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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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) […]
President Díaz-Canel suggests dialogue with US may be possible
Photo by Jose Fontano 11th April 2022 President Díaz-Canel has suggested that Cuba should not be afraid of entering into a dialogue with the US, citing comments made in 2009 by the country’s former President, Fidel Castro. In a Tweet with no clear context or explanation other than the coincidence of a date thirteen years ago when Fidel […]
Royalty, republic, and reparations
1st April 2022 Photo by Annie Spratt David Jessop writes that Prince William’s sincere remarks made during his recent visit to the region highlighted the fact that many in the Caribbean want a different relationship with Britain, and redress for past wrongs. Nothing better illustrates the divide that exists between today’s Caribbean and its past than […]
Cuba aiming for four per cent GDP growth in 2022
4th April 2022 Photo by micheile .com The Cuban government has said that despite the many difficulties it faces, it believes it will be able to achieve its target of a 4% increase in GDP this year. Noting this, the Minister of Economy and Planning, Deputy Prime Minister Alejandro Gil, observed that in the first three […]
Western countries moving against Caribbean CBI Schemes
1st April 2022 Photo by ConvertKit While St Kitts and Nevis haggle over the sharing of current citizenship by investment (CBI) revenue, Western countries are seemingly moving against the region’s programmes. Last week, as St Kitts Prime Minister Timothy Harris and Nevis Premier Mark Brantley exchanged words over what percentage of CBI revenue should be allocated to […]
European and Canadian tourism ‘vital’ after loss of Russian market
Photo by Philip Myrtorp 28th March 2022 Cuba’s Prime Minister, Manuel Marrero, has said that in the absence of Russian visitors, it will be vital to strengthen the presence of tourists in Cuba from traditional source countries such as Canada, the UK, France, and Germany. He also noted that it will be necessary “to bet on […]
Central America could cave $20bn & cut emissions 70% via “faster energy transition”
Photo by Nicholas Doherty 25th March 2022 According to a study released this week by the International Renewable Energy Agency, Central American countries could cut systemic costs by $20bn between 2018 and 2050 “by pursuing a more ambitious energy transition.” The study estimates Central America’s collective “renewable energy potential” to be 180GW, which is ten times […]
All unprofitable state companies to undergo special audit
Photo by Remy Gieling 21st March 2022 Cuba’s leadership has launched a process that will analyse on a company-by-company basis why state enterprises projecting losses for this year have done so, and see measures introduced to reverse the situation. Announcing this to a meeting involving company representatives, President Díaz Canel said that it would be necessary […]
Caribbean leaders lament economic impact of Russia-Ukraine conflict
Photo by Ihor OINUA 18th March 2022 With the conflict now into its third week, Caribbean leaders are bracing for the economic impact following Russia’s invasion of Ukraine last month. Even as most condemned Russia’s role in the conflict, regional leaders are faced with the challenge of mitigating the fallout of surging fuel and commodity prices […]
Concern expressed about economic impact of conflict in Ukraine
Photo by Tina Hartung 14th March 2022 Cuban Deputy Prime Minister, Alejandro Gil, the Head of Economy and Planning, has said that he expects the conflict between Russia and Ukraine to have an unfavourable economic impact, warning of increases in the price of food and essential products the country imports. Speaking following a high-level working meeting […]
SICA & CARICOM release declaration to “strengthen” relations following summit
Photo by Meritt Thomas 11th March 2022 On 3 March, the leaders of CARICOM and SICA convened in Belize for the first summit between the two regional blocs in eleven years. “Clearly much has happened in the world since 2011. The global and regional landscape has changed significantly. Our partnership, therefore, must be strategic,” John Briceno, […]
US officials say Russia sanctions will hit Cuba ‘in a matter of days’
Photo by Jessica Knowlden 7th March 2022 Cuba is likely to experience a significant economic setback because of the wide-ranging sanctions imposed by the US, EU, and others on Russia, following the invasion of Ukraine. US officials have said that they expect the effect to be felt within a matter of days. Speaking to Voice of […]
Jamaican students stranded in Ukraine now home
4th March 2022 Photo by L.Filipe C.Sousa Twenty Jamaican students finally arrived home in Jamaica yesterday after a tortuous journey out of Kyiv. Jamaica was the only country in the Caribbean with a sizeable number of known nationals in Ukraine at the time of the invasion since many students pursue medical studies there. In the […]
Cuba Issues carefully worded statements on events in Ukraine
Photo by Yehor Milohrodskyi 28th February 2022 Cuba has issued a declaration calling for the peaceful resolution of the conflict in Ukraine and a diplomatic solution “which guarantees the security and sovereignty of all”. In a 26 February statement, the Ministry of Foreign Affairs (Minrex) said that Cuba as ”a country that defends International Law […]
Central American leaders respond to Russia invasion of Ukraine with differing views
Photo by Karollyne Hubert 25th February 2022 Although the situation unfolding now in Ukraine may appear far removed from Central America, rising prices of commodities ranging from fuel to food, volatile foreign exchange rates, and looming travel restrictions affecting tourism are already being felt across the region. Accordingly, the leaders of Central America have been […]
Sherritt confirms it will expand its mining joint venture in Cuba
Photo by Shane McLendon 21st February 2022 The Canadian nickel and cobalt miner, Sherritt International, has said that despite the impact of the global pandemic, continuing US sanctions, and rising input costs, it has been able to meet it 2021 production and cost targets and will as planned proceed with the expansion of its operations […]
Minister speaks frankly about economic challenges facing Cuba
Photo by Markus Spiske 14th February 2022 In a frank address about the economic challenges facing the Cuban government, the Minister of Economy and Planning, Deputy Prime Minister Alejandro Gil, has asked Cubans for their trust. Speaking to viewers and listeners to the flagship radio and television programme Mesa Redonda, Gil spoke in detail about […]
Millicom investing $3bn to expand mobile & broadband offerings in Central America
Photo by Manuel 11th February 2022 Millicom, a publicly traded multinational telecommunications conglomerate, has announced that it will invest $3bn across Central America over the next three years. It is already the “leading mobile company” in the region, having made $5bn worth of acquisitions over the last three years. As reported in our 19 November issue, […]
Barbados re-elects Mia Mottley in historic landslide victory
Photo by Arnaud Jaegers 4th February 2022 Mia Mottley has been re-elected for a second term as Prime Minister after leading the Barbados Labour Party (BLP) to a historic landslide victory in the 19 January election. “The people of this nation have spoken with one voice, decisively, unanimously and clearly,” said Mottley in her election […]
President identifies priority for government in 2022
Photo by expansion.mx 7th February 2022 Speaking at the first meeting of the Council of Ministers to be held this year, President Díaz-Canel has said that Government’s priority tasks in 2022 will be improving the supply of food and goods, containing inflation, designing a comprehensive policy towards the non-state sector, and continuing to deepen remote […]
Xiomara Castro inaugurated as first female President of Honduras
Photo by eldiario.es 28th January 2022 Yesterday, Xiomara Castro was sworn in as the first female President of Honduras at a “packed” inauguration ceremony at the National Stadium in the capital of Tegucigalpa. Exactly two months prior, Castro — the leader of the left-wing Libre Party and wife of former President Manuel Zelaya (2006-2009) — […]
Minister says economic decentralisation essential for recovery
Photo by Williams Cruz Perdomo The Minister of Finance and Prices, Meisi Bolaños, has said that to reduce Cuba’s projected 2022 fiscal deficit of CUP 75.8bn (US$3.17bn) the country needs to boost income by increasing productive activity in the municipalities and the participation of all economic actors. Bolaños told viewers of the television programme Mesa […]
Jamaican Government US$186.69mn budget revision
The Government of Jamaica has tabled a sizable supplemental budget for the second time in the fiscal year which ends in March 2022. On 11 January, Finance Minister Nigel Clarke introduced an additional spending bill totalling $25.8bn (US$186.69mn) which takes total expenditure for the fiscal year to $893.05bn (US$5.76bn), up from the $867.3bn (US$5.59bn) previously […]
Cuba hoping to receive 6mn visitors by 2030
Photo by Florian Wehde 24th January 2022 Cuba’s Minister of Tourism, Juan Carlos García, has said that Cuba hopes to receive annually over 6mn visitors by 2030. Speaking to Spanish businesspeople on 19 January prior to Fitur 2022, Madrid’s international tourism fair, García said that by 2030 the country expects to have a hotel capacity […]
Sugar sector struggling to address much needed change
Photo by Victoria Priessnitz 17th January 2022 Cuba’s Vice President Salvador Valdés Mesa has expressed concern about the progress of the present sugar harvest. Speaking in Sancti Spiritus on12 January as the milling of cane got underway across the country, he observed on Twitter ‘It has not started well’, noting the need to rigorously evaluate […]
Paramount+ wins 3-year deal to broadcast Premier League games in Central America
Photo by Nathan Rogers 14th January 2022 Today, it was announced that Paramount+, the streaming platform of the US mass media conglomerate, Viacom CBS, had won the rights to broadcast Premier League games and all related coverage in several Latin American countries for three years, beginning this season. The deal encompasses Mexico, Costa Rica, El Salvador, […]
Ministers outline economic plan and priority objectives for 2022
Photo by Francesco Gallarotti 10th January 2022 The Minister of Economy and Planning, Alejandro Gil, has told members of the country’s National Assembly that Cuba’s GDP is expected to grow by 2% in 2022. Addressing the assembly’s Economic Commission before Christmas, Gil said that after the 13% fall in GDP experienced over the last two years, […]
The promised land – a receding dream
31st December Photo by Tim Foster Caribbean leaders may soon find a new multidimensional east-west cold war added to the already complex economic, social, and political challenges they must address. David Jessop suggests that for economic reasons remaining non-aligned in the twenty first century may be hard to achieve. Imagining a better future for the Caribbean is not hard, but […]
Potentially exploitable new gold deposit identified in Camagüey
Photo by Rene Böhmer 13th December 2021 Cuba is to begin a technical and economic feasibility study of a gold deposit estimated at about eight tons in ten veins in Loma Jacinto in Camagüey province. According to experts at Cuba’s Ministry of Energy and Mines, the concentration, the second largest in the country, could yield hundreds of […]
Political unrest continues in Guadeloupe and Martinique
Photo: Via france24.com 10th December 2022 Protests are into their third week in the French overseas territories of Guadeloupe and Martinique. Demonstrators had initially taken to the streets to protest impending mandatory vaccination rules for health workers and other COVID-19 restrictions, but the unrest has evolved into action against a broader set of socioeconomic issues. […]
Biotech and pharma ‘underpin’ China-Cuba economic relations
Photo by Maximalfocus 6th December 2021 Cuba and China have confirmed that cooperation in the field of biotechnology and pharmaceuticals now plays a central role in the development of economic relations between the two countries. State media reports of the eleventh meeting of the Cuba-China Biotechnology Working Group quoted Cuban Deputy Prime Minister, Jorge Luis Perdomo, […]
Drowning in promises
Photo by USGS It is hard to avoid the conclusion that the support promised by global leaders in relation to climate change will be delivered at a pace fast enough to help the Caribbean, if at all. David Jessop suggests that the region may need to consider other options. In a powerful speech at last month’s COP26 climate […]
Castro elected first female President of Honduras, ending 12 years of Nacional rule
3rd December 2021 Xiomara Castro, the leader of the left-wing Libre Party and wife of former President Manuel Zelaya (2006-2009), is set to become the first female President of Honduras following a general election on 28 November that external observers described as “largely peaceful” despite the violence that preceded it (as reported in our previous […]
Tourism minister prioritises health and safety as Cuba reopens
Photo by Yifan Wu 29th November 2021 Cuba’s Minister of Tourism, Juan Carlos García, has said that the country is committed to developing responsible tourism, in which the health and safety of all visitors and Cubans is prioritised. Speaking to locally based tour operators about the reopening of the country’s airports, ports, and hotels for tourism, […]
Caribbean reopens to Cruiseliners
Photo by Alonso Reyes 26th November 2021 As the global economic recovery accelerates, Caribbean nations are positioning themselves to benefit from the return of cruise tourism to their shores. In recent weeks, several countries have welcomed the return of cruise ships to their ports after the industry all but collapsed under the weight of the COVID-19 […]
