Barbados

The Barbados government has confirmed that a team from the International Monetary Fund (IMF) will join local regulators in inspecting the financial sector.

Minister in the Ministry of Finance Ryan Straughn said that the IMF team will be joined by individuals from the Central Bank of Barbados (CBB) and the Financial Services Commission (FSC) in assessing the island’s entire financial sector.

Straughn added that the regulators would test the sector’s strength, including insurance companies, commercial banks, credit unions, mutual funds, securities, and other financial services operations.

The minister said the assessment would determine where “we stand in relation to what we have done under this very IMF program.”

Evaluating the Insurance (Amendment Bill) 2025, the junior finance minister said greater attention will be paid to adequate supervision of the insurance sector and that local regulators will operate together with their regional counterparts, given the level of cross-border company investments. However, he acknowledged that to “open areas for opportunities and growth,” interventions will be necessary to help the local “financial system to be more robust.”

“We on this side are cognizant that you have to be flexible in an environment that, globally, is clearly unfolding. And therefore, in that evolution of the external environment, we must make sure that we have the right data, we have the right partnerships, we’re working cross-border to ensure this close-up collaboration between regulators in Barbados, regulators across the rest of the Caribbean, and even globally because it doesn’t make sense for us to not have those working relationships.”

Caribbean

The Organisation of Eastern Caribbean States (OECS) has launched the Caribbean Efficient and Green Energy Buildings Project (CEGEB project), which it describes as “a transformative regional initiative designed to accelerate the adoption of sustainable energy solutions and energy-efficient practices” across public buildings in the participating countries.

The initiative was launched at a meeting in Grenada with representatives from St. Lucia, Guyana, the World Bank, the Barbados-based Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE), and the host country.

The US$131.8 million five-year project, funded by the World Bank, will allow governments to demonstrate leadership in sustainable energy and its associated benefits.

Under the project, an estimated 500 buildings will be retrofitted with energy efficiency measures, and an estimated 50,670 kWp (kilowatt-peak) of solar photovoltaic will be installed.

The CEGEB project also builds on the OECS Commission’s strong track record in pooled procurement, which has enabled member states to access critical pharmaceutical drugs and medical supplies more efficiently and cost-effectively through a collaborative approach.

The Commission aims to provide more affordable sustainable energy solutions for the region, which is also expected to stimulate the development of a regional market for energy-efficient technologies, create local green jobs, and strengthen the capacity of public and private stakeholders to manage and maintain green energy solutions.

“Caribbean Green Buildings signals a new era of collaboration and innovation in the OECS for advancing our sustainable energy transition,” said Judith Ephraim-Schmidt, program director, Sustainable Energy at the St. Lucia-based OECS Commission.

“By combining our sustainable energy expertise with the efficiencies of pooled procurement, we are delivering real solutions that will make our public buildings greener, our economies stronger, and our communities more resilient at a reduced cost.”

The Caribbean Green Buildings initiative marks a significant milestone in the OECS’ ongoing commitment to sustainable development. The OECS is embarking on the 2025-2035 Decade of Action for Sustainable Energy Development in the OECS.

The OECS groups the islands of Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, St. Kitts-Nevis, Montserrat, Anguilla, and the British Virgin Islands.

Grenada

After parliament recently approved the nutmeg (a spice with seven stars in a semicircle) as the 38th symbol to be used on the ballot paper for any future election in Grenada, former government minister Jonathan LaCrette says that this will be the symbol of his new political party.

The Representation of the People (Election Symbols) Regulations mandates that any symbol to be placed on a ballot paper for an election must be approved by legislators.

LaCrette, who was fired from Prime Minister Dickon Mitchell’s Cabinet in July last year, launched a social media video announcing the formation of the People’s National Party (PNP).

In the video, the former youth, sports, and health minister said, “This generation stands on the threshold of history, ready to embark on a journey that will reset Grenada for another 51 years and beyond. We must ensure that we build well-structured and functional political organizations with a governance model that is transferable and robust”.

“A PNP-led administration will prioritize national security, education, healthcare, agriculture, youth, and sports,” he said, describing his political organization as “a party that is inclusive, a party that listens, a party that will create policies that empower.”

LaCrette announced his intention to contest the St George’s North West constituency, a political stronghold held by Dr Keith Mitchell for the main opposition New National Party (NNP) since 1984.

Last year, Prime Minister Mitchell said he had asked the Governor General to revoke LaCrette’s appointment as a minister, saying he had lost trust and confidence in the then-senator.

“I will not get involved in the nitty-gritty of the details; they are not appropriate given the fact that it is a trust and confidence issue,” he added.

By October 2024, LaCrette announced his resignation from the NDC.

Guyana

Geeta Chandan-Edmond, a legislator with the opposition A Partnership for National Unity+Alliance For Change (APNU+AFC), said she is backing President Irfaan Ali for another term as head of state.

“Let the record reflect tonight; I stand proudly with President Irfaan Ali. I stand with his leadership, I stand with his vision, and I stand with his steadfast commitment to this country, and I say to every one of you in this House and out of this House that President Ali has earned a second term and Guyana deserves nothing less,” Chandan-Edmond told legislators recently.

She said that, under Ali’s leadership, Guyana is developing rapidly.

This announcement comes less than a month after the opposition left the National Assembly, accusing the Guyana government of excluding them from the Venezuela border motion.

“We are witnessing real change, investment in people, bold infrastructure, social upliftment and a renewed sense of national pride and so I fully and unapologetically endorse President Irfaan Ali for a second term because the work is not done, the transformation is still underway,” she added.

Chandan-Edmond told legislators that she wanted to apologize and regretted “sincerely” joining with her colleagues in walking out of a debate on a motion against Venezuela’s continued acts of aggression. “What did the opposition do? I was part of it. We chose silence, and we walked out. We chose politics over patriotism. It was not only disappointing, it was also disgraceful. It was in every sense a betrayal of our sacred duty.”

“While President Ali was defending our sovereignty, rallying international support, and standing tall for our Guyanese, the opposition faltered,“ she added.

Her announcement of support for the incumbent head of the ruling People’s Progressive Party/Civic (PPP/C) follows several PNCR supporters’ decision to endorse Ali for a second term.

The general and regional elections will be held on Sept. 1.

Haiti

United Nations humanitarian groups raised concerns over Haiti’s heightened vulnerability to natural disasters, warning that the country’s limited response capacity could be severely tested during the 2025 hurricane season.

The statement comes after a forecast that the six-month season, which began on June 1, could be significantly more intense than average across Latin America and the Caribbean.

They said that the upcoming season poses a serious threat to the impoverished country, where economic crisis, ongoing gang-related violence, and rampant insecurity have already displaced over one million people, and more than 200,000 people are currently living in displacement sites across the country, many of which are situated in flood-prone areas.

Lacking proper shelter, drainage, and sanitation, these camps “leave families acutely vulnerable to storms,“ said UN spokesperson Stéphane Dujarric.

The UN Office for the Coordination of Humanitarian Affairs said it is working with national authorities and humanitarian partners to prepare for the hurricane season. Ongoing efforts include contingency planning, mapping high-risk areas, particularly displacement sites, and strengthening early warning systems.

However, humanitarian access remains limited, and the lack of prepositioned supplies throughout the country severely hinders preparedness.

This is a “direct consequence of underfunding,“ said Dujarric, adding that “funding remains a major obstacle“ to the UN’s emergency response in Haiti.

Compiled by Devika Ragoonanan