分类: business

  • OPINION: Breaking the Deadlock

    OPINION: Breaking the Deadlock

    Collective bargaining stands as a foundational legal process governing negotiations between employers and labor unions, the recognized representative bodies that advocate on behalf of worker interests. Rooted in international labor standards, the International Labour Organization’s Convention No. 98 enshrines workers’ right to collectively negotiate core employment terms including compensation, working hours and employment conditions – a right that governments are legally and ethically obligated to protect and uphold.

    By design, collective bargaining is built on the principle of mutual good faith: both parties enter discussions with the shared goal of reaching a mutually acceptable compromise, rather than forcing through outcomes dictated by just one side. Despite this norm, unilateral action remains a common go-to for governments when they act as the employer for public sector workers. Typically, this approach is justified by claims that negotiations have reached an unbreakable deadlock – a stalemate in which neither side is willing to make further concessions to bridge gaps over compensation, bringing all discussions to a complete halt.

    Historical patterns of government involvement in these negotiations reveal a repeated tendency toward heavy-handed, top-down resolution. When deadlocks are declared, governments often bring the dispute to national parliament for a vote, where ruling-majority lawmakers vote to impose the government’s preferred compensation terms. Many modern labor rights observers characterize this approach as little more than a bullying tactic, raising fundamental ethical and legal questions about the legitimacy of this method for breaking negotiation deadlocks.

    Critics argue that forcing one party’s will onto the other irreparably damages the foundational trust required for productive collective bargaining. In the private sector, the standard practice for resolving deadlocked negotiations is to bring in an independent third-party mediator to facilitate compromise – a solution that is rarely pursued for public sector wage disputes, despite its proven track record.

    While negotiations can certainly grow contentious, many deadlocks are avoidable when parties avoid rigid, inflexible stances. Outcomes are far more likely to be fair and sustainable when both sides center shared goals, rely on objective, data-backed criteria, and remain open to targeted concessions. Formal legal definitions characterize a true deadlock as an irreconcilable standoff, often when opposing blocs are equally divided and unable to take any action – a scenario that is rarely invoked as a legitimate outcome in good-faith bargaining.

    Labor unions have well-documented, strong objections to the use of unilateral legislation to settle wage negotiations, for a host of compelling reasons. First, this approach directly undermines the entire framework of collective bargaining and erodes unions’ ability to secure fair compensation for their members. One-size-fits-all legislation eliminates the flexibility needed to adjust compensation to match rising inflation and address unique needs of different public sectors, while also sidelining workers’ demands and stripping away their right to strike for improved working terms.

    Beyond weakening worker power, this unilateral approach also inflicts lasting harm on democratic engagement in the workplace. By removing workers’ voices from the negotiation process and imposing a top-down outcome, the government effectively denies workers a fundamental human right enshrined in international labor standards. This analysis comes from Dennis De Peiza, a Labour Relations and Employment Relations Consultant attached to Regional Management Services Inc.

  • Louisy re-elected SLHTA president, pledges stronger focus on tourism growth

    Louisy re-elected SLHTA president, pledges stronger focus on tourism growth

    The Saint Lucia Hospitality and Tourism Association (SLHTA) has confirmed that Erwin Louisy, Managing Director of destination management company Barefoot Holidays DMC, has won an uncontested second term as the organization’s president, set to serve through 2028. The announcement was made during the association’s 62nd Annual General Meeting, which convened Wednesday at Saint Lucia’s Harbor Club, where vice presidential candidate Karolin Troubetzkoy, representing the Anse Chastanet and Jade Mountain resorts, was also re-elected without opposition.

    In remarks following her confirmation, Louisy opened by expressing heartfelt gratitude to members of the association, the sitting Board of Directors, industry allies and public sector partners for the continued trust placed in her leadership. Recounting her early career crossroads, she shared that she ultimately chose tourism over paths in arts and fashion, a decision she has never regretted.

    Louisy laid out a clear policy agenda for her new term, centered on strengthening SLHTA’s internal operations, elevating the quality of services delivered to member businesses, and securing the organization’s long-term financial and institutional sustainability. Key priorities under her leadership will include identifying and developing new streams of revenue for the association, conducting a comprehensive review of the current membership structure, and expanding the tangible value that membership delivers to stakeholders across Saint Lucia’s tourism sector.

    Beyond internal reforms, Louisy emphasized that SLHTA will remain a leading advocacy voice for the Caribbean nation’s tourism private sector. The association will push for deeper cross-sector collaboration between private and public stakeholders, stronger interconnected economic linkages across the tourism ecosystem, and elevated industry-wide service standards. It will also advocate for policy frameworks that boost the sector’s global competitiveness, covering critical areas from expanded international airlift access and accelerated renewable energy adoption to targeted destination marketing, streamlined business regulations and enhanced public safety.

    Institutional upgrades to key tourism-aligned public and private entities will also feature on SLHTA’s agenda, Louisy confirmed, including improvements to the Saint Lucia Hyperbaric Chamber and the Tourism Enhancement Fund. “The year ahead will require intentional focus, coordinated collaboration and decisive action to move our sector forward,” Louisy told attendees. “SLHTA must stay rooted as a platform for collective progress and a catalyst for inclusive growth, working to ensure that tourism expansion delivers tangible benefits to our members, local communities and Saint Lucia’s entire national economy.”

    This year’s AGM carried the overarching theme “Powering the Growth of Tourism – Utilities: Essential for Saint Lucia’s Future”, hosted by presenting sponsor Liberty Business with additional support from gold sponsor Saint Lucia Electricity Services Limited (LUCELEC) and bronze sponsor the Saint Lucia Tourism Authority (SLTA). The gathering brought together a cross-section of tourism industry stakeholders, senior government representatives and private sector partners to deliberate on the most pressing barriers to sustained growth and competitiveness for Saint Lucia’s core economic sector.

    deliberations centered on high-priority infrastructure and utility needs, from long-term water security and resilient energy systems to reliable telecommunications coverage, industry-wide advocacy priorities and broader infrastructure upgrades. Attendees universally emphasized the critical need to build robust, modern systems across these areas to support the pipeline of anticipated tourism development and expansion projects across the island.

  • Light & Power at 115 toasts staff

    Light & Power at 115 toasts staff

    On a celebratory Friday at the University of the West Indies Cave Hill Campus’ Errol Barrow Centre for Creative Imagination, Barbados’ sole electricity utility, Barbados Light & Power Company (BL&P), capped off 115 years of continuous service to the island nation with a dual milestone celebration: its second annual Luminosity Awards honoring standout staff, and the announcement of a newly completed collective bargaining agreement with its employee union.

    Gathering under the event theme “Blueprints of Excellence”, the ceremony centered the people who have kept BL&P running reliably for more than a century, moving beyond corporate milestone speeches to lift up the individual and team contributions that underpin the island’s critical energy infrastructure. BL&P Managing Director Roger Blackman opened the event by tying the two major developments together, noting that the successful conclusion of union negotiations fell on the exact date of the utility’s 115th birthday.

    “This week, as we mark our 115th anniversary, we also reached another important milestone—the successful conclusion of our union negotiations actually on our birthday,” Blackman told the assembled crowd of staff, guests, and leadership. “It is a reminder that progress is built not only through infrastructure and investment, but through dialogue, partnership, and respect.”

    Blackman emphasized that BL&P’s 11-decade track record of service is no accident, but the product of consistent, deliberate effort from every member of the organization. “Excellence at Light & Power is not accidental. It is reflected in our commitment to safety and the discipline required to maintain our electricity system. Today is about recognition, but it is also about reinforcement—reinforcing the culture we value, reinforcing the standards we expect, and reinforcing the excellence we will need as we continue to build our future.”

    Regional communications strategist Aprille Thomas delivered the event’s keynote address, shining a light on the often-unrecognized work of frontline and behind-the-scenes energy workers. Thomas pointed out that essential services like electricity only draw public attention when failures occur, making intentional internal recognition all the more critical. “When everything is working perfectly, nobody notices,” Thomas observed. “But the minute something goes wrong, everybody remembers your name, where you work, and where you live. Building on the idea that success is often silent, I think days like today are so important because it is a moment in time that you take to just recognise yourselves and the work that you have done. Your success may be silent, but your impact is not.”

    Thomas also shared thoughtful messages written by current BL&P employees to their successors who will hold the same roles 50 years in the future, with recurring themes of prioritizing workplace safety, embracing evolving energy technology, and centering people as the organization’s greatest asset. Echoing one submission, she noted: “The infrastructure we build, the technology we deploy… are important, but they will never be more important than the people who choose every day to be here, to contribute and to care.”

    Following a musical performance by eight-year-old Arturo Tappin III, the son of renowned Barbadian jazz saxophonist Arturo Tappin, the ceremony moved to the presentation of awards across 10 categories honoring individual and team excellence. Top honors went to a slate of standout employees: Communications Advisor Cassandra Crawford took home the Leadership Award, while Network Administrator Barrington Clarke claimed the Innovation Award. Digital Experience Administrator Tamara Browne and Integration Architect Richelle Bowen shared the Customer Service Excellence Award, AMI Operator Dian Brathwaite received the Health & Wellness Award, and Geographical Information Systems Assistant Charles Blenman was honored with the Outstanding Safety Award for a quick intervention that prevented a potentially fatal accident during a joint excavation project with the Barbados Water Authority, where he identified a buried live cable before work proceeded. The Team Spirit Award went to the Operations Generation team, made up of Liu Ross, Rodney Fagan, Damon Straughan, Shamar Atkinson, Kerwyn Price, and Shaquan Jones, for their outstanding collaborative coordination on core projects.

    In addition to competitive awards, the ceremony also honored long-tenured staff, inducting 11 employees into BL&P’s 25-Year Club, with special recognition for workers who have hit 30 and 35 years of uninterrupted service with the utility.

    Closing the event, BL&P leadership framed the 2025 award winners’ work as a blueprint for the utility’s next chapter, as it transitions to renewable energy sources and modernizes Barbados’ national electric grid.

    BL&P’s history stretches back to 1911, when the first commercial electricity supply was launched from a Garrison power station serving Bridgetown and its surrounding neighborhoods. The company was formally incorporated in 1955, when it took over the assets of the earlier Barbados Electric Supply Corporation, and has grown to become the island’s only electricity provider. Today, BL&P operates as a subsidiary of Canada-based energy firm Emera Inc., following the divestiture of the National Insurance Scheme’s stake during the Frendel Stuart administration.

  • Fishers face rising fuel costs as region explores fleet decarbonisation

    Fishers face rising fuel costs as region explores fleet decarbonisation

    Across the Caribbean’s coastal fishing communities, small-scale independent fishers are facing an unprecedented economic squeeze, as surging diesel prices devour their revenue and a region-wide push to decarbonize fishing fleets leaves them grasping for clear support to navigate the transition. For the working fishermen based at Bridgetown’s fisheries complex, daily operations have become a high-stakes gamble: a single voyage out to open water now requires thousands of dollars in upfront fuel investment, with no guarantee of a catch to offset the cost. This crippling expense has pushed livelihoods to the edge, pushing many operators into cycles of debt that force them to raise retail fish prices just to break even.

    The crisis has moved to the top of the regional policy agenda, driven by the Caribbean Regional Fisheries Mechanism (CRFM), which is moving forward with plans to lay the groundwork for a low-carbon future for the sector. The intergovernmental body has launched a search for specialized consultants to carry out decarbonization assessments of the region’s entire fishing fleet, with the end goal of drafting a comprehensive regional strategy and actionable implementation plan. The initiative comes in response to growing global pressure to cut carbon emissions across all maritime industries, a mandate that fishing sector leaders cannot ignore.

    For the fishermen who make their living on the water, the economic case for moving away from costly fossil fuels is already self-evident—even as the practical path forward remains shrouded in uncertainty. Veteran fisher Percy summed up the volatile, constantly rising overheads that have become the industry’s new normal, noting that his annual diesel expenses have remained consistently in the thousands of dollars, shifting between $6,782 and $8,200 in recent years. Another long-time fisherman, Donville “Dox” Brathwaite, echoed this frustration, explaining that he currently carries an outstanding $7,000 diesel bill just to cover his next scheduled voyage. “Fuel costs can eat up as much as 40 percent of a trip’s total revenue,” Brathwaite explained, a burden that leaves little room for profit or reinvestment.

    While most fishermen welcome the prospect of new energy-efficient and alternative fuel technologies that could cut their long-term operational costs, they warn that current policy planning lacks the concrete support structures needed to make the transition a reality for small-scale operators. Unlike large commercial fishing companies, independent small-scale fishers lack the upfront capital required to purchase hybrid engines or adopt low-carbon infrastructure, and they say no clear subsidy programs, training opportunities, or public-private support frameworks have been put in place to close this gap.

    “Right now, the industry is basically on its own,” Brathwaite said, noting that fishers feel abandoned by both government bodies and private sector institutions as they grapple with spiking operating costs. “We don’t just want vague plans for a green future—we need tangible support right now, any support we can get from any source.” Even so, most fishermen remain open to embracing technological change to improve their bottom line. “This is the age of technology,” Brathwaite explained. “If there’s a tool that can cut my costs, make my job easier, and take the pressure off, I’m ready to take it. What we need is help to actually get it.”

    For the CRFM, the biggest test of its upcoming decarbonization strategy will be addressing this gap: crafting a plan that meets global emissions reduction targets while also supporting the small-scale operators that make up the backbone of the Caribbean’s fishing industry. Without targeted investment, subsidies, and capacity building, fishers warn, the green transition could stall before it even leaves the harbor, leaving an already vulnerable industry on the brink of collapse.

  • Farley promises a  smooth transition

    Farley promises a smooth transition

    The long-awaited opening of Tobago’s upgraded ANR Robinson International Airport terminal has a confirmed opening date, according to top regional official Farley Augustine, Chief Secretary of the Tobago House of Assembly (THA). Augustine shared preliminary details about the milestone project during a press briefing held Wednesday at Scarborough Library, where he addressed growing concerns from local airport concessionaires over proposed high relocation and rental costs.

    While Augustine confirmed that a concrete launch timeline has been finalized, he noted that the official public announcement will be made this coming Monday, keeping the exact date under wraps for the short term. A core priority for the THA throughout the transition process has been addressing complaints from small and micro local vendors, many of whom have spoken out against steep proposed space rental fees in the new facility. Some vendors even reported having their applications for commercial space rejected outright, while others pulled out of the process entirely due to cost barriers.

    Augustine moved to ease these concerns this week, emphasizing that punitive exorbitant pricing is neither supported by the THA nor aligned with the Airports Authority of Trinidad and Tobago’s (AATT) goals for the new terminal. “I will not support nor do I think it is the intention of the Airports Authority to be punitive in any way or to be extremely harsh in terms of their fees…and so I think with some patience and some time people would be moved into the airport effortlessly,” he told reporters.

    To make the transition seamless and accessible for local small businesses, the THA has pledged direct support and dedicated funding for booth and kiosk construction for micro-entrepreneurs. Augustine acknowledged that covering custom build-out costs to meet the new terminal’s design and quality standards would pose a major financial burden for small operators working with limited budgets. That is why the regional assembly is stepping in to cover this work, ensuring local vendors can meet requirements without taking on unsustainable debt.

    Earlier on Wednesday, Augustine led a coordinated stakeholder meeting directly at the new terminal site alongside AATT representatives and affected concessionaires. The session included a guided walkthrough of all assigned commercial spaces, designed to answer questions, clarify logistics, and confirm readiness ahead of the official relocation. This on-site engagement is part of a broader series of preparation activities leading up to the terminal’s opening.

    In a formal statement released by the Office of the Chief Secretary, officials confirmed the AATT has guaranteed that all existing small and micro-business operators currently working out of the old terminal — including local sweet vendors and other micro-enterprises — will receive the opportunity to relocate to the new facility. Augustine emphasized that this inclusive approach is intentional: the entire transition process is structured to center local enterprise, support small business growth, and ultimately deliver a better, more authentic experience for visitors arriving in Tobago.

  • Minister Wijnerman: regering moet zich buigen over afbouw brandstofsubsidie

    Minister Wijnerman: regering moet zich buigen over afbouw brandstofsubsidie

    Suriname’s government is set to imminent deliberations on the future of the nation’s temporary fuel subsidy scheme, with Finance and Planning Minister Adelien Wijnerman publicly advocating for a gradual phase-out of the emergency fuel price cap instead of an abrupt elimination, a change framed as critical to preserving the country’s long-term fiscal health.

    Minister Wijnerman laid out the administration’s position during ongoing budget discussions Friday, responding to multiple questions from members of the national assembly regarding the policy’s status. She reminded lawmakers that the temporary price cap was first approved by the cabinet on March 18 this year, implemented as a buffer to shield Surinamese households and businesses from skyrocketing global crude oil prices.

    Under the current policy, retail fuel prices are capped at 53.27 Surinamese dollars (SRD) per liter for diesel and 48.32 SRD per liter for unleaded gasoline. Without the government intervention, Wijnerman confirmed, retail prices would jump to roughly 64 SRD per liter for diesel and 62 SRD per liter for unleaded. The gap between the capped market price and the actual cost of fuel is covered by the government through reduced state energy revenue, a mechanism that has created growing pressure on public finances.

    This foregone state income, Wijnerman explained, creates a persistent drag on government budgets, a situation that could worsen if global oil prices remain elevated for an extended period. When making a final decision on the subsidy’s future, the minister emphasized, four core factors must be weighed: ongoing trends in international crude markets, fluctuations in the Surinamese dollar exchange rate, the available fiscal space in the national budget, and the broad socioeconomic impact that any change would have on local households and business operations.

    A phased wind-down of the price cap, Wijnerman argued, delivers dual benefits: it eases the growing strain on government finances, while also creating policy space to redirect support toward the communities and economic actors that need it most. The current blanket subsidy structure, she noted, disproportionately benefits higher-income households and more profitable businesses that do not require public support to absorb fuel price increases. This is why the minister suggested that targeted social assistance programs represent a more efficient and equitable alternative to the broad, untargeted fuel subsidy currently in place.

    In addition to addressing the future of the policy, Wijnerman clarified that the Finance and Planning Ministry currently holds no outstanding overdue payments to oil companies operating in the country. Any arrears connected to the scheme that may be held by other sector-specific ministries, she added, have yet to be formally reported to the finance department for reconciliation.

  • Grenada tourism push draws Bajan interest

    Grenada tourism push draws Bajan interest

    A new regional tourism push by Grenada is drawing enthusiastic early feedback from Barbadian travelers, with data already pointing to rising cross-island visitor numbers following a slate of targeted promotional events hosted in the Barbadian capital Bridgetown, a senior Grenada Tourism Authority (GTA) marketing representative has confirmed.

    Speaking exclusively to Barbados TODAY on the sidelines of a business trade exposition hosted at Bridgetown’s popular PureOceans Restaurant, Kwame Hamilton, a marketing assistant with the GTA, outlined that the event brought together local Grenadian tourism stakeholders and Barbadian attendees, who got a first-hand look at the destination’s unique offerings—including opportunities to sample Grenada’s world-famous spice exports and local culinary creations. Hundreds of Barbadian citizens stopped by the exposition’s booths to connect with tourism partners and learn more about vacation, adventure and cultural experiences available on the island, Hamilton added.

    “We created this space to let Barbadians meet directly with our team and local operators, so they can get detailed, up-to-date information about everything Grenada has to offer,” Hamilton said during the event, which was documented by photographer Shamar Blunt.

    The multi-day promotional campaign will extend to a public pop-up activation at Bridgetown’s Worthing Square on Friday, opening the initiative up to even more Barbadians who want to explore what the “Isle of Spice” has to offer. According to Hamilton, the pop-up will serve as another accessible hub for consumers to collect travel information, ask questions, and connect with tourism experts.

    At its core, the campaign is designed to boost public awareness of Grenada’s diverse tourism assets among Barbadian travel agents, prospective visitors, and the general public. Beyond its global reputation as the “Isle of Spice,” Hamilton highlighted that Grenada boasts unspoiled natural landscapes, rich colonial and cultural history, and a wide range of unique leisure experiences that appeal to regional Caribbean travelers.

    Organizers hope that after engaging with the promotional events, Barbadians will leave with a deeper appreciation for all that Grenada has to offer as a travel destination, and will consider it for their next regional getaway.

    Hamilton noted that this type of targeted regional marketing has a proven track record of success. Past similar promotional campaigns have already translated to measurable growth in cross-border travel between the two Caribbean nations, with visitor numbers from Barbados to Grenada posting consistent upward movement in recent years. “After our previous promotions, we saw a clear uptick in traffic between Grenada and Barbados, and our market numbers have been trending up ever since,” Hamilton added.

  • Gold miners being asked to build large high-tech Guyanese mining company-Ali

    Gold miners being asked to build large high-tech Guyanese mining company-Ali

    On June 19, 2026, Guyanese President Irfaan Ali used the official commissioning ceremony for Citizens Bank Guyana’s newly renovated Bartica branch to announce a landmark national economic initiative: the formation of the country’s first large-scale domestic gold mining consortium, uniting large, medium, and small local miners under a single Guyanese-owned entity.

    Speaking to attendees at the Bartica event, President Ali emphasized that the consortium marks a strategic shift toward local control of Guyana’s critical gold sector. Rather than ceding large-scale mining opportunities to international operators, the government is supporting the unified group to acquire cutting-edge mining technology, complete required technical planning, and build a globally competitive gold company fully owned and operated by Guyanese citizens. The President added that the initiative will also expand access to financial services across the mining sector, driving deeper financial inclusion for small-scale operators who have historically been sidelined by unequal industry dynamics. He also voiced frustration over reports that larger, established mining operators have been exploiting small-scale local miners, a problem the consortium is designed to address.

    The ceremony also brought announcements of expanded collaboration between the Guyanese government and Citizens Bank, one of the country’s leading financial institutions. President Ali confirmed that the bank has agreed to open a dedicated service desk at the government’s regional service center in Kamarang, to better serve residents of the Upper and Middle Mazaruni region. In turn, the government is in active negotiations to place a development bank service desk and an Electronic Identification Card processing desk at the newly commissioned Bartica branch, bringing critical public services closer to regional residents.

    President Ali also provided an update on the proposed Guyanese Diaspora Bond, a financial instrument designed to give Guyanese living overseas the chance to invest in key domestic development projects including fertiliser production facilities, gas bottling plants, agricultural expansion, and national infrastructure upgrades. During a previous address on May 26, 2026, President Ali had stated the bond would launch within seven days, but no new launch timeline was shared during Friday’s event.

    Eton Chester, Managing Director of Citizens Bank Guyana, used the commissioning to outline the branch’s longstanding role driving regional economic growth. First established 26 years ago in a small, cramped facility, the branch has now relocated to a purpose-built ultra-modern facility that opened to the public in April 2026. Over its 26 years of operation, the Bartica branch has disbursed more than GY$5.5 billion in loans to local individuals and businesses, financing home purchases, small business expansion, transportation fleets, mining and industrial equipment, and other productive investments across Region Seven (Cuyuni-Mazaruni). Nearly GY$1.8 billion of that total lending has been issued in just the past five years alone, a trend Chester says reflects the accelerating pace of economic activity across the resource-rich region. Today, the expanded branch serves 7,000 total customers and has grown its local staff complement from 9 to 17 employees to meet rising demand for financial services.

  • Wijnerman: CBvS betwist uitgangspunten onderzoek naar OMO-kosten

    Wijnerman: CBvS betwist uitgangspunten onderzoek naar OMO-kosten

    During parliamentary budget discussions held on June 19, Suriname’s Minister of Finance and Planning Adelien Wijnerman responded to pointed questions from members of the National Assembly about the monetary policy framework implemented by the Central Bank of Suriname (CBvS), centering on growing scrutiny over the costs of the bank’s flagship Open Market Operations (OMO) and associated interest expenditures. Lawmakers Jerrel Pawiroredjo from the National Party of Suriname (NPS) and Jennifer Vreedzaam from the National Democratic Party (NDP) raised concerns referencing a critical investigative report commissioned by former president Chan Santokhi, which has put the high costs of the policy under the political spotlight. Minister Wijnerman confirmed that the CBvS disputes the core assumptions underpinning the investigative report, and announced she will hold formal consultations with the CBvS leadership to resolve the disagreement over the findings.

    Pawiroredjo argued that the investigation’s findings reveal the Surinamese state has already accumulated billions of Surinamese dollars in interest payments tied to the OMO program. He pressed the government to clarify the fiscal responsibility of these large outlays, asking who will ultimately bear the financial burden, as well as what long-term risks the spending poses to public finances and the broader national economy. For her part, Vreedzaam also raised reservations about the current monetary policy approach, calling on the administration to provide full transparency on the foundational parameters of the OMO cost investigation and how the researchers arrived at the cited spending figures.

    Minister Wijnerman emphasized that while she has not publicly disputed the individual spending figures named in the report, the CBvS has confirmed that the analysis is built on incorrect foundational assumptions that skew the final calculations. She pushed back against criticism by outlining the core purpose of the current monetary policy: the ongoing consolidation of macroeconomic stability after years of volatility in Suriname. Wijnerman explained that OMOs have functioned as the CBvS’s primary policy tool to drain excess Surinamese dollar (SRD) liquidity from the domestic banking system. Through term deposit auctions and the issuance of central bank certificates, the central bank has actively pulled excess liquidity out of the market to curb rampant inflation and maintain exchange rate stability. She added that the CBvS has also maintained a 44% cash reserve requirement to reinforce these efforts, and has deployed foreign exchange auctions when necessary to limit extreme volatility in the country’s currency markets.

    Data presented by the minister shows that 12-month inflation in Suriname has declined from 11.4% at the end of 2025 to 10.8% in March 2026, with a slight uptick to 10.9% recorded in April 2026. Wijnerman stressed that price trajectories are not shaped solely by monetary policy: government spending levels, private and public liquidity creation, and global developments—including rising energy prices and ongoing geopolitical tensions—all play major roles in shaping domestic inflation outcomes.

    On exchange rate performance, the minister noted that the SRD has maintained relative stability in recent months, a result she attributes to a combination of prudent monetary and fiscal policy alongside higher export revenues, driven largely by elevated global gold prices, one of Suriname’s top export commodities. That said, Wijnerman issued a clear warning that the hard-won macroeconomic stability achieved so far remains fragile. She noted that factors including the trajectory of public finances, global commodity price swings, and geopolitical disruptions will continue to shape policy priorities in the coming months. As a result, OMOs will remain a core policy tool for the foreseeable future to manage liquidity growth and preserve hard-won price stability.

  • Grenada targets regional travellers with expanded tourism offering

    Grenada targets regional travellers with expanded tourism offering

    The Caribbean tri-island nation of Grenada is embarking on a strategic repositioning of its tourism sector, shifting away from overreliance on its classic sun-and-coast appeal to draw more regional travelers with a broad, curated lineup of cultural, adventure, culinary, wellness and event offerings. Tourism officials laid out this new growth strategy this week during a media and travel industry dinner held at Divi Southwinds Hotel, where leaders highlighted the one-of-a-kind experiences that set the three-island destination apart from other Caribbean getaways.

    Samantha Thomas, Marketing Executive at the Grenada Tourism Authority, told attendees that the country’s deep roots in history and culture form the foundation of its unique appeal, alongside its well-earned title as the “wreck dive capital of the Caribbean.” Comprising the main island of Grenada, plus the smaller neighboring islands of Carriacou and Petite Martinique, the destination delivers what Thomas calls “a vacation within a vacation” — a layered experience that caters to every type of traveler, from thrill-seeking divers to slow-paced wellness seekers.

    Thomas put particular emphasis on Grenada’s fast-growing reputation as a top culinary tourism destination, noting the country is home to seven operational chocolate factories that offer immersive, farm-to-bar experiences for visitors, alongside a wide range of food-focused activities that highlight its native spices and local culinary traditions. She also showcased the country’s robust eco-tourism portfolio, which includes scenic rainforest nature trails, holistic wellness retreats, and one-of-a-kind marine attractions. Most notable among these is the world’s first ever underwater sculpture park, a bucket-list attraction that many travelers previously associated with far-flung destinations like Bali.

    “You don’t have to fly 19 hours to Bali to check that iconic experience off your list,” Thomas explained. “Our underwater sculpture park is just a short trip for regional travelers — literally half an hour by boat from the main island, and a much shorter flight from most Caribbean neighboring countries. It’s exactly the kind of unique, must-see experience that draws visitors from across the region.”

    Beyond signature attractions, Thomas also outlined the destination’s rapidly expanding events calendar, which now extends far beyond Grenada’s world-famous annual Spice Mas carnival. This year marked the first ever staging of Carriacou’s Lobster and Lambi Festival, and the country already hosts a popular annual Dive and Conservation Festival that combines recreational diving with marine conservation outreach. Later in 2024, the country will launch its inaugural Grenada Flower Festival, a new event inspired by the nation’s unprecedented success at the UK’s iconic Chelsea Flower Show, where Grenadian horticulturalists have claimed 19 gold medals over the years.

    “We’ve decided to turn that award-winning floral legacy into a full public festival that visitors can enjoy,” Thomas said, adding that the new event will be especially appealing to travelers interested in floral design, destination weddings, and group getaways like girls’ trips. She also highlighted the Grenada Diaspora Homecoming event, an initiative modeled after Barbados’ successful We Gatherin’ program that aims to reconnect Grenadians living overseas with their home country and encourage them to visit with friends and family.

    Charmaine Gibbs, a representative of local tourism group Insights Grenada, urged visitors to the main island to make time to travel to Carriacou, the smaller “sister island” that remains largely untouched by mass tourism and offers a quiet, authentic Caribbean experience. “No visit to Grenada is truly complete without experiencing the natural beauty and warm hospitality of Carriacou,” Gibbs said.

    Gibbs also emphasized that regional cooperation in tourism has grown more critical than ever in the post-pandemic travel landscape, arguing that Caribbean residents should take advantage of the world-class, unique experiences available right on their own doorsteps, rather than traveling long distances for bucket-list trips. “Now is the time to open our doors to each other across the region,” Gibbs said. “We can give fellow Caribbean islanders the chance to experience those once-in-a-lifetime trips that people often spend a whole lifetime saving to do — and we have all of it right here, within a short flight or boat ride from home.”