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Feb 24 - Mar 10, 2017 the Editorially Independent Publication of the Caribbean Council

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Feb 24 - Mar 10, 2017 the Editorially Independent Publication of the Caribbean Council VOL 39 • ISSUE 38 CARIBBEAN INSIGHT FEB 24 - MAR 10, 2017 THE EDITORIALLY INDEPENDENT PUBLICATION OF THE CARIBBEAN COUNCIL New CARICOM initiatives Highlights this issue... on tourism and ICT Click and explore: CARICOM Heads of Government meeting in Georgetown have agreed to give greater priority to tourism, the development Argyle International Airport finally of a regional ICT programme, and to addressing the issue of opens in St Vincent & The Grenadines pan-Caribbean crime. Of all the matters discussed at the inter-sessional summit Baha Mar owner invests ahead held on February 16-17 under the Chairmanship of Guyana’s of April launch President, David Granger, the issue most likely to have a time- ly outcome relates to tourism, a sector rarely discussed by Heads of Government, despite its centrality to the regional Major CDB loan to curb water loss economy. and improve delivery At the meeting, CARICOM Heads recognised for the first time PM Barrow remains optimistic ‘that tourism is a vital sector to the economies of Member about Superbond renegotiation States’. In doing so they welcomed detailed proposals put forward by the Caribbean Tourism Organisation (CTO) and the Caribbean Hotel and Tourism Association (CHTA) to advance a Government of Cayman Islands regional tourism agenda, in part through the creation of pub- proposes ambitious energy plan lic/private sector partnerships to address issues from airlift to marketing. New US-Cuba policy likely to be in place by July In an important departure, they agreed to the establishment of an Interim Tourism Working Group involving the CARICOM Secretariat, CTO and the CHTA, and stakeholders to prepare a Kempinski to open first Cuban five-star hotel pilot region-wide public relations and marketing initiative. This will be considered when they next meet in July. New mineral resources found The decision was subsequently welcomed by the CTO and in Dominican Republic CHTA, who said that, at the request of Heads of Government, they will now be developing detailed information on the re- CDB: Guyana well positioned gional industry’s competitiveness and financing needs to en- due to oil and fiscal prudence sure its future sustainability. Haitian President to name Continue on page 2 > Prime Minister after Carnival The other agreement reached, with potentially significant long-term implications, was a draft roadmap for a single CARICOM ICT space, based on a paper produced by the Caribbean Telecommunications Union (CTU) and officials. The proposal envisag- es ICT becoming a driving force for the creation of a CARICOM digital economy, and a means of increasing inter-regional social cohesion and awareness. On crime, especially among young people, ‘grave concern’ was expressed, and it was recognised that there was a need to take action at a regional level to finalise and implement the Regional Crime and Security Agenda and to develop capacity to address cybersecurity, cybercrime and drug demand reduction. At the meeting, it became apparent that CARICOM’s Legal Affairs Committee had failed to take the steps necessary for Heads of Government to agree on essential measures relating to transnational crime, or to improve regional security in the form of a CARICOM-wide arrest warrant and treaties relating to the seizure of ill-gotten assets. Caribbean Heads also noted ‘that some of their previous decisions [on the CARICOM Single Market and Economy (CSME)] had not been complied with’. Among the issues which had to be addressed as a matter of urgency was the challenge of cross-bor- der payments for goods and services traded within the region, and the completion of the protocol on procedures relating to facilitation of travel and free movement. They also recognised the importance of transportation to the movement of Commu- nity nationals, and called for a focused discussion on this topic in the context of the integration movement, as well as greater collaboration among the regional airlines. On the subject of correspondent banking they once again recognised the need for a regional approach, and for concerted action to address the de-risking strategies of global banks. It was agreed that Ministers of Finance with responsibility for Cor- respondent Financing should assume oversight of a plan submitted by Central Bank Governors. Although there were the usual platitudes about regionalism, there were clear indications in the final communique and subsequent press conference that CARICOM Heads had be- gun to recognise the implications of the body having failed to implement past decisions. The meeting, while well attended by Heads of government from the Eastern Caribbean, was notable for the absence of the leadership of the Northern Caribbean other than Haiti. Jamaica, the Bahamas and Belize were instead represented by their foreign ministers. The full text of the communique, which includes referenc- es to several international and cross border issues, can be found here. The next meeting will be held in Grenada from 4-6 July 2017. 02 INDEX Argyle International Airport Finally Opens in St Vincent St Vincent and the Grenadines finally has an international airport capable of receiving long-haul jet services from North Amer- ica and Europe. The new US$259m airport, known as Argyle International, was officially opened on February 13. Although work began in 2008, completion was delayed, for reasons largely associated with engineering difficulties, bad weath- er and limited resources. St Vincent and the Grenadines was the last independent nation in the OECS unable to receive visitors directly from its main tourism feeder markets. The completed facility on the eastern side of the island is solar-powered, has a 2,743 metre (9000 foot) primary runway, and a large new terminal capable of handling 1.5m passengers per year. It was partly financed by grants from Taiwan, Cuba, Vene- zuela, Trinidad, Mexico, Austria, Malaysia, Turkey, Iran, Portugal, and Libya and is the largest capital project ever undertaken by the country. The first flight arrival was a scheduled service of LIAT. According to the aviation publication CH Aviation, the first long distance international flight was a B737-800 Sunwings charter from Toronto. Among those attending the opening ceremony was the Cuban Vice President, Salvador Valdes Mesa. Cuban workers were involved in the construction of this airport. Although St Vincent does not yet have the numbers of hotel rooms to justify any dramatic increase in jet services, the opening of the airport is expected to spur villa and hotel development in the medium term. The possibility of direct air services has been welcomed by the country’s Diaspora in the US and Canada. moneycorp Foreign Exchange TTT Moneycorp Limited 2015 Saving Caribbean Council members money on international payments Highly competitive exchange rates Free online multi-currency Safeguarded client funds holding and payments account Expert market guidance at the end Free foreign exchange of the phone Deposit-free credit health check terms available Low transfer fees Get in touch To talk to us about our services call 0203 823 0526 or email [email protected] Moneycorp is a trading name of TTT Moneycorp Limited Registered in England: No 738837 Incorporated 1962. TTT Moneycorp Limited is authorised and regulated by the Financial Conduct Authority for the provision of payment services. Registered office: Floor 5, Zig Zag Building, 70 Victoria Street, London SW1E 6SQ. 03 INDEX ANGUILLA Governor approves budget after lengthy delay. Governor of Anguilla Christina Scott assented to the 2017 budget on February 6. The budget had been approved by the House of Assembly on December 21, but Scott’s approval was delayed due to concerns raised by Baroness Anelay, the UK Minister for the Overseas Terri- tories, that the fiscal plan left insufficient flexibility in the event of uncertainties. In a letter dated February 2, Anelay listed a number of conditions upon which her own approval of the budget rested: • Adoption of a contingency plan to protect against risks associated with the 2017 Budget • Improved quarterly reporting on the economic reform package adopted in March 2016 • Agreement to no tapping of government reserves without prior notice, and that expenditure only take place once revenues are secured in order to maintain fiscal balance • Provision of an update in April 2017 on the progress of the sale of ANGLEC shares • Agreement among officials on a timetable for the start of work on the 2018 budget Chief Minister Victor Banks agreed to these measures on February 2, clearing the way for Scott’s assent. ANTIGUA Road improvement key to infrastructure overhaul. The government launched a US$17.4m project to re- & BARBUDA habilitate the Sir George Walter Highway and Friars Hill Road on February 10. The work is being funded by the UK Caribbean Infrastructure Partnership Fund (UKCIF) grant. During the launch ceremony, Prime Minister Gaston Browne noted the importance of the two roadways, which he said are used by 75% of Antiguans every day and connect St John’s to the island’s top tourism areas, as well as the most populous communities and VC Bird International Airport. The Caribbean Development Bank will administer the UKCIF grant. The rehabilitation of nearly 9km of road- way is part of a larger, more comprehensive infrastructure improvement initiative, said Browne. BAHAMAS ‘Spy Bill’ to have public consultation period. The controversial Interception of Communications Bill, or ‘Spy Bill’, has been delayed to allow for a period of public consultation, according to Attorney General Allyson Maynard-Gibson. The bill, which allows for law enforcement agencies to intercept electronic communications of any kind once ‘certain clearly defined conditions are fulfilled’, has been publicly opposed by the likes of Free National Move- ment Leader Hubert Minnis and Grand Bahama Human Rights Association President Fred Smith. Opponents of the bill argue that it gives too much leeway to the government to monitor electronic communications sent by citizens and businesses.
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