Carib Scope

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  • Economy loses steam as global shocks slow growth outlook, Central Bank reports

    Economy loses steam as global shocks slow growth outlook, Central Bank reports

    Against a backdrop of mounting global economic instability, Barbados has recorded a notable slowdown in economic expansion during the first half of 2026, according to an official announcement from the Central Bank of Barbados released Thursday. While domestic economic fundamentals have remained surprisingly resilient, simmering geopolitical tensions, soaring global inflation, and rising interest rates have cast a long shadow over the island nation’s medium-term growth outlook.

    Central Bank Governor Dr. Kevin Greenidge outlined the latest GDP figures during a press briefing for the bank’s quarterly economic review, noting that year-on-year real GDP growth hit 1.4% in the first six months of 2026, down from the 2% expansion recorded in the same period a year earlier. Compared to the first half of 2025, real growth dipped by 0.6% on an adjusted basis. At the close of the first quarter of 2026, growth stood at 1.7%, and the bank had previously projected annual growth between 2% and 3% for the remainder of the year and over the medium term. That outlook has shifted considerably since that initial projection, Greenidge explained, as the global operating environment has grown “steadily more uncertain.”

    Two major geopolitical flashpoints are the primary drivers of this heightened uncertainty, Greenidge confirmed: the ongoing conflict in the Middle East, which has roiled global oil markets and tightened global supply chains, and the protracted war in Ukraine, which has added additional braking pressure to global and local growth alike. These disruptions have fueled persistent global inflation, which has eroded household purchasing power worldwide and altered consumer spending patterns in Barbados’ key trading partner economies. The spillover effects have also reached global financial markets: inflation expectations have climbed over the past six months, pulling benchmark interest rates higher across major economies, including the United States.

    As borrowing costs rise globally, government budgets are coming under increasing strain, Greenidge noted. Leading economic analysts expect interest rates to continue climbing over the medium term, a trend that will constrain both public and private investment – and Barbados is not insulated from these global pressures, the governor emphasized.

    Despite these mounting external headwinds, Greenidge moved to reassure domestic stakeholders that the Barbadian economy has held up far better than many peer economies, absorbing successive global shocks while maintaining positive growth and robust reserve levels. This resilience, he argued, is the product of targeted policy buffers built up over recent years, including deliberate government actions to shield households and businesses from the full impact of sky-high global oil prices, which have remained elevated since the latest wave of geopolitical disruption.

    Looking ahead, Greenidge outlined the core policy priorities to preserve stability and strengthen long-term growth: efficient public expenditure management, continued improvements to tax administration, and targeted fiscal savings to rebuild the nation’s “rainy day” contingency funds, which will enable a rapid policy response if global conditions deteriorate further. The government must also deliver critical planned investments in public infrastructure, digital connectivity, healthcare, and education, all while keeping public debt on a firm downward trajectory. A declining debt-to-GDP ratio remains the key benchmark for long-term fiscal sustainability, Greenidge stressed, and the government remains committed to continuing this downward trend.

    Breaking down domestic performance for the first half of 2026, the non-traded domestic sector led overall growth, expanding by 1.5% year-on-year. Business services and other service industries drove this expansion, with wholesale and retail trade also contributing positively, and the construction sector recording modest growth. The traded sector also notched a 0.4% expansion.

    Tourism, which accounts for roughly half of Barbados’ traded economic output, remained near its 2025 level, with a small uptick in long-stay visitor arrivals offset by shorter average trip lengths that left total visitor nights largely unchanged. Agriculture contributed to overall growth, while manufacturing output held steady compared to a year earlier.

    Labor market indicators remained broadly positive through the first half of the year, Greenidge reported, though the most recent data only extends through the end of March. Unemployment stood at 6.1% at that point, a 0.2 percentage point drop from 2025 levels, and new unemployment claims fell 3.7% between January and June. The overall labor force shrank by 2,700 people over the period, driven largely by rising retirements, meaning the lower unemployment rate reflects both fewer unemployed workers and a decline in labor force participation.

    Inflation has climbed from its recent historic lows but remains contained due to proactive government policy. The 12-month moving average inflation rate hit 1.4%, while point-to-point inflation reached 2% in May, driven by higher prices for food, education, housing, utilities, and transport. Government policy interventions have successfully softened the pass-through of global cost increases to domestic consumers.

    Barbados’ external financial buffers remain strong, further reinforcing the nation’s ability to withstand external shocks. International reserves rose by $91.8 million between the end of December 2025 and June 2026, reaching a total of $3 billion, enough to cover 25.9 weeks of imports – well above the internationally accepted adequacy threshold. The current account deficit narrowed to $189.4 million over the period, as stronger net current transfers and a smaller income deficit more than offset a widening merchandise trade deficit and a modestly smaller services surplus.

    On the fiscal front, the government comfortably exceeded its primary balance target under the 2026 BERT economic program. It maintained substantial primary surpluses even while increasing spending on public goods, services, institutional support, and capital projects. While both total and primary surpluses narrowed slightly year-on-year, the primary surplus remained well above the program’s required floor. Sustained primary surpluses and ongoing economic growth have continued to pull down public debt: gross public debt stood at $15.1 billion at the end of June, $250.8 million below the ceiling set under the BERT 2026 program. The debt-to-GDP ratio fell 1.1 percentage points year-on-year to 93.7%, down from 94.8% in 2025.

  • Central Bank: Borrowing window open, use it now

    Central Bank: Borrowing window open, use it now

    As global borrowing costs continue a steady upward climb and market volatility intensifies, the Central Bank of Barbados is pushing the island nation’s government to act quickly to secure a large pool of low-cost financing from international capital markets before conditions tighten further. The call to action came Thursday from Central Bank Governor Dr. Kevin Greenidge during a press briefing that reviewed Barbados’ first-half economic performance for the current year.

    Dr. Greenidge argued that delaying borrowing until project needs are urgent is a financially imprudent strategy, given the clear trend of rising interest rates that is expected to continue through the medium term. “When international capital markets offer more favorable terms than the direction rates are heading, we should be ready to seize that window of opportunity rather than wait,” he told reporters. “It makes far more sense to access financing earlier than to hold off until you are forced to borrow at much higher costs.”

    While the governor declined to name specific infrastructure projects or social programs that the funding should target, he noted that it is standard for governments to plan ahead for ongoing priorities including public spending and social development. He explained that the current global economic outlook, marked by persistent price inflation, rising interest rates, and growing market volatility, means waiting to borrow until each project gets finalized is no longer an optimal approach.

    Instead, Dr. Greenidge urged the administration of Prime Minister Mia Mottley to secure what he called a “large envelope” of pre-approved financing while market conditions remain relatively stable and interest rates are still more favorable than they are projected to be. Under his proposed strategy, the government would secure the full block of financing at locked-in low rates upfront, then draw down from the pool gradually as individual projects move forward.

    If planned and executed carefully, this approach would not derail the country’s target of reducing its overall debt trajectory, the governor emphasized. Bringing financing forward to lock in better rates would simply allow the government to continue its planned debt reduction path while accessing capital at a far lower long-term cost.

    “Right now, every cost is going up, and the cost of borrowing is no exception,” Dr. Greenidge said. “We don’t have to decide every project upfront. What matters is securing the envelope of financing at favorable terms now, then working through analysis to identify which projects make the most sense to fund from that pool down the line. Waiting just means we will end up paying more when we do need to borrow.”

    He added that Barbados’ existing standby loan agreement with the International Monetary Fund (IMF) would be integrated into this financing strategy as the government develops its plan.

  • Here’s What You Should Do Before Turning 55 and Retiring

    Here’s What You Should Do Before Turning 55 and Retiring

    For thousands of public sector workers across Belize counting down to their retirement at age 55, the dream of a smooth transition to pension benefits is often overshadowed by bureaucratic gridlock that leaves many waiting months – or even forever – for their earned payments. Now, widespread frustration over persistent systemic delays has pushed the issue into the public spotlight, with critics calling for urgent overhauls of the country’s public service pension processing framework.

    On Wednesday, veteran attorney Richard “Dickie” Bradley publicly called out the broken current system, questioning the ethics of a process that leaves beneficiaries without critical income. “People die and never see their pension. What kind of country do we run?” Bradley asked. His blunt critique resonated deeply with hundreds of Belizean public servants and their families who have navigated the broken system firsthand, with dozens reaching out to local outlet News 5 to share their own horror stories of unfulfilled claims.

    One woman shared the devastating experience of her family, whose intergenerational financial security was upended by processing delays. “My dad died and got nothing because of the slow turnaround. He got a stroke and never recovered. My mom applied before he died because he was gravely ill from the stroke, but even now, my mom still can’t get the pension,” she explained. “This really needs to change.”

    Other callers and respondents criticized the confusing, contradictory rules that govern the application process. Many noted that while officials require public servants to submit all required documentation up to a full year before their 55th birthday, applicants are often forced to make repeated trips to administrative offices to correct gaps, and rarely receive responses to emailed inquiries for updates on their claims.

    Amid the growing public anger, one seasoned public service insider says that many of the most common delays are avoidable with proactive preparation from workers themselves. Carol Gentle, a retired Administrative Officer who spent nearly 40 years working in Belize’s public sector, explained that workers have the legal right to access and review their official personnel files at any time during their employment.

    Gentle recommends that public officers begin auditing their own retirement paperwork between the ages of 50 and 53, years before their planned retirement date. “I recommend to public officers, when you reach the age of, say, between fifty to fifty-three, you try and find your administrative officer and ask them to set a date for you to go through your file,” she said.

    A complete retirement file requires a range of verified documentation: approved leave records, updated birth certificates and marital status paperwork, and full, signed performance appraisal histories. While administrative officers are required to conduct annual file audits to flag missing materials, Gentle emphasized that workers bear personal responsibility for verifying their own records are complete long before they submit their retirement application for processing. Early identification of gaps gives workers time to source and replace missing documents, avoiding last-minute delays that can hold up pension payments for months.

    To hear more personal accounts and details of required documentation for public service retirement, tune in to News Five’s full broadcast tonight at 6:00 local time.

  • Burger King Clapham Bulls complete historic three-peat

    Burger King Clapham Bulls complete historic three-peat

    In a night of high drama at the Barbados Community College Gymnasium, Burger King Clapham Bulls pulled off one of the most memorable comebacks in Barbados amateur basketball history, rallying from a 20-point first-half deficit to secure a 102-98 victory over C.A.M Smart Assurance City United Celtics in Wednesday’s decisive Game 5. The win gives the Bulls a 3-2 series victory in the best-of-five finals, and wraps up a rare three consecutive Premier League titles for the franchise — a feat that hasn’t been achieved in the league in roughly 20 years.

    The Celtics, reigning holders of the President’s Cup, dominated the opening frames of the matchup. They jumped out to an early 28-16 lead by the end of the first quarter, and extended their advantage to 13 points at halftime, sitting comfortably at 53-40. At one point in the second quarter, the Bulls trailed by a full 20 points, leaving the championship on the brink of a Celtics upset.

    But the Bulls found their rhythm in the third quarter, tightening their defensive pressure and chipping away at the deficit. By the end of the third period, they had cut the Celtics’ lead to just six points, with the scoreboard reading 74-68. What followed was a frenetic back-and-forth final quarter, capped by a game-changing three-pointer from guard Rasheed Maynard in the final minutes that locked in the comeback victory for the Bulls.

    Offensively, the Bulls were led by a standout performance from Kyrone Alexander, who put up a game-high 34 points and pulled down eight rebounds. Akeem Marsh added a double-double of 18 points and 10 rebounds, while Maynard and Rahiim Gibbons contributed 15 points apiece to the winning effort. For the Celtics, the game was nearly carried by Kiserian Adams and Deroni Hurley, who both dropped 24 points, with Theo Greendidge adding 22 points of his own in a losing effort.

    Following the historic win, an elated head coach Kelan Phillips credited his team’s mental toughness and unselfish play for the comeback. Phillips noted that slow starts had become a pattern for his squad throughout the finals series, but the team never lost their composure when falling behind early.

    “We fell behind early, then in the middle of the second quarter we were down 20 at one point, but then we cut into the lead and our defence got a little better,” Phillips explained post-game. “During the third quarter we really started to get a little rhythm, with our defence improving even more, and then in the fourth quarter we took the lead and it was back and forth, before we just executed down the stretch.”

    Phillips highlighted two key adjustments his team made to turn the game around: cutting down on unforced turnovers and improving clock management down the stretch. He also praised Maynard, who struggled through a quiet first half, for responding to halftime encouragement to hit the game-deciding shot.

    “Rasheed had a bit of a rough first half and I was just telling him just stay confident — you’re not going to win this game if you don’t stay confident and if you don’t execute in the second half,” Phillips said. “Thankfully that’s what he did. He had a big shot coming out late and basically put the game on ice.”

    When asked about the historic three-peat — a milestone not reached in the Barbados Amateur Basketball Association Premier League for roughly 20 years — Phillips pointed to team culture and collective sacrifice as the core of the franchise’s three-year run of success. The team navigated roster changes between seasons, losing several key players and integrating both new recruits and returning veterans from their first championship run, but never fractured under the change.

    “Everybody’s willing to buy in and we have a bunch of national players and players who were called to national trials. Despite this, everybody was willing to sacrifice some of their stats, some of their minutes or whatever to get the job done,” Phillips said. “Coming towards the end, there were no egos to get hurt, everybody on the team was still rallying.”

    In a show of good sportsmanship, Phillips also praised the Celtics, who have faced the Bulls in three straight finals, as worthy competitors who pushed his squad to their limit throughout the series and the entire season. “Kudos to them, it did not end the way that they would have wanted, but it was still a very good season overall for them,” he noted. “This is the third straight year in a row that we faced them in the final, so they are very good rivals and hats off to them for a good season.”

  • LIVE: Our Lady of Fair Haven Emancipation Celebration History Night

    LIVE: Our Lady of Fair Haven Emancipation Celebration History Night

    A community-focused educational event is inviting members of the public to gather for a thought-provoking evening centered on unpacking the complex history of Emancipation and examining its ongoing social impacts on contemporary communities. Scheduled to be led by experienced facilitator and presenter Ms. Whitney White, the gathering will combine guided reflection with open, inclusive discussion to help attendees connect the historic milestones of emancipation to current social realities. Organizers have framed the event as a rare opportunity for meaningful dialogue, encouraging participants from all backgrounds to engage with the legacy of emancipation and explore how its effects continue to shape lived experiences for marginalized communities today. The interactive format is designed to foster mutual understanding, deepen public knowledge of this critical chapter of history, and spark thoughtful conversation about its enduring relevance in 21st-century society.

  • Inquiry ‘pending’ after ‘Bounty’ crawls into Magistrates’

    Inquiry ‘pending’ after ‘Bounty’ crawls into Magistrates’

    A shocking incident at Barbados’ Oistins Magistrates’ Court has sparked an official internal investigation by the country’s prison service, after high-profile murder defendant Nigel “Bounty” Pinder was filmed dragging himself across the ground from a prison transport vehicle into the courthouse last week, Barbados TODAY can exclusively confirm.

    Pinder’s attorney, Senior Counsel Angella Mitchell-Gittens, revealed that her client had been involved in a traffic accident earlier this month while traveling from prison to a court hearing. Following the crash, a medical professional ordered Pinder to remain confined to a wheelchair for mobility. Mitchell-Gittens told reporters that she initially dismissed noise outside the courtroom as routine activity common around judicial buildings, until she noticed Pinder seated on the ground inside the dock. The accused indicated to his lawyer that prison staff had denied him access to a wheelchair for the journey and refused to assist him into the courthouse, forcing him to drag himself across the pavement to attend his hearing.

    “This treatment is unacceptable. No person should be subjected to this kind of treatment, no matter what charges they face,” Mitchell-Gittens said in court after the incident. She added that she had already sent formal letters to Prison Superintendent DeCarlo Payne and Home Affairs Minister Gregory Nicholls, calling for a full explanation and accountability for the incident. As of Thursday, Payne confirmed he had not yet received the correspondence.

    In an official statement to Barbados TODAY, Payne confirmed that the matter had been formally brought to his attention by the Ministry of Home Affairs, and he has ordered a full, comprehensive report from all personnel involved in the incident and Pinder’s transport. Payne explained that the finalized report must be submitted to his office for review, and he declined to comment further on the details of the incident until the inquiry is completed. “Any comment I make before the report is finalized would be premature and not rooted in confirmed facts,” he said.

    When asked about existing protocols for transporting inmates with limited mobility, Payne noted that under standard operational procedures in recent years, inmates who are unable to move independently are not transported to court appearances without proper accessibility arrangements. “If an individual requires a wheelchair, we make all necessary arrangements to ensure that person can attend court safely and with dignity,” he stated.

    The incident has reignited public discussion in Barbados over prisoner welfare standards and correctional service transport protocols, with advocacy groups calling for the probe to result in tangible policy changes to prevent similar mistreatment going forward.

  • International media here for Crop Over push

    International media here for Crop Over push

    As Barbados enters the final celebratory stretch of its iconic 2026 Crop Over Festival, more than 50 international journalists, digital content creators and social media influencers have gathered on the island as part of an aggressive new push by local tourism authorities to elevate the festival’s global profile and drive a surge in post-event visitor arrivals. This targeted invitation forms a core component of the Barbados Tourism Marketing Inc. (BTMI)’s wider national strategy: to build widespread international awareness of Barbados as a top cultural travel destination by giving global media voices first-hand access to the island’s one-of-a-kind cultural traditions ahead of the festival’s grand closing, allowing them to share their unfiltered experiences with audiences across the world.

  • Simons wil Suriname beter voorbereiden op milieurampen na vervuiling Saramaccarivier

    Simons wil Suriname beter voorbereiden op milieurampen na vervuiling Saramaccarivier

    A major pollution event along Suriname’s Saramacca River has exposed critical gaps in the South American nation’s capacity to respond to environmental emergencies, according to President Jennifer Simons. During an official visit Thursday to Pikin Saron, one of the rural riverfront communities hardest hit by the contamination, Simons outlined urgent reforms to address the crisis and prevent future disasters.

    Pikin Saron residents have already received emergency food assistance from the president’s cabinet in recent days, as ongoing pollution has killed off large populations of fish and left the river’s water unsafe for drinking or domestic use. Simons emphasized that this event serves as a serious wake-up call for Suriname, laying bare a painful structural weakness the country can no longer ignore: the nation currently lacks the domestic laboratory capacity to identify the source of a pollution emergency quickly.

    With no in-country analytical capabilities, water samples collected from the contaminated river have had to be shipped abroad for testing, with results not expected for roughly two weeks. “We have regulations on the books, but if we lack a laboratory to pinpoint the cause of an emergency when it strikes, we are simply not taking this issue seriously,” Simons told residents during her address. To fix this gap, she called for targeted investments in domestic environmental testing laboratories, alongside tighter regulatory oversight of harmful chemical use and expanded protections for the upper watersheds of Suriname’s river systems.

    Simons also stressed that both large and small enterprises working with chemical substances carry significant responsibility for preventing contamination. She ordered an investigation into whether the parties responsible for the Saramacca River pollution held valid operating concessions and complied with existing environmental regulations. “If a company holds a concession to operate, it also has a binding responsibility to protect the communities and environment around it,” she stated. The president added that the National Environmental Authority (NMA) must enforce strict requirements for chemical storage and handling, to prevent harmful substances from leaching into the environment during floods or other unforeseen events. Most importantly, she confirmed that any party found responsible for the pollution will be held fully liable for the damage caused, while the government explores mechanisms to compensate affected residents for their losses.

    The president also drew a clear connection between the current disaster and the country’s small-scale gold mining sector, an industry that has long been linked to widespread river contamination in Suriname. According to communications from the Suriname Communications Service, Simons noted that the nation currently captures too little revenue from small-scale gold mining, while the harmful chemicals used in unregulated operations degrade ecosystems, damage community water supplies, and even result in avoidable gold waste that cuts into miners’ own profits.

    To address these overlapping issues, the Surinamese government plans to support a gradual transition to safer, more sustainable mining methods across the sector. Simons noted that the shift will ultimately deliver higher profits for artisanal miners, ensure fair tax contributions to the national budget, and cut down on avoidable environmental damage. In addition, the Ministry of Land Policy and Forest Management is working to protect vulnerable forest ecosystems in river upper watersheds, a measure designed to stop pollution from spreading across entire river systems and devastating entire rural communities, as seen in the Saramacca event.

    Simons concluded by calling on the NMA to assess what additional safety measures are needed to prevent similar environmental disasters from occurring again, and to rebuild affected communities’ trust in the safety and quality of local river water. The investigation into the exact cause of the Saramacca River pollution remains ongoing as of the president’s visit.

  • Could Fish Skin Become Belize’s Next Big Business?

    Could Fish Skin Become Belize’s Next Big Business?

    In the coastal Belizean town of Hopkins, a groundbreaking regional workshop last week is opening doors to an unexpected new economic opportunity: turning discarded fish waste into high-value, sustainable handcrafted goods. The initiative, which targeted local women, young entrepreneurs, and small-scale fishing community members, trains participants to convert fish skin that would otherwise be thrown away into durable, natural leather for products ranging from handbags and wallets to footwear and apparel.

    This upskilling program is a core component of the SICA Azul Project, an initiative focused on unlocking additional revenue streams from Central America’s fishing industry by leveraging underutilized byproducts. Leading the hands-on training was Pili Luna, a Honduran innovator who traveled to Belize through the Consejo Agropecuario Centroamericano. Luna holds a international patent for her unique fish skin-to-leather conversion method, which stands out for its low-barrier, eco-friendly design.

    Unlike industrial leather production that relies on heavy machinery, toxic chemicals and high energy inputs, Luna’s process is 100% natural, fully artisanal, and requires no electricity or specialized industrial equipment. The entire workflow takes just three hours of labor per week per batch, with finished, usable leather ready for production within two weeks — all starting from material that once ended up in landfills or discarded as waste after fish processing.

    For participating local entrepreneurs, the training has already sparked new business plans. Ashanti Martinez, founder of Belizean brand Ashanti’s Crochet Design, intends to integrate the sustainable fish skin leather into her existing line of handmade bags to create unique, locally sourced products. Another participant, Leshawn Woodye, noted the versatility of the material, pointing out that it can be used to manufacture everything from clothing to high-quality footwear.

    Hally Faux, a local fisher based in Hopkins, described the workshop as a transformative shift in how fishing communities view industry waste. “All that skin goes to waste after a while because of the fillet and whatever they do with it, and as a fisher myself, I learned to turn the fish skin into leather, and now I have a short business idea,” Faux explained.

    Belize’s Agriculture Minister Rodwell Ferguson has already pledged government support to help participants turn their new skills into a viable, scalable industry. Ferguson announced plans to assist the participating women in forming a collective cooperative, as well as helping the group access startup funding to launch their businesses. “This is our income for them as a mother, as a wife, so I’m going to work with them for it to be accomplished,” Ferguson said.

    If successful, the new fish leather industry could deliver dual benefits for Belize: it would cut down on organic waste from the country’s large fishing sector while creating stable, locally controlled income streams for marginalized groups including women, youth and small-scale fishing families that rely on the ocean for their livelihoods.

  • Seven students receive Chinese scholarships

    Seven students receive Chinese scholarships

    In a formal ceremony hosted Wednesday at the Chinese Embassy in Morne Daniel, seven young Dominican scholars formally received full scholarships funded by the Chinese government to pursue higher education at top universities across China.

    The seven recipients, selected through the bilateral Chinese Government Scholarship Program, are Tiago Alishaw, Clint Iverson Lecointe, Michaela Warrington, Ayana Nakita Jordanne Augustine, Abigail Hannah Daniel, Nicquan Kern Richards and Jeriah Makeya Ovesen, comprising three male and four female students from the Caribbean island nation.

    Speaking on behalf of the government and people of the Commonwealth of Dominica, Octavia Alfred, the country’s Minister for Education, described the moment as a landmark occasion filled with national pride and profound gratitude. She emphasized that this opportunity marks a transformative turning point not only for the seven individual students, but also for the long-term future of Dominica as a whole.

    Alfred reinforced the widely held principle that education stands as the most impactful long-term investment a nation can make in its own development. With this scholarship initiative, she noted, that critical investment is being directed straight to Dominica’s most valuable national asset: its young people.

    Beyond framing the support as traditional development assistance, Alfred underlined the deeper meaning behind the gesture. The scholarship program, she explained, is far more than an act of generosity or a routine component of bilateral cooperation – it is a tangible demonstration of mutual trust. This trust extends to the potential of Dominican youth, the growth trajectory of the country, and the enduring bilateral friendship between Dominica and China that has consistently deepened year after year. Alfred closed her remarks by extending formal thanks to the government and people of the People’s Republic of China for their unwavering partnership and investment in Dominican education. The official photograph of the scholarship recipients alongside diplomatic and government officials was provided courtesy of the Chinese Embassy in Dominica.