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  • Photo of The Bahamas turns to the private sector to drive investment: CARICOM BUSINESS

    The Bahamas turns to the private sector to drive investment: CARICOM BUSINESS

    The Bahamas will shortly select a private group to establish a new statutory body, Invest Bahamas – an independent statutory body that would facilitate the investment process from conception to implementation. The Finance Ministry is reviewing at least 7 bids received in response to a recently closed Request for Proposals (RFP). According to the RFP, Invest Bahamas would be, “a…

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  • Photo of “No new taxes” in St Lucia’s 2021/22 $1.6B fiscal budget: CARICOM BUSINESS

    “No new taxes” in St Lucia’s 2021/22 $1.6B fiscal budget: CARICOM BUSINESS

    Saint Lucian Prime Minister Allen Chastanet has presented a EC$1.12 B revenue estimate for fiscal year 2021/22. The fiscal package, which contains “no new taxes,” represents a 21.3% increase over the revised estimate for the last fiscal year. However this is lower than pre-pandemic years of 2018-19 and 2019-20 in which revenue was recorded at EC$1.20 billion and EC$1.19 billion…

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  • Photo of Barbados to relax quarantine requirements effective May 8: CARICOM BUSINESS

    Barbados to relax quarantine requirements effective May 8: CARICOM BUSINESS

    Effective May 8, vaccinated persons entering Barbados will only be made to quarantine pending the results of one locally administered COVID-19 PCR test. This could result in a quarantine period as little as 24 hours. According to Prime Minister Mia Mottley, a vaccinated person is defined as someone who in a two-dose regime had received both doses plus 14 days,…

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  • Photo of Statement  on Volcano Activity in St Vincent and the Grenadines by Chair of the Caribbean Community (CARICOM)  Dr the Honourable Keith Rowley Prime Minister of Trinidad and Tobago

    Statement on Volcano Activity in St Vincent and the Grenadines by Chair of the Caribbean Community (CARICOM) Dr the Honourable Keith Rowley Prime Minister of Trinidad and Tobago

    The Caribbean Community (CARICOM) has mobilised to support St Vincent and the Grenadines as it faces the possibility of an imminent eruption of La Soufriere Volcano. Following an evacuation order of the immediate area around the volcano by Prime Minister Dr the Honourable Ralph Gonsalves, CARICOM Member States have offered support to house evacuees from the affected area. The scientific…

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  • Photo of Guyana set to grow by 20.9% in 2021: CARICOM BUSINESS

    Guyana set to grow by 20.9% in 2021: CARICOM BUSINESS

    Guyana’s economy will remain resilient against the effects of COVID-19, maintaining its growth trajectory as the petroleum sector ‘picks up steam’, the World Bank has said. Guyana grew at an extraordinary rate of 43.5% in 2020, having completed a year of oil production. The positive spill-over effects have been dampened by a deep contraction in the non-oil economy, triggered by…

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  • Photo of Bahamas seeking to increase cruise passenger expenditure: CARICOM BUSINESS

    Bahamas seeking to increase cruise passenger expenditure: CARICOM BUSINESS

    The Bahamas is targeting a $400m increase in annual passenger spending after data revealed more than 40% spent less than $50 in Nassau pre-COVID, thereby seeking to increase expenditure to $100 per head. According to the Ministry of Tourism in The Bahamas, data for 2019, the last full year prior to the COVID-19 pandemic, revealed that 43% of cruise passengers…

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  • Photo of CARICAD: Horizon Newsletter Vol 4 Issue 1

    CARICAD: Horizon Newsletter Vol 4 Issue 1

    Time to Adapt From the Executive Director’s Desk “We are living in unprecedented times. We are traveling through unchartered waters. The times in which we are living are uncertain, complex, insecure and anxiety-inducing. The COVID-19 crisis has greatly intensified the uncertainty, complexity and anxiety. The crisis has now gone past a year in duration and there is as yet no…

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  • Photo of Fitch Affirms Jamaica at ‘B+’; Outlook Stable: CARICOM BUSINESS

    Fitch Affirms Jamaica at ‘B+’; Outlook Stable: CARICOM BUSINESS

    Fitch Ratings Agency, has affirmed Jamaica’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B+’ with the outlook remaining stable. The Stable Outlook is supported by the expectation that the public debt level will return to a firm downward path post-pandemic, which is underpinned by political consensus to maintain a high primary surplus, the resilience of external finances, and stronger economic…

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  • Photo of CDB Projects Return to Economic Growth in 2021: CARICOM BUSINESS

    CDB Projects Return to Economic Growth in 2021: CARICOM BUSINESS

    The Caribbean Development Bank (CDB) is reporting that the economies of its 19 Borrowing Member Countries (BMCs) contracted by 12.8% on average in 2020 but is projecting an average GDP growth of 3.8% in 2021. According to the Bank in 2020, the majority of BMCs registered double-digit declines in GDP. Countries with significant tourism industries, such as The Bahamas, Barbados,…

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  • Photo of 80% of Caribbean businesses look to brand modernisation: CARICOM BUSINESS

    80% of Caribbean businesses look to brand modernisation: CARICOM BUSINESS

    Over a quarter of businesses in the Caribbean have not been able to meet their digitisation goals. This was revealed by PricewaterhouseCoopers in its Caribbean Digital Readiness Survey 2021. In the survey, 42% of respondents believed they were on target to meet their goals while 28% said they were ahead. Only 15% believe that their digital fitness is on a…

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