Connect with us

News

TCI OUT OF RECESSION; PREMIER’S APPROACH CREDITED WITH FAVOURABLE S&P RATING

Published

on

#TurksandCaicos, June 7, 2021 – The Turks and Caicos Islands are no longer in a recession.  In fact, money is flowing so much better since that announcement was made in October 2020, that the TCI has not needed to draw down on the $80 Million dollar loan it received. 

The Coronavirus Pandemic plunged the economy of Turks and Caicos so low that it was estimated losses were at 22 million dollars per month.  At one point, these islands were labelled the worst hit in the world (per capita) due to the impact on the travel industry of the global health crisis; that assessment had come from the World Travel and Tourism council. 

In a press conference Wednesday (June 2) evening, Premier and Finance Minister Washington Misick made the announcement that indeed TCI was no longer experiencing negative growth and that the country was awarded a Triple B plus rating with a positive outlook. 

An outstanding feat, which he boldly and explicitly credited to the Goodness of God.

 The Premier also said this Triple B+ rating will not only give TCI the financial reputation it needs to fulfill his party’s ambitious contract to dramatically improve on infrastructure and establish sound institutions  but it demonstrates the confidence by investors here and incoming about the buoyancy of the Turks and Caicos economy. 

When his Cabinet Ministers spoke at the press conference held 103 days after the PNP took office, they credited the Premier with ensuring the country was able to secure this rating. 

Interviews within the territory and the Premier’s ability to negotiate a shift in the rating’s time line gave his team the opportunity to complete a sound and rapidly approved FSPS, which is the Financial Strategy of the islands for the next four years. 

Hon Washington Misick was able to buy time with Standard & Poor’s which came in for its assessment right around the time of the general elections.  S&P awaited the strategy, which got rapid approval by the UK Foreign Commonwealth and Development Office and now, the Turks and Caicos Islands stand as a financial success story, with a miraculous turn around in national earnings and what the Premier called, “a bright future”.  

Continue Reading

News

TCI Delegation shines at Caribbean Renewable Energy (CREF) Forum 2024 held in Miami

Published

on

PRESS RELEASE

FROM THE

MINISTRY OF PUBLIC SAFETY & UTILITIES

 

May 8th, 2024 – The Caribbean Renewable Energy Forum (CREF) 2024 concluded last week in Miami, marking another milestone in advancing the region’s energy agenda. This year’s forum, held from April 24-27, at the JW Marquis Hotel in downtown Miami, attracted some of the most distinguished names and advocates in the field of renewable energy.

The delegation from The Turks and Caicos Islands led by Hon. Kyle Knowles of the Ministry of Public Safety and Utilities included Permanent Secretary Mrs. Bridgette Newman, Energy and Utilities Commissioner Mr.  Delano R. Arthur, Energy Analyst Dr. Eric F. Salamanca, Senior Legal Drafter Ms.  Priscilla Paquette, and Executive Administrator Ms.  Jasmine Malcolm.

Hon. Knowles was among the high-caliber panelists in the session called “Caribbean Leadership: Delivering on the Vision” where he highlighted the policy directions of TCI government towards transitioning to renewable energy. Hon. Knowles served as a panelist, discussing the transformative strategies required to integrate renewable technologies across the Inland territory, Turks and Caicos Islands (a UK Overseas Territory Caribbean). His insights on policy enhancements and infrastructural development were met with high interest and acclaim, underscoring his pivotal role in shaping the energy landscape.

Commissioner Delano R. Arthur, a key transformative leader in the energy sector, presented a compelling paper titled “Renewable Energy and Resource Bill for the Turks and Caicos Islands.” His presentation highlighted the legal framework for transition to renewable energy, interconnection agreement, licensing among others. He also emphasizes the use of mature commercial technology, rather than emerging technologies that have not been proven in commercial scale.  He also presented an approach to overcoming logistical and financial challenges in TCI. Com. Arthur’s pragmatic and innovative solutions offered a visionary perspective that resonated with the attendees.

Dr. Salamanca, and Atty. Paquette, also contributed to a roundtable discussion on Regulatory Framework led by the Caribbean Development Banks’ Mr. Joseph Williams and Mr. William Hinds, each bringing unique viewpoints and solutions to the challenges facing the TCI energy sector.

The attendance at year’s CREF also provided opportunity to establish networks. Among the most notable side event meeting was with the Caribbean Development Bank (CDB) where the TCI delegates discussed various projects in support of transition to green/renewable energy in the Turks and Caicos Island.

Commenting on his first CREF, the Hon Minister noted, “I am pleased to have had the opportunity to participate in the Caribbean Renewable Energy Forum (CREF) held in Miami, Florida. The Forum provided a valuable platform for discussions on the advancement of renewable energy solutions in the Caribbean region.

During the event, I engaged with key stakeholders, industry experts and government officials to exchange ideas on strategies to promote sustainable energy development. Renewable energy plays a crucial role in enhancing energy security, reducing greenhouse gas emissions and fostering economic growth in our region.

He concluded, “I am committed to working collaboratively with partners both regionally and globally to further renewable energy initiatives and accelerate the transition to a more sustainable energy future. Our participation in events such as CREF our underscores our dedication to advancing clean energy solutions and building a more resilient and sustainable energy landscape for the benefit of our citizens.”  

Continue Reading

Health

AstraZeneca withdraws COVID vaccines after millions took their jabs

Published

on

Rashaed Esson

Staff Writer 

 

May 8th, 2024 – After millions of people took the AstraZeneca vaccine as their choice of vaccination during the COVID-19 pandemic, the organization announced on March 5, that  it is withdrawing its vaccines from the market worldwide, effective as of May 7 as it was reported to cause side effects.

It is said 170 countries received doses of AstraZeneca; it was expected 35.3 million doses would be shared with 36 Caribbean and Latin American countries through the COVAX program, according to PAHO.

First reported by the Telegraph, the side effects are identified as blood clots and low blood platelet counts.  In fact, the medical issues have reportedly been linked to 81 confirmed deaths in the UK alone.  Many others are suffering some other medical injury due to the vaccine popularized as an answer to the then new virus.

AstraZeneca is also being sued by more than 45 affected people.

The vaccine, known as Vaxzevria, the Telegraph informs, can no longer be used in the European Union and it will be the same for other countries and the UK in the coming months.  Over 17 million doses made it into EU countries.

Reports say AstraZeneca made the revelations of the side effects in court documents, adding that the withdrawal of their vaccine is also due to a decrease in demand.

Photo Caption: Public Health Nurse, Patricia Coates (left), administers Daniel Adams’ first dose of the AstraZeneca coronavirus (COVID-19) vaccine, during the second COVID-19 Vaccination Blitz at the National Arena in St. Andrew, on Saturday (April 3).

JIS photo from 2021. 

Continue Reading

News

DTR AND DECR HOST STAKEHOLDERS MEETING WITH INSURANCE COMPANIES TO IMPROVE COVERAGE FOR JETSKI OPERATORS

Published

on

PRESS RELEASE

 FROM THE DEPARTMENT OF TOURISM REGULATIONS AND THE DEPARTMENT OF ENVIRONMENTAL AND COASTAL RESOURCES

 

Providenciales, Turks and Caicos Islands, 8th May 2024 – The Department of Tourism Regulations aims to bridge the gap between insurance companies and water sports operators struggling to acquire adequate business insurance. The goal is to create a robust and sustainable tourism product that ensures safety and reliability for all stakeholders. On April 30, 2024, the DTR hosted a meeting with four insurance companies to address concerns regarding liability risks, enhance coverage options, and explore avenues to bolster safety measures through comprehensive insurance provisions

The meeting involved key representatives from prominent insurance companies, namely from ‘NW Hamilton’: Elianise Rigby and Jewel Ewing; ‘JS Johnson’: Queen Been; ‘CSC Insurance’: Alicia Palmer; and GK Insurance: Marie Beckford. Government officials present from DTR: Director Avi Adams, Deputy Director Talia Thomas, Regulation Development Specialist Sasha Arthur, Quality Assurance Officer Donessia Gardiner, Communication Officer Alique Harvey, and DECR’s Deputy Director Jatavia Howell, as well as Experience Turks and Caicos representative Strategic Development Manager Courtney Robinson, to develop tailored solutions that meet the unique needs of Jetski operators within the local tourism landscape.

Currently, insurance options for Jetski owners in the Turks and Caicos Islands are limited, posing challenges for operators and regulators. Through collaborative efforts with insurance providers, the DTR is committed to expanding coverage options and streamlining insurance processes to promote compliance and enhance safety standards across the industry.

“The Department of Tourism regulations is in charge of ensuring that the tourism product of the Turks and Caicos Islands is robust and sustainable. Upon setting regulations, we realize that some companies, local companies struggle with obtaining insurance,” said Avi Adams, Director at the Department of Tourism Regulations. “Our department, along with the DECR and the TCIG at large, is on a mission to bridge that gap to ensure that local vendors can obtain the insurance that is needed to offer a tourism product that can be safe and reliable, while also helping to mitigate some of the risks that insurance companies may have challenges with.”

Remarking on the proceedings of the meeting, Queen Been of J.S Johnson Insurance said “I am grateful to the Department of Tourism regulations in the TCI for hosting a timely, informative presentation on enacting laws for best practices for water sports and other tourism businesses. This will be of interest to all stakeholders, and the safety of our guests. Thank you for the opportunity to attend and lend my voice to encourage responsible management of our tourism product by all.”

The meeting outcome will inform the DTR’s ongoing efforts to implement regulatory measures that prioritize safety without stifling the growth of recreational activities vital to the local tourism sector. Through continued collaboration with stakeholders, the department remains steadfast in its commitment to fulfilling its promises and fostering a climate of trust, transparency, and accountability within the industry.

Continue Reading

FIND US ON FACEBOOK

TRENDING