Connect with us

Caribbean News

JAMAICA: Clarke urges increased investment in agriculture

Published

on

#Jamaica, November 9, 2017 – Kingston – Ambassador Plenipotentiary for Economic Affairs, Dr. Nigel Clarke, is calling for increased investment in agriculture, as there is great demand that is not being satisfied and which the nation has the ability to supply.

“If we focus more on growing our own produce, we would reduce the need to import and satisfy the demands of our markets, which also results in an increase in our gross domestic product (GDP),” he argued.

He was speaking at the Jamaica Employers’ Federation’s (JEF) third annual CEO Breakfast held on Tuesday (November 7) at The Knutsford Court Hotel in New Kingston.   Dr. Clarke said that while there may be concerns about the impacts of climate change and natural disasters, new technologies are available to protect crops.

“It’s 2017, and with the application of technology and proper infrastructure, there’s no need to be so much at the mercy of droughts and floods as we are today.   What we need to do, and what we will be certainly advocating for, is an acceleration of investments in water infrastructure, storage systems, distribution systems and irrigation, because the data suggest that wherever agriculture goes, that’s where Jamaica goes,” he noted.

Dr. Clarke said that agriculture has proven to be influential to the Jamaican market and earnings, and is a key component in the performance of the nation in each quarter.   He said the data show that “whenever agriculture does well, Jamaica does well and when agriculture suffers, as was the case in the last quarter… Jamaica suffers. So we need to have a strategic approach to agriculture and double up our efforts in that area”.

“We tend to underestimate how important agriculture is to Jamaica.   We’re very much still an agricultural society where agriculture plays a fundamental role in the daily lives of Jamaicans, and if we are to ensure that we can pick up and sustain going forward, we’re going to have to pay serious attention to agriculture,” he noted further.

Meanwhile, Dr. Clarke said the Jamaica economy is moving in the right direction.   He noted that all the International Monetary Fund (IMF) targets were met and surpassed during the last financial year, the primary surplus out-turn exceeded the target, and tax revenues outperformed the budget by three per cent, which was the best in several years.

“Approximately 70 per cent or 80 per cent of the people no longer pay income tax on their earnings, Pay As You Earn (PAYE) earnings outperformed the budget by $3 billion.   Corporate Tax, General Consumption Tax (GCT) and stamp duty, all indicators of economic activity, are up and ahead of what has been budgeted,” he pointed out.

He noted further that employment stands at record levels, with more than 1.25 million people employed.   “This is the most that has ever been employed in the independent history of Jamaica.   Unemployment is at 11.3 per cent, which is the lowest it has been in a decade and coming down from 13.5 per cent in 2013,” he said.

“When you see 50,000 jobs being added in a year in Jamaica and most of the jobs going to young people, it is absolutely encouraging that we are moving in the right direction.   We have to ensure the earnings of those 50,000 people are spending on goods and services being provided by Jamaicans,” Dr. Clarke said.

Release: JIS

Photo credit: Nationwide Radio

 

 

Continue Reading

Caribbean News

CARICOM Presses for Peace as Hormuz Conflict Drives Up Caribbean Costs 

Published

on

May 22, 2026 – The Caribbean Community is warning that the escalating conflict surrounding the Strait of Hormuz is now directly threatening Caribbean economies, driving up the cost of fuel, food and freight across a region heavily dependent on imports.

In a statement issued this week, CARICOM expressed “serious concern” over the worsening hostilities in the Middle East and the growing instability affecting one of the world’s most critical shipping corridors.

CARICOM said it is alarmed by: “the severe loss of life, threats to civil infrastructure, and the instability in global markets” resulting from the conflict.

The regional bloc warned that disruption in maritime transit through the Strait of Hormuz is reverberating across the global economy through: “energy markets, supply chains and increased freight costs.”

For Caribbean citizens, those consequences are already becoming painfully visible.

In Nassau, gasoline prices have surged again, with regular fuel now nearing or exceeding seven dollars per gallon at some stations. Consumers in other CARICOM countries are also reporting higher transportation costs, rising grocery bills and mounting pressure on household budgets.

The fear among regional leaders is that the crisis is far from over.

Roughly 20 percent of the world’s oil and liquefied natural gas normally passes through the Strait of Hormuz, making it one of the most strategically important waterways in global trade. Analysts warn prolonged disruption could trigger even higher global inflation and deeper supply chain instability.

The United Nations Food and Agriculture Organization has now warned that the crisis could become a: “systemic agrifood shock” capable of triggering a severe global food price crisis within six to twelve months.

The Caribbean is especially vulnerable because of its dependence on imported fuel, imported food and imported manufactured goods.

A recent UN regional analysis warned that shockwaves from the Middle East conflict are already reaching Caribbean nations, where rising oil prices and freight costs are increasing the price of imported food, electricity and transportation.

Global institutions are also sounding increasingly dire warnings.

The World Bank projects energy prices could surge by 24 percent this year because of the conflict, while fertilizer prices may jump by more than 30 percent — increases likely to feed directly into higher food costs worldwide.

The International Monetary Fund has meanwhile warned the global economy could face a “much worse outcome” if the conflict drags into 2027 and oil prices continue climbing.

CARICOM is now calling for all parties to respect international law and preserve safe passage through the Strait of Hormuz under the United Nations Convention on the Law of the Sea.

The Community stressed that transit passage:  “should not be contingent on any license, levy, or authorization,” and warned that bordering states should not “hamper or suspend” the movement of vessels through the corridor.

CARICOM also called for:  “cessation of hostilities” and urged “de-escalation and restraint by all parties.”

But for many Caribbean citizens, the economic pain is already here.

And with fuel nearing seven dollars per gallon in parts of The Bahamas, regional governments are facing renewed pressure over cost of living concerns, inflation and the Caribbean’s continued dependence on imported energy and food supplies.

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

Continue Reading

Caribbean News

Browne Wins Fourth Term in Antigua & Barbuda Landslide

Published

on

Antigua & Barbuda, May 4, 2026 – Prime Minister Gaston Browne has secured a historic fourth consecutive term in office, leading the Antigua and Barbuda Labour Party to a commanding victory in the country’s snap general election held April 30, 2026.

Preliminary results show Browne’s party capturing 15 of the 17 seats in Parliament, tightening its grip on power and dramatically weakening the opposition.

The main opposition United Progressive Party was reduced to just one seat, held by its leader, while the Barbuda People’s Movement retained its single constituency in Barbuda.

The result marks a major political turnaround for Browne, whose party had won a much narrower 9–7 majority in the 2023 election before rebuilding support through defections and by-elections.

Voter turnout figures vary in early reports, with initial estimates indicating participation of around 35.8 percent, or roughly 22,700 voters out of more than 63,000 registered. However, broader election data suggests overall turnout may have exceeded 60 percent, reflecting steady engagement despite political tensions.

The election, called nearly two years ahead of schedule, was shaped by concerns over the cost of living, global economic pressures and fallout from U.S. visa restrictions linked to the country’s citizenship-by-investment programme.

Despite those issues, Browne campaigned on economic stability and continued development, pointing to a strong tourism recovery and ongoing infrastructure expansion.

The decisive victory now strengthens his mandate, but also raises questions about the future of the opposition, which faces internal challenges after significant losses at the polls.

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

Continue Reading

Caribbean News

FIGHT FOR CONTROL OF STEWART TOURISM EMPIRE PLAYS OUT IN COURTS

Published

on

May 4, 2026 – This is not just a family dispute.  It is a fight over control of a tourism empire.

At the centre is Adam Stewart, who has secured a series of legal victories across the region as challenges continue over the estate and leadership structure of Sandals Resorts International.

The multi-billion-dollar conglomerate was built by the late Gordon “Butch” Stewart, whose passing in 2021 set off a complex and ongoing dispute involving family members, estate arrangements and control of the business.

In recent rulings, courts in both The Bahamas and Jamaica have reinforced Adam Stewart’s position, effectively allowing him to continue leading the company while defending his role against legal challenges.

One key issue has centred on the interpretation of estate provisions, including whether defending his leadership could jeopardise his inheritance. The courts have ruled in his favour, clearing the way for him to maintain control without penalty.

For now, those decisions bring a measure of stability to one of the Caribbean’s most influential tourism brands.

But the matter is far from settled.

Multiple legal challenges and competing claims within the Stewart family remain active, meaning the future structure of the company is still being contested.

The implications stretch well beyond the courtroom.

Sandals operates across several Caribbean nations, including The Bahamas, Turks and Caicos Islands, Jamaica and Saint Lucia, making it a critical player in regional tourism, employment and investment.

Any uncertainty at the top of the organisation has the potential to ripple across economies that rely heavily on the brand’s continued expansion and stability.

For now, Adam Stewart remains firmly in charge.  He was named Executive Chairman of Sandals Resorts International in 2021.

Still, many are keen on the outcomes of ongoing litigation, as the battle over one of the Caribbean’s most powerful business empires is still unfolding.

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

Continue Reading

FIND US ON FACEBOOK

TRENDING