The area 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 2 nations of Guyana and Suriname, situated on the north main coast of South America. Many countries in the area share a typical African ethnic and British colonial heritage, while Cuba and the Dominican Republic were Spanish colonies, Haiti was French, and Suriname was Dutch. The dates of self-reliance of these nations range from Haiti in 1804 to St. Kitts and Nevis in 1983. The biggest countries in regards to acreage are Guyana and Suriname, while those with the biggest populations are Cuba, the Dominican Republic, and Haiti.
Politically, all Caribbean nations, with the exception of communist Cuba, have chosen democratic governments. The majority of the previous British nests have parliamentary kinds of federal government, with the exception of Guyana, the Dominican Republic, Haiti, and Suriname, which are republics headed by presidents. In regards to local integration, 14 of the region's independent nations belong to the Caribbean Neighborhood (CARICOM), with the exception of the Dominican Republic (which has observer status) and Cuba. CARICOM was formed in 1973 to stimulate regional economic integration. Some critics argue that it has actually been slow to promote integration, compared to other regional financial groupings, however progress has been made in moving towards a single economic market and in establishing a Caribbean Court of Justice.
The six OECS nations also share a typical currency, the Eastern Caribbean dollar, with financial policy handled by the Eastern Caribbean Reserve Bank. The Caribbean Advancement Bank (CDB), headquartered in Barbados, promotes economic development and regional integration. With the exception of Cuba and Haiti, regular elections have been the norm, and for the many part have been complimentary and reasonable. In 2005, Dominica and Suriname held elections in May, and St. Vincent and the Grenadines held elections in December. Haiti was anticipated to hold elections in 2005, but significant problems and political instability led to those elections being held off numerous times, until they were ultimately hung on February 7, 2006.
Successful elections eventually were hung on August 28, 2006, without the political violence that some observers had actually anticipated. 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 lots of Caribbean nations have kept long democratic customs, they are not immune from terrorist and other threats to their political stability. In 1993, stability on St. Kitts was threatened following violent demonstrations after challenged elections; order was restored with the support of security forces from surrounding states.
Previously in the 1980s, the federal government of Eugenia Charles in Dominica was threatened by an unusual coup plot including foreign mercenaries. And naturally, Grenada, under the socialist-oriented government of Maurice Bishop, experienced a break from the democratic standard after it assumed power in a nearly bloodless coup in 1979 and installed an individuals's revolutionary federal government. After the violent overthrow and murder of Bishop in 1983, the United States intervened to bring back order and end the Cuban existence on the island. Lots of Caribbean countries experienced a financial slump in 2001-2002 due to downturns in the tourist and farming sectors, although the majority of Caribbean economies have actually rebounded given that 2003.
financial recession and slow recovery. The banana and sugar sectors in the Eastern Caribbean were damaged by a tropical storm in 2002 and a drought in 2003. Both sectors face uncertain futures due to 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 start in 2001, with political instability exacerbating currently difficult economic conditions in the hemisphere's poorest country. The strongest carrying out https://www.facebook.com/wesleyfinancialgroup economies over the last few years have been those of the Dominican Republic, sustained by the garments sector, and Trinidad and Tobago, with considerable energy resources.
In 2004 and 2005, the area's strongest financial entertainers averaging development rates over 5% for those 2 years, were Antigua and Barbuda, Cuba, the Dominican Republic, St. Kitts, St. Lucia, Suriname, and Trinidad and Tobago. Those nations not prospering in 2004 since of devastating typhoons and tropical storms consisted of Haiti, with a 3. 5%% decline 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 growth was 1. 8%. In Guyana, financial development has actually been stagnant or minimal over the past a number of years. In 2005, the economy declined 3% because of high oil costs and floods, which early in the year badly affected agriculture and mining activities.
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Nonetheless, some observers have actually also been concerned about the area's high level of public financial obligation, with a number of Caribbean nations having financial obligation levels that go beyond 100% of their GDP. U.S. interests in the Caribbean are varied, and consist of economic, political, and security issues. Throughout the Cold War, security issues tended to eclipse other policy interests. In the after-effects of the Cold War, other U.S. policy interests emerged from the shadow of the East-West conflict in the Caribbean that focused on issues about the Soviet and Cuban danger. U.S. policy concerns shifted from one emphasizing security issues to a new focus on strengthened economic relations through trade and investment.
interest in the Caribbean. The Administration describes the Caribbean as America's "3rd border," with occasions in the region having a direct effect on the homeland security of the United States. It explains Caribbean countries as "crucial partners on security, trade, health, the environment, education, regional democracy, and other hemispheric concerns." The United States has close relations with most Caribbean countries, with the exception of Cuba under Fidel Castro. The U.S.-Caribbean relationship is identified by comprehensive economic linkages, cooperation on counter-narcotics efforts and security, and a considerable U.S. foreign help program supporting a variety of jobs to strengthen democracy, promote financial development and advancement, ease hardship, and fight the AIDS epidemic in the area. Custom-mades and Border Security of the Department of Homeland Security. The CSI program helps ensure that high-risk containers are determined and inspected at foreign ports prior to they are placed 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 effort called for extra foreign help in order to enhance foreign port security worldwide, however no last action was completed prior to the end of the session.
2279 (Hollings), in September 2004, which would have offered for the Administrator of the Maritime Administration, in coordination with the Secretary of State, to identify foreign assistance programs that might help https://www.inhersight.com/companies/best/industry/financial-services with execution of port security antiterrorism procedures in foreign nations. The act likewise would have called for a report on the security of ports in the Caribbean Basin, consisting of an evaluation of the efficiency of the steps employed to improved security at such ports and an assessment of the resources and program changes required to optimize security at Caribbean Basin ports. In the 109th Congress, 2 bills would attend to foreign help programs for Caribbean Basin ports.
744 (Nelson, Costs), presented April 11, 2005, would develop a Caribbean Basin Port Assistance Program. Under the legislative initiative, the Administrator of MARAD in the Department of Transport, in coordination with the Secretary of State, would recognize foreign help programs that could help with execution of port security antiterrorism steps at Caribbean Basin ports. The Administrator and the Secretary would establish a program for such assistance in assessment with the Organization of American States. In addition, the Secretary of Homeland Security would be required to submit a report to Congress on status of port security in Caribbean Basin countries. S. 1052 (Stevens), the Transportation Security Enhancement Act of 2005, includes an arrangement (Section 504) that would develop a program to facilitate implementation of port security antiterrorism steps in foreign nations, with specific focus on ports in the Caribbean Basin; this expense was introduced May 17, 2005, and reported by the Senate Committee on Commerce, Science, and Transport on February 27, 2006 (S.Rept.
2791 (Stevens), introduced May 11, 2006. Increasing criminal offense is a significant security difficulty throughout the Caribbean. The murder rate in Jamaica continues to skyrocket, with 1,445 people eliminated in 2004 and more than 1,600 people in 2005. With rate of 60 murders per 100,000 residents in 2005, Jamaica had the highest murder rate worldwide. In late February 2006, Jamaicans were surprised over the ruthless killings of six family members, including 4 young kids in the western part of the nation. High levels of violent criminal offense, consisting of murder and kidnaping, also have pestered Trinidad and Tobago and Haiti. Even smaller Caribbean nations like St.
On April 22, 2006, Guyana's Agriculture minister, along with his 2 siblings and a security personnel, were shot and killed in an evident robbery. Gangs associated with drug trafficking, extortion, and violence are responsible for much of the crime. Some observers believe that criminals deported from the United States have contributed to the region's rise in violent criminal offense over the last few years, although some maintain that there is no recognized link. Jamaica has promoted the development of an international procedure regarding the deportation of bad guys. A major concern for Caribbean nationsthe bulk of which are net energy importershas been the increasing cost of oil and the possible impact of such increasing costs on economic growth and social stability.
Of these, only Trinidad and Tobago is a significant oil and gas producer, representing 60% of tested oil reserves and 91% of natural gas reserves in the region. The nation is also the largest supplier of liquified gas (LNG) to the United States, accounting for 75% of all U.S. LNG imports. Apart from Trinidad and Tobago, Cuba likewise produces oil, however still imports a bulk of its intake requires. Barbados likewise produces a little amount of oil, which is fine-tuned in Trinidad and Tobago, but it imports 90% of its oil consumption needs. Venezuela is now offering oil to Caribbean countries on preferential terms in a new program referred to as Petro, Caribe, and there has been some U.S.
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Because 1980, Caribbean countries have actually taken advantage of preferential oil imports from Venezuela (and Mexico) under the San Jose Pact, and since 2001, Venezuela has provided extra assistance for Caribbean oil imports under the Caracas Energy Accord. Petro, Caribe, nevertheless, would go further with the objective of putting in place a local supply, refining, and transport and storage network, and developing a development fund for those nations taking part in the program. How long can i finance a used car. Under the program, Venezuela revealed that it would provide 190,000 barrels daily of oil to the area, with nations paying market value 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 countries are signatories of Petro, Caribe. Barbados, which currently gets discounted petroleum rates from Trinidad, has declined to sign the contract, and Trinidad, which has its own substantial energy resources, has actually decreased to sign. (For additional info, 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 beyond sub-Saharan Africa, has already started to have negative effects for financial and social development in the region. In 2005, an approximated 300,000 grownups and kids wesley financial group jobs in the Caribbean were reported to be coping with HIV, with the epidemic claiming 24,000 lives during the year, making it the leading cause of death among adults aged 15-44 years.