Carib Scope

分类： business

  • Jaarverslag Centrale Bank 2023: Economisch herstel en versterking monetaire reserves

    Jaarverslag Centrale Bank 2023: Economisch herstel en versterking monetaire reserves

    The Central Bank of Suriname (CBvS) has documented a sustained economic recovery and significantly reinforced financial standing in its recently published 2023 annual report. Under Governor Maurice Roemer’s leadership, the institution highlighted that strict monetary policy, fiscal consolidation, and successful completion of the IMF program served as foundational pillars for this progress.

    The implementation of the International Monetary Fund’s Extended Fund Facility (EFF) program returned to full compliance in 2023 after Suriname missed several reviews in 2022. The nation successfully completed four IMF reviews last year, substantially boosting confidence among both domestic and international partners.

    Economic activity demonstrated positive momentum with real GDP growth reaching 2.5% in 2023, slightly above the previous year’s 2.4% expansion. This growth was primarily driven by wholesale and retail trade sectors, markets, and manufacturing industries. Additional contributions came from mining sector recovery, modest service industry improvements, and normalized trade activities.

    Inflation showed significant improvement throughout the year, declining approximately 22 percentage points to reach 32.6% by December 2023. This reduction resulted from tight fiscal policies, the Central Bank’s constrained monetary approach, and stabilization of the foreign exchange market. However, the Bank emphasized that inflation remained elevated compared to regional benchmarks, continuing pressure on purchasing power.

    The Central Bank concluded 2023 with a positive financial outcome, reporting an operational result of SRD 6.15 billion. After accounting for unrealized portions of monetary asset and foreign currency liability revaluations, the institution recorded an allocable positive result of SRD 4.49 billion, which has been transferred to the Bank’s reserve fund.

    The financial statements, prepared according to International Financial Reporting Standards (IFRS) and audited by BDO Assurance NV with an unqualified opinion, revealed substantially strengthened capital position. This improvement was facilitated by provisions in the 2022 Banking Act that enable self-adjusting capital and reserve fund mechanisms.

    Looking beyond 2023, Governor Roemer emphasized the critical importance of further consolidating macroeconomic stability and deepening structural reforms. Economic diversification, improved business climate, and targeted investments in productive sectors remain essential for achieving sustainable and inclusive growth while developing a more resilient economic model.

  • Belize Postal Service Resumes U.S. Shipments After Suspension

    Belize Postal Service Resumes U.S. Shipments After Suspension

    The Belize Postal Service (BPS) has announced the full restoration of outbound mail services to the United States effective January 7th, concluding a four-month operational suspension. This disruption originated from August 2025 when U.S. authorities implemented sweeping changes to international shipping regulations, eliminating the previously established duty-free threshold for inbound packages.

    In response to these regulatory shifts requiring customs duties and taxes on all shipments, BPS has implemented the Universal Postal Union’s Delivered Duty Paid (DDP) Global Solution. This comprehensive framework ensures full compliance with U.S. customs requirements while simultaneously enhancing service delivery for Belizean consumers and businesses.

    Postmaster General Dr. Marsha Price elaborated on the new operational protocol: “The DDP system enables us to collect applicable duties prior to shipment routing through designated third-party intermediaries acting on behalf of U.S. Customs and Border Protection. This represents a fundamental restructuring of our cross-border logistics.”

    The revamped system introduces digital transparency through the Postal Service Customer Automation System, allowing users to calculate customs duties, fees, and freight charges via the BPS website before visiting physical locations. While digital access remains prioritized, Dr. Price confirmed continued in-person assistance for customers lacking internet connectivity, ensuring equitable access to international postal services.

    This resumption signals Belize’s adaptive response to evolving global trade regulations while maintaining critical economic connections to United States markets through modernized postal infrastructure.

  • Transport Board bolsters maintenance amid electric bus rollout

    Transport Board bolsters maintenance amid electric bus rollout

    Barbados is accelerating its transition to sustainable public transportation with a major $21 million investment in 35 new electric buses, significantly expanding the state-operated fleet under the Transport Board. This initiative marks a pivotal step in the nation’s commitment to renewable energy and enhanced rural connectivity.

    Deputy Prime Minister and Transport Minister Santia Bradshaw affirmed the government’s dedication to both vehicle longevity and network efficiency, particularly in underserved rural regions. While acknowledging that maintenance challenges may persist, Bradshaw emphasized the strengthened partnership with Chinese manufacturer BYD, a global leader in electric vehicles.

    “Our collaboration with BYD has been transformative,” Bradshaw stated during a press briefing at Bridgetown Port. “They have established local technical support operations in Barbados, directly addressing earlier operational difficulties we encountered.”

    The initial deployment phase revealed practical challenges including damage from overhanging vegetation and general wear issues. These were addressed through dual approaches: enhanced road infrastructure development and strengthened maintenance protocols developed with BYD’s on-island technical teams.

    Bradshaw highlighted the comprehensive nature of Barbados’ transportation strategy: “This represents a holistic infrastructure investment exceeding $58 million in public transit, complemented by approximately $230 million in road improvements specifically for the Scotland District. We’ve completed 20 roads already with numerous others in development.”

    The local presence of BYD technicians has facilitated knowledge transfer and capacity building, enabling Barbadian technical teams to work alongside Chinese experts to maintain and optimize the new electric fleet. This cooperation ensures sustainable operational capabilities beyond initial deployment.

    Bradshaw characterized the government’s approach as “comprehensive and long-term,” noting that infrastructure development encompasses not just vehicles but also road conditions that directly impact vehicle longevity and operational efficiency.

  • Antigua Cruise Port Welcomes 14,000 Cruise Passengers to Start the New Year

    Antigua Cruise Port Welcomes 14,000 Cruise Passengers to Start the New Year

    Antigua and Barbuda commenced 2026 with exceptional momentum as its ports witnessed an unprecedented influx of cruise tourism on New Year’s Day. The dual-island nation welcomed 14,545 passengers across multiple harbors, signaling robust confidence in its maritime tourism sector and establishing a potentially record-breaking trajectory for the ongoing cruise season.

    St. John’s Harbour served as the primary gateway with four major vessels simultaneously in port: Costa Fascinosa, MSC Virtuosa, Royal Caribbean International’s Freedom of the Seas, and Amera. These ships collectively disembarked 14,387 passengers into the capital, generating substantial commercial activity and economic opportunities throughout the city. Beyond the main port, the islands demonstrated their distributed tourism capacity with Le Ponant delivering 32 visitors to Barbuda while Star Flyer brought 126 passengers to Falmouth.

    Gasper George, General Manager of Antigua Cruise Port, expressed enthusiasm about the strategic significance of this strong commencement. “There’s particular symbolism in initiating the New Year with our maritime infrastructure operating at peak capacity and our destination dynamically engaged,” Mr. George observed. “This impressive opening not only underscores the cruise industry’s sustained confidence in our offerings but also acknowledges the coordinated efforts behind creating exceptional visitor experiences. The outlook appears even more promising with anticipated high-volume days potentially exceeding 17,000 passengers as the 2025/2026 season advances, indicating we may achieve unprecedented visitation records.”

    Antigua Cruise Port has extended New Year greetings to its network of partners, cruise operators, stakeholders, and local communities. The organization reaffirmed its commitment to maintaining secure, efficient, and passenger-focused port operations while enhancing collaborative relationships. This strategic approach aims to consolidate Antigua and Barbuda’s status as both a premium and reliable cruise destination within the competitive Caribbean marketplace.

  • Olieprijzen dalen na grootste jaarlijkse verlies sinds 2020

    Olieprijzen dalen na grootste jaarlijkse verlies sinds 2020

    Global oil markets commenced 2026 with downward momentum as both Brent crude and West Texas Intermediate (WTI) extended losses following their most substantial annual decline since 2020. The benchmark contracts concluded 2025 with nearly 20% depreciation, reflecting market preoccupation with supply surplus concerns rather than geopolitical instability.

    As of Friday afternoon trading sessions, Brent crude futures stood at $60.29 per barrel, recording a decrease of 55 cents, while WTI contracts declined by 53 cents to $56.89 per barrel. This downward trajectory persists despite escalating tensions in Ukraine, where intensified Ukrainian attacks on Russian energy infrastructure aim to disrupt Moscow’s military financing capabilities. Similarly, recent US sanctions targeting Venezuelan oil enterprises and tanker operations have failed to generate upward pricing pressure.

    The Middle East presents additional complexities as diplomatic strains between OPEC members Saudi Arabia and the United Arab Emirates regarding Yemen’s situation have intensified, evidenced by suspended flights to Aden airport. These developments precede OPEC+’s virtual assembly scheduled for January 4th, where market observers anticipate extended production restraints through Q1 2026.

    Analysts project 2026 will prove pivotal for OPEC+ in managing global supply equilibriums, with Chinese crude inventory replenishment during the year’s first half expected to provide market support. The current price stability embodies the tension between short-term geopolitical risks and longer-term fundamental indicators suggesting persistent oversupply conditions.

    Market dynamics continue to be shaped by multifaceted influences: post-pandemic economic recovery patterns, energy transition investments, and evolving demand from major economies including China and India. The ongoing conflict in Ukraine since 2022 has introduced sustained volatility to energy markets, disrupting Russian supply chains while triggering price fluctuations. Concurrently, OPEC+ production agreements maintain regulated output to stabilize markets.

    The petroleum industry’s long-term outlook remains subject to structural pressures from renewable energy adoption and decarbonization initiatives, suggesting fundamental transformations in price formation mechanisms beyond immediate geopolitical considerations.

  • Foreign gold miners given 24 hours to stump up real production, face expulsion

    Foreign gold miners given 24 hours to stump up real production, face expulsion

    In a decisive move to combat gold smuggling and revenue loss, Guyana’s President Irfaan Ali has delivered a stern warning to foreign mining operations across the nation. During a high-level meeting with officials from the Guyana Geology and Mines Commission (GGMC) and the Ministry of Natural Resources on January 2, 2026, the President announced that international miners must fully declare their actual gold production within 24 hours or face severe consequences.

    The presidential directive specifically targets mining dredges that have shown suspiciously low or zero production declarations. “All registered dredges with no declaration will be deregistered, and all foreign miners operating illegally in Guyana must be identified for prosecution and expulsion,” President Ali stated following the emergency meeting. The administration has identified Brazilian miners as particularly problematic, though Chinese mining operations have also been implicated in underreporting practices.

    Notably, the President’s statement exempted Zijin Mining Group, China’s major gold producer in Guyana, which officials confirmed has remained compliant with local mining regulations. The crackdown comes as Guyana pursued an ambitious target of 500,000 ounces of gold production in the previous year.

    Beyond the immediate deadline, the government has announced broader reforms to increase transparency in the mining sector. The Guyana Gold and Diamond Miners Association will collaborate with the Natural Resources Ministry to ensure all mining operations maintain proper registration and establish local bank accounts. Ronaldo Alphonso, President of the mining association, echoed the government’s position, urging miners to “make 2026 the year of compliance and declaration” to ensure the industry’s long-term sustainability.

  • VC Bird International delivers during a busy start to winter season

    VC Bird International delivers during a busy start to winter season

    Global aviation is witnessing a substantial resurgence as the new year commences, with VC Bird International Airport in Antigua and Barbuda emblematic of this vigorous trend. The facility is currently processing unprecedented passenger volumes, signaling an exceptionally robust inauguration to the 2025/2026 winter tourism season.

    The airport recently encountered its second peak operational day within a brief timeframe, with last Monday’s intensive activity mirroring the previous Saturday’s processing of 14 international flights. This surge reflects strengthened international confidence in the dual-island nation’s renowned hospitality infrastructure, particularly its world-famous beaches and customer-centric services that initiate upon arrival.

    Despite the overwhelming passenger traffic, the airport administration has maintained exemplary operational standards. Travelers have reported surprisingly efficient processing times and minimal disruptions. International visitors Mr. and Mrs. Chee-loy, who concluded their week-long winter retreat at Jolly Beach Resort, attested to this seamless experience. Noting the frequent aircraft movements visible from their hotel, they anticipated significant congestion at the airport. Contrary to their expectations, they described their transition through the terminal as ‘very smooth and efficient.’

    With the heavy traffic pattern expected to continue through January 11th, airport authorities are proactively advising passengers to arrive at least two hours before scheduled departures. Travelers seeking additional guidance are encouraged to consult their respective airlines for specific recommendations tailored to VC Bird International Airport’s operations during this peak period.

  • Belize to Resume US Shipments: Here’s What You Need to Know

    Belize to Resume US Shipments: Here’s What You Need to Know

    Beginning January 7, 2026, Belize will recommence postal shipments to the United States following a four-month operational pause. This suspension was precipitated by sweeping changes to U.S. customs regulations instituted by Executive Order 14324, signed by President Donald Trump on July 30, 2025.

    The landmark policy shift eliminated the longstanding de minimis threshold, which had previously exempted imported goods valued under $800 from customs duties and formal processing. The new mandate requires that every parcel entering the United States, irrespective of its declared value, must now undergo customs clearance and be subject to applicable tariffs.

    Dr. Marsha Price, Postmaster General of the Belize Postal Service, characterized the U.S. rule change as a significant disruption to global postal logistics. “The conventional practice has always placed the responsibility for collecting customs duties on the destination country. This policy reversal presented an unprecedented challenge for postal administrations worldwide,” Dr. Price stated. The hiatus was necessary to await a standardized international framework from the Universal Postal Union (UPU) to manage this new paradigm.

    The resumption of service will be facilitated by the UPU’s Delivered Duty Paid (DDP) system. This mechanism enables the calculation and pre-payment of all requisite duties and taxes in Belize prior to a package’s departure, streamlining its journey through U.S. customs.

    Key procedural changes for consumers include:
    – Mandatory customs duties on all U.S.-bound parcels, removing the previous value-based exemption.
    – Full pre-payment of all estimated duties and fees within Belize.
    – Online accessibility for shipping cost calculations to facilitate informed planning.
    – In-person assistance at post offices for customers lacking internet access.

    A phased soft launch is scheduled for January 5, leading to a full public rollout on January 7. Dr. Price assured the public of the postal service’s commitment, affirming, “We are here to assist our customers throughout this entire new process.”

  • JMMB reorganises its boards

    JMMB reorganises its boards

    Jamaican financial services conglomerate JMMB Group Ltd has implemented a significant board reorganization across its corporate structure, effective December 31, 2025. The restructuring impacts both the parent company and its subsidiary, JMMB Financial Holdings Ltd, following regulatory approval from the Bank of Jamaica.

    Five directors have stepped down from JMMB Group Ltd’s board: Andrew Cocking, High Wayne Powell, V Andrew Whyte, Dr. M Anne Crick, and Reece Kong. Simultaneously, JMMB Financial Holdings Ltd witnessed the departure of two board members: Audrey Deer Williams and Audrey Welds.

    The transformation comes after the Bank of Jamaica granted formal authorization under Section A (1) (a) of the Banking Services Act 2014, permitting JMMB Financial Holdings Ltd to operate as an official financial holding company. This regulatory milestone prompted the comprehensive governance review.

    Corporate governance principles served as the driving force behind the board restructuring. JMMB Group emphasized that the changes aim to establish clearer independence between the two boards, enhancing oversight mechanisms and strengthening accountability frameworks throughout the organization.

    The Group publicly acknowledged the contributions of departing directors, recognizing their service during a period of significant regulatory advancement. This restructuring represents a strategic alignment of corporate governance with the company’s newly approved financial holding company status, potentially signaling a new chapter in JMMB’s operational framework.

  • NGC on shutdown: ‘Nutrien held TT to ransom’

    NGC on shutdown: ‘Nutrien held TT to ransom’

    In a sharply worded statement issued January 2, Trinidad and Tobago’s National Gas Company (NGC) has accused Canadian fertilizer giant Nutrien of holding the nation “to ransom” by deliberately shutting down operations despite government efforts to maintain its presence. The NGC asserts that Nutrien’s closure decision stemmed exclusively from profit-maximization motives rather than legitimate operational constraints.

    The controversy emerged following criticism from former Energy Minister Stuart Young, who blamed the current administration for the plant shutdown that will eliminate hundreds of jobs. The NGC responded by detailing how Nutrien had rejected multiple compromise proposals while attempting to secure favorable long-term gas contracts and maintain legacy port rates.

    According to the state company, the dispute originated from Nutrien’s resistance to updated pier user charges at Savonetta and concerns about natural gas supply reliability. The Canadian company, which produced approximately 85,000 tonnes of ammonia and 55,000 tonnes of urea monthly from its Trinidad facility, ceased operations in October after negotiations stalled.

    The NGC revealed that during five separate negotiation sessions, Nutrien representatives threatened to launch a public relations campaign portraying the company as a victim of government pressure. In one particularly contentious incident, National Energy officials were served with an injunction application while en route to what was supposed to be a good-faith negotiation meeting.

    Countering Young’s allegations, the NGC statement highlighted that the previous administration had allowed pier user contracts to expire without renewal since 2018, resulting in over $500 million in lost revenue. The former administration also waived $14.35 million in “take or pay” liabilities owed by Nutrien in August 2024 and permitted downstream companies to manipulate payment terms, creating a de facto $160 million overdraft facility.

    The gas company emphasized that most petrochemical producers in Point Lisas Estate do not repatriate US dollar revenues to Trinidad, instead maintaining foreign accounts in financial hubs including New York, London, Zurich, and Brussels. Despite Nutrien’s departure, NGC has successfully reallocated the gas supply to other downstream customers and fulfilled its Atlantic LNG commitments, generating significant financial benefits for the nation.