For nearly three years starting in May 2023, the Dominican Republic’s Consumer Price Index (CPI) has consistently held above the Central Bank’s official target range of 3% to 5%. In its latest monthly economic report released this week, the monetary authority confirmed that annual inflation measured from April 2025 to April 2026 reached 5.11% — a modest overshoot of the target’s upper bound, a result directly tied to broad-based instability across global commodity markets. On a monthly basis alone, the CPI rose by 0.49% in April 2026, with the bulk of this increase traced to upward price adjustments for regular gasoline, premium gasoline, and diesel. These domestic fuel price shifts follow rising crude oil costs on international exchanges, which have been amplified by ongoing geopolitical tensions in the Middle East, the Central Bank explained. The report also unpacked offsetting factors that kept monthly inflation from climbing higher than the recorded 0.49%. A modest -0.07% deflation in the Food and Non-Alcoholic Beverages group, paired with the recent appreciation of the Dominican peso against the U.S. dollar, acted as key counterweights to energy-driven price gains. The stronger local currency has pulled down prices for imported goods including automobiles, while also reducing costs for air travel and several products and services in the communications sector, the institution noted. Digging into food price trends specifically, the Central Bank highlighted that large declines were recorded for two high-consumption staples: fresh chicken and all varieties of plantain. Both goods saw dramatic price spikes in previous months after extreme weather events disrupted domestic agricultural production, so the current price pullback represents a partial correction of that earlier volatility. At the same time, a range of other food products posted notable price increases in April, including coffee, purified water, carbonated soft drinks, avocados, chili peppers, cod, oranges, cassava, limes, and tomatoes. Encouragingly, core inflation — a closely watched metric that strips out volatile, policy-insensitive price components — remained firmly within the official target range last month. Core monthly inflation clocked in at 0.43% in April, pushing the 12-month core inflation rate to 4.87%, which falls comfortably between the 3% and 5% target band. The Central Bank emphasized that core inflation provides a more reliable signal for guiding monetary policy decisions, as it excludes items whose prices are not driven by broader economic liquidity conditions. This includes highly volatile food goods, fossil fuels, price-regulated services such as electricity rates and public transportation, as well as alcohol and tobacco products. A breakdown of monthly CPI shifts by expenditure groups shows that six categories drove the overall April inflation result: Transportation, Miscellaneous Goods and Services, Restaurants and Hotels, Recreation and Culture, Housing, and Health. Three key groups — Food and Non-Alcoholic Beverages, Communications, and Clothing — actually recorded negative monthly price changes, which softened the overall inflation reading for the month. The Transportation group alone posted a 1.78% monthly inflation rate, making it far and away the largest single contributor to April’s overall CPI gain, accounting for 61.94% of the total monthly increase. As noted earlier, this surge is primarily the result of government-approved adjustments to domestic fuel prices. Additional upward pressure came from price hikes for private intercity bus fares and motorcycle taxi services, though the group’s overall increase was partially offset by seasonal price drops for air travel and new motor vehicles. When sorted by household socioeconomic status, inflation rates varied noticeably across income quintiles in April. The lowest-income group (quintile 1) recorded a 0.36% monthly inflation rate, followed by 0.40% for quintile 2, 0.47% for quintile 3, 0.52% for quintile 4, and 0.65% for the highest-income quintile (quintile 5). The Central Bank attributes the steeper inflation faced by highest-income households to two key factors: this group sees smaller benefit from falling food prices, and feels a larger impact from the price increases that drove April’s overall inflation. The report reinforces that while headline inflation has edged slightly above target due to external geopolitical and commodity market pressures, underlying inflation trends remain anchored within the central bank’s desired range, providing a stable foundation for ongoing monetary policy management.
分类： business
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Treasure this
For years, travelers have associated the name Treasure Beach with a quiet, scenic collection of fishing villages along Jamaica’s untouched southern coast. But that is no longer the only spot holding that iconic moniker, as a new luxury resort destination by the same name has officially debuted in the Turks and Caicos Islands, becoming the latest standout addition to the Beaches Turks and Caicos resort portfolio. Nestled on a stunning stretch of coastline that locals have cherished for decades under the Treasure Beach name, the new resort village caters explicitly to the fast-growing trend of multigenerational family travel, offering guests high-end oceanfront accommodations complete with private pools, private rooftop viewing decks, and sprawling family-friendly suites designed to accommodate large groups.
The official launch celebration kicked off last Thursday with a Regatta Golden Hour welcome event, a nod to longstanding maritime traditions shared by the Turks and Caicos Islands and neighboring The Bahamas. More than 500 invited guests gathered for the weekend festivities, including top travel advisors, local and regional government leaders, tourism authority officials, A-list celebrities, and early vacation guests eager to preview the new property. Deryk Meany, general manager of both Treasure Beach Village and Beaches Turks and Caicos, delivered an energetic opening address to welcome attendees to the one-of-a-kind new destination.
The weekend of celebration reached its climax on Saturday night with a high-energy Treasure Beach Village Bash, which featured Jamaica’s Prime Minister Dr. Andrew Holness as a special guest of honor. Adam Stewart, Executive Chairman of Sandals Resorts International, which owns the Beaches brand, hosted the official opening ceremony marking the completion of the $50-million development. The property first welcomed guests during a soft opening phase back in March 2024, and its official launch now signals the start of a major new growth push for the brand’s Beaches 2.0 initiative.
Under Beaches 2.0, Sandals Resorts International plans to invest an estimated $1-billion to expand the Beaches footprint across the Caribbean, with new planned destinations in Exuma, The Bahamas, as well as additional sites in Jamaica, Barbados, and St. Vincent and the Grenadines. The launch of Treasure Beach Village marks the first major milestone in this ambitious regional expansion strategy, which aims to meet rising demand for luxury family-friendly vacation experiences across the Caribbean’s most coveted coastal locations. Industry insiders note that the new development and broader expansion plan signal the brand’s confidence in a continuing post-pandemic boom in Caribbean travel, particularly among multi-generational groups seeking custom, spacious accommodations.
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Salt+Sand freshens up Negril’s 7-mile beach
Nestled along Jamaica’s world-famous Negril Seven-Mile Beach, a piece of local vacation history is undergoing a dramatic rebirth as a new boutique beachfront development that balances modern luxury with authentic Jamaican culture. Spearheaded by Canadian investment and redevelopment collective Salt+Sand, the Salt+Sand Deh Yah project will convert the long-vacant former resort site into 22 high-end condo-hotels, with construction on track to wrap by the end of 2025.
The prime beachfront parcel carries decades of legacy as a go-to spot for low-stress Jamaican getaways. First developed as the three-star Sea Splash Resort, it gained widespread acclaim for its on-site eatery Norma’s, which drew visitors from across the island with its signature local cuisine. After original owner Patrick Lawe sold the property, it reopened as the VickiTini Beach Resort, which operated until permanently closing its doors in July 2025. For the Salt+Sand leadership team—led by 28-year-old Canadian real estate investor Sutton McKay, alongside co-founders Lena Langille and Negril-based veteran realtor Maura Watson—the vacant property represented far more than a typical real estate acquisition.
The team had been in negotiations with the property’s sellers since 2024, and when the site became available full-time, they jumped at the chance to revitalize the space without erasing its unique cultural identity. “We’ve been in talks with the sellers since 2024. When the property sat vacant, we saw a huge opportunity — not just to purchase a beachfront asset, but to bring it back to life and optimise it to its full potential. We didn’t want to erase the soul of the property; we wanted to modernise it while still staying true to the authentic Jamaican energy and culture that makes Negril so special,” McKay told Jamaica Observer’s Real Estate on the Rock.
Watson, who has built an extensive portfolio of Negril-based properties and calls the town home, explained the meaning behind the project’s distinctive name, which reflects the team’s commitment to embracing local culture. “Jamaica is more than a place — it’s a feeling. The people, the food, the music, the laid-back lifestyle, and the culture are what made all of us fall in love with Negril in the first place. That’s why we named the property Salt+Sand Deh Yah,” she said. “‘Deh Yah’ in Jamaican Patois means ‘I’m here’ and, for us, it represents being present, slowing down, and truly experiencing the vibe and culture of Negril. Our goal is for every investor and future guest to feel the same connection to Jamaica and Negril that we do: peace, love, and reggae music.”
Langille, who brings extensive Canadian real estate experience from Nova Scotia to the project, oversees branding, marketing, design, and redevelopment strategy for the team. She noted that early buyer interest has already exceeded expectations, with roughly half of all units sold within the first two weeks of listing earlier this year. Units officially went on the market between late January and early February 2025, priced from $249,000 to $550,000 USD. The strong early sales, Langille added, reflect growing global investor confidence in Jamaica’s booming tourism economy. “As a team, we saw a tremendous amount of opportunity in Jamaica. We genuinely love real estate, design, hospitality, and working with investors who also see long-term opportunity and potential. We’ve also been incredibly impressed with the strength of Jamaica’s tourism economy and the level of interest from foreign investors — selling approximately 50 per cent of the project within the first two weeks alone,” she said. Beyond the current development, Langille confirmed that Salt+Sand is positioned as a growing hospitality and investment brand, with additional Jamaican projects already in early exploration.
Unlike the site’s previous iteration as a traditional full-service resort, Salt+Sand Deh Yah will operate under a flexible condo-hotel model that benefits private unit owners. When owners are not using their personal beachfront retreat, they can generate rental income by making the space available to short-term guests. Local luxury hospitality firm South Coast Villas will handle all property management, short-term rental operations, and concierge services for owners who choose this option. The original 20 units from the former VickiTini resort will be expanded by two additional condos to reach the final count of 22, with three unit tiers available: 240-square-foot standard units, 450-square-foot deluxe units that include private balcony space, and 700-square-foot loft suites.
The $18.1 million USD total redevelopment investment is split between equity and financing, with a phased renovation plan designed to deliver a strong long-term foundation for the property. The first round of upgrades focuses entirely on critical infrastructure and operational improvements, including brand-new plumbing lines, full solar panel installation, a modern backup generator system, and a sub-metered RUBS utility allocation system that fairly splits utility costs between owners based on unit size and occupancy. The second major construction phase is scheduled to kick off in mid-June 2025, and will focus on cosmetic and guest-focused lifestyle upgrades. This phase includes exterior repainting and refinishing, new perimeter fencing, updated tile work, pool refurbishment, new furnishings across all units, a full upgrade of the property’s bar and restaurant spaces, and the addition of a new wellness and fitness area. The team will also rebuild the original lobby, gift shop and excursion area—originally converted to storage under previous ownership—upgrade landscaping and common areas, and reconfigure underused space to accommodate the two additional condo units.
To avoid common construction delays that often plague coastal developments, the team has implemented multiple contingency plans. All core materials are sourced locally to eliminate shipping hold-ups, and key materials have already been ordered ahead of the mid-June construction start. A pre-vetted local contractor will lead on-site construction management, with pre-approved backup contractors and subcontractors on call if needed. After months of pre-planning, the team will also use dedicated project tracking software to stay on schedule and on budget.
Addressing common buyer concerns about regional infrastructure challenges, including periodic water shortages and power outages that impact many growing Jamaican tourism destinations, the Salt+Sand team has proactively upgraded on-site systems to boost self-sufficiency. Large backup water tanks are already in place to guarantee continuous water access, the new backup generator will ensure reliable power, and the expanded solar installation will allow the property to operate independently when regional utility service is interrupted.
The project’s pre-existing strata zoning—granted in the 1990s—has been a major draw for international buyers, as it streamlines the legal ownership process and adds a layer of transparency that is rare for beachfront properties in the region. With extremely limited availability of titled beachfront condos on Seven-Mile Beach, remaining unsold units are expected to see a 15-20% price increase following the completion of renovations at the end of the year. Beyond the valuable zoning and prime location, buyers have also responded strongly to the project’s core mission: honoring Negril’s iconic laid-back, authentic vibe while adding modern upgrades that make relaxation easier than ever. For the Salt+Sand team, the development is perfectly positioned to grow alongside Negril’s rapid tourism evolution, delivering strong long-term returns for investors while giving guests and owners the iconic Jamaican beach experience they seek.
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ECCB Holds Regional Attorneys General and Financial Secretaries Meeting in Antigua and Barbuda
Top legal and finance leaders from all member states of the Eastern Caribbean Currency Union (ECCU) have converged on Antigua and Barbuda this week for the eighth annual joint gathering of Attorneys General, Chief Parliamentary Counsel, and Financial Secretaries.
Hosted by the Eastern Caribbean Central Bank (ECCB), the two-day policy conference ran from May 14 to 15, centered on advancing coordinated legislative and financial industry reforms across the entire Eastern Caribbean region. Throughout the meeting, delegates delved into a wide range of priority policy initiatives designed to reinforce financial governance and oversight across the currency union. These included draft updates to regional insurance and pension regulations, new licensing frameworks for digital and traditional payment systems, updated data protection governance standards, and enhanced cross-border crisis management protocols to mitigate systemic financial risk.
In addition to general regional policy discussions, the meeting featured dedicated presentations on country-specific and institution-focused modernization projects. Attendees were briefed on Grenada’s upcoming Cooperative Societies Bill, which aims to update regulation of the island’s cooperative sector, as well as Saint Vincent and the Grenadines’ progress rolling out its new Single Window for Land and Property Transactions, a digital initiative designed to cut red tape and speed up real estate processing across the country. Delegates also reviewed proposed legislative changes to update the Eastern Caribbean Home Mortgage Bank (ECHMB), centered on a new draft agreement that would formalize changes to ECHMB’s capital structure to support its modernization and expansion.
Per statements from the ECCB, this week’s gathering is a core component of the central bank’s long-term strategic agenda laid out in its 2026-2031 Strategic Plan, which identifies strengthening regional regulatory and supervisory systems as a key priority to support sustained financial stability and economic growth across the ECCU. The annual cross-sector meeting has long been one of the ECCB’s flagship collaborative events, creating a structured space for regional legal leaders and financial regulators to align on shared legislative priorities that shape the future of the Eastern Caribbean’s financial sector.
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ABWU Officials Attend Caribbean Travel Marketplace 2026
On Thursday, top leadership from the Antigua and Barbuda Workers’ Union (ABWU) marked a notable appearance at the 2026 iteration of the Caribbean Travel Marketplace, one of the Caribbean’s most high-profile and industry-defining annual tourism gatherings. David Massiah, ABWU’s General Secretary, joined by Deputy General Senator Chester Hughes, toured the event’s proceedings and engaged with cross-sector stakeholders gathered for the landmark conference.
Hosted to catalyze collaboration, investment, and innovation across the Caribbean’s tourism ecosystem, the 2026 Marketplace drew over 500 attendees spanning international tourism buyers, global media outlets, industry operators, and regional stakeholders from every corner of the travel and hospitality sector. The event has long cemented its reputation as the premier business gathering for tourism leaders across the Caribbean, setting the agenda for growth and development in the sector for the coming years.
As the primary labor representative for the majority of hotel employees across Antigua and Barbuda, the ABWU used its attendance at the event to reaffirm its open stance toward initiatives that advance the quality of the nation’s tourism offerings. Critically, the union emphasized that any progress in the sector must go hand in hand with tangible improvements to working conditions and quality of life for the frontline workers that power the industry.
Union leadership also issued formal praise for organizers and participating stakeholders who pulled off the large-scale regional gathering. In their remarks, ABWU leadership reiterated the non-negotiable role tourism plays as a foundational pillar of Antigua and Barbuda’s national economy, noting that the sector remains the single largest source of steady employment for hundreds of local workers across the two-island nation. The event’s hosting, union leaders added, represents a positive step forward for positioning Antigua and Barbuda as a top global travel destination, while also creating space to address the needs of the workforce that underpins that success.
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80 Years Later: HRCU Thrives on Loyalty of Longtime and New Members
It is not every small financial cooperative that can claim eight decades of steady growth, community trust, and transformative impact on the lives of generations of members. But for Belize’s iconic Holy Redeemer Credit Union (HRCU), that milestone is not just a historical footnote—it is a living, breathing legacy celebrated this May 2026 alongside the thousands of member-owners who built the institution from its humble origins.
The story of HRCU begins with a humble start that few could have predicted would grow into one of Belize’s most enduring member-owned financial institutions. Eighty-two years ago, Catholic Father Suti worked for months to lay the groundwork for the credit union before three local women—June Bolton, Carmen Canton, and Hazel Anderson—stepped forward to launch the initiative. Together, they opened the cooperative with just 75 cents in starting capital, laying the first brick of what would become a cornerstone of Belizean community finance.
Eight decades on, that tiny founding group has swelled to more than 65,000 active member-owners, spanning generations of Belizeans who turn to HRCU for everything from their first childhood savings accounts to mortgages for family homes and startup capital for local business ventures. For long-time members like Corine Robinson-Fuller, who joined the credit union back in 1980, the loyalty that keeps HRCU at the center of so many Belizeans’ financial lives comes down to one simple factor: consistent, member-first service. “I stayed because the service to me as a member is phenomenal,” Robinson-Fuller explained in an interview at HRCU’s Belize City headquarters. She pointed to the annual dividend payouts that reward member ownership, and the accessible lending that allowed her to build a home for her mother as just two examples of the cooperative’s outsized positive impact. “Getting a loan here was easy for me, when I built my mom’s house… that was a very good experience.”
To mark 82 years of service and thank the member-owners that drive its mission, HRCU decked out all three of its nationwide branches in celebratory decorations, distributed complimentary goodies to visitors, and held grocery basket raffles as a small gesture of appreciation for the community. Frontline staff spent the day greeting members, echoing the cooperative’s core philosophy that members are the heart of the institution. “After all, the member owners are our bosses and they are the ones that have us here. So, without them we would not have been here eighty-two years later,” explained Nigel Alvarado, HRCU’s Compliance Officer. Alejandra Velasquez, a Finance Officer at the credit union, added that working for an institution trusted by generations of members is a point of deep professional pride. “I feel really good. I feel really honored because I know we have done a great job serving them. And like they say, the customer service is always on point, so I am happy to hear that.”
Mark Menzies, HRCU’s Human Resource Manager, emphasized that the cooperative’s headquarters is far more than a branch with teller lines and deposit counters—it is a space where personal financial goals become reality, and lives are changed for the better. “We have a lot of stalwarts who love this credit union and so we at the helm have to do everything right and take care of our member owners,” Menzies said. “They are very important to us.”
For many members, the cooperative’s democratic structure keeps that focus on member needs front and center. As Robinson-Fuller noted, “At every AGM you will be reminded that you are an owner. And when you see the progress made you realize that you are a part of it.” Looking ahead, HRCU has scheduled its 2026 Annual General Meeting for May 30 to continue that transparent, member-led tradition. Reporting for Belize’s News Five from HRCU’s Belize City headquarters, Paul Lopez delivered this on-the-ground account of the 82nd anniversary celebration.
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Staatsolie boekt sterke resultaten en draagt US$ 400 miljoen af
On May 15, 2026, the Annual General Meeting of Shareholders (AGM) of Staatsolie Maatschappij Suriname N.V., Suriname’s national oil and gas corporation, formally approved the company’s 2025 annual financial statements, capping off a year of solid operational performance and strategic progress for the energy giant that remains a cornerstone of the Surinamese national economy. The meeting was attended by high-level Surinamese officials including President Jennifer Geerlings-Simons and multiple cabinet ministers, where company leadership presented both the verified 2025 results and long-term growth projections for the coming years.
In 2025, Staatsolie, together with its two subsidiaries — Staatsolie Power Company Suriname N.V. (SPCS) and GOw2 — generated a total combined revenue of $832 million, with pre-tax profits reaching $444 million. The company transferred a total of $400 million to the Surinamese state in 2025, through a mix of tax payments, shareholder dividends, and royalty revenues from its gold mining participation stakes. This single contribution accounts for approximately 30% of the Surinamese government’s total annual public revenue, reinforcing the company’s status as the central pillar of the country’s economic foundation.
Operational data for 2025 shows that Staatsolie maintained consistent onshore oil output, even amid natural reservoir decline that challenges long-term production stability. Total onshore production hit 6.35 million barrels, staying nearly flat from 2024 levels and exceeding the annual production target of 6 million barrels, a result of targeted technical upgrades and optimized operational efficiency. The company’s refinery produced 3.15 million barrels of combined diesel and gasoline, and 2025 marked the launch of commercial sulfuric acid production, adding a new product stream to the refinery’s output.
On the energy front, SPCS, Staatsolie’s power subsidiary, generated 1.46 million MWh of electricity through a mix of hydropower and thermal generation. This output meets 69% of total electricity demand across Paramaribo and the surrounding districts connected to the EPAR power grid, delivering reliable, affordable energy to the region. Revenues from the company’s gold mining holdings also helped offset downward pressure from weaker global crude oil prices in 2025, keeping overall financial performance steady.
The past year also saw meaningful progress on Staatsolie’s high-stakes offshore energy development projects, which are set to transform Suriname’s energy sector in the coming years. Development work on the GranMorgu offshore oil field, located in Block 58, moved forward on schedule, with first oil production still targeted for 2028. Construction of the field’s floating production, storage, and offloading (FPSO) unit, currently underway at shipyards in China and Malaysia, is now roughly 50% complete, and all other project pre-development activities are proceeding according to the agreed timeline.
In a separate milestone, the Sloanea-1 natural gas field in Block 52 was formally declared commercially viable in 2025, marking a critical step forward for Suriname’s first-ever offshore natural gas project. A final investment decision on the project is expected to be approved in 2026. To fund its 20% participating stake in the GranMorgu development, Staatsolie successfully raised $516 million through bond issuances in 2025, and secured an additional $1.6 billion loan from a consortium of international and local financial institutions, locking in full funding for its share of the project.
Beyond energy and financial performance, Staatsolie expanded its community investment efforts in 2025, which marked the company’s 45th anniversary of operations. Working through its affiliated non-profit arm, the Staatsolie Foundation for Community Development, the company allocated $2.7 million to local social projects in 2025, and added an extra $3 million to fund sustainable development initiatives to mark its 45-year milestone.
Looking ahead, Staatsolie Chief Executive Officer Annand Jagesar expressed confidence in the company’s trajectory, noting: “Staatsolie delivered a strong year in 2025, marked by stable production, solid financial results, and meaningful progress on our strategic offshore projects that will power Suriname’s growth for decades to come.”
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Antigua and Barbuda Ranked Among Caribbean’s Highest OnlyFans Spenders, Report Claims
A fresh 2025 global spending analysis from independent digital analytics firm OnlyGuider has positioned the small Caribbean twin-island nation of Antigua and Barbuda as one of the region’s highest per-capita spenders on the popular subscription-based content platform OnlyFans.
According to the firm’s annual *OnlyFans Wrapped 2025* report, Antigua and Barbuda recorded an estimated $14,246 in OnlyFans spending per 10,000 residents over the 2025 calendar year. This marked a notable 14.82% upward swing from the nation’s 2024 per-capita spending levels, reflecting consistent growth in consumer engagement with the platform across the country.
Across the entire Americas region, covering both North and South America, Antigua and Barbuda secured the 11th spot in per-capita OnlyFans spending, outranking a number of far larger, more populous Latin American economies. The report also notes that several other Caribbean nations – including Barbados, Saint Kitts and Nevis, Trinidad and Tobago, and Jamaica – have recorded similarly strong population-adjusted engagement with the platform.
OnlyGuider, a specialized analytics and search platform focused exclusively on mapping OnlyFans activity, constructed its global estimates by combining multiple data sources. The firm analyzed Google search volume data, tracked web traffic patterns, evaluated user search intent, and built custom revenue models to generate projections across 188 countries and 100 major cities worldwide.
In its analysis of regional growth trends, OnlyGuider points to a handful of interconnected factors driving rising subscription spending across the Caribbean. Growing smartphone penetration, broader access to reliable online payment infrastructure, the rapid expansion of local creator culture, increased digital exposure tied to the region’s massive tourism sector, and spending patterns among Caribbean diaspora communities living abroad are all cited as key contributors to the upward trajectory.
Globally, the report estimates total OnlyFans spending hit roughly $7.2 billion in 2025, with the Americas accounting for more than half of the entire global market spend. It is important to note, however, that all spending figures included in OnlyGuider’s analysis are independent proprietary estimates, not official financial data released or verified directly by OnlyFans itself.
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Alpart reopening push
After years of stalled plans to restart operations at Jamaica’s shuttered Alpart bauxite plant, the country’s Minister of Agriculture, Fisheries and Mining Floyd Green is set to travel to China for high-stakes talks with the facility’s owner, state-owned Jiuquan Iron and Steel Company (JISCO), in a renewed push to bring the idle plant back online this year.
The Alpart plant in St Elizabeth has remained non-operational since 2019, when JISCO announced its closure to accommodate a large-scale modernization initiative. Back in 2025, Green shared public optimism that a phased restart of the facility was on the near horizon, leaving local stakeholders and industry observers waiting for tangible progress. Now, 12 months after that initial reopening projection, no firm timeline has been locked in, prompting the Jamaican government to ramp up pressure for action.
Speaking at a post-sectoral debate briefing in Kingston on Thursday, Green made clear the Jamaican government’s non-negotiable stance: the Alpart reopening process must get underway in 2026. “This plant sits on some of the largest untapped bauxite reserves in the region, and the economic vitality of not just St Elizabeth, but the entire Jamaican economy is tied to the revival of our bauxite and alumina mining sector,” Green emphasized.
Green outlined that JISCO had previously committed to three key pre-restart milestones: a full asset verification audit, renewed exploration activities across its mining concessions, and the launch of mandatory land reclamation work on already mined areas. To date, the company has fulfilled all three preconditions, but has yet to move forward with the long-promised phased reopening.
The company attributed the repeated delay to unforeseen weather-related disruptions during a December 2025 meeting with Green. The most recent setback came from Hurricane Melissa, which made landfall in Jamaica in late October 2025, causing substantial damage to the Port Kaiser infrastructure that the Alpart plant relies on for shipments. This damage came on the heels of Hurricane Beryl, which hit the island in July 2024, creating two consecutive major weather events that upended JISCO’s original cost and timeline projections. Green added that as a Chinese state-owned enterprise, JISCO operates with a centralized decision-making structure where all major strategic choices are made by leadership based in China, rather than the local on-ground team, creating additional layers of bureaucratic delay.
Back in March 2026, Green told Parliament’s Standing Finance Committee that JISCO would need to draft an entirely new development plan for the Alpart reopening, accounting for revised repair costs for Port Kaiser and new infrastructure investments to build climate resilience against future extreme weather events. On Thursday, he stressed that the window for further delays has closed, and the government is fully committed to securing a restart in 2026.
Against a backdrop of rising global aluminium prices and growing global demand for critical industrial minerals, Green said the upcoming trip to China will focus on securing a definitive timeline from JISCO’s top leadership. “We are going directly to the owners to get a clear answer on when we can expect operations to resume. Depending on the outcome of these discussions, the Jamaican government will be prepared to make whatever decisions are necessary to move this project forward,” Green said.
The minister’s delegation will not limit their discussions to the Alpart plant during the trip. They are also scheduled to hold talks with other Chinese business stakeholders with operations in Jamaica, including leadership at the Pan-Caribbean Sugar Company, as well as senior Chinese agricultural officials, with the goal of deepening bilateral cooperation across the agricultural sector.
The confirmation of the China trip came during a post-sectoral presentation press briefing at the Office of the Prime Minister in St Andrew on Thursday.
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Euro falls against the dollar amid Middle East crisis
Geopolitical gridlock in the Middle East has pulled the euro lower against the U.S. dollar, with the shared currency closing out the week down 0.35% at $1.1629 as surging crude oil prices compound market volatility. As of 3:00 PM GMT on Friday, the euro traded at $1.1629, marking a clear drop from its $1.1680 closing level recorded in the prior trading session. Official data from the European Central Bank reflected this downward shift, with the ECB’s official reference rate for the euro falling to $1.1628 from $1.1702 the day before.