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PM Davis speaks of ‘boundless possibilities’ and collaboration, at the Afreximbank 31st Annual Meetings

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NASSAU, The Bahamas – While addressing the African Export-Import Bank (Afreximbank) 31st Annual Meetings (AAM2024), on June 13, 2024, Prime Minister and Minister of Finance the Hon. Philip Davis noted that he was reminded of the “boundless possibilities that define the Caribbean and, indeed, The Bahamas.”

“Our region is not just a collection of islands but a vibrant tapestry of culture, innovation, and opportunity,” Prime Minister Davis said, at the event held at the Baha Mar Convention Centre.  “The Bahamas, with its strategic location and dynamic economy, serves as a symbol of possibility and a gateway to broader economic horizons.”

He added:  “Growing up on Cat Island, one of our country’s beautiful family of islands, I was always filled with big dreams for my country. I may not have envisioned the specific paths our economy would take, but I always believed in the limitless potential of our nation.  Our history is one of invention, disruption, resilience, and innovation. We have pioneered in various fields, from tourism to financial services, transforming challenges into opportunities and showcasing our ability to innovate and lead.”

Prime Minister Davis pointed out that, just as The Bahamas had embraced its unique position to become a global leader in tourism and financial services, so too can they, as a collective of African and Caribbean nations, harness “our potential to shape our own economic destiny.”

“Today, our presence here underscores the readiness of The Bahamas, and indeed the Caribbean, to be a home for global leaders in various sectors,” he noted.  “The Bahamas has always been more than just a tropical paradise. It is a place of possibility, where dreams are not just dreamt but realized. This ethos is reflected in our history and in the transformative innovations we continue to champion.”

“In a similar vein, Africa is a land of immense potential, brimming with opportunities for growth and development,” Prime Minister Davis noted.  “Our collective mission is to harness this potential, creating pathways to prosperity that benefit not just our regions but the global community.”

Prime Minister Davis went further to outline “a blueprint for collaboration that we all can embrace.”

“This blueprint encompasses key initiatives designed to unite our banking systems, enhance financial inclusivity, and catalyze economic growth across Africa and the Caribbean,” he said.  “This strategic plan is anchored in our shared desire for prosperity and our commitment to overcoming the challenges of distance and disparate regulatory environments.”

Prime Minister Davis added:  “Establishing a Joint Financial Task Force can be the cornerstone of our blueprint. This collaborative body will harness the expertise of banking and finance leaders, policymakers, and stakeholders from both regions. Tasked with identifying and dismantling barriers to banking integration, this task force symbolizes our collective will to forge a unified path forward.”

Prime Minister Davis suggested that they could also harmonize their regulatory frameworks to address “critical hurdles” in their journey.

“By aligning our anti-money laundering (AML) standards, counter-financing of terrorism (CFT) policies, and digital currency regulations, we create a seamless environment conducive to cross-regional banking operations,” he stated.  “With its robust regulatory landscape, exemplified by the DARE Act, The Bahamas is a pioneer in this endeavor, guiding our efforts towards regulatory excellence and stability.”

He added:  “Additionally, promoting financial inclusion and digital banking leverages the power of technology to erase boundaries and open doors. Inspired by The Bahamas’ pioneering launch of the Sand Dollar, the world’s first central bank digital currency, this facet of the blueprint envisions a future where digital banking platforms extend financial services to every corner of our regions, ensuring that none of our citizens is left behind.”

Prime Minister Davis said that facilitating trade and investment through streamlined banking procedures and dedicated financial instruments could bolster economic exchanges between Africa and the Caribbean. By focusing on sectors of mutual interest like tourism, agriculture, renewable energy, and technology, he added, they could unlock new avenues for growth and collaboration.

“Key to this blueprint is developing human capital, underscoring the belief that our greatest asset is our people,” Prime Minister Davis said.  “Joint educational initiatives and training programs will equip banking professionals with cutting-edge skills in fintech, cybersecurity, and regulatory compliance, ensuring our financial sector is robust, secure, and innovative.”

“Creating a bilateral payment system or exploring the development of a shared digital currency represents a bold step towards financial sovereignty and integration,” he added.  “Such an initiative will facilitate smoother trade and investment, reduce our reliance on external currencies, and strengthen our economic bonds.

“Together, Africa and the Caribbean can embark on this transformative journey, driven by unity, innovation, and mutual respect. Let this blueprint be our guide as we strive to unlock the full potential of our regions, forging a path towards prosperity that will be remembered for generations yet to come.”

Prime Minister Davis noted that the Afreximbank annual meeting represented “a pivotal moment for all of us, especially for Small Island Developing States (SIDS).”

He said: “We face a global financial system that often locks us out, creating inequities perpetuated by the Global North. These powerful nations frequently establish one set of rules for themselves and another for developing states, undermining our progress and prosperity.  It is imperative that we call out this behavior and demand an inclusive, fair model for the global financial system.”

Prime Minister Davis continued:  “Our journey together – Africa and the Caribbean – supported by the visions we share and the actions we are committed to, heralds the dawn of a new era.  An era where financial inclusivity fostered by innovations like the Sand Dollar and robust regulatory frameworks become the standard across our waters.  An era where our joint task forces and harmonized policies pave the way for a future where trade, investment, and mutual growth flow as freely as the waters that connect us.”

He said that, as they all looked to the horizon, they should see not a barrier but a vast, uncharted ocean of potential.

“Let us decide, here and now, that the waters which separate our lands will not impede our progress but will act as the very medium through which we unite our dreams and ambitions,” Prime Minister Davis said.

He added:  “Friends, I ask the question again – will we allow the separation of water to get in our way? Or will we embark together on this bold journey, proving that our spirits are stronger than the oceans, our resolve deeper than the deepest sea, and our potential boundless as the sky above?  The choice is ours. Let us choose to bridge the waters, to unite our dreams, and to craft a future where Africa and the Caribbean thrive together, in prosperity and partnership. This is our moment. Let us seize it with both hands, for the sake of our present and for the countless generations to come.”

“Lastly, I hope that this annual meeting in the Bahamas is successful – and I have no doubt that it will be – and that you have time to kick off your shoes, get your feet wet in our sands, get some sand in your toes, enjoy the warmth of our people, and discover why it is better in The Bahamas,” Prime Minister Davis said.

“The moment is now.  Let us seize the moment.”

PHOTO CAPTION

Prime Minister and Minister of Finance the Hon. Philip Davis addresses the African Export-Import Bank (Afreximbank) 31st Annual Meetings (AAM2024), on June 13, 2024, held at Baha Mar Convention Centre.

 

(BIS Photos/Eric Rose)

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Where to Draw the Line? TCI and Bahamas Advance Maritime Boundary Talks

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June 16, 2026 – Thirty-four years after formal negotiations began, Turks and Caicos Islands and The Bahamas are still working to define an agreed maritime boundary between the neighbouring archipelagos, a revelation emerging from a recent Turks and Caicos Cabinet summary which has brought renewed attention to a largely overlooked diplomatic and security issue.

A May 2026 Turks and Caicos Cabinet update suggests the long-running negotiations are continuing to advance.  In August 2023, Bahamas Foreign Affairs Minister Fred Mitchell said efforts to draw an exact maritime boundary had been slowed by the challenge of gathering the mapping and locational data required for the exercise.  The United Kingdom, which represents Turks and Caicos in the negotiations, has offered few details beyond confirming that both sides remain committed to maritime boundary delimitation talks.

The negotiations are not centred on a territorial dispute but rather on establishing a legally recognized maritime boundary under international law.  Such agreements help determine jurisdiction over fisheries, maritime resources, law enforcement activities, environmental protection and migration control in the waters between neighbouring countries.

While the discussions focus on the boundary between The Bahamas and Turks and Caicos, the exercise is part of a wider maritime delimitation effort — the process of formally marking and agreeing upon where one country’s waters end and another’s begin.  In comments to The Tribune in August 2023, Mitchell referenced similar boundary considerations involving the United States and Haiti, underscoring the broader regional importance of defining maritime jurisdictions in accordance with international law.

According to public statements from The Bahamas, formal negotiations between the two sides began in 1992 and were followed by technical discussions in 1996.  After years of little public activity, talks resumed in 2023 and have continued through a series of engagements involving legal, maritime, security and geographic information specialists.

The importance of maritime boundaries was underscored by former Bahamas Foreign Affairs Minister Brent Symonette during maritime boundary discussions between The Bahamas and the United States in 2009.  At the time, Symonette described clearly defined maritime borders as essential to national sovereignty, law enforcement, fisheries management, environmental protection and efforts to combat illegal migration.  He also argued that agreed boundaries provide legal certainty and strengthen cooperation between neighbouring countries.

The United Kingdom, which represents Turks and Caicos in the negotiations, has offered few public details beyond confirming its commitment to the process.  However, officials from the Foreign, Commonwealth and Development Office participated alongside TCI representatives during talks held in Nassau in August 2023.  The Turks and Caicos delegation included then Permanent Secretary Wesley Clerveaux, whose responsibilities included Marine Affairs.

At this stage, the TCI Cabinet has only publicly identified the area under discussion as being south of “Point 1.”  Information released by The Bahamas following a 2023 meeting indicates the negotiations concern waters between the southeastern Bahamas and the Turks and Caicos Islands.  While no map has been made public, the available information places the discussions south of Bahamian islands including Mayaguana and Great Inagua.  Exactly where the proposed boundary would meet the Turks and Caicos archipelago remains unclear from public records.

The latest Cabinet update offers no indication of when the negotiations may conclude.  However, after more than three decades of intermittent discussions, recent references by both governments suggest efforts to finally draw the line between the two jurisdictions are continuing.

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CDB Leadership Passes to Belize as Region Eyes New Financing Partnerships  

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By Deandrea Hamilton

 

The Bahamas, June 9, 2026 – The Caribbean Development Bank’s annual gathering may have concluded in The Bahamas, but attention is already turning to Belize as leadership of the institution’s Board of Governors officially changed hands.

At the close of the 56th Annual Meeting in Nassau, outgoing Chairman and CDB Governor for The Bahamas, Michael Halkitis, formally transferred the chairmanship to Belize’s Dr. Hon. Osmond Martinez, continuing the Bank’s tradition of rotating leadership among its regional shareholders.

The handover capped a week of discussions focused on financing development in an increasingly uncertain global environment and strengthening the Caribbean’s ability to withstand economic and climate-related shocks.

One of the meeting’s most closely watched conversations centered on how multilateral development banks can better support vulnerable Small Island Developing States.

During the President’s Chat, titled Financing the Future: MDB Strategies for Uncertain Times, CDB President Daniel Best joined leaders from the OPEC Fund, the Central American Bank for Economic Integration and the Fund for Responding to Loss and Damage to discuss expanding development finance and building resilience.

OPEC Fund President Dr. Abdulhamid Alkhalifa emphasized that development institutions must move beyond responding to crises and instead help countries prepare for them.

“The real test is whether we can help countries move from strategy to implementation, and from implementation to results,” Alkhalifa said.

The discussions reflected a growing regional push for innovative financing solutions as Caribbean nations continue to confront climate vulnerability, infrastructure demands and economic uncertainty.

Beyond discussions on financing and resilience, the Annual Meeting also featured youth engagement activities, including the Youth FIRE Forum, where young Caribbean leaders participated in conversations about innovation, entrepreneurship, leadership and the future of regional development. Senior government officials, development professionals and youth delegates exchanged ideas on the challenges and opportunities facing the next generation, reinforcing a recurring message throughout the conference: that investments made today must ultimately improve opportunities for Caribbean youth tomorrow.

That theme was echoed by Bahamas Prime Minister Philip Davis, who used the opening ceremony to challenge regional leaders to invest in future generations.

“We must invest in the one asset that no agency can ever downgrade, and that no storm can ever wash away: the mind of a Caribbean child,” Davis told delegates.

With Belize now assuming the chairmanship, regional leaders say the focus remains on transforming ideas discussed in Nassau into tangible results for Caribbean people.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

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ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

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