Matthews, Campbelle steer WI Women to thrilling victory
Captain Hayley Matthews and her deputy Shemaine Campbelle played crucial knocks to lead West Indies Women to their first T20I series win over South Africa Women in 12 years in thrilling fashion here at the 3W’s Oval on Monday.
Hours after being named Women’s T20I Player of the Year by Cricket West Indies (CWI), Matthews scored her second consecutive half century of the series, with Campbelle proving to be the perfect partner, as the home side registered a six-wicket win to clinch the three-match series 2-1.
After winning the toss and choosing to bat, South Africa Women were led by a maiden T20I half century by Miane Smith, which helped them to post a respectable 147 for six in their 20 overs.
But Matthews scored 65 off 50 balls and Campbelle chipped in with 42 to lead the home side to 148 for four with nine balls remaining in the contest.
It marked the first time West Indies Women emerged victorious over the Proteas Women in a T20I series since back in 2013 when they won 2-0 in the Caribbean.
Once again it was Matthews, who was voted Player-of-the-Match and Player-of-the-Series, that spearheaded the run chase.
The skipper lost her opening partner Qiana Joseph with just 17 runs on the board, while Realeanna Grimmond scored just five before being bowled by medium pacer Ayabonga Khaka to see West Indies slip to 32 for two in the sixth over.
Campbelle then joined Matthews at the crease and the pair set about repairing the damage during an 82-run partnership that spanned 10 overs.
Matthews hit Khaka for a six and two boundaries in the eighth over that yielded 18 runs and she moved into the 40s with another boundary off Nonkululeko Mlaba in the ensuing over.
She brought up her 19th T20I half century off 39 balls when she scampered two runs off the last ball of the 11th over bowled by Mlaba.
At the end of the 15th over West Indies Women seemed on course for a comfortable victory, with 38 runs needed from 30 balls.
But Matthews was bowled off her pads by a delivery from spinner Sune Luus in the next over after hitting nine fours and one six to give South Africa an unlikely chance of victory.
And when Campbelle gifted Marizanne Kapp a simple caught and bowled opportunity it set up a tense finish with West Indies requiring 12 from 13 balls.
However, Chinelle Henry belted pacer Tumi Sekhukhune for a six and four off consecutive deliveries, before sealing the match with a drive through cover that allowed her to gather two runs.
Henry finished unbeaten on 20 off 11 balls with two fours and a six.
Kapp was South Africa’s best bowler, taking 2-27 from her four overs.
Earlier, the 20-year-old Smith scored an unbeaten 59 off 38 balls with seven fours and one six, to lead an otherwise disappointing batting display by the visitors.
South Africa was given a decent start by its top order, but was bogged down by disciplined bowling by West Indies’ spinners Afy Fletcher, Karishma Ramharack and Matthews.
Openers Tazmin Brits and Luus put on 29 runs in just 3.3 overs, until Ramharack dismissed the latter for 13.
That run rate slowed dramatically after, and when Brits lost her wicket to Fletcher for 20, they had only progressed to 57 for two in the ninth over.
But Smith provided a spark with some breathtaking shots, which helped the visitors to gain some momentum in the latter stage of the innings.
Ramharack led the way with 2-18, while Fletcher took 2-28 for the West Indies.
HON. ARLINGTON MUSGROVE GIVES REMARKS AT TCI BUSINESS OUTLOOK
Honourable guests, distinguished colleagues, esteemed Partners, and members of our beloved community, good morning.
It is with a profound sense of purpose that I address you today at the second annual Turks and Caicos Islands Business Outlook. Today’s event reflects our shared commitment to fostering an environment where sustainable, inclusive growth is more than an aspiration but a tangible reality rooted in innovation, resilience, and social equity.
Our theme, “Prioritizing Inclusive, Sustainable Growth” is both timely and essential as we navigate the complex challenges and opportunities that define our islands’ development trajectory. Vital to this pursuit is our focus on developing sustainable solutions for affordable housing, which I will explore in depth today.
A fundamental truth shared from Jeremiah 29:11: “For I know the plans I have for you, declares the Lord, plans to prosper you and not to harm you, plans to give you a hope and a future.” I’m reminded by this scripture that prosperity and hope are central to God’s divine plan for our nation. It is our moral obligation to ensure that all our people can realize this promise, beginning with adequate shelter.
The Imperative for Affordable Housing in TCI: Let us begin by framing the significance of this issue. For far too long, the lack of affordable, quality housing has constrained our social fabric and economic vitality. It impairs workforce stability, limits opportunities for upward mobility, and impedes our ability to attract investment and talent.
In the context of the Turks and Caicos Islands, where our natural beauty and climate are both our greatest assets and our greatest challenges, the need for resilient, environmentally responsible housing solutions is paramount. Affordable housing is both a social imperative and an economic necessity. Rising land prices, increasing demand, climate vulnerabilities, and limited land availability compel us to re-imagine how we approach housing development.
The Turks and Caicos Islands National Housing Policy is a Landmark Framework. In 2023, we took a decisive step forward with the launch of this Policy, a comprehensive, forward-looking blueprint designed to address these challenges holistically.
A vision realized as outlined in the Citizens’ Contract 2.0, where we committed to delivering on an ambitious agenda to turbocharge the delivery of affordable and social housing.
This policy is informed by rigorous research, community consultation, and a deep understanding of our unique development context. It emphasizes three core pillars:
1. Inclusivity: Guaranteeing equitable access to housing, ensuring individuals from all backgrounds, abilities, and income levels can afford safe, affordable, and dignified living.
2. Sustainability: Incorporating environmentally sustainable construction practices, climate resilience, and responsible land use.
3. Innovation and Partnership: Fostering public-private collaborations, leveraging technology, and mobilizing resources efficiently.
This policy aligns with our national development goals and reflects our commitment to building a society where no one is left behind.
The Housing Policy is anchored in clear strategic objectives, including:
Affordable Housing Supply: Increasing the stock of affordable units through targeted incentives and land development initiatives.
Environmental and Climate Resilience: Ensuring all new housing complies with climate-smart standards—an imperative given our vulnerability to hurricanes, rising sea levels, and extreme weather events.
Capacity Building: Strengthening our institutional frameworks and human resources to plan, develop, and sustain housing solutions effectively. Central to this is the implementation of a Mortgage Corporation by this administration. At present, the Mortgage Corporation will serve as a facilitator, working to streamline processes, provide technical support, and help lay the groundwork for expanded homeownership opportunities. The long-term vision for the corporation includes becoming a key player in delivering affordable financing, developing innovative mortgage products, and building capacity within the housing sector. Our goal is to eventually see the Mortgage Corporation act as a catalyst for sustainable housing development, but for now, it's about setting the stage and enabling progress.
Financial Accessibility: Developing innovative financing models, such as low-interest loans, grants, and subsidies tailored to different income groups. We will actively engage with our banking partners to develop a product that offers low mortgage rates for persons with low to moderate incomes. (Bankers might be the best partners for a long-term relationship; they know how to stay committed for the long haul.) Rest assured, the government is committed to facilitating this need, working closely with financial institutions to make home ownership more accessible.
Community Engagement and Empowerment: Promoting hands-on planning processes that involve local communities in decision-making, ensuring that solutions are culturally appropriate and socially acceptable.
Looking ahead, our administration is committed to expanding upon these foundations with a suite of targeted programs:
Land Allocation and Development: We are identifying and preparing parcels of land specifically for affordable housing projects, with an emphasis on environmentally sensitive development and climate resilience.
Public-Private Partnerships (PPPs): We recognize that sustainable housing development requires collaboration across sectors. We are actively engaging with developers, financial institutions, and civil society to unlock innovative solutions and investment.
Smart Housing Technologies: We are exploring the integration of sustainable building materials, green infrastructure, and energy-efficient systems to reduce long-term costs and environmental footprints.
Capacity and Skills Development: We will invest in training programs for local builders, architects, and planners, ensuring that our workforce is equipped to deliver quality and sustainable housing.
Monitoring and Evaluation: Establishing robust metrics and feedback mechanisms to assess progress, adapt strategies, and ensure accountability in our housing initiatives.
Understand the Role of Community and Stakeholders- A successful housing strategy hinges on active community involvement. We must foster a culture of collaboration, transparency, and shared responsibility here in the Turks and Caicos Islands. Our citizens’ voices must guide our planning, ensuring that solutions are tailored to local needs and aspirations.
Furthermore, the private sector’s participation is vital. By incentivizing sustainable development and responsible land use, we can catalyze investments that will benefit our people and our environment.
The Broader Vision for these islands is Sustainable, Resilient, Inclusive Communities. Imagine a Turks and Caicos where every family has access to safe, affordable, and environmentally responsible housing; where communities are resilient to climate impacts, and where economic growth is inclusive and sustainable.
This vision aligns with our broader national goals: to foster economic diversification, improve social equity, and protect our natural heritage. After all, this government exists to improve the lives of the people we serve and to build a better future for generations to come.
And now, it is a Call to Action- Ladies and gentlemen, the road ahead will require dedication, innovation, and collective effort. We must harness our resources, leverage partnerships, and remain steadfast in our commitment to developing sustainable housing solutions.
I call upon all stakeholders, government agencies, the private sector, civil society, and our citizens, and of course, a clarion call to the banks to join us in this vital endeavour. Let us work together to ensure that our islands not only remain a paradise but also evolve into a model of sustainable, inclusive living.
I reaffirm our government’s dedication to this cause. The Turks and Caicos Islands National Housing Policy is a promise to build a future where affordable, resilient, and sustainable housing is accessible to all.
As we advance, let us remember that housing is a fundamental right to human dignity, social stability, and economic prosperity. With vision, collaboration, and perseverance, we will realize this vision and secure a brighter future for generations to come.
Thank you for your attention, your partnership, and your shared commitment to the sustainable growth of our beloved Turks and Caicos Islands.
God bless you, and God bless our islands.
Caribbean leaders attending high level meeting in Nigeria
Caribbean Community (CARICOM) leaders will from Wednesday join their African counterparts for a three-day meeting of the African Export-Import Bank (Afreximbank) focusing on advancing trade, investment, and innovation across the continent,
The 32nd Annual Meetings (AAM2025) of the Egypt-based financial institution is expected to bring together an influential coalition of leaders including top business executives and academics.
Former Jamaica prime minister, PJ Patterson is among the influential figures who are scheduled to speak at the events as well as Professor Jeffrey Sachs, director of the Centre for Sustainable Development at Columbia University and Dr. Kishore Mahbubani, distinguished fellow, Asia Research Institute, National University of Singapore.
Africa’s foremost business innovation leaders such as Aliko Dangote, president and chief executive officer of Dangote Group and Tony Elumelu, chairman of Heirs Holdings, as well as Professor Ghulam Mufti of King’s College in London, will also participate .
Nigerian President Bola Ahmed Tinubu, his predecessor Chief Olusegun Obasanjo and Ambassador Albert Muchanga, the African Union Commissioner for Economic Development, Tourism, Trade, Industry Mining, are also expected to attend the event,.
They will be joined by ministers, central bank governors, investors, and industry leaders from Africa, the Caribbean, and beyond for the AAM2025 that will be held under the theme “Building the Future on Decades of Resilience”.
Afreximbank president and chairman of the board of directors, Professor Benedict Oramah, said that AAM 2025 comes at a pivotal time for Africa, “as the continent confronts global uncertainties, it is doing so with renewed resolve”
Oramah said that following the 31st AAM in The Bahamas last year, the meetings here “are about catalysing practical action, building stronger institutions to strengthen trade integration and unlocking the full potential of African innovation” thanking Tinubu for his support.
“AAM2025 is expected to deliver strong economic benefits, both in the short and long term. The main anticipated impacts include the trade and investment mobilisation, policy and institutional advancement and strengthening South-South cooperation and trade flows,” according to a statement issued by the bank.
It said that AAM2025 is also expected to facilitate significant trade and investment deals, including memoranda of understanding and public-private partnerships. The meetings are expected to catalyse billions of dollars in funding over the next five to 10 years for key strategic sectors.
“By bringing together heads of state, ministers, leaders of trade institutions, policymakers and the private sector, the meetings will advance regional dialogue on several priorities: implementing the African Continental Free Trade Area, enhancing cross-border payment systems to speed up regional transactions, strengthening Africa–Caribbean (CARICOM) economic ties through expanded trade, tourism, and joint ventures, and ensuring private sector participation in policy reforms. ”
The bank said that these discussions aim to reduce business costs, improve trade infrastructure, and deepen regional economic integration with the organisers anticipating that the event is expected to be attended by thousands of participants and media from more than It said that this year’s meetings will also mark the launch of several new initiatives.
Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa.
At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion.
Source-CMC
Dominican Republic national arrested after gun found in baby crib
The Trinidad and Tobago Police Service (TTPS) Monday said that a 33-year-old national from the Dominican Republic had been arrested after an AR-15 rifle with 100 rounds of ammuntion had been found in a baby crib.
In a statement, the police said that the woman, whom it did not name, was arrested for possession of a firearm and ammunition, following an operation on Sunday.
According to the police, during the intelligence-led operation, officers of the Gang Unit and Arima Intelligence and Operations Team proceeded to the Cunupia district in central Trinidad where they conducted a search of a house.
“A female suspect who was in the house with a baby at the time of the exercise is alleged to have displayed suspicious behaviour and attempted to hide an object under a crib mattress.
The object was found to be an AR-15 rifle, loaded with a magazine, containing 100 rounds of 5.56 ammunition,” the police statement said, adding that the “woman was arrested in connection with the find”.
Source- CMC
Iran launches missiles at US bases in Qatar and Iraq
Qatar has temporarily closed its airspace after the US and the UK told their citizens in the country to shelter in place "until further notice".
The US embassy in Qatar suggested in a notice online that Americans do so "out of an abundance of caution". The UK government said it was issuing its warning in response to the US alert.
The warnings come after the State Department told US citizens in international locations to "exercise increased caution," after the US bombed three nuclear sites in Iran on Saturday. Iran has threatened to retaliate.
In a statement, Qatar's Ministry of Foreign Affairs said the closure of its airspace was to ensure the safety of residents and visitors.
In a separate statement in response to the embassy notice, the foreign ministry said the warning did "not necessarily reflect the existence of specific threats".
"The security situation in the country is stable," the statement said, adding that "the relevant authorities are closely monitoring the situation and are ready to take all necessary measures to ensure the safety of citizens, residents, and visitors".
Meanwhile, Iran has launched missiles at US airbases in Qatar and Iraq in response to strikes on its nuclear sites on Saturday, state media reports. Explosions are heard in Doha after a "credible threat" of an Iranian missile attack on a US-run airbase in Qatar
Qatar is home to the largest US military base in the Middle East, Al Udeid Air Base. About 8,000 US citizens live there, according to the State Department.
It is also home to US CENTCOM's headquarters for all its air operations in the Middle East, where British military personnel also serve on rotation.
The US has about 40,000 troops stationed in the Middle East.
THREE DAYS FROM MONDAY JUNE 23RD, 2025
GENERAL SITUATION: A surface trough extending southwestward from a weak low north of the area may spark a few showers, but mostly fair skies with sunshine and variable cloud cover will prevail today.
SPECIAL WARNINGS: Beachgoers and swimmers should remain vigilant due to the risk of rip currents especially for eastern shorelines and all Atlantic exposures.
WEATHER: Partly sunny with a medium (40 percent) chance of isolated showers this afternoon. Mostly fair with isolated showers possible tonight.
WINDS: Northeast to east at 10 to 15 knots
SEAS: Caicos Bank – 3 feet or less; Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 3 to 5 feet
DAYTIME HIGH TEMPERATURE 91°F 33°C HEAT INDEX 103°F 39°C
OVERNIGHT LOW TEMPERATURE 81°F 27°C
SUNSET: 07:34 PM
NEXT LOW TIDE: 01:10 PM (0.3 FT)
NEXT HIGH TIDE: 07:46 PM (3.3 FT)
EXTENDED FORECAST: The surface trough will drift northwest and dissipate late Tuesday, allowing Atlantic high pressure to extend westward across the region. This pattern will support breezy conditions, moderate to rough seas, and occasional showers or thunderstorms over the next couple of days.
TUESDAY: A low (30 percent) chance of scattered showers in the morning, then a medium (60 percent) chance of showers and isolated thunderstorms in the afternoon. New total rainfall accumulation between a quarter to a half an inch (0.25 to 0.50 in). Partly cloudy, with a high near 91°F (33°C).
TUESDAY NIGHT: A medium (40 chance) of showers and possibly an isolated thunderstorm after 8 pm. Partly cloudy, with a low around 80°F (26°C)
ADVISORY: Small Craft Caution
WINDS: East to southeast at 10 to 20 knots
SEAS: Caicos Bank & Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 3 to 6 feet
SUNRISE: 06:07 AM
SUNSET: 07:35 PM
LOW TIDE: 02:21 AM (0.7 FT) 02:03 PM (0.3 FT)
HIGH TIDE: 07:56 AM (2.3 FT) 08:38 PM (3.3 FT)
WEDNESDAY: Isolated showers possible in the morning, then a low (20 percent) chance of showers in the afternoon. New total rainfall accumulation between a quarter of an inch (0.25 in). Partly cloudy, with a high near 91°F (33°C).
WEDNESDAY NIGHT: Mostly fair, with a low around 81°F (27°C)
ADVISORY: Small Craft Advisory
WINDS: East to southeast at 15 to 20 knots, with higher gusts at times.
SEAS: Caicos Bank & Atlantic Nearshore – 2 to 4 feet; Atlantic Offshore – 4 to 6 feet, increasing up to 7 feet by the evening
SUNRISE: 06:07 AM
SUNSET: 07:35 PM
LOW TIDE: 03:11 AM (0.7 FT) 02:55 PM (0.3 FT)
HIGH TIDE: 08:46 AM (2.3 FT) 09:29 PM (3.3 FT)
TCI Police benefits from the Train the Trainer program
The International Policing Assistance Service (IPAS) is currently delivering a comprehensive eight-week ‘Train-the-Trainer’ programme to police officers from Caribbean British Overseas Territories, marking a significant step in enhancing armed policing capacity across the region.
The Royal Turks and Caicos Islands Police Force (RT&CIPF) has deployed two officers from its Tactical Unit to undertake the training.
The first phase of the programme, which concluded on 20 June, focused on Armed Response Vehicle (ARV) tactics.
ARVs are deployed in situations involving suspected firearms or threats to life, and the training aims to equip officers with advanced tactical skills in high-risk vehicle encounters. Participants are learning de-escalation techniques, safe suspect extraction methods, and detention procedures that prioritize officer safety and operational control.
This training is delivered by the UK Home Office’s Firearms Subject Matter Experts, supported by National Firearms Instructors from Police Scotland and Greater Manchester Police. Their expertise ensures the training aligns with the highest UK policing standards while being tailored to the unique operational environments of the Overseas Territories.
Developed in collaboration with Police Commissioners across the British Overseas Territories, this initiative is part of a broader effort to standardize firearms training and operational capabilities across the region.
Officers from Anguilla, the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands are participating in this programme, with the goal of returning to their home forces as certified trainers.
Superintendent Jason James, head of the RT&CIPF Strategic Operations, stated, “The provision of Armed Response Vehicles is an essential element of public safety across the Overseas Territories.
“By undertaking this training through a sustainable train-the-trainer model (funded by the UK Government), it will assist in our aim to build safer, more resilient communities across the TCI.
This initiative strengthens not only individual officer capability but also regional collaboration, creating a unified and cohesive armed policing framework, whilst ensuring that tactics and procedures are adapted to the local environment."
Athletics: Jamaica has to offer more support to its professional athletes
Legendary Trinidadian sprinter Ato Boldon believes that if Jamaica does not do more to assist its professional athletes, they will lose them to countries which are willing to offer them lucrative contracts to switch allegiance.
His comments have come following recent reports that four of its premier athletes; discus thrower Roje Stona, long jumper Wayne Pinnock, shot putter Rajindra Campbell and World Under-20 triple jump record holder Jaydon Hibbert, were in the process of completing a move to Türkiye.
According to reports, Türkiye is offering a US$500,000 signing bonus, monthly stipends, and six-figure incentives for podium finishes at major championships.
Speaking during an interview on Isports on i95.5 FM on Saturday, the 51-year-old Boldon, a four-time Olympic medalist, said the Jamaica Athletics Administrative Association (JAAA) needed to urgently find a solution.
“Their bigger problem now is that people have grown so frustrated with how Jamaica supports their pro athletes that they are losing all these athletes to Turkey.
“When you see what Turkey is offering, you realise that it’s not going to be a 2025 problem, it’s going to be an ‘it started in 2025 problem'” Boldon said.
“So now a country like Türkiye, and don’t forget there are other countries that have a history like Bahrain and others, but there are other countries who that is their national policy, so Jamaica has other problems on the horizon.”
Boldon said while he did not believe the situation was “an emergency” for Jamaica just yet, he said Jamaica needed to treat their professional athletes better.
He explained that while it was the norm for athletes to switch allegiance, Jamaica could ill afford to lose its world class athletes because of its smaller pool.
“I don’t think it is an emergency for Jamaica yet, but I know they are already having meetings about it and it is clearly something that has to be addressed. I think they are going to have to get the private sector to come and maybe create a fund or something for their athletes because this is the era of NIL [name, image and likeness].
“These kids are not like us. They don’t believe that they have to be broke while everyone else around us is rich. So, these kids are looking around and going, ‘If Jamaica doesn’t care enough to support me as an athlete winning medals for them, then maybe this one-way allegiance and support is for the birds'” Boldon said.
“The truth is that there are tons of athletes from America who are running for Liberia and other countries now and there are tons of Americans who have changed allegiance to Nigeria.
“So, the truth is that if four Jamaicans switched that is an emergency in Jamaica, but it is not an emergency to the IOC or to World Athletics,” he added.
Source- CMC
Barbados to receive nearly US$60 million from IMF
The executive board of the International Monetary Fund (IMF) Friday said it had concluded the fifth and final reviews of the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) arrangements with Barbados.
The Washington-based financial institution said that as a result of the completion of the reviews, Barbados will be allowed to draw down the US$19 million under the EFF arrangement and US$39 million under the RSF arrangement.
It said this brings the total disbursements under the EFF arrangement to US$116 million and US$193 million) under the RSF arrangement.
According to the IMF, economic activity in 2024 remained robust, with growth estimated at four per cent, driven by tourism, construction, and business services. Inflation moderated to an average of 1.4 per cent due to easing global commodity prices and prices of domestic goods and services.
The IMF said that the external position strengthened further, with the current account deficit narrowing to 4.5 per cent of gross domestic product (GDP), supported by tourism receipts, declining import prices, and one-off current transfers.
It said gross international reserves reached US$1.6 billion at end-2024, equivalent to over seven months of import cover, providing continued strong support to the exchange rate peg.
According to the financial institution’s Barbados’ near-term outlook is stable and that growth is expected to reach 2.7 per cent in 2025, supported by construction of tourism-related projects and government investment.
It said inflation is expected to pick up in 2025 due to the rising cost of non-fuel imports and some domestic agricultural products.
“Nevertheless, risks to the outlook are tilted to the downside, amidst the highly uncertain external economic environment and Barbados’ continued vulnerability to global shocks and natural disasters,” the IMF warned.
It said programme performance has remained strong. All quantitative performance criteria and indicative targets were met. The authorities exceeded the primary fiscal surplus target for in financial year 2024/25 and are targeting 4.4 per cent of GDP for financial year 2025/26.
Public debt has fallen below 105 per cent of GDP, and the authorities remain committed to bringing it down to 60 per cent of GDP by financial year 2035/36.
The IMF said Barbados met the EFF structural benchmarks for the review, including completing the assessment of human resource needs at the Barbados Customs and Excise Department, preparing a public-private partnership (PPP) framework, and developing a daily liquidity forecasting framework.
“Both reform measures for the RSF fifth review were also implemented. Key elements to strengthen the integration of climate concerns into public financial management have been completed, including the development of project appraisal guidelines, the deepening of fiscal risk analysis, and the preparation of the PPP framework. The Central Bank of Barbados has also included physical climate risk analysis in its bank stress testing,” it added.
IMF deputy managing director, Bo Li, said the implementation of Barbados’ homegrown Economic Recovery and Transformation programme has remained strong, supported by the EFF and the RSF arrangements. ‘
Li said the completion of the fifth and final reviews marks the successful conclusion of the Fund arrangements.
“While the outlook is stable, risks remain tilted to the downside, given the highly uncertain external economic environment and Barbados’ vulnerability to shocks and natural disasters. The authorities remain strongly committed to ensuring macroeconomic stability and implementing structural reforms to boost potential growth and build resilience.”
Li said maintaining strong fiscal surpluses will be necessary to achieve the public debt target of 60 per cent of GDP by the financial year 2035/36.
“The authorities’ focus on strengthening revenue mobilization and improving public financial management is appropriate. These measures will be key to preserving fiscal sustainability and creating space for public investment. Finalizing ambitious reforms of state-owned enterprises is a priority. The authorities are taking the necessary steps to mobilize external financing.”
Li said that the exchange rate peg remains a critical anchor for macroeconomic stability, supported by ample international reserves.
“Measures have been taken to strengthen the monetary policy framework and financial safety nets. Efforts to enhance the local payments market and infrastructure are advancing, with the goal of moving to a digital payments system in 2026.
“Reforms to improve the business environment and boost growth potential are key. Important measures include advancing the digitalization of government services and investing in skills and education. The authorities focus on boosting macroeconomic resilience to natural disasters and facilitating the transition to renewable energy is welcome,” Li added.
Source- CMC
Energy chamber has warning for Trinidad and Tobago following new European taxes
The Energy Chamber of Trinidad and Tobago says Europe has begun the process of introducing new taxes on imports of some petrochemicals, like ammonia, and other products based on the carbon emissions associated with the particular product.
“As the largest exporter of ammonia in the world, there should be urgency in addressing issues for ensuring sustained trade with one of the largest export markets of the commodity,” the Energy Chamber said, noting that Trinidad and Tobago is the largest exporter of ammonia in the world.
It said in 2024, the country produced more than four million tons and exported almost all of it, generating substantial foreign exchange in the process. The Energy Chamber said most ammonia goes into the production of fertilisers, though there are other uses.
It said the largest export market for ammonia is the United States which accounts for approximately 25 per cent of the exports followed by Morocco 16 per cent, with both Switzerland and Mexico accounting for nine per cent.
The Energy Chamber said that one of the major trading segments of importers of ammonia from Trinidad and Tobago is the European Union (EU) and the United Kingdom, which together accounts for 21 percent of ammonia imported from Port of Spain.
But it said that both the European Community and the United Kingdom are currently implementing Carbon Border Adjustment Mechanisms (CBAMs) and that the EU has begun the process of introducing new taxes on imports of some petrochemicals like ammonia and other products, such as cement based on the carbon emissions associated with the particular product.
It said the United Kingdom has also begun the implementation of similar taxes.
“The measures are aimed at addressing carbon leakage by adjusting the prices of commodities to ensure that producers do not avoid carbon taxes levied against domestic production in the importing market, by offshoring production to jurisdictions without carbon pricing mechanisms.
“This has serious implications for exporters of the commodities that may attract CBAMs, including Trinidad and Tobago,” the Energy Chamber said, noting that imports of ammonia into the EU, UK and other markets adopting CBAMs will be taxed based on their carbon emissions, “making our exports less competitive against producers with lower carbon intensity or which have had carbon taxes levied in the producing nation.
“This represents a serious challenge to our petrochemical producers, and this challenge is likely to only increase, as more jurisdictions introduce similar measures,” the Chamber said, noting that ammonia production generates CO2 as a by-product, and therefore typically has a high carbon intensity.
It said that there are ways to reduce its carbon footprint, through either substituting green hydrogen produced from green electricity and water or through capturing the CO2 produced and sequestering it either underground in depleted oil or gas reservoirs (Carbon Capture and Sequestration), but that both require significant investment.
The Energy Chamber said plans are already in place to develop a green hydrogen plant in Point Lisas in west central Trinidad and that there are also plans in place to develop CCS projects in Trinidad.
“Projects like these should be executed as quickly as possible to meet the CBAM requirements but also to develop further low carbon initiatives within the country.”
The Energy Chamber said that in addition, one vital step to meet the CBAM requirements is to implement a robust national system of monitoring, reporting and verifying emissions, usually called the MRV system.
“Importing countries with CBAMs are not just going to take a company’s own data about the emissions associated with a particular commodity and they will want to see that there is a robust and credible national system to measure emissions. This will also be important for any fair carbon taxation system.
“Industry does not typically call for new regulations from the Government, but in this case Trinidad and Tobago does urgently need a national legislated MRV system to be put in place,” the Energy Chamber said, adding that it is committed to working with all its members and with government to make sure that a robust MRV system is legislated and operationalised.
Source-CMC