News
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T&T: Parliament passes economic zones law: CARICOM BUSINESS
The newly approved T&T Special Economic Zones Bill, 2021 will result in the creation of a SEZ Authority. Entitled “An Act to provide for the designation, development, operation and management of Special Economic Zones,” the new law will repeal the existing Free Zones Act. According to Trade Minister Paula Gopee-Scoon, the new SEZ regime “will ensure that not only are…
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Another 30-nil
Mia Mottley led her Barbados Labour Party (BLP) to a second consecutive sweep of all 30 parliamentary seats in General Elections held Wednesday 19 January 2022. Seven political parties, including the main opposition Democratic Labour Party (DLP) under new leader, Attorney, Verla De Peiza, contested the elections, called some 18 months ahead of the constitutional deadline. There were also nine…
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Barbadians vote today in General Elections
Barbadians are voting in General Elections today Wednesday 19 January 2022. Seven Political Parties and nine Independent Candidates are contesting the 30 seats at stake in the Barbados Parliament. The Electoral and Boundaries Commission say there are 266,330 registered voters. Prime Minister Mia Mottley, who called the snap elections more than a year before the constitutional deadline, is again leading…
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Grenada: Public Debt declines to 68.9% in 2021: CARICOM BUSINESS
Grenada’s recovery from the pandemic is being led by construction & agriculture, resulting in an expected expansion of real output of approximately 5% in 2022. According to the IMF, the current account deficit has widened, as weak tourism receipts, higher fuel prices and import demand from construction offset the recovery in agricultural exports. Public debt is estimated to have declined…
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Survey on concerns about financial services launched
The CARICOM Secretariat is developing a common financial consumer protection (FCP) regime to regulate the conduct of financial service providers (FSPs) and to protect clients of financial institutions in CARICOM Member States. This project is part of the Strengthening Framework for CARICOM Integration and Cooperation Processes and is funded by the 11th European Development Fund. Click on the link to…
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CARICOM Secretariat helping to lead Region’s renewable energy transformation
The CARICOM Secretariat today takes charge of a Solar Photovoltaic Power Generation Plant, as it sets an example of how the Region can utilise renewable energy resources to move towards greater energy efficiency and resilience. The 400-kilowaatt solar generation project, with 1,500 solar panels and servers and batteries, was undertaken through a US$17.8M grant agreement between the Governments of Guyana…
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Jamaican economy confirmed to grow by 5.8% in 3rd quarter: CARICOM BUSINESS
Total value added for the Jamaican economy increased by 5.8% during the third quarter of 2021 relative to the third quarter of 2020. According to the Statistical Institute of Jamaica, this was attributable to growth in both the Services and Goods Producing Industries of 7.1 and 2.4% respectively. The growth in the Services Industries was due to improved performance in…
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CARICOM congratulates Haiti on Independence Anniversary
The Caribbean Community (CARICOM) has congratulated the Government and People of Haiti on the country’s Two Hundred and Eighteenth Anniversary of Independence which it celebrates on 1 January 2022. “As the Government and People of Haiti enter a new year of independence, CARICOM extends its best wishes for goodwill and unity to prevail in the current multifaceted challenges,” CARICOM Secretary-General…
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New Year Statement by the Chairman of the Caribbean Community (CARICOM) Honourable JOHN BRICEÑO Prime Minister of Belize
A Happy New Year to all, as we usher in 2022 with hope and optimism. The past two years have seen all plans affected by the COVID-19 virus which has caused profound social and economic turmoil. The prospects for our recovery hinge on the urgent acceleration of vaccinations, which remains alarmingly low in our Community. Further delay in equitable access…
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Bahamas largely compliant with AML/CFT requirements: CARICOM BUSINESS
The Bahamas is now compliant with 38 out of 40 Financial Action Task Force (FATF) recommendations to strengthen its AML/CFT framework, with the Caribbean arm of the regulatory body, noting that this jurisdiction is now “compliant” with 18 recommendations and “largely compliant” on 20 of them. The recently released 4th Enhanced Follow Up Report and Technical Compliance Re-Rating, noted the…
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