be whether the region can come together to respond to the multiple structural shortcomings it has exposed, and the likelihood of a global recession. A day will come when a vaccine is available, the World Health Organisation confirms there are no new coronavirus cases, and […]

Covid-19 Impact: Insights into the Caribbean Region, Tourism and Food Sustainability

On Wednesday, 15th April, The Caribbean Council was delighted to launch our “Information Exchange Series” – this was the first of many sessions aimed at helping our members through this difficult period. “Covid-19 Impact: Insights into the Caribbean Region, Tourism and Food Sustainability” was the topic of our first webinar.  Panelists included our Director for Corporate and […]

The way ahead for Caribbean tourism

Recovering Caribbean tourism will be complex, not least because it will involve external factors beyond the region’s control. David Jessop considers how a gradualist approach might work and why the pandemic demonstrates the need for a sustainable, better integrated and more socially relevant industry. What might the shape of post COVID-19 economic recovery look like? This is a […]

Imperial sells its premium cigar business

Imperial Brands has agreed to sell its premium cigar business to two investment consortia for a total of €1,225m (US$1.3bn). Gemstone Investment Holding Ltd will acquire Premium Cigar USA for a total consideration of €185m (US$202m), and Allied Cigar Corporation will acquire Premium Cigar RoW for a total consideration of €1,040m (US$1.1bn). The latter sale includes 50% of Cuba’s Habanos SA […]

Oil price crash and Covid-19 push Trinidad budget deficit to US$2.3bn

Citing the collapse in world oil prices and the negative impact of the COVID-19 pandemic on the Trinidad economy, the country’sFinance Minister, Colm Imbert, has said that government now anticipates a 2020 budget deficit of TT$15.5bn (US$2.3bn). Its original budget estimate was TT$5.3bn (US$784m). In a statement to Parliament, Imbert said that fiscal 2020 will […]

Higher demand for energy causing government concern

Much higher than usual demand for electricity in April as a result of stay at home orders, plus unusually high temperatures across Cuba are causing concern that measures may have to be taken to reduce or control energy consumption. According to Cuba’s National Energy Council, the planned for mid- day peak has been exceeded by […]

Balanced tourism recovery a key to future Caribbean growth

Tourism recovery will be central to future Caribbean economic growth, but many challenges lie ahead. David Jessop believes that the crisis facing the industry offers an opportunity to consider how to rebalance Caribbean economies so that the region is much less reliant on the fortunes of a single sector. The challenge that is now facing almost every […]

Attacking the WHO has further diminished US global influence

The US President’s decision to attack the World Health Organisation at the time of a pandemic has diminished Washington’s standing in the world. David Jessop writes that the decision will make it harder for Washington to turn the rising tide of Chinese soft power in the Caribbean and elsewhere. It is hard to imagine an action more […]

Tourism’s recovery holds key to future Caribbean growth

The Business of Tourism David Jessop The challenge that will soon face almost every Caribbean country will be the recovery of tourism, without which future economic growth will be all but impossible. The COVID-19 pandemic has shuttered the industry globally, made hundreds of thousands of workers unemployed, pushed many hotels, airlines and cruise companies into […]

Clinical trials underway on vaccine to boost immunity to COVID-19

The Director of Research at Cuba’s Centre for Genetic Engineering and Biotechnology (CIGB), Dr Gerardo Guillén, has said that a clinical trial is underway on a vaccine aimed at activating the immune system to help combat COVID-19. Speaking on the live television and radio programme Mesa Redonda, Guillén said that a vaccine known as CIGB 2020 is […]