Carib Scope

分类： business

  • COURSE CORRECTION

    COURSE CORRECTION

    Facing a pivotal 2027 lease review with the state-owned Urban Development Corporation (UDC), the Caymanas Acquisition Group (CAG) is fundamentally restructuring its business model for the Caymanas Golf & Country Club. The operator is increasingly pinning the property’s long-term viability on the surrounding commercial and residential development blossoming at Caymanas Estates in St. Catherine.

    CAG assumed operational control of the UDC-owned facility in 2017 under a long-term lease featuring a critical 10-year review clause. An initial capital injection of approximately $30 million was deployed to stabilize and reposition the asset, funding significant enhancements beyond the golf course itself. This investment spearheaded the creation of Villa Vista, a dedicated private events venue that has since become the cornerstone of a thriving weddings and premium functions business, alongside comprehensive upgrades to the course and its supporting infrastructure.

    Despite these improvements, management acknowledges that golf participation has failed to meet initial projections. General Manager Peter Lindo identified demographic challenges as a core issue, noting an aging membership base and the significant time commitment acting as a barrier for younger professionals. In response, CAG has introduced a revamped ‘Flex Play’ membership structure designed to lower the financial barrier to entry through a reduced base fee coupled with heavily discounted green fees per round, aiming to bolster engagement without eroding the revenue base.

    This strategic pivot is part of a broader evolution since the 2017 takeover. Early initiatives focused on monetizing underutilized midweek capacity by marketing the property for corporate retreats and conferences. A 2019 program offering free weekday golf lessons for women sought to broaden local participation. Throughout these efforts, the events business has proven remarkably resilient, now hosting over 100 weddings annually, though it faced a temporary setback from hurricane-related cancellations in late 2023.

    Lindo emphasizes that course quality is not the constraint, citing its consistent standards and role in hosting major tournaments. The future, he contends, is inextricably linked to external development. The advancing Raintree Commercial Complex, Caymanas Special Economic Zone, and related projects are expected to generate the density needed to overcome the location’s accessibility challenge. This development momentum along the Mandela Highway corridor, exemplified by the bustling Kingston 876 commercial district nearby, signals a growing investor appetite for areas outside traditional urban cores.

    While optimistic, Lindo cited ongoing infrastructure constraints—water, electricity, and road conditions—as issues requiring continued dialogue with the UDC. Concurrently, CAG is investing in the sport’s long-term future through youth programs with InSports, recognizing that cultivating interest from a young age is essential for sustaining the player pipeline. All factors will be on the table when CAG and the UDC convene for their decisive lease review in 2027.

  • Inflation down in December says CSO

    Inflation down in December says CSO

    The Central Statistical Office (CSO) of Trinidad and Tobago has reported a slight easing of inflationary pressures, with the annual inflation rate for December 2025 measured at 0.4 percent. This figure reflects the percentage change in the all-items index compared to December 2024, marking a subtle decline from the 0.5 percent rate recorded for the November 2025/November 2024 period.

    Notably, the current inflation level matches the 0.4 percent rate observed in the comparative December 2024/December 2023 period, indicating relative price stability in the dual-island nation. The composite all-items index, derived from December’s comprehensive price data, held steady at 125.2, unchanged from November’s reading.

    Within this stable overall framework, the food and non-alcoholic beverages sector experienced a modest 0.1 percent uptick, with the index climbing to 152.9 from November’s 152.8. This incremental rise was primarily driven by increased costs for several essential food items including fresh whole chicken, parboiled rice, tomatoes, fresh carite (a local fish), plantains, eggs, onions, green sweet peppers, and various chilled or frozen poultry and pork products.

    The CSO analysis revealed that these upward price movements were effectively balanced by concurrent decreases in other food categories. Notable declines were observed in the prices of cucumber chive, celery, hot peppers, table margarine, pumpkin, grapes, oranges, frozen whole chicken, and soya bean oil, creating an overall equilibrium in the food basket that contributed to the stabilized inflation rate.

  • Government seeks to raise US$1 billion

    Government seeks to raise US$1 billion

    The Government of Trinidad and Tobago has formally announced its intention to raise US$1 billion through an international bond issuance, according to Legal Notice 9 of 2026 published on January 13th. The financial maneuver, authorized by Finance Minister Davendranath Tancoo who signed the document on January 12th, represents a significant move in the country’s sovereign debt strategy.

    The issuance will involve notes offered exclusively to qualified institutional buyers across global markets, including both international and United States-based investors. To facilitate this substantial transaction, the government has engaged two of Wall Street’s most prominent financial institutions: JP Morgan Securities LLC and Bank of America Securities Inc. These firms have been appointed as joint lead managers and arrangers, responsible for structuring and marketing the debt offering.

    The transaction is being executed under Section Six of Trinidad and Tobago’s External Loans Act, which grants the Finance Minister authority to provide specific tax exemptions. Notably, the order exempts all payments related to principal, interest, and associated debt charges from both taxation and exchange control restrictions. This provision enhances the attractiveness of the notes to international investors by ensuring streamlined cross-border payments and maximizing returns.

    This strategic financial initiative demonstrates Trinidad and Tobago’s proactive approach to accessing global capital markets while implementing measures to optimize the terms of its sovereign borrowing. The involvement of major international financial institutions underscores the credibility of the offering in the global financial community.

  • AMCHAMDR welcomes U.S. House approval of HOPE/HELP extension for Haiti

    AMCHAMDR welcomes U.S. House approval of HOPE/HELP extension for Haiti

    In a significant move for Caribbean economic relations, the United States House of Representatives has decisively passed legislation to extend a key trade preference program for Haiti. The American Chamber of Commerce in the Dominican Republic (AMCHAMDR) has formally welcomed this development, which saw the HOPE/HELP program renewal approved with robust bipartisan consensus in a 340-54 vote.

    This legislative action provides a vital three-year extension to the tariff benefit initiative, a cornerstone for regional commerce and economic security. AMCHAMDR emphasized that the continuity afforded by this decision is paramount for the island’s textile and apparel supply chain. This sector is heavily dependent on such trade preferences to maintain its competitive edge in the global market and to safeguard existing employment.

    Beyond immediate industrial benefits, the extension is projected to serve as a catalyst for much-needed investment and broader economic development within Haiti. Such progress is anticipated to generate positive spillover effects, enhancing overall regional stability and concurrently benefiting the Dominican Republic’s commercial and productive sectors by fostering a more integrated and prosperous neighborhood.

    The approved measure now advances to the U.S. Senate for its review and subsequent deliberation. Upon successful passage through the Senate, it will require final enactment into law by the President. AMCHAMDR has reaffirmed its dedicated commitment to vigilantly monitoring the ongoing legislative process. The chamber pledges to collaborate with both public institutions and private sector partners to advocate for policies that fortify trade relations between the Dominican Republic, Haiti, and the United States, ultimately promoting greater competitiveness, deeper regional integration, and sustainable economic expansion.

  • Speednet–BTL Deal Highlights Concerns Over Trust Funds and Transparency

    Speednet–BTL Deal Highlights Concerns Over Trust Funds and Transparency

    A proposed BZ$80 million acquisition of Speednet Communications Limited by Belize Telemedia Limited (BTL) has ignited significant concerns regarding financial transparency and the potential diversion of funds from public benefit. The transaction structure, featuring substantial deferred payments through loan notes, has drawn scrutiny from analysts who fear historical financial loopholes may be exploited once again.

    According to official documentation, the Waterloo Group Charitable Trust maintains a 77.5% ownership stake in Speednet, with Jaime Briceño and Renan Briceño holding the remaining shares. Lord Ashcroft’s office has explicitly stated he retains no economic interest in the Trust, which claims charitable purposes benefiting Belizean citizens.

    The acquisition arrangement specifies that BTL would disburse BZ$10 million in immediate cash payment, while the substantial balance of BZ$70 million would be settled through loan notes issued across a four-year period, carrying a 4.5% interest rate. While proponents emphasize operational synergies, enhanced efficiency, and improved competitive positioning against international providers like Starlink, critical attention has focused on the financial mechanics.

    This scrutiny stems from the 2015 Settlement Agreement between the Government of Belize and Ashcroft-affiliated entities, subsequently reviewed by the Caribbean Court of Justice (CCJ). Judicial examinations revealed that the settlement permitted significant reductions in compensation destined for Belize through broadly interpreted ‘liabilities’—encompassing not merely legal expenses but also internal corporate lending and financing costs.

    The CCJ determined that the agreement’s wording enabled Ashcroft-controlled entities to claim substantial expenses against funds originally intended for national benefit, with the government retaining no veto power over liability calculations. Financial analysts now warn that the Speednet sale could establish similar conditions for expense deductions, particularly given the loan note payment structure that creates extended financial flows between BTL and the Trust.

    Critics identify persistent vulnerabilities including intentionally vague financial terminology, inadequate oversight mechanisms, and structural incentives to maximize claimed costs. These concerns carry particular significance given BTL’s status as a major public utility and telecommunications provider.

    Regulatory responsibility for monitoring the transaction’s execution falls primarily to the Public Utilities Commission, which will oversee pricing and service quality considerations. However, transparency advocates argue that without enhanced safeguards and financial oversight, Belize risks repeating scenarios where substantial sums pass through complex corporate structures while delivering minimal public benefit.

  • North-West gets another ferry; Parika-Bartica to get more vessels

    North-West gets another ferry; Parika-Bartica to get more vessels

    The Government of Guyana has significantly enhanced its national maritime infrastructure with the acquisition of a state-of-the-art ferry, marking a strategic advancement in regional connectivity and transport modernization. The newly arrived vessel, currently named Kalliopi N, represents a multimillion-dollar investment in Guyana’s transportation ecosystem.

    Constructed in Greece in 2025 and procured for approximately US$4 million, the Kalliopi N underwent comprehensive modifications to meet stringent international maritime standards prior to its departure. These enhancements included structural reinforcements to fuel capacity, rigorous testing of ballast tanks and bulkheads, and the installation of redundant navigation and communication systems to ensure maximum safety during ocean transit.

    With an operational capacity of 284 passengers and 51 vehicles (or equivalent truck space), the vessel features air-conditioned accommodations and is powered by three Hyundai engines supported by dual generators. Operating at speeds of 10-12 knots, the ferry is projected to substantially reduce travel duration along coastal routes serving Region One (Barima-Waini) and connecting ports.

    President Irfaan Ali, during an inspection tour at Georgetown Wharf, emphasized that this acquisition forms part of a systematic fleet renewal strategy designed to progressively replace aging vessels across all regions. The presidential delegation, including Minister Deodat Indar, MARAD Director General Captain Stephen Thomas, and Parliament Member Thandi McAllister, examined the vessel’s technical specifications and operational readiness.

    Concurrently, the administration revealed parallel plans to strengthen the Parika-Bartica corridor in Region Seven through additional vessel acquisitions. This expansion aims to augment capacity along the critical Parika-Supenaam-Bartica circuit, facilitating improved movement of both passengers and commercial goods throughout the Essequibo corridor.

    The modernization initiative extends beyond vessel procurement to include comprehensive port infrastructure upgrades at key locations including Region One, Kingston, and Parika. These developments are engineered to accommodate front-loading vessels and integrate with the broader transport network.

    President Ali commended the coordinated efforts of maritime professionals, technical teams, and regulatory authorities whose synergistic work ensured the vessel’s compliant delivery. The administration’s sustained investment in maritime infrastructure demonstrates its commitment to building a modern, efficient transport network that supports economic vitality, enhances regional connectivity, and improves quality of life for citizens across all regions.

  • Wereldbank verhoogt groeiverwachting 2026, waarschuwt voor ongelijkheid

    Wereldbank verhoogt groeiverwachting 2026, waarschuwt voor ongelijkheid

    The World Bank has issued a cautiously optimistic yet concerning assessment of global economic prospects in its latest Global Economic Prospects report, published Tuesday. While upgrading its 2026 global growth forecast to 2.6%—a 0.2 percentage point increase from June’s projection—the institution simultaneously warned of significant headwinds including cooling international trade and widening disparities in living standards across nations.

    This modest upward revision still represents a slowdown from 2025’s 2.7% growth rate, continuing what the Bank describes as potentially “the weakest decade for global economic growth since the 1960s.” The report acknowledges unexpected economic resilience throughout the past year despite what it characterizes as “historic escalation of trade tensions and policy uncertainty.”

    Much of this uncertainty stemmed from the return of U.S. President Donald Trump to power last year and his administration’s implementation of broad import tariffs against major American trading partners. These measures significantly disrupted international supply chains and amplified volatility across global markets.

    The economy’s relative resilience was attributed partially to accelerated goods imports by U.S. companies stockpiling ahead of anticipated tariffs, alongside surging investments in artificial intelligence technologies that provided substantial economic stimulus.

    Looking ahead, the World Bank anticipates noticeable deceleration in global trade growth throughout 2026 as businesses complete inventory replenishment and the full effects of new trade restrictions become more pronounced. A tentative recovery in trade expansion isn’t expected until 2027, when nations presumably adapt to the new policy environment and uncertainty diminishes.

    Perhaps most alarmingly, the report highlights growing disparities in living standards between countries despite moderate overall growth. World Bank Chief Economist Indermit Gill warned that the global economy faces slower growth in coming years than even during the economically troubled 1990s, while simultaneously confronting record levels of both public and private debt.

    To avert prolonged stagnation and rising unemployment, Gill advocates for comprehensive policy measures including robust liberalization of private investments and trade, curtailment of government consumption growth, and substantial investments in emerging technologies and education systems across both emerging and developed economies.

  • IDB predicts higher food import prices, increased forex demand, but “robust” economy

    IDB predicts higher food import prices, increased forex demand, but “robust” economy

    The Inter-American Development Bank (IDB) has presented a complex economic outlook for Guyana, forecasting simultaneous challenges and strengths in its latest Caribbean Economics Quarterly. While the South American nation’s economy remains fundamentally robust with expected growth averaging 14% between 2026-2030, several headwinds threaten to create economic pressures.

    The analysis identifies falling global oil prices—projected to reach approximately US$60 per barrel in 2026—as a dual-edged development. While lower prices typically reduce petroleum revenues, Guyana anticipates offsetting this through expanded production capacity. Three additional oil wells are expected to come online, potentially doubling current output to 1.5 million barrels daily by 2029.

    Concerning developments emerge in the trade sector, where Guyana’s terms of trade have deteriorated significantly. According to IMF data referenced by the IDB, the terms of trade index declined by 32.4% in 2023 and 0.3% in 2024, stabilizing at 47% by September 2025. This decline stems from persistent increases in import prices coupled with contracting oil prices.

    The bank warns that ongoing global tariff wars and policy uncertainty could further elevate import costs, particularly for food items. With annual food prices already rising 8.2% by August 2025, inflation is projected to reach 3.6%, exceeding the previous year’s 2.9% rate. These factors may increase foreign exchange demand and complicate monetary policy management.

    Despite these challenges, the IDB notes Guyana’s oil sector remains profitable above US$28 per barrel—the country’s break-even price. The government has implemented strategic responses including free tertiary education, vocational training programs, and initiatives to encourage re-migration of skilled professionals like teachers and nurses to address human capital needs.

    The report concludes that while Guyana’s medium-term economic trajectory appears strong, vigilant monitoring of potential Dutch Disease symptoms—including exchange rate appreciation, non-oil sector competitiveness erosion, and inflationary pressures—remains essential for sustainable development.

  • Unions Push Back on BTL-Speednet Merger

    Unions Push Back on BTL-Speednet Merger

    BELIZE CITY – A proposed consolidation between Belize Telemedia Limited (BTL) and Speednet has triggered significant labor unrest, with national trade unions conducting emergency consultations throughout Wednesday. The telecommunications merger, which would see BTL acquire its competitor Speednet, has raised substantial concerns among workforce representatives regarding employment stability and worker protections.

    The National Trade Union Congress of Belize (NTUCB) convened a critical meeting Wednesday evening following day-long deliberations among member organizations. This gathering followed a postponement from the originally scheduled Tuesday night virtual meeting, allowing additional time for internal consultations within affiliated unions.

    In a significant development, the Belize Communications Workers Union engaged in extensive direct negotiations with BTL management earlier Wednesday. The day-long discussions focused specifically on potential impacts for BTL employees should the acquisition proceed. Union representatives have maintained a media blackout pending the NTUCB’s consolidated position.

    According to sources within the labor movement, the four social partner senators are expected to participate in the high-stakes negotiations. Tensions remain elevated as union leadership has indicated readiness to escalate their response if worker concerns are not satisfactorily addressed during these critical discussions.

    The outcome of these negotiations could significantly reshape Belize’s telecommunications landscape and establish important precedents for future corporate consolidations within the country’s key infrastructure sectors.

  • Massive Credit Card Scam Alleged in Belize’s BPO Sector

    Massive Credit Card Scam Alleged in Belize’s BPO Sector

    Belize’s rapidly expanding Business Process Outsourcing (BPO) sector is confronting a severe credibility crisis as evidence emerges of widespread credit card fraud allegedly perpetrated by industry employees. The scandal, brought to light by prominent Belize City entrepreneur Lee Mark Chang, reveals hundreds of fraudulent transactions and mounting chargebacks that threaten the integrity of one of the nation’s most vital economic sectors.

    Chang, owner of Chon Saan Palace restaurant, has documented over 400 chargebacks from online orders directly linked to BPO workers. Financial institutions have reversed these debit and credit card transactions citing clear evidence of fraudulent activity. The pattern reveals sophisticated manipulation of security protocols, including photographing identification documents to bypass verification systems.

    Disturbing evidence shows consistent patterns of abuse: a single U.S. credit card under the name ‘Justice’ was utilized more than a dozen times by different individuals at various addresses within the same geographic area. In one documented case from March 2024, a $79 order used a U.S. card belonging to ‘Jackson’ while the customer identification showed the name ‘Pell’.

    The timing of this revelation poses significant challenges for Belize’s economy. The BPO sector has generated approximately 20,000 jobs to date, providing compensation substantially above minimum wage levels and serving as a crucial employment source for young professionals. This growth now faces potential disruption due to security vulnerabilities and inadequate legal frameworks.

    Chang has filed multiple reports with Belizean law enforcement agencies, but authorities acknowledge their limited capacity to prosecute such cases under current legislation. The businessman is now advocating for urgent legal reforms that would impose stricter penalties for financial fraud and enhance consumer protection mechanisms.

    The emerging scandal highlights critical gaps in Belize’s financial security infrastructure and raises questions about sustainable oversight mechanisms for the country’s fastest-growing industry. As the BPO sector continues to drive economic expansion, these allegations underscore the pressing need for strengthened regulatory frameworks and enhanced fraud prevention protocols.