The region consists of 13 island countries, from the Bahamas in the north to Trinidad and Tobago in the south; Belize, which is geographically situated in Central America; and the two nations of Guyana and Suriname, located on the north main coast of South America. Numerous countries in the area share a typical African ethnic and British colonial heritage, while Cuba and the Dominican Republic were Spanish nests, Haiti was French, and Suriname was Dutch. The dates of independence of these nations range from Haiti in 1804 to St. Kitts and Nevis in 1983. The biggest nations in regards to acreage are Guyana and Suriname, while those with the largest populations are Cuba, the Dominican Republic, and Haiti.
Politically, all Caribbean countries, with the exception of communist Cuba, have elected democratic governments. Most of the previous British colonies have parliamentary types of federal government, with the exception of Guyana, the Dominican Republic, Haiti, and Suriname, which are republics headed by presidents. In terms of local integration, 14 of the area's independent nations come from the Caribbean Community (CARICOM), with the exception of the Dominican Republic (which has observer status) and Cuba. CARICOM was formed in 1973 to stimulate regional financial integration. Some critics argue that it has been slow to promote integration, compared to other regional economic groupings, however development has actually been made in approaching a single financial market and in establishing a Caribbean Court of Justice.
The 6 OECS nations likewise share a common currency, the Eastern Caribbean dollar, with financial policy managed by the Eastern Caribbean Reserve Bank. The Caribbean Advancement Bank (CDB), headquartered in Barbados, promotes economic advancement and regional integration. With the exception of Cuba and Haiti, routine elections have actually been the standard, and for the most part have actually been complimentary and fair. In 2005, Dominica and Suriname held elections in Might, and St. Vincent and the Grenadines held elections in December. Haiti was expected to hold elections in 2005, but considerable issues and political instability led to those elections being held off numerous times, until they were eventually hung on February 7, 2006.
Successful elections eventually were hung on August 28, 2006, without the political violence that some observers had actually prepared for. Looking ahead, parliamentary elections are due in St. Lucia by December 2006, while elections in the Bahamas, Jamaica, and Trinidad and Tobago are due in 2007. (See for a listing of leaders and elections for head of government.) Although numerous Caribbean nations have preserved long democratic traditions, they are not immune from terrorist and other dangers to their political stability. In 1993, stability on St. Kitts was threatened following violent protests after challenged elections; order was restored with the help of security forces from surrounding states.
Previously in the 1980s, the government of Eugenia Charles in Dominica was threatened by a strange coup plot including foreign mercenaries. And obviously, Grenada, under the socialist-oriented federal government of Maurice Bishop, experienced a break from the democratic norm after it presumed power in an almost bloodless coup in 1979 and installed an individuals's innovative government. After the violent overthrow and murder of Bishop in 1983, the United States stepped in to restore order and end the Cuban presence on the island. Many Caribbean nations experienced a financial slump in 2001-2002 due to declines in the tourism and farming sectors, although a lot of Caribbean economies have rebounded considering that 2003.
economic recession and slow healing. The banana and sugar sectors in the Eastern Caribbean were harmed by a hurricane in wesley financial group franklin tn 2002 and a dry spell in 2003. Both sectors face uncertain futures in light of the European Union's plan to phase out preferred market gain access to from former Caribbean colonies for bananas by 2006 and for sugar by 2009. The Haitian economy experienced decrease beginning in 2001, with political instability intensifying currently hard economic conditions in the hemisphere's poorest nation. The greatest carrying out economies recently have actually been those of the Dominican Republic, sustained by the apparel sector, and Trinidad and Tobago, with substantial energy resources.
In 2004 and 2005, the area's strongest economic performers averaging growth rates over 5% for those two years, were Antigua and Barbuda, Cuba, the Dominican Republic, St. Kitts, St. Lucia, Suriname, and Trinidad and Tobago. Those nations not faring well in 2004 because of devastating cyclones and hurricanes included Haiti, with a 3. 5%% decrease in gross domestic product (GDP), and Grenada, with a GDP decline of 3%. For 2005, nevertheless, Grenada's economy rebounded with growth over 5%, while Haiti's development was 1. 8%. In Guyana, financial development has actually been stagnant or minimal over the past several years. In 2005, the economy declined 3% because of high oil prices and floods, which early in the year significantly impacted agriculture and mining activities.
Not known Incorrect Statements https://www.timeshareexitcompanies.com/wesley-financial-group-reviews/ About How To Finance An Older Car
Nonetheless, some observers have likewise been worried about the area's high level of public debt, with a number of Caribbean countries having debt levels that surpass 100% of their GDP. U.S. interests in the Caribbean vary, and consist of financial, political, and security concerns. During the Cold War, security issues tended to eclipse other policy interests. In the consequences of the Cold War, other U.S. policy interests emerged from the shadow of the East-West dispute in the Caribbean that focused on issues about the Soviet and Cuban threat. U.S. policy top priorities moved from one highlighting security issues to a brand-new focus on strengthened economic relations through trade and financial investment.
interest in the Caribbean. The Administration explains the Caribbean as America's "third border," with occasions in the region having a direct influence on the homeland security of the United States. It explains Caribbean nations as "vital partners on security, trade, health, the environment, education, regional democracy, and other hemispheric issues." The United States has close relations with most Caribbean nations, with the exception of Cuba under Fidel Castro. The U.S.-Caribbean relationship is identified by extensive financial linkages, cooperation on counter-narcotics efforts and security, and a considerable U.S. foreign assistance program supporting a range of tasks to reinforce democracy, promote financial development and development, ease poverty, and fight the AIDS epidemic in the area. Customs and Border Defense of the Department of Homeland Security. The CSI program helps ensure that high-risk containers are recognized and inspected at foreign ports prior to they are put on vessels for shipment to the United States. In September 2006, three Caribbean ports became operational CSI ports: Caucedo, Dominican Republic; Kingston, Jamaica; and Freeport, Bahamas. Other Latin American ports in the CSI program are the Main American port of Puerto Cortes, Honduras, and the South American ports of Buenos Aires, Argentina, and Santos, Brazil. In the 108th Congress, a legislative initiative required extra foreign assistance in order to improve foreign port security worldwide, however no last action was completed before the end of the session.
2279 (Hollings), in September 2004, which would have provided for the Administrator of the Maritime Administration, in coordination with the Secretary of State, to determine foreign support programs that could facilitate implementation of port security antiterrorism measures in foreign countries. The act likewise would have called for a report on the security of ports in the Caribbean Basin, including an evaluation of the efficiency of the procedures employed to improved security at such ports and an evaluation of the resources and program changes needed to maximize security at Caribbean Basin ports. In the 109th Congress, two bills would attend to foreign support programs for Caribbean Basin ports.
744 (Nelson, Bill), introduced April 11, 2005, would establish a Caribbean Basin Port Help Program. Under the legal effort, the Administrator of MARAD in the Department of Transport, in coordination with the Secretary of State, would recognize foreign support programs that might facilitate execution of port security antiterrorism steps at Caribbean Basin ports. The Administrator and the Secretary would establish a program for such help in consultation with the Organization of American States. In addition, the Secretary of Homeland Security would be needed to submit a report to Congress on status of port security in Caribbean Basin countries. S. 1052 (Stevens), the Transport Security Improvement Act of 2005, includes a provision (Section 504) that would develop a program to assist in implementation of port security antiterrorism measures in foreign countries, with particular emphasis on ports in the Caribbean Basin; this expense was presented May 17, 2005, and reported by the Senate Committee on Commerce, Science, and Transportation on February 27, 2006 (S.Rept.
2791 (Stevens), presented May 11, 2006. Increasing crime is a major security difficulty throughout the Caribbean. The murder rate in Jamaica continues to soar, with 1,445 people killed in 2004 and more than 1,600 individuals in 2005. With rate of 60 murders per 100,000 occupants in 2005, Jamaica had the highest murder rate in the world. In late February 2006, Jamaicans were shocked over the brutal killings of 6 relative, including 4 young kids in the western part of the nation. High levels of violent crime, consisting of murder and kidnaping, likewise have pestered Trinidad and Tobago and Haiti. Even smaller sized Caribbean nations like St.
On April 22, 2006, Guyana's Farming minister, along with his two brother or sisters and a security guard, were shot and killed in an apparent burglary. Gangs associated with drug trafficking, extortion, and violence are accountable for much of the criminal activity. Some observers believe that crooks deported from the United States have actually contributed to the area's rise in violent criminal offense in the last few years, although some maintain that there is no recognized link. Jamaica has advocated the advancement of a global procedure regarding the deportation of bad guys. A significant concern for Caribbean nationsthe bulk of which are net energy importershas been the rising rate of oil and the prospective impact of such increasing prices on financial growth and social stability.
Of these, wesley llc just Trinidad and Tobago is a significant oil and gas manufacturer, representing 60% of tested oil reserves and 91% of natural gas reserves in the area. The nation is likewise the largest provider of liquified natural gas (LNG) to the United States, accounting for 75% of all U.S. LNG imports. Apart from Trinidad and Tobago, Cuba also produces oil, but still imports a majority of its consumption needs. Barbados also produces a percentage of oil, which is refined in Trinidad and Tobago, but it imports 90% of its oil consumption needs. Venezuela is now providing oil to Caribbean countries on preferential terms in a brand-new program called Petro, Caribe, and there has actually been some U.S.
Excitement About What Is Wrong With Yahoo Finance Today
Given that 1980, Caribbean nations have gained from preferential oil imports from Venezuela (and Mexico) under the San Jose Pact, and given that 2001, Venezuela has supplied additional assistance for Caribbean oil imports under the Caracas Energy Accord. Petro, Caribe, nevertheless, would go further with the goal of putting in place a regional supply, refining, and transportation and storage network, and developing an advancement fund for those countries taking part in the program. How to finance a second home. Under the program, Venezuela revealed that it would provide 190,000 barrels each day of oil to the region, with nations paying market costs for 50% of the oil within 90 days, and the balance paid over 25 years at a yearly rate of 2%.
To date, 14 Caribbean nations are signatories of Petro, Caribe. Barbados, which already gets discounted petroleum rates from Trinidad, has decreased to sign the arrangement, and Trinidad, which has its own substantial energy resources, has actually declined to sign. (For extra information, see CRS Report RL33693, Latin America: Energy Supply, Political Advancements, and U.S. Policy Approaches, by [author name scrubbed], [author name scrubbed], and [author name scrubbed]) The AIDS epidemic in the Caribbean, where infection rates are among the highest outside of sub-Saharan Africa, has actually currently begun to have negative effects for economic and social development in the area. In 2005, an estimated 300,000 adults and kids in the Caribbean were reported to be coping with HIV, with the epidemic claiming 24,000 lives throughout the year, making it the leading cause of death among grownups aged 15-44 years.