Caribbean News
Inflation Trending Down
#Kingston, Jamaica, August 21, 2022 – The Bank of Jamaica (BOJ) is encouraged by the declining out-turns recorded in the last three Consumer Price Index (CPI) reports, Governor, Richard Byles, has said.
The CPI, which measures variations (inflationary movements) in commodity prices for consumers, is administered by the Statistical Institute of Jamaica (STATIN).
Mr. Byles noted that having peaked at 11.8 per cent in April 2022, the rate of inflation fell to 10.9 per cent in May and June, and to 10.2 per cent in July.
“Declining international commodity prices, relative stability in the exchange rate, tighter liquidity management by the BOJ, and higher interest rates have allowed for this trend,” the Governor informed.
He was speaking during the Bank’s digital quarterly media briefing on Friday (August 19).
Mr. Byles said notwithstanding this “good trend”, the BOJ believes these conditions have not sufficiently solidified to ensure that inflation is sustainably placed on a downward path towards the institution’s four to six per cent target range, adding that “there remains some significant risks of reversal”.
He emphasised that the fragile geopolitical conflict between Russia and Ukraine, and Europe’s knock-on commodity price risks “cannot be ignored”.
Additionally, Mr. Byles said reported labour shortages in several sectors of the economy and pressures from recent local inflation experiences “carry the potential for future wage adjustments that could be inflationary”.
Further, the Governor said high inflation in the United States and other trading partners has prompted a programme of faster monetary adjustment, noting that this could cause capital outflows from Jamaica and exchange rate
depreciation, “if domestic monetary policy is not properly aligned”.
“These are some of the factors the Bank’s Monetary Policy Committee (MPC) considered when it met on August 16 and 17, 2022, and voted to increase the policy rate [on deposit-taking institutions’ (DTIs) overnight balances] by a further 50 basis points to six per cent, effective August 19, 2022,” he told journalists.
Mr. Byles informed that the Committee also decided to continue pursuing other measures to contain Jamaican dollar liquidity expansion and maintain relative foreign exchange market stability.
He said the MPC noted that the Bank’s strong international reserves reinforce its ability to support the foreign exchange market, as needed.
“This current decision has resulted in a cumulative increase in the policy rate of 550 basis points since October 2021 and has taken the policy rate to a level that the Committee considers appropriate,” Mr. Byles pointed out.
He added that if incoming data on inflation continues to track downwards, and the monetary adjustments in the US, in particular, are as expected, “the MPC agreed that it could pause its policy rate increases”.
Mr. Byles advised that the policy rate increases were complemented by the Bank’s adjusting the Net Open Position limits for DTIs, and selling approximately US$678 million to the foreign exchange market, since October 2021.
This, he said, was approximately 30 per cent more than the sum sold over the corresponding period to July 2021.
He also indicated that the Bank bought US$1.96 billion over the same period, primarily through the surrender system.
Mr. Byles said these policy actions contributed to the exchange rate being stabilised since the start of November last year.
“Without these actions, imported inflation, and hence the final prices faced by consumers, would have been much higher,” he further stated.
Mr. Byles said the BOJ anticipates that these measures will continue to cause interest rates on deposits to further increase, thereby making savings in Jamaican dollars more attractive, relative to foreign currency assets.
Photo Caption: Bank of Jamaica (BOJ) Governor, Richard Byles.
Contact: Douglas McIntosh
Caribbean News
Liberty Caribbean Supports Regional Forum on AI, Cyber Resilience and Digital Inclusion
Port of Spain, TRINIDAD & TOBAGO (February 24, 2026) — Liberty Caribbean, the operators of Flow, Liberty Business and BTC, recently served as Gold-Level Partner of the two-day Trinidad and Tobago Internet Governance Forum (TTIGF), themed “The Innovation Paradox – Balancing Progress with Responsibility and Resilience”.
The Digital Divide is of particular interest to Liberty Caribbean and is being addressed through its Charitable Foundation across the region. Low broadband penetration in the Caribbean contributes to diminished opportunities for individuals, communities, and local economies, but with the support of funding partners, this gap can be addressed through a comprehensive programme – JUMP – that focuses on providing access, devices, and digital skills.
“Liberty Caribbean was proud to serve as Gold-Level Partner of the TTIGF because the conversations taking place here shape key digital
policies for multiple stakeholders,” said Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad.
“As technology accelerates at an unprecedented pace, we must ensure that innovation strengthens our societies rather than fragments them. The theme, ‘The Innovation Paradox – Balancing Progress with Responsibility and Resilience,’ speaks directly to the work we do every day: building networks that are not only fast and reliable, but secure, inclusive and future-ready.”
Across the Caribbean, the digital divide remains one of the most pressing barriers to equitable growth. Low broadband penetration limits access to education, entrepreneurship and essential services, and that is why we are deeply committed to closing this gap.
Through the Liberty Caribbean Charitable Foundation and initiatives like the JUMP Programme, the company is expanding access to technology, affordable connectivity and digital skills training so that individuals and communities are empowered to participate fully in the digital economy.
Martin-Sulgan further stated “at Liberty Caribbean, we believe progress and responsibility must move in lock step. By investing in resilient networks, inclusive programmes and trusted partnerships, we are helping to build a Caribbean that is innovative, secure and prepared for the opportunities ahead.”
Topics covered during the Forum, with over 140 participants, included “Securing Critical Infrastructure”, Integrating AI into Digital Transformation”, “The Digital Divide”, The Human Cost of Innovation – Mental Health and Well-being in the Digital Age’, and AI, Cyber Resilience and Regional Innovation”.
Focused on the underlying mandate of the Conference theme thought leaders, innovators, policymakers, technologists, researchers, and community stakeholders were invited to explore how countries can evolve boldly without compromising values or long-term stability.
Photo Caption:
TTIGF – l-r Darren Campo, Regulatory & Compliance Officer; Yolande Agard-Simmons, Senior Manager Communications; and Kevon Swift, Senior Manager Government and Regulatory Affairs of Flow Trinidad in attendance at the Post Event Mixer at Caribbean Telecommunications Union’s Head Office in St Clair, Port of Spain
Barbados, February 12, 2026 – Prime Minister Mia Amor Mottley was this afternoon officially sworn in for a third consecutive term, hours after delivering one of the most emphatic election victories in Caribbean political history — another complete capture of all 30 seats in Barbados’ House of Assembly.
The ceremony, conducted by President His Excellency Lt. Col. The Most Honourable Jeffrey Bostic, marked the formal start of a new
administration following the February 11, 2026 general election, which returned the Barbados Labour Party (BLP) to power with a renewed and overwhelming mandate.
In a statement after taking the oath, Mottley said she accepted the responsibility “with humility and resolve,” thanking the people of Barbados for placing their trust in her leadership once again and urging national unity as her government begins its new term. Attorney Wilfred Abrahams was also sworn in as Attorney General.
The result is historic not only for its scale but for its consistency. This is the third straight general election in which the BLP has won every constituency, reinforcing Mottley’s dominance in national politics and extending an unmatched era of one-party control in the modern democratic period.
Voting day unfolded under the watch of a CARICOM Election Observation Mission, led by Antigua and Barbuda’s Supervisor of Elections Ian Hughes and supported by senior electoral officials from Belize and Jamaica. The team engaged key institutions ahead of the poll and monitored the process across the island.
Regional leaders were swift in their congratulations.
Guyana’s President Irfaan Ali described the outcome as “emphatic and historic,” saying the clean sweep reflected how deeply Mottley’s
leadership has connected with Barbadians and expressing optimism about strengthening ties between the two countries.
Jamaica’s Prime Minister Andrew Holness also hailed the victory, noting that her re-election provides an opportunity to deepen cooperation within CARICOM and advance shared regional priorities.
The scale of the win again leaves Barbados without a parliamentary opposition, a reality that has become a defining feature of the political landscape since 2018. Supporters argue the repeated mandate reflects public confidence in Mottley’s stewardship of economic reform, climate diplomacy, the transition to a republic, and Barbados’ expanding global influence.
Now, newly sworn in and backed by another unanimous parliamentary majority, Mottley begins a third term with both extraordinary political capital and equally high expectations at home and across the region.
Liberty Caribbean is Diamond Sponsor of CANTO Connect 2026 and 42nd AGM
Port of Spain, TRININDAD & TOBAGO (February 1, 2026) — Liberty Caribbean, the operators of Flow. Liberty Business and BTC, has reaffirmed its commitment to turning regional connectivity into measurable economic and social outcomes as Diamond Sponsor of CANTO Connect 2026 and its 42nd Annual General Meeting.
CANTO is the leading regional body that brings together telecommunications operators, ICT providers, regulators, governments, and industry partners to support the development of the Caribbean’s digital and communications landscape.
Simone Martin-Sulgan, Vice President and General Manager, Flow Trinidad & Tobago delivered the sponsor’s address on behalf of Liberty Caribbean.
“The work of laying fibre and lighting towers is done; connectivity is now our foundation,” she said.
“The real task before us is to translate that foundation into innovation, productivity and prosperity for our people. Intelligent connectivity,
such as networks designed for 5G, AI and IoT, will be the platform for smarter public services, more resilient systems and scaled opportunities for Caribbean entrepreneurs.”
Martin-Sulgan emphasised that infrastructure alone will not deliver sustainable progress.
“Digital progress must become digital prosperity. That means creating career pathways for young people, helping local businesses scale and ensuring citizens across our communities can fully participate in the digital economy. A connected Caribbean should also be a confident, creative and globally competitive Caribbean,” she said.
Liberty Caribbean is represented by a senior delegation at CANTO Connect to support the conference objectives of aligning policy, investment and execution across the region under this year’s theme ‘Elevate the Caribbean – From Connectivity to Global Competitiveness’.
Liberty Caribbean’s delegation includes Inge Smidts, Chief Executive Officer; Desron Bynoe, VP and General Manager, Flow Barbados; Susanna O’Sullivan, VP and General Manager, North Caribbean; Marilyn Sealy, Senior Director, Head of Communications; Dominic Boon, VP, People; Daniel Neiva, Chief Commercial Officer, B2B; Bradley Ramcharan, Director, B2B, Trinidad & Tobago; Yolande Headley, Country Manager, Dutch East Caribbean; and Jade Reymond, Country Manager, Flow Anguilla.
Martin-Sulgan thanked CANTO’s local secretariat for convening the forum and urged delegates to convert conversation into action.
“If we align policy, capital and capability, the Caribbean can move from connectivity to competitiveness. Liberty Caribbean will continue to invest in resilient networks, nurture homegrown talent and partner to deliver measurable social and economic value across our markets,” she said.
