Category: CANA News

The Barbados-based Caribbean Development Bank (CDB) is urging regional governments and development partners to take decisive action to address persistently low growth and high debt across the region.

Addressing the second Caribbean Debt Forum, the acting Vice-President Finance and Corporate Services, Ian Durant, outlined a comprehensive set of recommendations to support inclusive sustainable development through improvements in competitiveness, while maintaining macroeconomic stability and building fiscal buffers by addressing debt overhang.

Acting Vice-President Finance and Corporate Services, Ian Durant, addressing second Caribbean Debt Forum.

Durant, drawing on recent macroeconomic data and regional assessments, highlighted the Caribbean’s persistently low growth trajectory, shaped by deep-rooted structural challenges. These include limited declining productivity and heightened vulnerability to climate shocks.

He spoke of the pressing issue of elevated debt levels across many of the CDB’s Borrowing Member Countries (BMCs), which continue to constrain fiscal space and threaten long-term economic stability and the capacity to engage in development spending.

‘The Caribbean’s growth trajectory has been constrained by high export concentration, rooted in structural challenges, which has led to low and volatile growth.

‘To unlock our full potential, we must invest in building competitive, diversified economies that can withstand external shocks and deliver inclusive growth,’ said Durant.

The Vice-President said that while regional debt ratios have improved since the pandemic, eight BMCs remain above the 60 per cent debt-to-GDP (gross domestic product)benchmark. But he warned that rising global interest rates and slower nominal GDP growth could reverse recent gains, making debt sustainability a critical development priority.

‘Debt sustainability is not just a fiscal issue – it is a development imperative. CDB is committed to supporting our member countries through innovative financing solutions, technical assistance, and policy dialogue to help them build resilience and achieve long-term prosperity,’ Durant added.

He also drew attention to the Caribbean Community (CARICOM) Single Market and Economy (CSME), which allows for the free movement of goods, services, capital and people as a platform for trade and growth.

However, outdated port infrastructure, limited shipping connectivity, and high logistics costs continue to constrain the full potential of regional integration to deliver development to the people of the region. CDB’s logistics study revealed inefficiencies such as paper-based systems, outdated fee structures and industrial relations practices, limited operating hours.

To address these challenges, the Vice-President advocated for the enhancement of entrepreneurial ecosystems in a comprehensive fashion, including increased investment in climate-resilient infrastructure, reform and modernisation of the regulatory and institutional frameworks with which the private sector interacts, and expanded access to concessional financing.

He also called for coordinated regional action and strategic partnerships to support expansions in logistics infrastructure, innovation, digital transformation, and inclusive growth.

He said CDB remains a steadfast partner to advance the region’s development agenda, and support its BMCs in navigating complex global challenges.

Scoreboard of the second T20 International between Bangladesh and the West Indies here at the Bir Sreshtho Flight Lieutenant Matiur Rahman Stadium on Wednesday.

WEST INDIES

Brandon King c Hridoy b T Ahmed 1

Alick Athanaze c Hasan b N Ahmed 52

*+Shai Hope c S Hossain b Rahman 55

Sherfane Rutherford b N Ahmed 0

Rovman Powell c Rahman b R Hossain 3

Jason Holder c Hridoy b R Hossain 4

Roston Chase not out 17

Romario Shepherd c Ali b Rahman 13

Khary Pierre b Rahman 0

Akeal Hosein run out 1

Extras (lb2, w1) 3

TOTAL (nine wickets; 50 overs) 149

Did Not Bat: Jayden Seales.

Fall of wickets: 1-1, 2-106, 3-106, 4-112, 5-117, 6-118, 7-144, 8-144, 9-149.

Bowling: Sakib 4-0-23-0, T Ahmed 3-0-28-1, Rahman 4-0-21-3, N Ahmed 4-0-35-2, Hassan 1-0-9-0, R Hossain 3-0-20-2, S Hossain 1-0-11-0.

BANGLADESH

Saif Hassan c King b Holder 5

Tanzid Hasan c King b Shepherd 61

*+Litton Das b Hosein 23

Towhid Hridoy c Seales b Shepherd 12

Jaker Ali c Pierre b Shepherd 17

Shamim Hossain b Holder 1

Rishad Hossain c Powell b Hosein 0

Tanzim Shakib not out 8

Nasum Ahmed b Hosein 2

Extras (nb1, w5) 6

TOTAL (eight wickets; 20 overs) 135

Did not bat: Taskin Ahmed, Mustafizur Rahmann.

Fall of wickets: 1-13, 2-48, 3-85, 4-117, 5-124, 6-124, 7-133, 8-135.

Bowling: Seales 4-0-30-0, Holder 4-0-31-3, Shepherd 4-0-29-3, Chase 3-0-21-0, Hosein 4-0-22-3, Pierre 1-0-13-0.

Toss: West Indies elected to bat after winning the toss.

Result: West Indies won by 14 runs to lead the three-match series 2-0.

Player-of-the-Match: Romario Shepherd.

Umpires: Morshed Ali Khan, Sharfuddoula.

TV Umpire: Masudur Rahman

Reserve Umpire: Gazi Sohel.

Match Referee: Dean Cosker.

The candidate for the ruling Progressive Liberal Party (PLP) in the November 24 by-election, Darron A. Pickstock, has resigned from the Senate, saying he is preparing to be of much more service to the people.

‘I believe my next chapter is to serve closer to the people, to be on the ground working with families, small businesses, and young people who want to see change that they can touch and feel,’ Pickstock said in his October 28 letter of resignation to Senate President LaShell Adderley.

Darron A. Pickstock

The by-election follows the recent death of government minister Vaughn Miller and the main opposition Free National Movement (FNM) had called on Prime Minister Phillip Davis to name the date for a general election rather than holding the by-election.

Last week, FNM leader, Michael Pintard told reporters that the party will soon ‘make an announcement’ on whether it will contest the by-election.

‘Out of respect for our brother, Vaughn, we have been careful with the kinds of events that we have done, but we will resume on Saturday, after we’ve laid our brother to rest,’ said Pintard.

Nomination Day for the by-election has been set for October 31.

Pickstock will contest the Golden Isles seat regarding it as the next chapter of his life that will focus on being ‘closer to the people.’

Pickstock thanked Prime Minister Davis for his confidence in him and reaffirmed his commitment to national development.

‘I remain committed to building a Bahamas where hard work opens doors, opportunity is within reach, and faith continues to light our path forward.’

The PLP holds 32 out of 39 seats in the House of Assembly following the general election on September 16, 2021.

Jamaica is beginning the task of cleaning up on Wednesday after the category 5 hurricane Melissa left several paths of damage in its wake after slowing moving through the Caribbean island with winds in excess of 180 miles per hour (MPH) on Tuesday.

Prime Minister Andrew Holness has declared the island a ‘disaster area’ warning of ‘devastating impacts’ and ‘significant damage’ to hospitals, homes and businesses.

The Office of Disaster Preparedness and Emergency Management (ODPEM) said it has created logistical cells to harness agencies, including customs, Airport Authority and the Jamaica Defence Force, to ensure smooth operations for the clearance and distribution of relief supplies.

‘[This is] to ensure that whenever we are getting in supplies coming into the country , and we know that we will have a lot of commitments coming in from overseas, we will have enough hands on board and a very well put together plan to ensure that when supplies are in country they are not backing up at the ports,’ said acting OPEM Director General, Richard Thompson.

He told a news conference that the main airports and seaports are to be monitored to ensure relief is quick to reach the vulnerable.

The Bahamas government Wednesday said that despite undertaking all the necessary measures to ensure that the country is not blacklisted as a tax haven, it has nonetheless identified a status quo within the bodies that ‘create current global standards that we could not accept’.

Prime Minister Phillip Davis, speaking in Parliament on the Automatic Exchange of Financial Account Information (Amendment) Bill, told legislators that for too long, small nations like his have been subject to international rules written without their input.

Prime Minister Phillip Davis

‘These rules often fail to account for our realities and our sovereignty. In response, we have championed the call for a United Nations Convention on International Tax Cooperation, ensuring that every country, large or small, has a seat and a voice in shaping international tax and compliance standards.

‘As a result, we have been given access to discussions where we previously had no voice. Our Attorney General now sits on the UN Committee with direct responsibility for creating the future of International Tax Cooperation.’

Davis said that this is a direct result of ‘our advocacy as a credible voice, aligned with regional and international partners to fight for a fairer future for small island financial services jurisdictions.

‘At the same time, we are fighting for change on other fronts, as we tackle the most pressing issues facing us that necessitate action on a global scale,’ he said, adding that is why today, when it comes to financial sector compliance, The Bahamas stands among an elite group of nations’.

He said that the country is now the sixth country in the world to be declared largely compliant with all 40 Financial Action Task Force (FATF) recommendations and that earlier this year, the government passed a compendium of financial services laws that further strengthened the country’s compliance) standards.

‘When investors choose The Bahamas in 2025, they are choosing a nation with no blacklists to worry about, a strong and respected global standing, and an economy that is growing year after year.

‘They are choosing a jurisdiction that meets the highest standards, and a country with no lingering questions and no clouds over its reputation – just a bright future ahead of us.’

Prime Minister Davis said that the legislation before the Parliament follows the second round of effectiveness assessment by the OECD during the month of July 2025 and that the discussed were of meaningful dialogue regarding the country’s implementation of the Standard for the Automatic Exchange of Financial Account Information.

He said the Standard not only calls for a strong legislative framework, but also for an effective administrative compliance framework to be in place.

‘This framework enables us to monitor and supervise individuals and Financial Institutions to ensure adherence and compliance with the law, prevent circumvention of the Standard, administer and enforce penalties for non-compliance, and make sure taxpayers fulfill their obligations.’

Prime Minister Davis said that during the onsite assessment, it was recognised that The Bahamas has a CRS AEOI compliance strategy in place, which is still evolving, but noted that we need to further develop our administrative compliance framework.

‘The amendments we are debating today essentially empower Designated Supervisory Authorities (‘DSAs’) charged with the responsibility of conducting compliance and investigation activities, such as audits and onsite visits to Financial Institutions, to ensure that they are reporting in a timely manner, to inspect and verify documents and records.’

He said that the compliance activities also extend to ensuring that self-certifications are being collected and that the information reported in the CRS AEOI Reporting portal is correct and accurate.

Prime Minister Davis said The Bahamas is also under an obligation to ensure that financial institutions and persons are aware of potential circumvention schemes, including the risks presented by Citizenship by Investment and Residence by Investment schemes to prevent misuse and address it when detected.

But he acknowledged that building an effective compliance strategy has its challenges and may seem like a mammoth task, but the DSAs identified by the legislation, consisting of the key regulatory bodies like the Central Bank of The Bahamas, the Securities Commission of The Bahamas, and the Insurance Commission of The Bahamas, are equipped with the skill and knowledge to help safeguard the integrity of the taxation system.

He said they will be provided with the necessary powers, via this amendment to the Bill.

‘That, in essence, is the major change we are introducing through this Bill. It is noteworthy, however, to mention that the Bill also seeks to amend the existing Section 13 on Excluded Accounts to ensure that the description of the said accounts aligns with the Common Reporting Standard.

‘The Bill provides that administrative penalties collected under the principal Act must be paid into the Consolidated Fund. In addition, the Bill also provides for appeals, whereby an aggrieved person may appeal decisions made under the Act to the Supreme Court.’

Prime Minister Davis said that with approximately 160 jurisdictions involved and participating in the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, The Bahamas will continue to honour the commitments made in 2014, and carry on the building of relationships and trust among other Jurisdictions.

‘Today, when The Bahamas speaks on the global stage, we do so with credibility as one of the most successfully compliant nations in the world.

As we continue to chart our course as a global leader in financial services, we will remain guided by our conviction that the best days for our financial services industry, our economy, and our people still lie ahead of us,’ Davis told legislators.

The Guyana government says it is fast-tracking an Electronic Identification (E-ID) card system as the country seeks to deal with its porous borders which it acknowledges can be easily breached.

Home Affairs Minister Oneidge Walrond, speaking at a news conference on Tuesday night following the arrest of a Venezuelan national accused of planting a bomb that killed six-year-old Soraya Bourne and injured several others last Sunday night, said that any foreign national entering Guyana must be registered at legally designated points of entry.

Minister of Home Affairs, Oneidge Walrond (center), during Tuesday night’s media briefing.

‘For Venezuelan migrants who come here through our ports, they are all registered and their details are taken,’ Walrond said, adding that persons who fail to register themselves will face deportation and sanctions.

‘What we will do is that for the persons who are in Guyana illegally, they will be given a grace period to come to register and have this E-ID card,’ Walrond said.

The E-ID cards will differentiate between citizens and non-citizens. It will also integrate personal data into a secure digital and physical card for accessing government and private sector services.

Waldron said without this card, non-citizens will not be able to access any services in Guyana.

The authorities said that the E-ID will link to other systems, including bank account and immigration records, and can be used for both digital and physical transactions.

They said the application process is relatively easy and involves booking an appointment online or at a service centre.

‘The documents needed for registration will be listed. After you prepare them, follow the steps at the service centre to finish your application. You will be notified when your card is ready to pick up,’ according to a government statement.

Prime Minister Dr. Ralph Gonsalves Tuesday night announced November 27 s the date for the general elections in St. Vincent and the Grenadines.

Speaking at the ruling Unity Labour Party’s (ULP) ‘Labour Strong Rally’, Gonsalves said that the 15-seat Parliament has been dissolved and that Nomination Day is November. 10.

‘It is now decision time for our free and democratic people in free and fair elections for you to choose between the ULP and the NDP (New Democratic Party),’ Gonsalves said.

The ULP is seeking an unprecedented sixth consecutive term in office. The ULP had won an historic fifth consecutive five-year term by a 9-6 margin in 2020, when the party won North Leeward by one vote after a contentious recount.

However, in 2020, the party also lost the popular vote for the first time since 1998.

‘And the NDP, you’re listening to me: Hear me well. as a boy from country, I tell you, it’s ain’t long rope that does heng (hang) cattle; is short rope, and the rope is getting shorter and shorter,’ said the 79-year-old Gonsalves.

Gonsalves main challenge will come from the NDP, headed by the 66 year-old Dr. Godwin Friday who has been representing the Northern Grenadines since 2001,and his making his his second bid to become prime minister.

In 2020, Friday failed in his first attempt to lead the NDP to victory, almost four years after taking over the reins of the party.

Prime Minister Dr. Ralph Gonsalves has announced an increased in public assistance of EC$360 (One EC dollar=US$0.37 cents), saying that the increase is retroactive to three months.

Gonsalves also announced that public sector workers will receive a three per cent Cost of Living Allowance (COLA) for three months.

‘A Christmas COLA will also be paid to all public servants, nurses, teachers, police officers, prison officers and non-established employees in the central government as a one-off payment tax-free, of three per cent of the person’s salaries or wages for three months,’ Gonsalves said.

Delivering his Independence Day address on Monday evening, Gonsalves said the minimum pension paid by the National Insurance Service (NIS) will be raised to the same amount, with the government contributing the additional EC$40 for each of the 1,910 pensioners, until an actuarial review is done, as required by law.

He said there are 4,646 people on public assistance, a social welfare programme through which the government gives a monthly payout to poor and vulnerable people, including the disabled.

Before Gonsalves’ announcement, public assistance recipients who are less than 65 years old received EC$280 monthly while those older received EC$300.

The prime minister said that from December, all recipients will receive EC$360 a month and that is in addition to the expanding menu of social safety net assistance, including housing, rents, food packages, lump sums for particular adverse events, and medical and pharmaceutical support.

‘To assist in cushioning the expenditure for persons who are receiving public assistance, I will be backdating this increase from September 1, 2025,’ Gonsalves said.

‘So, for a person receiving EC$280 a month in Public Assistance, his or her payment from December will be EC$80 more, but at the end of November, he or she will receive, in addition to his or her regular EC$280, a backdated lump sum of EC$240 – the additional EC$80 for each of the three months of September to November inclusive.’

Gonsalves said this was a kind of public assistance Cost of Living Adjustment, similar to what he announced for other categories of Vincentians.

Gonsalves said that the increase in public assistance for the four months will cost the Treasury EC$1.246 million, adding that it will be EC$3.74 million annually.

Gonsalves told the nation that when his Unity Labour Party (ULP) came to office in 2001, public assistance was EC$50 a month.

‘We have increased it some six times before the latest round of increases and expanded the list to accommodate more persons, particularly the elderly, the infirm and the physically challenged who are in need.’

He said any government has to be alert to the difficulty of increasing the monthly cash payment of public assistance above the minimum monthly payments for the pensioners at the NIS.

The NIS minimum pension is determined following a periodic actuarial review, as required by law.

‘Currently, there are 1,910 pensioners at the NIS who are on a minimum pension, out of nearly 10,000 pensioners overall on the NIS roll,’ Gonsalves said, receiving a minimum pension of EC$320 monthly.

‘These would have contributed to the pension fund. So, it is unfair to them, having contributed to the national insurance pension fund, that they should get less than the non-contributory public assistance,’ he said, adding that the people on minimum pensions rightly complain whenever public assistance payments exceed theirs.

The prime minister said he was correcting this until the next actuarial review, adding that in addition to the minimum NIS pension of EC$320 monthly, the government will pay through the NIS an additional EC$40 to bring the minimum pension to EC$360.

‘Not only that, because I give the back pay for the non-contributory pension, I’m also giving the back pay of the $40 for the three months, so they will get an additional $120 in a lump sum to help them between September and November.’

Gonsalves said the cost to the treasury for this support from September to December will be about EC$250,000.

‘I have to say, for completeness, those who are on the NIS have some additional benefits, such as a funeral grant for the family of a pensioner.,’ Gonsalves said, also announcing that his government will increase from EC$275 to EC$400 the monthly pay-out per foster child to foster families.

‘I know somebody may be saying, ‘Well, I have space for three foster children, so I’ll get EC$1,200.’ But remember, the ministry will vet you to see that you’re an appropriate person to be a foster mother.’

He said there are currently 165 children in foster care, either with families or with mothers who are not families or in institutional care, adding that the government will back date this increase to September.

Gonsalves said that the Christmas COLA to public sector workers will cost the Treasury three million EC dollars and that in January, the government will engage public sector unions on salary-related negotiations for three years, to be included in the 2026 budget.

Gonsalves also announced that 2,704 people who had been assessed to be in severe need and who were paid a COLA of EC$175 monthly for three months earlier this year will be paid a Christmas COLA of another three months from October to December this year.

‘This Christmas cola will be paid by the end of November 2025. This will cost the Treasury $1.4 million,’ he said.

The extremely dangerous category 5 Hurriccane Melissa has made landfall in Jamaica on Tuesday, with officials warning about the catastrophic winds, flash flooding and strom surge associated with the storm, already blamed for three lives.

As the storm inches closer to the island, a representative of the International Federation of Red Cross and Red Crescent Societies (IFRC) said that the category 5 system ‘will be the strongest on the planet this year’ putting a million people at direct risk, ‘including families which are still recovering from Hurricane Beryl’ which hit Jamaica 16 months ago.

‘Roofs will be tested. Flood water will rise. Isolation will become a harsh reality for many,’ said Necephor Mghendi, the Trinidad-based IFRC’s head of Delegation for the English and Dutch-speaking Caribbean.

The tropical cyclone specialist with the World Meteorological Organization (WMO),  Anne-Claire Fontan, quoting the Miami based National Hurricane Center (NHC), said ‘total structural failure is likely.

‘I have never seen this sentence before. it’s a massive impact that is expected to be in Jamaica,’ she said.

The NHC in its latest bulleting said that the storm is about 40 miles south east of Negril in Jamaica and has maximum sustained winds of 185 miles per hour.

(Details in Full News section)

Police say they have detained three people in connection with the explosion at a gas station that killed one person and injured several others on Sunday night, but that the main suspect is stil on the run.

‘Information obtained from these arrests has provided key leads to investigators. The principal suspect, who remains at large, is being actively sought as the investigation continues,’ the police said in a statement.

They said that among those arrested is a Venezuelan national and that all three men are assisting with the investigation.

The authorities have not released any name to identify the main suspect being sought, but video image disseminated by them said the man, who is wanted for terrorism, speaks Spanish.

A six-year-old girl, who was in a car in the Mobil gas station compound in the capital was killed when the contents of a bulky black plastic bag exploded near the vehicle in which she and others were occupants. Four others were injured.

The explosion that rocked several parts of the capital city occurred at about 7:24 pm (local time) and according to closed-circuit television (CCTV) surveillance video, the man was seen entering the gas station and attempting to place the bulky bag in a waste disposal bin next to a fuel pump, but an attendant who was seated there told him not to do so.

The video recording shows him leaving the gas station through the western entrance but not before placing the bag next to the car. As the car was reversing slowly, the device in the bag exploded and rocked the car.

Meanwhile, the main opposition, We Invest in Nationhood (WIN), is demanding that the government screen migrant workers and foreigners, while the other opposition grouping, A Partnership for National Unity (APNU) said that security should be boosted at several key installations, in the wake of Sunday night’s explosion.

‘We call on the government to strengthen protection of critical infrastructure such as fuel depots, power substations, and public markets through updated safety audits and drills,’ APNU said in a statement.

WIN, which became the country’s main opposition grouping after securing the second most amount of seats in the September 1 regional and general elections, called for heightened national security measures and intelligence coordination and ‘stricter border monitoring and background checks on all non-Guyanese entrants.’

The party said two explosions at the Ruimveldt Police Outpost and the Guyana Power and Light’s substation in May 2025 and Sunday night’s incident were ‘interconnected’ ‘attacks’ warning that a number of persons crossing Guyana’s borders with open access to every sector of the society ‘might be members of the Venezuelan army or intelligence services, and not all have good intentions.’

It accused the ruling People’s Progressive Party/Civic (PPP/C) administration of ‘allowing the influx of tens of thousands of Venezuelans into our country’ that compromised the nation’s national security.

In an obvious reference to the United States military build-up in the Caribbean and fears that the stage is being set to depose the Nicolás Maduro administration in Venezuela under the guise of fighting narco-trafficking, WIN said Guyana needed to be wary of the implications. ‘Given the current geopolitical dynamics, Guyana must remain on full alert for any potential negative repercussions or retaliatory actions from Venezuela,’ that party said.