The area includes 13 island countries, from the Bahamas in the north to Trinidad and Tobago in the south; Belize, which is geographically located in Central America; and the two countries of Guyana and Suriname, located on the north central coast of South America. Many nations in the area share a common 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 largest countries in regards to land area 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 actually elected democratic federal governments. The majority of the previous British nests have parliamentary types of federal government, with the exception of Guyana, the Dominican Republic, Haiti, and Suriname, which are republics headed by presidents. In regards to regional combination, 14 of the area's independent countries come from 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 financial integration. Some critics argue that it has actually been slow to promote integration, compared to other regional economic groupings, but development has been made in approaching a single economic market and in developing a Caribbean Court of Justice.
The 6 OECS countries also share a common currency, the Eastern Caribbean dollar, with financial policy managed by the Eastern Caribbean Central Bank. The Caribbean Development Bank (CDB), headquartered in Barbados, promotes economic development and local combination. With the exception of Cuba and Haiti, regular elections have actually been the standard, and for the many part have been free and fair. In 2005, Dominica and Suriname held elections in May, and St. Vincent and the Grenadines held elections in December. Haiti how to not inherit timeshare contract was anticipated to hold elections in 2005, however substantial issues and political instability resulted in those elections being postponed a number of times, till they were ultimately held on February 7, 2006.
Effective elections ultimately were held on August 28, 2006, without the political violence that some observers had 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 federal government.) Although numerous Caribbean countries have actually preserved long democratic customs, they are not immune from terrorist and other risks to their political stability. In 1993, stability on St. Kitts was threatened following violent protests after contested elections; order was restored with the help of security forces from surrounding states.
Earlier in the 1980s, the government of Eugenia Charles in Dominica was threatened by a bizarre coup plot involving foreign mercenaries. And naturally, Grenada, under the socialist-oriented federal government of Maurice Bishop, experienced a break from the democratic norm after it assumed power in an almost bloodless coup in 1979 and installed an individuals's revolutionary federal government. After the violent topple and murder of Bishop in 1983, the United States stepped in to restore order and end the Cuban existence on the island. Lots of Caribbean countries experienced an economic slump in 2001-2002 due to slumps in the tourism and agriculture sectors, although a lot of Caribbean economies https://www.globenewswire.com/news-release/2020/05/07/2029622/0/en/U-S-ECONOMIC-UNCERTAINTIES-DRIVE-TIMESHARE-CANCELLATION-INQUIRIES-IN-RECORD-NUMBERS-FOR-WESLEY-FINANCIAL-GROUP.html have rebounded because 2003.
economic recession and sluggish healing. The banana and sugar sectors in the Eastern Caribbean were damaged by a hurricane in 2002 and a drought in 2003. Both sectors face uncertain futures because of the European Union's plan to phase out preferred market gain access to from former Caribbean nests for bananas by 2006 and for sugar by 2009. The Haitian economy experienced decrease start in 2001, with political instability intensifying currently tough economic conditions in the hemisphere's poorest country. The strongest performing economies over the last few years have been those of the Dominican Republic, fueled by the garments sector, and Trinidad and Tobago, with significant energy resources.
In 2004 and 2005, the region's greatest 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 due to the fact that of ravaging hurricanes and hurricanes included Haiti, with a 3. 5%% decrease in gdp (GDP), and Grenada, with a GDP decrease of 3%. For 2005, nevertheless, Grenada's economy rebounded with growth over 5%, while Haiti's development was 1. 8%. In Guyana, financial growth has actually been stagnant or very little over the previous several years. In 2005, the economy decreased 3% since of high oil prices and floods, which early in the year seriously impacted farming and mining activities.
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Nonetheless, some observers have likewise been worried about the area's high level of public debt, with numerous Caribbean nations having financial obligation levels that surpass 100% of their GDP. U.S. interests in the Caribbean vary, and consist of financial, 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 concerns about the Soviet and Cuban danger. U.S. policy concerns shifted from one stressing security concerns to a brand-new focus on strengthened financial relations through trade and financial investment.
interest in the Caribbean. The Administration explains the Caribbean as America's "3rd border," with events in the area having a direct impact on the homeland security of the United States. It describes Caribbean countries 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 countries, with the exception of Cuba under Fidel Castro. The U.S.-Caribbean relationship is characterized by extensive economic linkages, cooperation on counter-narcotics efforts and security, and a sizeable U.S. foreign help program supporting a range of jobs to enhance democracy, promote economic development and advancement, alleviate hardship, and combat the AIDS epidemic in the area. Customs and Border Defense of the Department of Homeland Security. The CSI program helps guarantee that high-risk containers are determined and checked at foreign ports before they are put on vessels for shipment to the United States. In September 2006, 3 Caribbean ports ended up being functional CSI ports: Caucedo, Dominican Republic; Kingston, Jamaica; and Freeport, Bahamas. Other Latin American ports in the CSI program are the Central American port of Puerto Cortes, Honduras, and the South American ports of Buenos Aires, Argentina, and Santos, Brazil. In the 108th Congress, a legal initiative required extra foreign help in order to improve foreign port security worldwide, but no last action was completed prior to completion 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 recognize foreign support programs that could assist in implementation of port security antiterrorism procedures in foreign countries. 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 procedures used to improved security at such ports and an evaluation of the resources and program changes needed to make the most of security at Caribbean Basin ports. In the 109th Congress, 2 expenses would offer foreign help programs for Caribbean Basin ports.
744 (Nelson, Bill), introduced April 11, 2005, would establish a Caribbean Basin Port Support Program. Under the legislative effort, the Administrator of MARAD in the Department of Transport, in coordination with the Secretary of State, would recognize foreign support programs that might help with application of port security antiterrorism measures at Caribbean Basin ports. The Administrator and https://www.inhersight.com/companies/best/reviews/telecommute?_n=112289508 the Secretary would develop a program for such support in assessment with the Organization of American States. In addition, the Secretary of Homeland Security would be required to send a report to Congress on status of port security in Caribbean Basin nations. S. 1052 (Stevens), the Transportation Security Improvement Act of 2005, includes an arrangement (Area 504) that would establish a program to assist in application of port security antiterrorism measures in foreign nations, with specific emphasis on ports in the Caribbean Basin; this bill was presented 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 activity is a major security difficulty throughout the Caribbean. The murder rate in Jamaica continues to soar, with 1,445 individuals killed in 2004 and more than 1,600 people in 2005. With rate of 60 murders per 100,000 inhabitants in 2005, Jamaica had the greatest murder rate on the planet. In late February 2006, Jamaicans were stunned over the harsh killings of 6 family members, consisting of 4 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 sized Caribbean countries like St.
On April 22, 2006, Guyana's Farming minister, together with his two siblings and a guard, were shot and killed in an evident break-in. Gangs involved in drug trafficking, extortion, and violence are accountable for much of the crime. Some observers believe that crooks deported from the United States have added to the region's rise in violent crime in the last few years, although some maintain that there is no established link. Jamaica has advocated the development of a worldwide protocol relating to the deportation of bad guys. A major concern for Caribbean nationsthe majority of which are net energy importershas been the rising rate of oil and the prospective result of such increasing costs on economic development and social stability.
Of these, just Trinidad and Tobago is a significant oil and gas producer, representing 60% of proven oil reserves and 91% of gas reserves in the area. The nation is likewise the biggest supplier of liquified gas (LNG) to the United States, representing 75% of all U.S. LNG imports. Apart from Trinidad and Tobago, Cuba also produces oil, but still imports a majority of its usage requires. Barbados also produces a small quantity of oil, which is improved in Trinidad and Tobago, but it imports 90% of its oil intake requirements. Venezuela is now offering oil to Caribbean countries on preferential terms in a brand-new program called Petro, Caribe, and there has actually been some U.S.
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Since 1980, Caribbean nations have actually taken advantage of preferential oil imports from Venezuela (and Mexico) under the San Jose Pact, and considering that 2001, Venezuela has provided extra assistance for Caribbean oil imports under the Caracas Energy Accord. Petro, Caribe, nevertheless, would go even more with the goal of putting in location a regional supply, refining, and transportation and storage network, and establishing an advancement fund for those countries taking part in the program. What is a cd in finance. Under the program, Venezuela revealed that it would supply 190,000 barrels each day of oil to the region, with countries paying market prices for 50% of the oil within 90 days, and the balance paid over 25 years at an annual rate of 2%.
To date, 14 Caribbean countries are signatories of Petro, Caribe. Barbados, which already receives affordable petroleum rates from Trinidad, has actually declined to sign the arrangement, and Trinidad, which has its own substantial energy resources, has actually declined to sign. (For additional info, see CRS Report RL33693, Latin America: Energy Supply, Political Developments, 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 amongst the highest outside of sub-Saharan Africa, has already started to have unfavorable effects for economic and social advancement in the region. In 2005, an approximated 300,000 adults and children in the Caribbean were reported to be living with HIV, with the epidemic claiming 24,000 lives during the year, making it the leading cause of death amongst grownups aged 15-44 years.