Carib Scope

标签： Dominica

多米尼克

  • VAT relief extended for four months

    VAT relief extended for four months

    Facing renewed global economic uncertainty driven by shifting geopolitical tensions, the government of Dominica has approved a four-month extension of value-added tax (VAT) and import duty exemptions on 26 staple consumer goods, pushing the end date of the relief program to July 31, 2026. The announcement was made by Finance Minister Dr. Irving McIntyre during Friday’s plenary sitting of the Sixth Meeting of the Third Session of the Eleventh Parliament, as part of the government’s ongoing response to cost-of-living pressures across the island nation.

    The original VAT exemption scheme for the 26 essential goods – covering core food items, hygiene products, and household necessities – took effect on October 1, 2025, and was scheduled to expire on March 31, 2026. The expanded list of exempt goods, which includes salted herrings, codfish, multiple legume varieties, cereals, canned meats and fish, cornmeal, oats, biscuits, orange juice, tomato ketchup, toothpaste, laundry detergent, toilet paper, and sanitary napkins, was formally affirmed by parliamentary resolution in November 2025.

    When the program was first drafted, government officials designed it as a six-month buffer to offset the impact of elevated imported inflation on Dominican households and residents. While an International Monetary Fund (IMF) assessment released in recent months confirmed that regional and domestic inflation has been gradually easing, unforeseen geopolitical developments in the Middle East have triggered a sharp uptick in global crude oil prices, creating new ripple effects that threaten to raise transportation and commodity costs across small import-dependent economies like Dominica.

    Against this evolving backdrop, the Dominican government has opted to reverse its original plan to reinstate VAT on the 26 goods at the end of March. “In this circumstance, government has determined that it is necessary to extend the period of exemptions for another four months, ending on 31st of July 2026, in order to mitigate the impact of rising prices on consumers,” McIntyre told parliament. Alongside the VAT extension, the government has also extended parallel import duty exemptions for the same 26 goods over the identical four-month window, doubling down on efforts to cut overall landed costs for these essential products.

    McIntyre emphasized that the administration remains focused on prioritizing household financial wellbeing amid volatility. “To avoid hardships on our people we find ways other than through taxes to raise revenue and provide relief when required,” he said, adding an appeal to suppliers and retailers: he encouraged all businesses in the supply chain for these goods to fully pass on the cost savings generated by the exemptions to end consumers, rather than retaining the margin as extra profit.

    Prime Minister Roosevelt Skerrit reinforced the government’s commitment to supporting working and middle-class families in his remarks on the extension. “We reaffirm our commitment to stand with the people, not only in times of stability, but more importantly, in times of uncertainty,” Skerrit said. He added that the current Dominican administration, which he leads, has proven unmatched in its focus on centering public needs: “the history of Dominica will show that no government in Dominica has been more people-centered, more compassionate, more caring and more empathetic, than this government that I have the honour to lead.”

    The extension was formalized through the Value Added Tax (Schedule) (Amendment) Order 2026, which was introduced to parliament on April 10, 2026, and approved via affirmative resolution in line with the provisions of Dominica’s 2017 Value Added Tax Act. The law grants the Finance Minister authority to amend VAT exemption schedules via official gazette order, with any changes required to receive formal parliamentary approval to take effect. Following the vote on the order, parliament was adjourned Sine Die.

  • NCCU ATMS fully restored and back online

    NCCU ATMS fully restored and back online

    Operations have returned to normal at the National Co-operative Credit Union Ltd (NCCU) ATM hub located at the intersection of Independence and Cork Street, with full public access reinstated following a weekend incident investigation, the financial cooperative announced in an official public notice.

    According to the statement, site remediation and machine inspections have been fully completed. “The area has been cleaned, all machines have undergone deep cleaning and rigorous technical inspections, and experts have confirmed all units are fully operational for public use,” the notice read.

    In a move to reassure its customer base, NCCU emphasized that neither the ATM hardware at the location nor the institution’s core banking and data systems experienced any compromise or disruption during the incident that prompted the temporary closure. The cooperative closed by thanking its members for their understanding and flexibility while maintenance and checks were carried out.

    The whole process stems from an unspecified incident that unfolded at the downtown ATM location on Saturday, April 11, 2026. Immediately after the incident was reported, NCCU launched an official investigation and initiated proactive maintenance work on all machines at the site, a step the organization took to prioritize the personal and financial safety of its members.

  • STATEMENT: CARICOM Chair on special emergency C.O.H meeting to address concerns leveraged by T&T about organization’s leadership

    STATEMENT: CARICOM Chair on special emergency C.O.H meeting to address concerns leveraged by T&T about organization’s leadership

    In an extraordinary development for the Caribbean Community (CARICOM), regional heads of government convened a special emergency meeting on 10 April 2026 to address long-simmering governance concerns raised by Trinidad and Tobago, centered largely on the planned reappointment of CARICOM’s top Secretary-General. Notably, neither the Prime Minister of Trinidad and Tobago nor any official government representative from the country took part in the closed-door consultations.

    Hosted by the CARICOM Secretariat based in Greater Georgetown, Guyana, the gathering followed a contentious lead-up stemming from disputes that emerged during the bloc’s 50th Regular Conference of Heads of Government, held in St. Kitts and Nevis between 24 and 27 February 2026. In a new official release issued Saturday 11 April, the CARICOM Secretariat has clarified the full sequence of events behind the absence of Trinidad and Tobago’s leadership from the key February 2026 leadership retreat, where the Secretary-General reappointment was first approved.

    According to official correspondence records released by the bloc, all 15 CARICOM member states received full advance notification of the 50th conference’s schedule, draft agenda, and planned proceedings, including the separate closed retreat for heads of government scheduled for 26 February. All member states formally acknowledged receipt of these documents. The Prime Minister of Trinidad and Tobago departed the host island of St. Kitts on the evening of 25 February, the first full day of the conference, ahead of the retreat scheduled for the following day, which required a boat transfer to its remote venue.

    Shortly after the Prime Minister’s departure, at 10:33 PM that same evening, Trinidad and Tobago’s Foreign Minister Sean Sobers contacted the incumbent CARICOM Secretary-General via WhatsApp to ask whether he could attend the retreat in the Prime Minister’s absence. He was informed that substitution by a foreign minister was permitted under the bloc’s procedures, as had been done in past cases for other heads who could not attend. However, Sobers noted that he suffered from severe seasickness and was hesitant to make the required boat journey.

    Internal communications shared by the Secretariat show that 22 minutes after the initial call, the Secretary-General relayed this update to the CARICOM Chairman, noting that Trinidad and Tobago would likely have no representation at the retreat. Shortly after midnight on 26 February, the Secretary-General followed up with Sobers to confirm the Chairman would understand if he opted not to attend due to his seasickness. Sobers never sent a subsequent confirmation that he would attend the meeting, leaving Trinidad and Tobago unrepresented at the retreat.

    During the retreat, under the scheduled agenda item covering bloc financing and governance, heads of government debated the reappointment of the Secretary-General in the incumbent’s absence, and approved the reappointment in accordance with the terms of Article 24 of the Revised Treaty of Chaguaramas, CARICOM’s founding legal document. To uphold procedural courtesy, heads agreed to delay any public announcement of the decision to allow time to notify all absent heads of government before the news was made public. While attempts were made to reach the absent Trinidad and Tobago Prime Minister via both email and telephone, no contact was successfully made, and the Chairman ultimately connected with the country’s foreign minister to share the outcome.

    Beyond the Secretary-General reappointment, heads of government also took two other key decisions during the February retreat: they agreed to establish a special sub-committee of heads representing Barbados, Dominica, Guyana and Jamaica to conduct a full review of governance and financing frameworks for all CARICOM institutions, and they authorized the release of an official statement on the bloc’s recent meeting with United States Secretary of State Marco Rubio under the agenda item covering global geopolitical shifts.

    Following the April 10 emergency meeting, the CARICOM Secretariat has released full supporting documents including the complete timeline of official correspondence and the conference’s detailed work programme for public access via its official website. In the official statement, CARICOM leaders expressed the hope that going forward, all internal disputes within the bloc would be resolved through established internal mechanisms. The release warned that public misinformation and unproductive external statements risk undermining the decades of progress the region has made toward deepening regional integration, a process designed to deliver tangible economic and social benefits to all people across the Caribbean.

  • Portsmouth Football Academy delivers youth football festival through regional partnership

    Portsmouth Football Academy delivers youth football festival through regional partnership

    Last week, Portsmouth, Dominica played host to a dynamic cross-border youth football festival that brought together promising Under-11 and Under-13 players from Dominica and the neighboring French Caribbean territory of Guadeloupe. Organized by the Portsmouth Football Academy in formal partnership with Sport Aid Dominica and Roosevelt Skerrit Bombers FC, the one-day tournament unfolded on April 9, 2026, creating a vibrant stage for young athletes to display their talent, teamwork, and commitment to fair play.

    The successful execution of the event relied on substantial backing from a network of public and private stakeholders. Key supporters included Honorable Fenella Wenham Sheppard, local businesses Trois Piton Water, Roy Larocque, and Benji’s Multi-Trade, alongside the governing Dominica Football Association. Organizers emphasized that this collective support was instrumental in delivering a smoothly run, purpose-driven competition that advances long-term goals for regional youth football.

    In the competitive Under-13 division, Guadeloupe’s Club Sport Guadeloupe delivered an undefeated campaign to claim the division title. The team capped off their impressive run with a decisive 3-0 victory over Dominica’s Newtown JFA in the tournament final. Individual honors for the Under-13 category mirrored the club’s overall success: Djayden BÉNARD of Club Sport Guadeloupe took home Best Goalkeeper, while Zage Campbell of Newtown JFA earned Best Defender. Kylian DURIMEL of Club Sport Guadeloupe claimed dual honors as Best Midfielder and the tournament’s Most Valuable Player, and Tiago PENTIER, also of Club Sport Guadeloupe, finished as the division’s Top Scorer.

    For the Under-11 bracket, which used a round-robin competition format to give every team consistent playing time, Dominica’s Newtown JFA secured the first-place position, outperforming second-place National FA and third-place Portsmouth FA. Individual awards for the Under-11 division went to Zayne Shemiakov for Best Goalkeeper, Zurie Charles for Best Defender, and Dylon Prevost, who took home both Best Midfielder and MVP honors.

    Beyond the final rankings and individual trophies, the festival delivered far-reaching value for the region’s grassroots football ecosystem. The structured, competitive environment gave young players invaluable high-stakes match experience that cannot be replicated in routine training. Organizers also highlighted the event’s critical role in strengthening collaborative ties between Dominica and its Caribbean neighbors, noting that recurring cross-border programs like this lay the groundwork for long-term player development opportunities and reinforce the foundational structure of grassroots football across the region.

    In a closing statement following the tournament, leadership from the Portsmouth Football Academy extended gratitude to all partners, sponsors, coaches, match officials, volunteers, participating parents, and community supporters whose combined efforts made the event a success. The academy affirmed that with ongoing cooperation and sustained support from stakeholders, the Portsmouth community will continue growing its role as an emerging hub for youth football development across Dominica and the wider Caribbean.

  • COMMENTARY: Why fiction feels more honest than real life

    COMMENTARY: Why fiction feels more honest than real life

    Across decades of working as both a nonfiction writer of sharp commentary and incisive interviews and a fiction author crafting stories of entirely made-up people, I have long observed a striking, counterintuitive shift: as digital and social mediation reshapes everyday human interaction, real life has grown steadily more artificial, while fictional worlds now often feel far more genuine to audiences and readers alike.

    This gap does not stem from fiction becoming more realistic in its crafting. Instead, it arises because modern real life has pushed ordinary people to adopt unnatural, polished personas tailored to algorithmic approval and risk-free public engagement. Fictional storytelling, by contrast, preserves the raw, unvarnished human qualities that contemporary social norms increasingly sand down: clear emotional honesty, consistent core motivations, and unfiltered self-expression.

    Consider a well-crafted fictional character: a grizzled, plain-spoken “good ol’ boy” with a startlingly sharp intellect that cuts through pretense. This imagined figure feels far more authentic than the carefully curated personalities many of us encounter in daily public life. Even a deliberately drawn brute, strong as an ox and unapologetically simple, carries a coherence that many real public personas lack. In modern real life, far too many people operate under the unspoken rule that any attention is better than none, leading them to perform for attention rather than show their true selves.

    Fictional characters are written to be fully, unapologetically themselves, making them feel like the last truly unmediated humans standing. Authors strip away the meaningless noise, contradictory social posturing, and vague half-truths that clutter modern real-world interaction. Fictional characters say what they actually mean, their life arcs follow clear consequences for their choices, and every decision they make reflects their core values — a coherence real life rarely grants modern people. It is this authenticity that makes fictional characters resonate and endure: they give audiences exactly what they crave: sincerity, courage, vulnerability, clear consequence, and genuine meaning.

    In recognition of this dynamic, I created the invented island-nation of St. Tosia, a whimsical, offbeat Caribbean setting where folklore, civic tradition, and gentle social satire weave together to frame everyday life. St. Tosia is a tapestry of music, gentle mischief, mythic charm, and warm magical realism — a space that feels familiar to readers while remaining entirely its own, a refuge for unfiltered human truth.

    At its core, this shift is not a failure of real life, nor an argument that we should retreat entirely into the worlds we invent. Fiction acts as a mirror, holding up the genuine human qualities we have misplaced in our modern rush to curate and perform. The real solution is to reclaim those lost parts of ourselves that fiction reminds us we still can embody: emotional clarity, courage, radical honesty, uncurbed curiosity, and the willingness to be seen exactly as we are.

    If we fail to do this, the only truly authentic humans left will be the ones we invent. When real people become artificial works of performance, fiction is the only medium that still tells the truth. As the iconic essayist and humorist Mark Twain once put it: “The only difference between reality and fiction is that fiction needs to be more credible.”

  • NCCU investigates incident at its ATM at cork street

    NCCU investigates incident at its ATM at cork street

    The National Co-operative Credit Union Ltd (NCCU) has launched an official investigation into a fire-related incident that impacted one of its automated teller machines located on Cork Street in Roseau. In a public statement released on Saturday, April 11, 2026, the financial cooperative confirmed that the affected site around the ATM is currently undergoing deep cleaning, while critical maintenance work is being carried out on the machine itself to guarantee the ongoing safety of the institution’s members.

    In the notice, NCCU appealed to customers for understanding as its technical teams work to restore full public access to the ATM in the shortest timeframe possible. The organization also extended heartfelt gratitude to local community members who stepped in to help contain the fire before emergency services arrived, crediting their quick action with preventing more extensive damage to the site.

    NCCU closed its statement by noting that additional updates will be shared promptly with the public as new details about the incident and repair progress emerge.

  • CARICOM IMPACS: New explosives storehouse to be constructed in Dominica

    CARICOM IMPACS: New explosives storehouse to be constructed in Dominica

    At the opening of a three-day inter-agency security roundtable in Roseau, a senior Caribbean regional security official has outlined a comprehensive multi-part initiative to boost Dominica’s national firearms regulation and explosive management capabilities, with spillover benefits for the entire Caribbean region.

    Callixtus Joseph, acting Assistant Director of Policy, Strategy and Innovation at the CARICOM Implementation Agency for Crime and Security (CARICOM IMPACS), made the announcements during the conference, which ran from April 8 to 10 2026. The gathering was jointly convened by the Government of Dominica’s Ministry of National Security and Legal Affairs, the United Nations Regional Centre for Peace, Disarmament and Development in Latin America and the Caribbean (UNLIREC), and CARICOM IMPACS itself, bringing together cross-sector stakeholders to coordinate regional security action.

    Beyond the planned explosives depot, Joseph detailed a suite of targeted upgrades to Dominica’s law enforcement and firearms control infrastructure. CARICOM IMPACS is already expanding the island’s firearms ballistics testing capacity through direct on-the-ground support and new specialized equipment, he confirmed. The agency is also supplying purpose-built firearm marking tools to the Dominica Police Service, and backing the rollout of a cutting-edge digital system for firearms licensing and registration.

    Joseph stressed that the digital transformation of the licensing regime is far more than a technological upgrade: it lays the foundation for a modern, streamlined, and transparent regulatory framework that aligns with global best practices and updated national legislation. The new system will drastically improve the traceability of illegal weapons, while also simplifying administrative oversight and regulatory enforcement for local authorities.

    On the planned explosives storage facility, Joseph noted that CARICOM IMPACS is working in close partnership with the Dominican government and police service to scout and evaluate appropriate parcels of land for construction. In the near future, the agency will also roll out specialized training alongside partner organization the Mines Advisory Group (MAG), focusing on safe demolition and disposal of decommissioned weapons and unstable expired explosives.

    The security cooperation between CARICOM IMPACS and Dominica extends beyond weapons management, Joseph added. Upcoming joint maritime security operations are already in planning, designed to counter transnational illicit trafficking and strengthen border protection for the island.

    Joseph emphasized that all these combined initiatives are tailored to reinforce national-level preparedness, inter-agency coordination, and enforcement capacity. He noted that Dominican leadership and engagement in these security efforts delivers value not just for the island nation itself, but for the entire Caribbean community. Every incremental improvement to accountability, weapons tracing, record-keeping, inventory marking, storage security, criminal investigation, and enforcement bolsters the region’s collective ability to counter the threat of illicit weapons and organized crime.

    Looking ahead, Joseph confirmed that CARICOM IMPACS remains committed to ongoing collaboration with the Dominican government and all relevant stakeholders to see these initiatives through to successful completion.

  • IICA meeting with agricultural leaders of Americas highlights need for unified approach to agrifood challenges

    IICA meeting with agricultural leaders of Americas highlights need for unified approach to agrifood challenges

    Against a backdrop of escalating global geopolitical volatility and widespread market disruption, senior agricultural ministers and policy leaders from across the Americas have united to issue a urgent call for enhanced cross-regional collaboration. The goal of this coordinated push is to shore up long-unaddressed vulnerabilities in hemispheric agrifood systems, buffer against unexpected external shocks, and unlock untapped emerging development opportunities, according to an official press release from the Inter-American Institute for Cooperation on Agriculture (IICA), which convened the high-level virtual gathering.

    The summit, held during IICA Director General Muhammad Ibrahim’s official working visit to Washington, D.C., brought together a diverse cohort of stakeholders: national government agricultural delegations, U.S. federal officials, global multilateral funding bodies, private sector agricultural leaders, and policy research institutions. During his visit, Ibrahim has been actively engaging with stakeholders to co-design a shared regional agenda to strengthen hemispheric agricultural resilience.

    Central to the meeting’s discussions was a growing consensus that the current threats to food security across the region stem from deep-seated structural weaknesses, not temporary, passing market disruptions. A core priority identified by attendees is cutting over-reliance on imported agricultural inputs, particularly nitrogen-based fertilizers, nearly 80% of which are sourced from the Middle East— a supply chain that has been thrown into severe uncertainty by ongoing regional geopolitical tensions. Participants agreed that the solution lies in expanding targeted regional investment in domestic production of organic fertilizers and bio-based agricultural inputs, paired with expanded cross-border technical cooperation to advance inclusive, sustainable agricultural development across the hemisphere.

    Opening the summit, Kip Tom, Vice Chair of Rural Policy at the America First Policy Institute (AFPI), emphasized the outsized global role of the Western Hemisphere’s agricultural sector. “The Western Hemisphere is a leader in global agriculture and feeds billions of people around the world each day. Today, despite global uncertainty, we must serve as a model of strength and continental cooperation,” Tom stated. He also drew a clear connection between global food security and national stability, calling for deeper regional trade integration and market expansion, noting that IICA’s coordinating role “is more important today than ever before, so that the Americas may grow even stronger.”

    Director General Ibrahim expanded on the urgency of addressing fertilizer dependence, noting that small-scale agricultural producers, who form the backbone of food production in many regional economies, bear the brunt of supply chain disruptions. “We must reduce our dependence on fertilizer imports through alternatives that enable us to have a robust production chain. The issue of nitrogen-based fertilizers is particularly critical, given that nearly 80% of them come from the Middle East. Today, small-scale producers are facing risks and uncertainty for this very reason,” he said. Ibrahim added that IICA is uniquely positioned to drive progress through targeted investment in technological innovation, including the development of climate-resilient, high-yield improved seed varieties tailored to regional growing conditions.

    Agricultural leaders from across the hemispheric shared national perspectives and ongoing domestic efforts to build resilience, highlighting shared challenges and coordinated solutions. Zulfikar Mustapha, representing Guyana, noted that small Caribbean island nations face disproportionate exposure to global supply chain shocks tied to Middle Eastern tensions. He outlined Guyana’s ongoing initiative to build a regional fertilizer plant powered by domestic natural gas reserves to supply Caribbean nations, paired with major investments in digital smart agriculture technologies.

    Viviana Ruiz, another participating leader, underscored the deep interconnectedness of modern energy, fertilizer, and food markets. “The production costs of strategic crops are leading to a decrease in the use of inputs. However, the situation also affords an opportunity to transition towards greater sustainability and low-carbon production. Now more than ever, the region must act in unison and adopt a collective commitment,” she said.

    Mexican agricultural representative Santiago Ruy Sanchez de Orellana shared that Mexico currently imports 75% of its total fertilizer demand, and is moving rapidly to expand domestic production through state-owned energy giant PEMEX, while rolling out a national policy to support adoption of bioinputs. “Through the state-owned oil company PEMEX, we are expanding local fertilizer production. Mexico is also promoting a bioinputs policy,” he said, adding that “hemispheric cooperation makes the pursuit of food sovereignty viable while respecting each country’s priorities. Food sovereignty is not in opposition to trade and international cooperation; on the contrary, it needs it.”

    Argentine representative Agustín Tejeda warned against the trend of restrictive protectionist trade measures in response to global uncertainty, arguing that inward-looking policies would only exacerbate regional vulnerabilities. “The response from countries in our region should not be further withdrawal, but rather greater cooperation, greater efficiency, more trade, and more transparent information,” he said.

    Additional participants included delegates from leading global development institutions including the World Bank and the International Fund for Agricultural Development, alongside private sector agricultural leaders. According to the IICA press release, the group collectively “emphasized the responsibilities of the Americas in times of pressure on global food demand and expressed the need to protect small-scale producers,” who are most vulnerable to market volatility and input price shocks.

  • PM Skerrit questions $4.5M renovation of Arawak House of Culture, proposes new site

    PM Skerrit questions $4.5M renovation of Arawak House of Culture, proposes new site

    Dominica’s iconic cultural landmark, the Arawak House of Culture, has been mired in public debate over its future for years, and now Prime Minister Roosevelt Skerrit has thrown his weight behind a radical new proposal: fully relocating and rebuilding the facility from scratch rather than continuing costly repairs on the existing structure.

    The decades-old cultural hub, which long served as Dominica’s primary public theater and a core gathering space for the island’s artistic community, suffered catastrophic damage when Hurricane Maria made landfall in 2017. In the years following the storm, attempts to restore the building have drawn sharp criticism from leading arts figures, who have questioned the transparency and effectiveness of the rehabilitation process.

    Speaking at a recent press conference, Skerrit argued that pouring more funds into repairing the original building is a waste of public resources, warning that the aging structure risks becoming an endless “money pit.” “It’s an old building, there is no parking for patrons. It was built for a different period in time, and once you start touching an old building, problems will keep piling up,” he explained. The prime minister added that unforeseen issues always push rehabilitation costs far beyond initial projections, noting that contingency budgets for old building projects often end up exceeding the cost of new construction.

    A full technical review conducted by the Ministry of Public Works pegs the total cost of full rehabilitation at $4.5 million, with persistent issues ranging from outdated electrical and lighting infrastructure to widespread termite infestation throughout the building.

    Instead of sinking that sum into repairs, Skerrit is pushing for the government to acquire new land in an accessible location near Canefield or Roseau to construct a modern, purpose-built cultural facility. He outlined a vision for a new space that includes amenities long missing from the original building, such as public parking, a on-site coffee shop and dining area, and updated technical infrastructure that can accommodate modern events.

    “We have to think bigger. This thing about trying to fix an old thing doesn’t make sense,” Skerrit said, adding that a new facility could serve the Dominican people for the next 40 years, a much longer lifespan than a repaired original building could offer. The prime minister also proposed assembling a broad-based committee made up of public officials, cultural enthusiasts and community activists to gather input from all stakeholders before a final decision is made. “We need to sit down within the public service and engage other stakeholders to determine what we do: Do we, for posterity, keep the Arawak and spend $4.5 million or do we look for a new location and do something that can last us for the next 40 years?” he queried.

    Skerrit’s latest position marks a notable shift from government plans earlier this year. Back in January 2025, the administration signed an EC$113,000 contract with Caribbean Building Specialties Ltd. for waterproofing work on the building’s galvanized roof, a first step in a planned full overhaul. That work, completed earlier this year, was announced by Skerrit during an April 2025 appearance on the Creole HeartBeat Program hosted by Ambassador Leroy ‘Wadix’ Charles. At that time, the government outlined a full rehabilitation plan that included restoring the building’s external and internal structures, upgrading the stage, seating, flooring, foyer and air conditioning, and installing new sound, lighting and decorative features. The revamped facility was expected to become the primary host for major national events including Independence Day celebrations, DOMFESTA, Carnival and Emancipation observances.

  • NBD’s net profit for 2023–2024 signals strong financial performance, says chairman

    NBD’s net profit for 2023–2024 signals strong financial performance, says chairman

    At its 21st Annual General Meeting of Shareholders held Thursday at the St. Alphonsus Parish Hall in Goodwill, the National Bank of Dominica Ltd. (NBD) announced a robust financial performance for the 2023–2024 fiscal year spanning July 1, 2023, to June 30, 2024. NBD Board Chairperson Urania Williams revealed the leading Dominican financial institution recorded an 18 million Eastern Caribbean dollar net profit for the period, a result that leadership framed as a major milestone amid challenging market conditions.

    In the bank’s newly released annual report, NBD provided a full transparent accounting of its outcomes and activities delivered to its core stakeholders: shareholders, employees, customers and the local Dominican community. Williams noted that the bank built on the solid foundational growth cultivated in preceding years to advance a broad organizational transformation initiative, all while navigating an increasingly complex and highly competitive regional financial ecosystem.

    “Our strategy remained anchored in five core pillars: strengthening overall financial performance, elevating end-to-end customer experience, enhancing enterprise-wide operational excellence, deepening governance and compliance maturity, and investing in our people and organizational culture,” Williams explained during the meeting. She added that the structure of the 2023–2024 annual report is fully aligned with the institution’s annual performance plan for the fiscal year, ensuring clear connection between core strategic goals, on-the-ground execution, and stakeholder accountability across both sustained finance and market performance initiatives.

    Williams emphasized that hitting the XCD $18 million net profit target is no small achievement, crediting the strong result to the bank’s clear long-term vision, consistent disciplined execution, and its skilled, dedicated team. She noted that strategic decisions implemented in prior years created the stable foundation required for this outcome, and have positioned NBD to deliver even stronger returns in the upcoming 2024–2025 fiscal cycle.

    Key strategic initiatives that drove year-over-year revenue growth centered on expanding income from new and existing product and service lines, most notably new card-based financial offerings, including full credit card services powered by the FISERV digital platform. Williams pointed out that these expansions directly align with the bank’s core priority of diversifying revenue streams to match shifting consumer and business demands across Dominica.

    Improving overall loan portfolio asset quality remains a top organizational priority for NBD, Williams confirmed. The bank has rolled out a series of targeted measures to reduce its share of non-performing loans (NPLs), with the explicit goal of bringing the NPL ratio in line with the institution’s long-term strategic target. These actions include the sale of impaired debt portfolios to external third-party collection agencies, the launch of a standardized early delinquency notification system, and the creation of formal protocols to proactively move high-risk vulnerable accounts to the bank’s in-house Recoveries Unit for accelerated intervention.

    Williams noted that these combined efforts have reinforced NBD’s longstanding commitment to prudent, risk-aware credit management, reduced the bank’s overall credit risk exposure, and strengthened the long-term sustainability of its entire loan portfolio.

    As the largest leading financial institution in Dominica, NBD reported total consolidated assets of XCD $1.77 billion, equal to roughly USD $655.9 million, as of the June 30, 2024 end of the fiscal year. Founded in 1978, the bank has centered its mission on empowering individual consumers, local businesses, and community groups across the island. It has also earned formal recognition from the Eastern Caribbean Central Bank (ECCB) for its standout work as a responsible corporate citizen. For the 2022–2023 fiscal year, NBD reported a net profit of more than XCD $11 million, marking a more than 63% year-over-year increase in net profit for the 2023–2024 period.