Caribbean Roundup
Antigua and Barbuda
The Antigua and Barbuda government is confident that the new regional airline LIAT 2020 will begin commercial operations soon, although a precise date has not yet been decided.
However, the government says that they are still waiting on a response from the Barbados-based Caribbean Development Bank (CDB) regarding its call for the bank and regional shareholder governments in the bankrupt airline to relinquish their interest in an escrow fund and use the finance to meet the severance payments owed to the former employees.
Chief of Staff in the Prime Minister’s office Lionel Hurst said that the first commercial flight of LIAT 2020 could coincide with the upgrading of the Barbuda airport.
Antigua and Barbuda is involved in an agreement with the private Nigerian-based airline Air Peace in the establishment of LIAT 2020 airline. Earlier this year, Prime Minister Gaston Browne had said that Air Peace would be investing close to US$65 million, while his government was investing US$20 million.
In addition, the government said it would pay US$12.1 million into an escrow account for the acquisition of other planes owned by the Barbados-based Caribbean Development Bank (CDB) as efforts continue to launch LIAT (2020) Ltd.
But Browne has since said that the CDB and the shareholder governments of LIAT (1974) Ltd should relinquish their interest in the escrow funds.
Guyana
The Environmental Protection Agency (EPA) has begun a review of an application from ExxonMobil Guyana to develop a seventh oil project at the Hammerhead field in the Stabroek Block.
Officials say that ExxonMobil’s seventh oil project could push the country’s output beyond 1.5 million barrels by 2029
While the preliminary production capacity for the seventh vessel is 120,000 to 180,000 barrels per day, and gas production are projected to be 60 to 120 million standard cubic feet per day, ExxonMobil was keen to remind in its project summary that it looks “for opportunities to safely optimise that capacity” after initial start- up.
Once the Hammerhead project is brought online to operate alongside a fleet of six sanctioned projects in the Stabroek Block, Guyana’s oil production output will hit approximately 1.5 million barrels per day.
The EPA said that the proposed project will be undertaken largely in the marine offshore environment.
As a result of the intended developmental activities, possible effects to the environment may include impacts on marine water quality. air quality, marine fauna, and socio-economic resources, among others, the EPA noted, instructing ExxonMobil Guyana to submit an Environmental Impact Assessment (EIA) for the Hammerhead project.
The environmental regulator further noted that members of the public are invited, within 28 days of the July 14 Notice, to make written submissions to the agency, setting out those questions and matters that they require to be answered or considered in the EIA.
The Hammerhead project is expected to contribute directly and indirectly to economic growth in Guyana, including increased national revenues, local procurement of select goods and services, and increased direct and indirect local employment opportunities which drive associated beneficial “multiplier” impacts throughout the local economy.
St Lucia
St Lucia’s police force says they are taking seriously death threats that are being made against law enforcement officials in the wake of recent police action in the fight against crime.
“In the wake of recent police action in combating crime on the island, several threats including threats of death have been hurled at members of the Royal St Lucia Police Force in person and increasingly over social media,” said Assistant Commissioner of Police Luke Defreitas. “The Royal St Lucia Police Force condemns these attacks and will do all that is legally possible to protect its members. Investigators will seek to identify and pursue, without fail, all persons responsible.”
Defreitas said some of those brazen warnings made over multiple online platforms included threats of targeted attacks against specific members of the force.
Defreitas said that the RSLPF respects citizens’ rights to comment on matters of national interest but that the language inciting or facilitating violence or otherwise constituting credible threats to members of the RSLPF or any other person is unlawful.
He advised citizens to be cautious and responsible in online communication to avoid legal consequences.
St Vincent and the Grenadines
The executive directors of the Washington-based International Monetary Fund (IMF) say St Vincent and the Grenadines has achieved a robust economic recovery.
The financial institution said that the economy rebounded strongly in 2022–23 from the pandemic and 2021 volcanic eruptions, returning to pre-pandemic output levels.
This was supported by large public and private investment and a vigorous recovery of tourism. Inflation has also subsided from its peak.
The IMF executive said that the St Vincent and the Grenadines authorities’ decisive policy responses, large-scale investment projects, and robust growth in tourism have contributed to the recovery.
Employment has returned to the pre-pandemic level except for young men, and female labour force participation remains relatively low.
“The outlook is favourable, supported by continued recovery in tourism and strong investment in infrastructure, but is subject to downside risks mainly stemming from an abrupt global slowdown, commodity price volatility, and potential delays in investment projects,” the directors said. “Furthermore, the economy is facing significant challenges from a rapidly ageing population and the intensifying threat of natural disasters and climate change, amid the still high public debt.”
They said fiscal policy should focus on building buffers and supporting resilience and inclusive growth while safeguarding public debt sustainability.
