State of Siege Announced in Guatemala
23 January 2026 Following disturbances in three prisons linked to changes in privileges, gangs attacked police officers in and around the capital Guatemala City. This resulted in 10 police deaths and caused President Bernardo Arévalo to ask for a State of Siege which restricts some constitutional guarantees for a month. This was passed by Congress […]
Díaz-Canel warns US that any understanding or dialogue cannot involve coercion
19 January 2026 President Díaz-Canel has warned Washington in a fiercely nationalistic speech that it will not be possible to achieve any understanding or negotiation with Cuba based on “coercion.” He said, however, his government is willing to engage in a dialogue with the US if it is undertaken on the basis of “equality” and […]
US visa pressure mounts for Caribbean despite agreements to accept migrants
16 January 2026 Pressure is mounting on Caribbean governments after the US announced that it will suspend immigrant visa processing for 75 countries including several from the region. The list, published by several international media outlets, includes Antigua and Barbuda, Barbados, Cuba, Dominica, Grenada, Haiti, St Kitts and Nevis, St Lucia and St Vincent and […]
Honduran Transition Stalled, Nasry Picking Cabinet
9 January 2026 With two weeks to go before the handover of power in Honduras, following a disputed and close election, Nasry Asfura continued to pick his cabinet. This was before the president-elect departed for his first official trip to the US and Israel. One name being touted for the foreign ministry is Mireya Agüero […]
Central Bank introduces managed floating foreign exchange rate
05 January 2026 Cuba’s Central Bank (BCC) has announced a new floating exchange rate, modified daily, based on supply and demand. The measure announced on 18 December is principally intended to enable private and state-owned exporting companies and certain other entities to buy foreign currency at “competitive prices.” The decision has the effect of dividing […]
New forex controls on Cuba-based business likely to reinforce dollarisation
15 December 2025 Cuba’s Council of State has approved a Decree Law and several resolutions that establish a new “transitional” mechanism for the management, control, and allocation of foreign currency. The measures seek to boost exports and productive enterprises, but are also likely also to reinforce the dollarisation of the Cuban economy. The new regulations […]
Gonsalves out after St Vincent election, PM Pierre re-elected in St Lucia
24 December 2025 The Eastern Caribbean political map shifted dramatically as one of the world’s longest-serving democratic leaders was voted out in St Vincent and the Grenadines, while Prime Minister Phillip Pierre tightened its grip on power in neighbouring St Lucia. In Kingstown, Godwin Friday of the New Democratic Party (NDP) was sworn in as […]
Minister outlines new approach to foreign investment
01 December 2025 Cuba’s Minister of Foreign Trade and Foreign Investment has said that Cuba will introduce shortly a series of measures designed to revitalise foreign investment in Cuba. Speaking at the opening of the Eighth Investment Forum held during the Havana International Fair (FIHAV 2025), Deputy Prime Minister Oscar Pérez-Oliva, outlined what he described […]
US removes tariffs on key CARICOM exports
28 November 2025 The US has removed key “reciprocal” tariffs on several Caribbean Community (CARICOM) exports, reversing measures that regional producers said were squeezing earnings and raising prices. An executive order signed by US President Donald Trump on 14 November 2025 ends tariffs imposed in April 2025 and modified in August, restoring duty-free access for […]
Díaz-Canel seeks unity on revised macro-economic reforms
25 November 2025 President Díaz-Canel, speaking as President of the National Defense Council, has told Cuba’s Council of State that the coming process of studying and analysing the Government’s recently revised and published programme of macro-economic reform must be “a participatory and constructive exercise.” It must also, he said, be a “collective construction that the […]
CAF to Allocate US$40bn to LatAm Sustainable Projects
21 November 2025 Over the next five years, the Development Bank of Latin America and the Caribbean (CAF) has announced a US$40bn investment in sustainable growth and promotion of climate action. This includes energy transition, water security, sustainable mobility, agricultural prosperity and conserving key ecosystems on the planet from the Amazon to mangroves. To achieve […]
Hurricane Melissa’s toll on Jamaica could reach US$20bn
14 November 2025 The full economic toll of Hurricane Melissa on Jamaica is rapidly escalating, with new modelling suggesting losses could exceed US$20bn, a value higher than the country’s entire 2024 economic output, even as international aid, insurance payouts and private relief efforts intensify. Moody’s Event Response Services now estimates that overall economic losses from […]
BAC Plan to Buy Panama’s Multibank
7 November 2025 BAC International Corp. (BIC) has revealed plans to purchase Multibank in Panama, a move that would make it the largest bank in Central America by market share. The purchase is subject to approval by the respective banks’ directors, shareholders and regulatory authorities. It would give BAC US$43bn in assets, US$30bn in loan […]
Melissa causes extensive damage to Cuba’s southeastern provinces
03 November 2025 Cuba has begun recovery efforts following the passage of the downgraded but still powerful, Hurricane Melissa, a Category 3 storm, that hit Cuba’s southeastern coast in the early hours of 29 October. The storm had earlier caused extensive damage to western Jamaica. Melissa made landfall with sustained winds of 193 km/h (120 […]
US government providing US$3mn post hurricane relief through Catholic Church
10 November 2025 Cuba’s government has described as “positive” its cooperation with the Catholic Church in relation to the delivery of US$3mn in US post-hurricane humanitarian assistance. Its comments follow an agreement that the Church would coordinate US aid intended for Cubans in the island’s eastern provinces. Writing on social media, the Ministry of Foreign […]
Jamaica, Cuba hard-hit by Hurricane Melissa
31 October 2025 Hurricane Melissa has left a trail of destruction across Jamaica and eastern Cuba, with winds that topped 185 mph and a regional death toll that climbed as search-and-rescue teams reach cut-off communities in several countries. On Thursday, Jamaica confronted the aftermath of what officials called the most powerful storm in its recent […]
Conceptual shift in Cuban thinking about foreign investment
27 October 2025 In a far-reaching decision for Cuban tourism and potentially all foreign exchange earning foreign investments, the Spanish hotel group Iberostar has signed a lease agreement with the Gaviota tourism group.. This will enable Iberostar to have operational autonomy over the Iberostar Origin Laguna Azul hotel in Varadero, a property it presently manages, […]
Official media report suggests government’s food price cap ineffective
20 October 2025 A hard-hitting report has appeared in the official publication Cubadebate indicating that government measures introduced to cap food prices in Havana are having little effect and unintended consequences. The investigative report came three days after the official Communist Party publication, Granma, wrote on 13 October that inspection and price control measures have […]
US$8.81bn budget tabled in Trinidad and Tobago
17 October 2025 Trinidad and Tobago’s new administration has tabled a national budget totaling US$8.81bn for fiscal 2025/26, underpinned by oil at US$73.25 a barrel and natural gas at US$4.35 per mmbtu. Presenting his maiden package, Finance Minister Davendranath Tancoo told Parliament that the government expects to raise roughly US$8.24bn in revenue, US$8.81bn in spending […]
Fall in export earnings ‘making it hard to meet economic needs’
13 October 2025 Falling foreign currency earnings from exports are affecting Cuba’s ability “to purchase supplies, raw materials, fuel, food, and other products essential to the economy and society,” according to an official media report of a recent meeting of Cuba’s Council of Ministers. Although few economic details and no statistics were published, the meeting […]
World Bank Predicts Guatemala and Panama to lead Regional Growth
10 October 2025 World Bank forecasts for 2025 predict that Guatemala and Panama will lead Central American growth in 2025 with 3.9% GDP each. Costa Rica will be third with 3.6%, Honduras 3.5%, Nicaragua 3.1% and El Salvador with 2.5%. Countries that are included in the report due to them being part of the Central […]
Cuba’s railways struggle to overcome lack of resources and investment
06 October 2025 Amid continuing uncertainty about whether Russia will invest in modernising and upgrading the Cuban railways system, Cuba’s state media has detailed the steps the Unión de Ferrocarriles de Cuba (UFC) is taking to try to improve its aging infrastructure. In an extended analysis, the official media platform Cubadebate has outlined the strategic […]
ExxonMobil makes US$6.8bn Hammerhead FID in Guyana
03 October 2025 ExxonMobil has sanctioned its seventh major offshore project in Guyana, approving a final investment decision (FID) of US$6.8bn for the Hammerhead development in the Stabroek Block. The move comes a decade after the first oil discovery in the basin, underscoring Guyana’s emergence as one of the fastest-growing oil producers in the world. […]
FIFCO Agrees US$3.25bn Regional Deal with Heineken
26 September 2025 Florida Ice and Farm Company (FIFCO) agreed a US$3.25bn deal with Heineken to sell the remaining 75% of its stake in Distribuidora La Florida SA. This will include food and beverage operations in Costa Rica and Guatemala, a beverage business in Mexico and stakes in beer companies in Nicaragua and Panama. FIFCO […]
Growing concern about impact of worsening power and water supply
22 September 2025 In an indication of the growing seriousness of Cuba’s worsening power and water supply situation, Cuba’s President has led a high-level meeting to discuss an action plan to address the country’s lengthening periods without power and related water shortages. The meeting, which appeared similar in format to a Council of Ministers’ meeting, […]
New cabinets sworn in Guyana and Jamaica
19 September 2025 Guyana and Jamaica formally ushered in new Cabinets this week, signalling sharpened agendas in two countries at pivotal moments. Guyana is in the midst of an oil-fuelled boom and Jamaica sees the start of an historic third term for Prime Minister Andrew Holness who is pushing for reform and growth. In Guyana, […]
Cuba’s private sector demonstrates ability to stimulate growth
15 September 2025 Recently published official figures indicate that Cuba’s non-state MSMEs have begun to make a major economic contribution in consumer related sectors and services despite severe bureaucratic and regulatory impediments. However, according to a recent report by the US-based Cuban academic, Ricardo Torres, the sector continues to be seen by Cuba’s political leadership […]
“Not Best Time for Central American Integration” – El Salvador VP
12 September 2025 El Salvador Vice President Félix Ulloa believes it is not the best time to talk about regional integration given that a new Sistema para la Integración Centroamericana (SICA) general secretary has not been agreed upon. Nicaraguan lawyer Werner Vargas resigned in November 2023, having been elected for the 2022-2026 period. Since then, […]
China’s President confirms willingness to provide greater support to Cuba
08 September 2025 President Xi Jinping has told President Díaz-Canel that China “is willing to continue providing assistance and support to Cuba to the extent of its possibilities.” His remarks follow from an important bilateral meeting that took place in Moscow in May when both leaders attended Russia’s celebration of its World War II victory […]
Incumbent governments re-elected in Guyana & Jamaica
5 September 2025 Voters in Guyana and Jamaica delivered fresh mandates to their incumbent leaders this week, extending the region’s recent streak of political continuity while reshaping opposition landscapes in both countries. In Guyana, President Irfaan Ali declared victory for a second five-year term as his People’s Progressive Party (PPP) surged to decisive district wins […]
Cuban operating environment proves challenging for Sherritt
01 September 2025 The Canadian miner Sherritt International Corporation which mines nickel and cobalt in Cuba then refines it, has reported to investors that in the six months ended 30 June 2025, the operating environment in Cuba and hardening US policies have impacted negatively on its operations. Leon Binedell, the Executive Chairman, President and CEO […]
Millions in agreements signed at AfricaCaribbean Forum
8 August 2025 The fourth AfriCaribbean Trade and Investment Forum (ACTIF2025), held from 28-29 July, marked a milestone in Africa-Caribbean economic relations, with over US$290mn in agreements signed across sectors such as infrastructure, education, tourism, and trade. Under the theme “Resilience and Transformation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty,” the Forum […]
Region Attracts US$3.12b in FDI in Q1 2025
01 August 2025 Central America attracted US$3.12b in Foreign Direct Investment in the first quarter of 2025, a 2.8% increase year-on-year. The biggest winner was El Salvador with US$322m in investment, 65% more than in 2024. Conversely, Panama suffered the greatest loss with US$526m, 51% less than the previous year. With US$921 in FDI, Costa […]
National Assembly and Party meetings suggest uncertain period lies ahead
28 July 2025 Speeches and interventions made during the recently ended meeting of Cuba’s National Assembly and an earlier plenary session of the Central Committee of Cuba’s Communist Party suggest that the island may be entering a period of increased economic uncertainty, that government may struggle to deliver its economic objectives, and could find it […]
Trinidad and Tobago enacts new State of Emergency
25 July 2025 Prime Minister Kamla Persad‑Bissessar has declared a nationwide State of Emergency (SoE), marking the second such decalaration in under a year since last December’s emergency lapsed in mid‑April. The move comes after police uncovered a “coordinated and highly dangerous criminal network” operating within the prison system and plotting “assassinations, robberies, and kidnappings.” […]
National Assembly told Cuba facing ‘a most difficult moment’ in its history
21 July 2025 Describing the present moment as being amongst the most difficult in recent Cuban history, President Díaz-Canel has called on all Cubans to commit their energy and effort to finding solutions to meet the challenges now facing the country. “This is not the first time, nor will it be the last, that the […]
Remittance Tax to Impact Central America and Mexico most
18 July 2025 With the US Senate having agreed to a 1% remittance tax in the Big Beautiful Bill Act, regional countries are counting the cost of its implementation with questions on oversight and mechanics. The Guatemala Central Bank, Banguat, calculates an impact of US$200-225m, Honduras has estimated the tax will cost the country US$100m. […]
Communist Party told unity, authority, self-sufficiency now essential
14 July 2025 Cuba’s President has said that Cuba is now “a country at war.” It is, he told a Central Committee plenary of Cuba’s Communist Party held on 4-5 July, at risk from a “Machiavellian combination” of actions by the US Administration. Washington “not only aims to destroy the scarce resources” that Cuba has, […]
Several agreements signed as India’s Modi visits Trinidad
11 July 2025 Indian Prime Minister Narendra Modi’s visit, the first by an Indian Prime Minister in Trinidad and Tobago’s history, has culminated in the signing of 15 bilateral agreements spanning health, education, trade, digital services, agriculture, justice and culture. Modi, who landed amid elaborate security arrangements, was welcomed by Prime Minister Kamla Persad-Bissessar who […]
New US Cuba security policy set to widen secondary sanctions risk
07 July 2025 President Trump has signed a National Security Memorandum, tightening and extending significantly US sanctions on Cuba. The order is expected to expose non-US companies to greater secondary US sanctions risk if they transact or do business with any of the many Cuban enterprises and their subsidiaries that are linked to Cuban military […]
US Senate Approves 1% Remittance Tax
3 July 2025 The One Big Beautiful Bill Act passed 51-50 in the US Senate with a 1% tax on remittances and substantial changes made to where it will apply. Originally starting at 5%, it was first reduced to 3.5% then 1% with countries like Honduras estimating the cost at US$500mn a year. The tax […]
Bahamas raises US$1.07bn on international markets
27 June 2025 The Government of the Bahamas has marked its first return to international capital markets since 2022 with the successful issuance of an 11-year, US$1.067bn bond, proceeds of which will fund the repurchase of US$767mn in outstanding Eurobonds. Announcing the transaction on 18 June, the Office of the Prime Minister highlighted strong investor […]
ETECSA modifies internet rates – issue remains socially, politically sensitive
23 June 2025 In a new response to citizen and student concern about recent increases in the cost of mobile internet access, the state telecoms company ETECSA has announced limited modifications to its plans. A previous announcement led to student unrest and more generally, widespread national criticism on social media. The issue remains politically and […]
Protests continue in Panama, Bocas del Toro Cut off
Panama’s two-month long strike continues with teachers voting to maintain industrial action and residents claiming police overreacted in altercations across the country. The province of Azuero has issued a state of emergency for lack of drinking water whereas Bocas del Toro sees at least 20 roads closed despite police operations to reopen them. President Jose […]
ExxonMobil Guyana profits reach US$4.73bn, assets up
13 June 2025 ExxonMobil Guyana Limited (EMGL) has reported substantial profits of US$4.73bn for 2024, marking a significant 62% increase from US$2.92bn the previous year. The jump is primarily driven by increased oil production from the Payara project, which commenced operations in November 2023. John Colling, EMGL’s Vice President and Business Services Manager, attributed this […]
Government responds to student protests after sharp internet price hike
09 June 2025 Cuba’s President has accused outside forces of trying to create unrest and instability following a badly mishandled announcement on 30 May of an immediate sharp increase in mobile internet rates by the state telecoms provider ETECSA To the concern of government, which surprisingly had not foreseen the likely response, ETECSA’s statement was […]
State of Emergency in Bocas del Toro as Panama Strike Continues
The Panama government has passed a State of Emergency in embattled province Bocas del Toro with road closures and protests continuing. This follows the sacking of thousands of banana workers at Chiquita after the company claimed losses amounting to more than US$75mn over the month-long industrial action. The company has now suspended all operations in […]
Coalition agreed in Suriname after election deadlock
30 May 2025 Suriname’s political landscape has been thrust into high-stakes coalition negotiations following Sunday’s general election, which delivered a near-deadlock between the ruling Progressive Reform Party (VHP) and the opposition National Democratic Party (NDP). With neither party securing a parliamentary majority, the battle to form a governing coalition has begun, as the country stands […]
Collapse in sugar production signals new economic crisis for Cuba
26 May 2025 As Cuba’s 2024-25 sugar campaign draws to a close, provincial reporting, as well as industry sources cited by Reuters, suggest that the island is headed this year for an unplanned for production shortfall of as much as 100,000 metric tons. The outcome is likely to have a negative impact on the Cuban […]
New government assumes office in Trinidad and Tobago
15 May 2025 Kamla Persad-Bissessar has returned as Prime Minister of Trinidad and Tobago, vowing to lead a compassionate, inclusive, and decisive administration. Her United National Congress (UNC) secured a majority by winning 26 out of 41 seats, effectively ending the People’s National Movement’s (PNM) decade-long governance. “You will be my priority. You must always […]
Díaz-Canel’s Russia visit indicates economic ties likely to deepen
12 May 2025 High level exchanges held during a five-day visit by President Díaz-Canel to Moscow and St Petersburg suggest that economic relations between Russia and Cuba are set to deepen. The visit, in response to an invitation from President Putin to attend Russia’s celebrations of its World War II victory over fascism, saw Cuba’s […]
US exempts Caribbean from USTR tax on Chinese vessels
02 May 2025 Caribbean nations are breathing easier after securing a major diplomatic and economic victory with the US’ decision to exempt the region from steep tariffs on Chinese-built ships. The decision, which protects critical supply chains and stabilises shipping costs was announced on 17 April 2025 by the Office of the United States Trade […]
ETECSA says unable to obtain forex to upgrade Cuba’s telecoms network
22 April 2025 TCuba’s state run telecommunications company, ETECSA SA, has publicly acknowledged that it is unable to obtain the foreign exchange it needs to maintain the required level of investment in technology to continue upgrading its aging network. Speaking to Cubavisión Internacional, the official worldwide arm of the domestic Cubavisión network, Kevin Castro, the […]
US cancels gas licences for Trinidad-Venezuela projects
18 April 2025 The US has revoked key licences that enabled Trinidad and Tobago to pursue joint natural gas projects with Venezuela, in a move that has sent shockwaves through the nation’s energy sector and raised questions about its economic future. Prime Minister Stuart Young confirmed the revocation of the Office of Foreign Assets Control […]
Minister assures Cubans that recovery of electrical system is advancing
07 April 2025 Cuba’s Minister of Energy and Mines, Vicente de la O Levy, has insisted that the recovery of Cuba’s National Electricity System (SEN) is “on schedule” and that a positive outcome of everything planned “will soon be seen.” His comments come as extensive daily power outages continue because of fuel shortages, breakdowns, and […]
Caribbean hit with US tariffs days after positive Rubio visit
04 April 2025 Only days after US Secretary of State Marco Rubio’s tour of the Caribbean, President Donald Trump has created another powder keg when he announced sweeping global tariffs on countries including those in the region. Trump’s 1 April executive order imposed a blanket 10% tariff on most Caribbean countries, while in the case […]
Think Tank Highlights Columbus Speed Cargo in Central America
Central American cargo moves at 16 km/h, equivalent to Christopher Columbus’s caravans, according to Think Huge president Juan José Daboub. The business think tank suggested that containers from Panama-Mexico need to move around 90 km/h which would require fundamental changes to road building and customs. Daboub highlighted that part of the US$7bn that has been […]
Panama Port Sale Delayed after China Pressure, Criminal Complaint
Chinese antitrust regulators will review the deal between CK Hutchison and BlackRock over the US$19bn deal for two Panama ports. BlackRock has admitted that this could mean a delay of at least nine months on the sale of 43 ports in 23 countries. Further complicating the transaction is Panama’s Comptroller General Anel Flores filing a […]
Panama Strike Threatening to Boil Over
Panama’s national strike that began 24th April, continues with more groups looking to join in the near future. Protesters are complaining about President José Raúl Mulino’s deals with the US, reform of the pension system and educational independence after police entered the University of Panama grounds. Beginning with construction and teacher unions, this has spread […]
Guatemala Begins Process to Join CAF
Guatemala has begun the process to join the Development Bank of Latin America and the Caribbean (CAF). The Finance Ministry revealed the news, describing the move as a ‘historic milestone for regional integration’. CAF Executive President Sergio Díaz-Granados stated that the agreement would expand their continental reach, promote economic recovery of the region and boost […]
US federal jury finds against Expedia in landmark US$30mn Title III decision
28 April 2025 In a landmark decision, a US Federal judge sitting with a jury in Miami has ordered the Expedia Group to pay US$29.8mn to a Cuban-American businessman living in Miami. The ruling follows a finding in his favour under Title III of the Helms-Burton Act. The decision may be appealed to the US […]
Caribbean states seek clarity on US travel restrictions
21 March 2025 Several Caribbean countries are breathing a bit easier after the US disputed reports that it is considering implementing new travel restrictions that could affect six Caribbean nations—St Lucia, Antigua and Barbuda, Dominica, St Kitts and Nevis, Haiti and Cuba. According to the The New York Times, countries have been categorised into three […]
CARICOM ministers defend Cuban medical support, criticise US visa withdrawal
17 March 2025 The US Secretary of State, Marco Rubio, is expected to visit the Caribbean before the end of March to meet with CARICOM governments to discuss among other matters the decision by the Trump Administration to revoke the visas of Caribbean facilitating Cuba’s medical missions to the region and elsewhere. (Background Cuba Briefing […]
BlackRock Seals US$22.8bn Panama Ports Sale from Hutchison
14 March 2025 CK Hutchison Holdings Ltd have agreed a deal in principle to sell 90% of Panama Port Company to BlackRock-TiL for US$22.8b. This will give BlackRock Inc through Global Infrastructure Partners and Terminal Investment Ltd control over the concession to operate ports in Cristobal and Balboa in Panama. The consortium already has interest […]
Bukele and Trump Find Common Ground
25 April 2025 El Salvador President Nayib Bukele met with his US counterpart Donald Trump in the White House to discuss migration and security. Much of the focus has been on the case of Kilmar Ábrego Garcia, a Maryland resident deported to the notorious CECOT mega prison in Angulo. Critics have highlighted that there was […]
Uncertainty about Trinidad’s Dragon gas deal grows as Trump clamps down on Venezuela
10 March 2025 The fate of Trinidad and Tobago’s highly anticipated Dragon gas deal with Venezuela has been thrown into uncertainty following a series of hardline measures by US President Donald Trump against the Maduro Administration. The Trump administration’s recent policy reversals have cast doubt on whether the project, vital for Trinidad’s energy security and […]
Havana Club rum sales continue to grow – China a future market focus
10 March 2025 Sales of Havana Club rum continue to grow both in Cuba and internationally according to Cristian Barré, the CEO of Havana Club International SA. Havana Club, one of several brands in the portfolio of Pernod Ricard and Havana Club International (HCI) is a joint venture between state-owned Cuba Ron and France’s Pernod […]
CARICOM advancing with free movement, treaty amendments
07 March 2025 The Caribbean Community (CARICOM) is making strides in regional integration, as leaders push forward with plans for free movement, treaty amendments, and deeper international cooperation. The 48th Regular Meeting of the Conference of Heads of Government, held in Barbados from 19 to 21 February 2025, reaffirmed the bloc’s commitment to unity and […]
Economy and Planning ministry told it must adapt to need for a war economy
03 March 2025 President Díaz-Canel has called for the Ministry of Economy and Planning (MEP) to “have a clear strategy and more coherent thinking on economic issues in the difficult circumstances which the country is facing.” In unusually direct language, he said that the Ministry must from now on carry out a permanent analysis of […]
CABEI Debuts on Sterling Market
28 February 2025 The Central American Bank for Economic Integration (CABEI) issued its first benchmark-size bond for £750 million in London. Bids reached over £3.1 billion with over 100 investors, a 10.3 oversubscription of the initial target amount and 4.1 times the issuance. The allocation was distributed among central banks, official institutions, investment funds, insurance […]
Cubaniquel expects full recovery of JV with Canada’s Sherritt in 2025
24 February 2025 Cuba’s nickel and cobalt miner, Cubaniquel SA, has said that it expects production and efficiency at its joint venture with Canada’s Sherritt International to recover this year following a difficult 2024. Speaking on the television and radio programme Mesa Redonda, Leonardo Rosell, the Director General of the company said that the business […]
Jamaica to see spending cuts, Barbados announces record budget expenditure
21 February 2025 Jamaica and Barbados have taken different fiscal paths for the upcoming financial year, with the former announcing significant spending cuts while the latter plans to embark on its most ambitious expenditure programme yet. In Jamaica, the government has announced plans to reduce its budget by JM$126bn (US$810mn), bringing total spending for the […]
Bill tightening sanctions on Cuba and ‘foreign persons’ reintroduced in Senate
17 February 2025 The US Senators Rick Scott (R-Florida) and Tommy Tuberville (R-Alabama) have reintroduced a bill aimed at passing into law measures imposing “severe sanctions” on the Cuban government, and on third parties and entities engaged in transactions with sanctioned Cuban persons and bodies. If passed, The Democracia Act (Denying Earnings to the Military […]
US Considering CAFTA Changes to Remove Nicaragua
14 February 2025 The new US government is considering a renegotiation of the CAFTA trade treaty that would remove countries from it. This could include Honduras and Nicaragua or any country that refuses to accept deportees. The US considers that Nicaragua is actively dealing in the trafficking of migrants and the special envoy for Latin […]
Council of Ministers approve plan to create a new forex market this year
10 February 2025 Cuba’s Council of Ministers have approved a detailed action plan for 2025 that places special emphasis on the delivery of “a new mechanism for the management, control and allocation of foreign currency for all economic actors; the creation of a foreign exchange market, and the partial dollarisation of the economy.” Cuban official […]
The DR secures US$6.75bn in investment at FITUR 2025
07 February 2025 The Dominican Republic has solidified its standing as a premier global tourism destination by securing an impressive US$6.75bn in investments at the FITUR 2025 international tourism fair in Madrid, Spain. This marks a significant increase from last year’s US$3.5bn and underscores the country’s growing appeal among investors and international stakeholders. Tourism Minister […]
Cuba ‘ahead of most Latin nations’ on cybersecurity: rapidly developing AI
03 February 2025 Cuba is now far ahead of most countries in the region in relation to cybersecurity despite the absence of co-operation from the US, according to senior Cuban officials. It is also rapidly developing an Artificial Intelligence capacity through an integrated programme involving state and private sector entities. Speaking during a recent edition […]
CABEI Issues US$1.5b Sustainable Bond after Record Year
31 January 2025 The Central American Bank for Economic Integration (CABEI) issued a US$1.5b sustainable bond. The bond will expire in 2028 with a rate of 4.75% and had US$4b of offers from 110 investors with the majority being central banks and institutions. The funds raised will go towards regional social, green and blue projects. […]
Trump reimposes Cuba terrorism designation, sanctions and restricted list
27 January 2025 In the first hours of assuming the US Presidency, President Trump revoked the order published days earlier by the outgoing Biden Administration intended to remove Washington’s designation of Cuba as a state sponsor of terrorism (See Cuba Briefing 13 January 2025). The effect is to reimpose tighter controls on US exports, restrictions […]
US$6.6bn National Budget tabled in Guyana
24 January 2025 The Government of Guyana has unveiled an ambitious US$6.6bn (GY$1.382tn) National Budget for 2025, marking a historic 21% increase from the previous year. Tabled by Finance Minister Ashni Singh, the budget aims to propel economic growth, address social needs, and stimulate private sector investment under the theme, “A secure, prosperous and sustainable […]
Biden lifts terrorism designation and sanctions: Trump to mull restoration
20 January 2025 In a surprise announcement on 14 January, just days before demitting office, the White House said that President Biden was removing Cuba from the US list of state sponsors of terrorism; suspending the right of claimants to take legal action under Title III of Helms Burton against companies that traffic in expropriated […]
IMO says Panama will Maintain Canal Control
17 January 2025 The International Maritime Organization has poured cold water on US president-elect Donald Trump’s plans to take over. Marco Rubio, the potential Secretary of State, had suggested that Panama had broken treaty agreements. However, the IMO Secretary General Arsenio Domínguez stated that the route will remain in Panamanian hands. Trump has repeatedly stated […]
Tourism minister says essential Cuba recovers growth in arrivals in 2025
13 January 2025 Cuba’s Minister of Tourism, Juan Carlos García, has said that it “is essential for the recovery of the sector” that in 2025 the country has ”a decent tourism product that stimulates demand.” His comments to a meeting of the National Assembly’s Commission on Services followed his admission that the sector would close […]
DR Government set to borrow billions for development push
10 January 2025 The Dominican Republic is poised to embark on an ambitious development agenda in 2025, with the government authorised to secure over US$6.5bn in international financing. This decision, embedded in Article 71 of the 2025 National Budget, signals a significant commitment to addressing critical needs in transportation, water, sanitation, energy, and education through […]
Díaz-Canel sees some positive signs of progress
06 January 2025 Addressing the closing session of Cuba’s National Assembly, President Díaz-Canel told delegates that Government’s efforts to implement its macro-economic reform strategy will continue “with the aim of changing, in the shortest possible time, the overwhelming situation we are experiencing.” Observing that “the insufficient results achieved” in 2024 were “reason for the most […]
Bahamas government, police rocked by US drug indictment
13 Decemeber 2024 The Bahamas is grappling with a storm of allegations and political upheaval following a US indictment that accuses high-ranking Bahamian police and government officials of enabling massive cocaine shipments to the US. The indictment, unsealed by US Attorney Damian Williams and DEA Administrator Anne Milgram, charges 13 individuals, including high-ranking officials of […]
Communist Party to hold mid-December plenary to address “vital issues”
09 December 2024 The Central Committee of Cuba’s Communist Party (PCC) has said that it will convene on 12 and 13 December in plenary, to analyse “vital issues of the Cuban economy and society, in the midst of the complex scenario that the country faces.” The announcement followed a meeting of Cuba’s Council of Ministers […]
Guatemala’s Congress Passes Q148.8 billion Budget
06 December 2024 A busy session in Guatemala’s Congress saw members pass the 2025 budget of Q148.83bn (US$19.27bn), a 7% increase on the previous year’s. 148 of the 160 deputies voted in favour of the budget which saw increases to security, health and care for the elderly. However, critics pointed to poor budget execution and […]
Role of government’s new Institute of Non-State Economic Actors spelt out
02 December 2024 Officials appearing on Cuban state television have made clear that the recently established National Institute of Non-State Economic Actors (INAEE) is intended to control and direct Cuba’s embryonic private sector. Aizel Llanes Fernández, the Director of the National Institute of Economic Research, speaking on the television programme Mesa Redonda, said that the […]
Barbados agrees US$300mn Debt for Climate Swap
29 November 2024 Barbados has secured a groundbreaking US$300mn debt-for-climate swap to finance critical infrastructure upgrades while reducing the country’s public debt stock. Prime Minister Mia Mottley hailed the initiative as a global first, describing it as a transformative model for tackling climate resilience while avoiding an increase in national debt. “This is the first […]
Minister says essential for economy tourism has a good high season
25 November 2024 Cuba’s Tourism Minister, Juan Carlos García, has said that “it is essential to have a good high season” as “the country and the Cuban economy need it.” His comments came as a leading Canadian tour operator announced that it is reducing the number of hotels included in its offering to clients visiting […]
Bukele and Chaves Propose “League of Nations”
22 November 2024 The Presidents of Costa Rica and El Salvador proposed a “League of Nations” for the world’s smaller countries to seek common goals in economy and security. Something between a BRICS-lite and the mediaeval Hanseatic League, it was proposed following a “spark” between the two leaders. President Rodrigo Chaves said that the objective […]
Economy Minister says Cuba unlikely to experience GDP growth this year
18 November 2024 A Cuban minister has said that Cuba will not experience any economic growth this year owing to the impact of hurricanes Oscar and Rafael and recent seismic activity in eastern Cuba. The three events caused damage over a period of twenty days to housing, electrical distribution, agriculture, water supply, hospitals, schools, and […]
Highlights from our Recent UK Business Mission to Guyana 2024
18 November 2024 The Caribbean Council is pleased to present a few highlights from our recent UK Business Mission to Guyana 2024. Our fourth trade mission to the beautiful country of Guyana in as many years, with our largest group yet of companies, across a wide range of sectors including shipping and logistics, high-tech manufacturing, […]
ANSA McAL seal US$327mn Bleachtech US acquisition
15 November 2024 Regional conglomerate ANSA McAL has completed its largest acquisition in its 143-year history, purchasing US-based chlor-alkali producer Bleachtech LLC for US$327mn. The acquisition, finalised through ANSA’s subsidiary ANSA Chemicals US LLC, marks a significant step in the group’s ambition to expand its market presence and achieve its “2X” growth strategy of doubling […]
Hurricane Rafael causes extensive damage to Cuba’s western provinces
11 November 2024 A second hurricane in three weeks to hit Cuba has caused what government described as “major damage” to the three western provinces of Artemisa, Mayabeque and Havana. Tens of thousands of Cubans had earlier been evacuated along with visitors from the most at-risk areas, and education and transport was suspended. Hurricane Rafael […]
Record Revenues for Panama Canal
08 November 2024 The Panama canal presented financial results which included US$4.99bn in total revenue and a 5% decrease in operational costs. Net income increased by US$300mn compared to the previous fiscal year. The interoceanic route grew by 1% with an estimated increase of US$1.8bn over five years. A severe drought caused a slowdown on […]
Minister’s comments suggest bleak outlook for Cuban sugar production
04 November 2024 Cuba’s first Vice President, Salvador Valdés Mesa, has said that it is essential that all those involved in the sugar sector do everything possible to “move forward the preparations for the next harvest, with responsibility and rationality.” Addressing the closing session of the Third Conference of the National Union of Sugar Workers, […]
ConocoPhillips secures ruling on Trinidad’s Dragon gas payments to Venezuela
01 November 2024 A recent ruling by Trinidad and Tobago’s Supreme Court has granted US energy giant ConocoPhillips the authority to seize payments directed to Venezuela’s state-owned oil company, PDVSA from the cross-border Dragon Gas project. The court’s decision to uphold earlier rulings marks a critical milestone in ConocoPhillips’ long-standing dispute with Venezuela over expropriated […]
Cuba assesses damage from Hurricane Oscar as power returns
28 October 2024 Power has returned to most of Cuba following four days during which attempts to restart the island’s national electrical system failed. The nationwide collapse of the grid coincided with Hurricane Oscar hitting the eastern Province of Guantanamo late on Sunday 20 October causing extensive destruction. Addressing Cuba’s National Defence Council on 22 […]