Connect with us

News

Money transfer centers in TCI, are they supporting or inhibiting potential economic growth?

Published

on

#TurksandCaicos, July 20, 2022 – Shocked but not surprised. This is how I would describe the amount of outgoing remittances from TCI. I never grasped the gravity nor the dynamics of these independent financial outlets until recently. This sector continues to evolve, but not necessarily in the best interest of our country.

Financial remittances have long been recognized as an important developmental vehicle associated with migration.  It is commonly known as the money or goods that migrants send back to families and friends in countries of origin. 

Remittances is a very lucrative business and over the years has been an integral part of the Caribbean culture. It could also be considered a major contributor to the economies in the region.

I would imagine, for some countries, remittance flows for many migrant families can become an economic lifeline. 

New platforms such as online transfer services, digital wallets and mobile money applications are becoming more and more prevalent.  With these online platforms, it will be even more difficult to monitor the true outflow of remittances.

In the latter part of 2019, the Financial Services Commission(FSC) website provided information from three institutions and the numbers were staggering. The institutions are CAM, NCS eMoney Services (which operates as MoneyGram) and The Money Centre by Fidelity, which is also known as Western Union. Vigo®, a Western Union money transfer brand.

According to a report published in 2021 by TCIsun newspaper, despite the downturn in the economy, in 2020, a staggering $105 million USD was sent out of the Turks and Caicos Islands through money transfers.

The FSC figures revealed, the majority of the transactions, $36.3 million was sent to Haiti, followed by $26 million to the Dominican Republic, $11.4 million to Jamaica, $10.3 million to the Philippines, $1.3 million to the Bahamas, $1.2 million to the United Kingdom (UK), $9 million to the United States of America (USA) and $8.1 million to other countries.

Haiti and the Dominican Republic were again the largest receivers of outbound funds, together accounting for over 50 percent of the figures. 

Most remittances are primarily used for consumption, including, for instance the purchases of food, consumer goods, health care and housing.  However, based on the significance of the cash outflow in addition to the increase in illegal immigration, it calls into question the relationship between illegal entry and outgoing remittances.

Due to privacy laws and the way data is collected and reported, it may not provide as much information to identify the true receivers and end users.  With the level of outgoing financial activity, it makes our local banks look like check checking centers or staging area before transfer.

It would be intriguing to see what the remittance figures represented in terms of the impact on total gross domestic product (GDP) for TCI.

As a country, how do we slow down the outflow of funds precisely at a time when we want individuals and businesses to get out there and spend, so more of the money is circulating within our own economy?

As a way to heighten more awareness around this issue, why not set up a think tank committee to conduct a comprehensive study? This could help to determine the driving force behind immigrants not wanting to reinvest a larger portion of their earnings in TCI. 

Generally speaking, owning real estate is a sign of progress for many immigrant families.  Perhaps, the hesitation to invest in this area could be in part due to some local land owners allowing squatting for a nominal fee. 

Furthermore, the lack of adequate code enforcement and or allowing low accommodation standards in the country, this makes it easier for renters to live in substandard housing. 

As a result, there is no compelling need for any real individual investment, while allowing more money to be sent out of the country.

In my opinion, it goes right back to the fundamentals, failure to set strict industry standards, improving housing regulations and inspecting what is expected etc.

Would a more comprehensive immigration reform benefit in one form or another in terms of citizenship eligibility?

Offering Amnesty or any sort of immunity is a quagmire for any country. Although, I believe at some point it will become inevitable in TCI. This is one way to ensure the working class is paying their fair share into the system to offset medical expenses and the cost of other social services. 

With TCI recently introducing a new form of indirect taxation, it is evident that the money transfer sector would be a prime source from which the Ministry of Finance can consider increasing levy on.

The last report that was made available by TCI FSC, the vast discrepancy between total inflows and total outflows underscores the shortcomings of remittance data, and leaves one to believe the loyalty to our country for some is rather marginal.

What would be even more impactful is, if Government required more transparency on these institutions, like source of funds etc. 

Albeit, this will need to be accross the board, to include white-collar workers and capitalist who move money freely through bank wire transfers and drafts.

With TCI having a free enterprise market, pundits would argue there are a plethora of reasons why this would be socially unjust to foreigners. 

Consequently, at the end of the day, you can’t have your cake and eat it too.

I concur with a recent statement made by Premier Washington Misick, in which he said “The TCI has to develop a robust internal economy that allows money to pass through as many hands as possible”. To his point, this is not happening.

The government must create an enabling environment to encourage work permit holders and other foreign nationals to stem the outflow of remittances so more of the money is spent toward productive sectors of our economy.

The burning question is, do we have a bold enough politician with the political will to introduce such initiative in the house of assembly?

My final thought is, in order to leverage the true development benefits of financial and social remittances, a comprehensive and in-depth financial analysis must be done.

I’m afraid that without the ability to reign in this level of outflow activity, over time, it could become damaging to our country’s competitiveness in the world market place or the broader economy.

 

Ed Forbes,

Concerned citizen of Grand Turk 

Continue Reading

News

Beaches Turks and Caicos Showcases and Supports Local Creativity

Published

on

September 12, 2025                                                                                

 

PROVIDENCIALES, Turks & Caicos Islands – The Turks and Caicos Islands are home to a wealth of creativity, from artisans and craft vendors to musicians and performers. Beaches Turks and Caicos, the Caribbean’s leading all-inclusive family resort, has pledged its continued support for these individuals by providing meaningful platforms for them to share their skills and stories with guests from around the world.

The resort’s commitment is most evident in its weekly Cultural Night showcase, where visitors are immersed in the vibrant traditions of the islands. Guests enjoy live performances which feature local music genres such as ripsaw, while artisans display and sell handmade creations. This event not only enriches the guest experience but also strengthens economic opportunities for local entrepreneurs.

Entertainment Division Manager Garett Bailey emphasized the significance of Cultural Night, “we want to showcase everything the Turks and Caicos Islands culture has to offer. Our goal is for guests to leave with a deeper appreciation of the island’s art, music and traditions, while giving local talent the opportunity to share their creativity with visitors from across the globe.”

Beyond Cultural Night, Beaches Turks and Caicos also welcomes local craft vendors onto the resort every Wednesday and Friday where they are offered a direct space to market their goods. Guests have easy access to the Turks and Caicos Cultural Marketplace, where they can purchase authentic local arts and crafts.

Managing Director, James McAnally, highlighted how these initiatives reflect the resort’s broader mission, “we are committed to celebrating and sharing the vibrant culture of these islands with our guests. By showcasing local artistry and music, we not only provide entertainment but also help sustain and grow the creative industries of the Turks and Caicos Islands. From our cultural showcases to nightly live music, we are proud to create authentic connections between our guests and the people of these islands.”

Local musician Keon Hall, who frequently performs at the resort, expressed gratitude for the ongoing partnership, “being able to share my music with Beaches’ guests has created lasting relationships. Some visitors return year after year and request songs from previous performances. This partnership continues to celebrate what we do and strengthens the bond between local artists and the resort.”

The resort’s support of local artisans and entertainers extends beyond business opportunity; it is about preserving heritage and sharing stories. Guests take home more than souvenirs; they leave with experiences that deepen their understanding of Turks and Caicos’ culture and history.

Public Relations Manager, Orville Morgan, noted the importance of this commitment, “for many visitors, these interactions represent their first genuine connection to the Turks and Caicos Islands. From artisans and musicians to farmers and transport operators, our local talent helps shape every guest experience. At Beaches, we are proud to give them the stage to share their stories and their heritage.”

Beaches Turks & Caicos remains dedicated to developing cultural connections and supporting the artisans, musicians and entrepreneurs whose creativity makes the Turks and Caicos Islands unique. Each guest experience is an opportunity to celebrate and sustain the spirit of the islands.

Continue Reading

Caribbean News

“Barbecue” is Cooked! US Turns Over 11 Million Haitians into Potential Informants with $5 Million Bounty

Published

on

August 12, 2025

The United States just set fire to the underworld in Haiti — and this time, the smoke might finally flush out the man many call the most feared in the Caribbean.

On Tuesday, the U.S. government slapped a $5 million bounty on the head of Jimmy “Barbecue” Chérizier, the ex-police officer turned gang boss accused of orchestrating massacres, torching neighborhoods, and strangling Haiti’s capital into chaos. This isn’t just a headline — it’s a full-blown game-changer.

That kind of cash — offered under the State Department’s Transnational Organized Crime Rewards Program — is enough to turn the country’s entire population, more than 11 million people, into potential informants overnight. Add the millions in the Haitian diaspora, and Chérizier isn’t just wanted. He’s surrounded.

The Number That Changes Everything

Five million U.S. dollars today equals about 655 million Haitian Gourdes. In a country where many scrape by on less than $5 a day, that’s not just life-changing — it’s life-defining. It’s enough to rebuild homes, put generations through school, or buy a one-way ticket far from the gunfire.

In a place where trust is scarce and survival is everything, that figure is more than tempting — it’s irresistible. For Chérizier, it means every friend could be a future informant, and every loyalist might be calculating the cost of staying loyal.

‘We Will Find Them’ — Jeanine Pirro, U.S. Attorney

Jeanine “Judge Jeanine” Pirro, the U.S. Attorney, set the tone with fire in her voice.                                                                                                                                          “This indictment is the first of its kind,” she announced. “Jimmy Chérizier, also known as ‘Barbecue,’ is a notorious gang leader from Haiti who has orchestrated and committed various acts of violence against Haitians, including the 2018 La Saline attack in which approximately 71 people were killed. He both planned and participated in that massacre.

“Anyone who is giving money to ‘Barbecue’ cannot say, ‘I didn’t know.’ They will be prosecuted, and we will find them. They are supporting an individual who is committing human rights abuses, and we will not look the other way.”

Pirro wasn’t just going after Chérizier. She was sending a warning to the Haitian diaspora accused of feeding his war chest from abroad: the days of claiming ignorance are over.

‘No Safe Haven’ — Darren Cox, FBI

Then came Darren Cox, Deputy Assistant Director of the FBI, delivering the muscle of America’s most powerful investigative force.                                                                                                                                                                                                                “There is no safe haven for Chérizier and his network,” Cox declared. “We are closing every link, every cell.”                                                                                                                                                                                                                                                   Since January, he said, the FBI has arrested three Top Ten fugitives, taken more than 19,000 criminals off the streets, and seized thousands of tons of narcotics — enough to save millions of lives across the U.S.

The FBI’s Miami and Houston offices have already bagged one of Chérizier’s Viv Ansanm associates inside the United States without firing a shot. “These efforts are a deliberate and coordinated plan,” Cox said, “to protect our communities and confront escalating threats from terrorist organizations like Viv Ansanm.”

‘Three-Year Investigation’ — Ivan Arvelo, HSI

Ivan Arvelo, Assistant Director of Homeland Security Investigations, brought the receipts.                                                                                                                                                                                                                                                                    “This is the result of a three-year investigation into Chérizier’s procurement networks, cash pipelines, and operational financing that violates sanctions,” he explained.                                                                                                                                                     Arvelo described 400 structures destroyed, entire communities erased, and a gang exploiting U.S. dollars, technology, and immigration loopholes to keep its killing machine running. “We tracked how Americans unwittingly bankrolled brutality,” he said — proof that the net is tightening both inside Haiti and abroad.

‘The Worst of the Worst’ — Chris Lambert, State Department

Chris Lambert, representing the State Department’s International Affairs division, gave the political bottom line.

“Mass violence in Haiti must end,” Lambert said. “The instability resulting from Chérizier’s actions fuels illegal migration, regional instability, and transnational crime. We will continue to apply every tool available — including our rewards programs — to stop the spread of unchecked violence, especially to target the worst of the worst criminal leaders threatening the people of our hemisphere.”

Lambert confirmed what many have long known: Chérizier is not just a gang leader. He commands Viv Ansanm, officially designated in May as a Foreign Terrorist Organization. In the eyes of the U.S., that makes him not just Haiti’s problem — but everyone’s.

Why Haitians May Not Resist

In Haiti, money talks — loudly. And when you put 655 million Gourdes on the table, it shouts.

That’s the kind of figure that turns casual acquaintances into informants and makes even the most hardened loyalist wonder if the payout is worth more than the risk. It’s not a matter of “if” word gets out, it’s a matter of “who will be first to collect.”

For grieving families, it’s a chance at justice. For the desperate, it’s a chance at survival. For Haiti as a whole, it’s hope — wrapped in the most dangerous of temptations.

An Answer to Prayers

For years, Haiti’s headlines have been a scroll of horrors — kidnappings, executions, burned neighborhoods, bodies in the streets. Chérizier’s name has been attached to too many of them.

This move by the U.S. isn’t just strategy. It’s personal. It’s a signal to every Haitian — at home or abroad — that the days of impunity could be ending.

I’ll admit it: when I heard the news, I danced, I sang, and I nearly cried. Not because $5 million is a lot of money, but because of what it means — the possibility, at last, of stopping the man accused of helping turn Haiti into hell on earth.

Four officials, four angles, one mission: Pirro’s fire, Cox’s grit, Arvelo’s precision, Lambert’s conviction. Together, they’ve put the heat on “Barbecue” like never before.

BBQ is cooked. The only question now is: which one of over 11 million potential informants will serve him up?

Continue Reading

Africa

What If Caribbean Dollars Flowed to Africa? A Trade Revolution Within Reach

Published

on

By Deandrea Hamilton | Editor

 

What would happen if the Caribbean started spending more with Africa?

That question is no longer hypothetical. It’s the vision behind a growing movement that sees the Caribbean not just as a neighbor of the Americas, but as a key partner in the rise of a “Global Africa.” With shared history, deep cultural ties, and emerging trade frameworks, experts say the potential is enormous—if the will to act finally matches the passion of the speeches.

Billions on the Table

Today, trade between Africa and the Caribbean sits at just over US $729 million annually. But the International Trade Centre (ITC) and Afreximbank project that number could balloon to US $1.8 billion per year by 2028—more than doubling in just a few years.

This boost is expected to come not just from commodities, but increasingly from services, particularly in transport, travel, food exports, and creative industries. Two-thirds of that growth, according to analysts, could come from services alone—sectors where the Caribbean is eager to expand. (afreximbank.com).

Meanwhile, Africa’s consumer and business spending is forecasted to skyrocket to US $6.66 trillion by 2030, driven by a population boom and rising middle class.

The Case for a New Trade Axis

The Caribbean imports 80% of its food, but many of those goods can be sourced from African markets. What we offer in return? World-class logistics, tourism know-how, financial services, and proximity to the U.S. market. It’s a natural fit—one that is currently underdeveloped.

The recent call by Grenadian Prime Minister Dickon Mitchell for a “Global Africa Commission” underscores this urgency. He urged stakeholders at the Afreximbank Trade Expo to stop the cycle of empty talk and get to work: building shipping routes, finalizing trade agreements, and boosting knowledge of what each region actually has to offer.

“We will not leave here with another communiqué,” Mitchell continued. “We will leave here with a commitment to act, to build together, to trade together, to succeed together and rise together.”                                                                                                                                                                                                   The statement underscored a central theme of the summit — that both Africa and the Caribbean can no longer afford to admire the idea of unity; they must operationalize it.Pilot platforms like the Pan-African Payment and Settlement System (PAPSS) are already simplifying how cross-border payments work between African countries—and could extend to Caribbean partners. The system removes the need for U.S. dollars in trade between African nations, creating space for sovereign empowerment.

What’s the Hold-Up?

Let’s be blunt: political will, slow bureaucracies, and lack of coordination are stalling real action. Despite a decade of “Africa–Caribbean unity” talk, less than 3% of CARICOM trade currently involves the African continent. That fact continues to undermine these brave speeches and ambitious notions.

Where Caribbean Consumers Fit In

Caribbean consumers—especially the younger, tech-savvy generation—are already looking for affordable, ethical, and culturally relevant goods. African markets offer exactly that. Redirecting even a fraction of spending toward African-made clothing, beauty products, tech tools, or agro-processed foods could start a real trade revolution.

Bottom Line

If the political leaders won’t build the bridge fast enough, maybe Caribbean consumers will. The money is there. The interest is rising. Now it’s time to turn the “Global Africa” vision into a real economic shift—one shopping cart at a time.

Continue Reading

FIND US ON FACEBOOK

TRENDING