Pulse of the Caribbean

#110 Caribbean News Round Up Episode 1 Week of September 15

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The Caribbean faces multiple challenges from Haiti's security crisis to economic pressures and energy transformations, with nations seeking solutions that balance immediate needs with long-term sustainability goals as highlighted in this episode.  Here are the stories making Caribbean headlines.

  • UN Secretary General condemns killing of 40 people by armed gangs in Haiti, urging member states to strengthen multinational security efforts
  • CARICOM estimates that diversifying import sources away from US could save member states $1.3 billion annually 
  • Dominican Republic celebrates foreign investment expected to exceed $4.86 billion by 2025
  • US Virgin Islands Governor advocates for energy initiatives centered on revitalizing the St. Croix Port Hamilton refinery 
  • British Virgin Islands aims to generate 60% of electricity from renewable energy by 2030
  • St. Lucia developing $143 million Halls of Justice to house all major courts 
  •  St. Croix approved lease negotiations for RePlastic Recycle LLC to establish large-scale plastic recycling operations

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Speaker 1:

This is the Pulse of the Caribbean Caribbean News Roundup. Now today's Caribbean News Headlines.

Speaker 2:

This podcast is brought to you by Diamond Key, marina Yosvendike, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Welcome to the Pulse of the Caribbean News Roundup, episode one for the week of September 15th. Here's a look at what's making Caribbean headlines. We start our report today.

Speaker 2:

In Haiti, the United Nations Secretary General strongly denounced the alleged killing of at least 40 people, including women, children and the elderly, by armed gangs in Haiti's West Departments Cabaret Commune on September 11. Antonio Gutierrez offered his sympathies to the deceased families, haitians and the government. The Secretary General's spokesperson said the Secretary General is alarmed by the violence in Haiti and urges the Haitian authorities to bring perpetrators of these and all other human right abuses and violations to justice. The Secretary General calls on member states to expedite efforts towards strengthening the multinational security support mission with required logistics, personnel and funding to effectively assist the Haitian National Police in addressing gang violence in Haiti in full respect of international human rights law. Now on to CARICOM.

Speaker 2:

As reciprocal tariffs rise and the regional trade deficit rises in the Caribbean, the CARICOM private sector organization predicts diversifying import sources away from the US may save member states 1.3 billion US dollars annually. The Caribbean is the United States' third largest import partner. Nearly 70 percent of final imports, valued at 7.7 billion US dollars, are US. The findings were presented at a hybrid conference on September 10th titled Derisking CARICOM Single Market and Economy Imports Examining the Scope for Good Market Fulfillment from Non-Traditional Sources. Caricom Private Sector Organization and Eastern Caribbean Central Bank, headquartered in Sinkitz and Nevis, sponsored the event. A comprehensive study by CARICOM Private S organization CEO and technical director, dr Patrick Anton, found troubling trends in the region's good trade deficit with the United States. The deficit increased by $200 million between 2022 and 2023 and $300 million between 2023 and 2024. Even without tariffs, 2024 to 2025 deficit is estimated to be $500 million. Tariffs of 10% to 15% on duty-free goods will hike prices dramatically after the United States imposed 15% reciprocal duties on Trinidad and Tobago and Guyana in July. The analysis predicts a $653.6 million export income loss. Caricom private sector organization warned that the United States levies on commodities entering the United States before transshipment to the Caribbean will cascade. Caribbean tourism services are threatened by growing living and business costs due to secondary inflation and local labor prices. Eastern Caribbean currency union members import 44.4% from the United States, making them susceptible, unlike several CARICOM states that import raw materials for processing and re-export Eastern Caribbean Currency. Union members state import finished goods, limiting value-added manufacture.

Speaker 2:

Governor of Eastern Caribbean Central Bank, timothy Anton, stated remedies must be adopted swiftly. He advised region to become a bi-directional trade port, using its location between the Americas, africa and Europe. The combination of energy security and digital transformation might create a new development engine. Dr Anton reminded the conference that CARICOM's strategy response must involve strengthening product competitiveness in US markets in 2024 and aims to exceed $4.860 billion by 2025, marking four consecutive years of record levels, according to the Dominican Republic's President, luis Abinader. At the Pro Dominicana Investment Recognition event, 11 companies were acknowledged for their foreign direct investment contributions. Abinader stressed that foreign investment boosts economic growth by creating quality jobs, innovation and sector diversification. Tourism and energy, free trade zones, telecommunications, trade and industry, real estate, mining, transportation gain from foreign direct investment. He mentioned the new tourist center in Cabo Rojo, bernalis, to attract tourists and improve local conditions, with 25 percent renewable energy generation and rising investment in high-tech industries like semiconductors. The president stressed the country's commitment to sustainability and scientific growth Due to its macroeconomic stability, legal security, openness and trust. He urged investors to continue finding the Dominican Republic fertile soil for wealth creation and transformation. Our next stop is the US Virgin Islands.

Speaker 2:

Us Virgin Islands Governor Albert Bryan Jr joined federal and territory leaders at the US Department of the Interior's Interagency Group on Insular Areas 2025 mid-year plenary session last week to advocate for energy, health care, equity and economic development collaboration. Bryan emphasized that the US Virgin Islands are a vital entryway to the continental United States, making reliable and affordable energy essential for its citizens and national defense. He stated President Trump has a willing partner in the US Virgin Islands. He said our economy and energy stability helps America's national security. The vision centers on the St Croix Port Hamilton refinery. It is estimated that the idle facility might generate over 400 million annually, contributing 45 million million in revenue to the government and create more than 400 jobs. Bryan added, with the right federal partnership, port Hamilton can be more than a refinery. This can be a paradigm for clean and innovative energy production that boosts American growth and energy supply. Bryan also noted that restoring and rebuilding Port Hamilton will stabilize the US Virgin Islands Water and Power Authority, lowering prices and enhancing reliability. He also urged federal partners to support the complete deployment of solar for all, which would deliver solar panels and battery storage to over 4,300 families add 21 megawatts of solar capacity and 55 megawatts of storage across the US Virgin Islands territory. Now from the US Virgin Islands, we head to the British Virgin Islands.

Speaker 2:

According to the British Virgin Islands Electricity Corporation General Manager, neil Smith, the government expects to generate 60% of the territory's electricity from renewable energy by 2030. Smith told the BVI Talking Points radio program that the central government requires BVI Electricity Corporation to shift from diesel generation. He said the central government wants 60 percent renewable energy generation penetration by 2030. Smith said the company will invest in renewable energy instead of fuel. Diesel remains a huge consumer burden. Smith said About 40 percent of electrical bills in the BVI is diesel fuel costs and BVI Electricity Corporation spends about $1 million a month subsidizing fuel expenses for customers.

Speaker 2:

Current renewable target initiatives were highlighted by the BVI Electricity Corporation head. He stated that the Anagata Solar Project would offer up to 95 percent of the island's energy from renewable sources. He also mentioned the Solar Technology Energy Program, which helps homeowners and businesses install solar panels. The British Virgin Islands government has regularly expressed renewable energy as a way to lower electricity prices and improve storm resilience. The plan promotes renewable energy equipment via custom duty exemption and projects like Anagata's hybrid solar system and the solar technology energy program. Smith said BVI Electricity Corporation is prioritizing fossil fuel reduction and stable electricity prices. To reduce diesel reliance we must invest in renewable energy instead of diesel generation, he said. Instead of diesel generation, he said Next up, large-scale plastic recycling operation planned for St Croix, us Virgin Islands.

Speaker 2:

After this, for Pulse of the Caribbean podcast advertising or marketplace feature opportunities, email biz B-I-Z at pulseofthecaribbeancom. Get your ads in front of our ever-expanding Caribbean and diaspora community. Contact us at biz B-I-Z at pulseofthecaribbeancom. Engage in networking and advertising with Pulse of the Caribbean. This is the Pulse of the Caribbean News Roundup, episode 1, for the week of September 15th.

Speaker 2:

The US Virgin Islands Economic Development Park Commission, which is part of the US Virgin Islands Economic Development Authority, approved lease negotiations to establish large-scale plastic recycling operations on St Croix. Commissioners gave the green light for RePlastic Recycle LLC to move into Building 3 of the William D Roebuck Industrial Park, a 20,000 square foot space. The company, which already operates in a smaller facility, will expand its work on plastic recycling and upcycling. Mark Finch, director of Physical Plant, emphasized the importance of plastic recycling on St Croix, noting that the company produces items such as signage, furniture and even beer taps for a local brew pub using recycled material. The larger space will allow RePlastic to handle greater volumes of plastic.

Speaker 2:

And here's our final note the $143 million Halls of Justice in Castries-St Lucia will house important courts under one roof for the first time, improving St Lucia's legal system legal system. Construction is anticipated for two years under a build-operate-lease-transfer agreement through NH International. Private developer Themis Holding Limited will finance design and build the complex before leasing it to the government for 12 years. After that term years After that term the state will buy full ownership for $1. The criminal, civil, family and commercial courts will share the space. The building will have 14 courtrooms, 18 chambers for nine judges and nine magistrates and staff offices.

Speaker 2:

This podcast has been brought to you by Diamond Key, marina Yosvendike, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Have news and information you'd like to share with us. Send news releases to news at pulseofthecaribbeancom. This has been your Pulse of the Caribbean News Roundup, episode 1, for the week of September 15th. Greetings to our listeners in Haiti, new Jersey and Tanzania. Thanks for listening and do spread the word and share our podcast with others across the region and the diaspora.

Speaker 1:

I'm Keisha Blyden. See you next time, choosing Pulse of the Caribbean Caribbean News Roundup as your source for Caribbean-centered news.