The area includes 13 island countries, from the Bahamas in the north to Trinidad and Tobago in the south; Belize, which is geographically situated in Central America; and the two countries of Guyana and Suriname, located on the north main coast of South America. Lots of nations in the area share a typical African ethnic and British colonial heritage, while Cuba and the Dominican Republic were Spanish colonies, Haiti was French, and Suriname was Dutch. The dates of independence of these countries range from Haiti in 1804 to St. Kitts and Nevis in 1983. The biggest countries in regards to acreage are Guyana and Suriname, while those with the largest populations are Cuba, the Dominican Republic, and Haiti.
Politically, all Caribbean countries, with the exception of communist Cuba, have elected democratic governments. Most of the former British nests have parliamentary kinds of federal government, with the exception of Guyana, the Dominican Republic, Haiti, and Suriname, which are republics headed by presidents. In terms of local integration, 14 of the region's independent nations come from the Caribbean Community (CARICOM), with the exception of the Dominican Republic (which has observer status) and Cuba. CARICOM was formed in 1973 to stimulate local financial combination. Some critics argue that it has been sluggish to promote integration, compared to other regional economic groupings, however progress has been made in moving toward a single financial market and in establishing a Caribbean Court of Justice.
The 6 OECS countries likewise share a common currency, the Eastern Caribbean dollar, with financial policy handled by the Eastern Caribbean Central Bank. The Caribbean Development Bank (CDB), headquartered in Barbados, promotes financial development and local integration. With the exception of Cuba and Haiti, regular elections have actually been the norm, and for the most part have been complimentary and reasonable. In 2005, Dominica and Suriname held elections in May, and St. Vincent and the Grenadines held elections in December. Haiti was expected to hold elections in 2005, but considerable problems and political instability resulted in those elections being held off several times, until they were eventually hung on February 7, 2006.
Effective elections eventually were held on August 28, 2006, without the political violence that some observers had actually expected. Looking ahead, parliamentary elections are due in St. Lucia by December 2006, while elections in the Bahamas, Jamaica, and Trinidad and Tobago are due in 2007. (See for a listing of leaders and elections for head of government.) Although lots of Caribbean nations have preserved long democratic traditions, they are not immune from terrorist and other threats to their political stability. In 1993, stability on St. Kitts was threatened following violent demonstrations after disputed elections; order was brought back with the help of security forces from surrounding states.
Earlier in the 1980s, the federal government of Eugenia Charles in Dominica was threatened by a strange coup plot including foreign mercenaries. And obviously, Grenada, under the socialist-oriented government of Maurice Bishop, experienced a break from the democratic standard after it presumed power in a nearly bloodless coup in 1979 and installed a people's revolutionary federal government. After the violent topple and murder of Bishop in 1983, the United States intervened to restore order and end the Cuban existence on the island. Numerous Caribbean nations experienced a financial depression in 2001-2002 due to recessions in the tourist and agriculture sectors, although most Caribbean economies have rebounded because 2003.
financial recession and sluggish recovery. The banana and sugar sectors in the Eastern Caribbean were damaged by a tropical storm in 2002 and a dry spell in 2003. Both sectors face unsure futures in light of the European Union's strategy to phase out preferred market gain access to from former Caribbean nests for bananas by 2006 and for sugar by 2009. The Haitian economy experienced decrease beginning in 2001, with political instability exacerbating currently hard financial conditions in the hemisphere's poorest country. The strongest carrying out economies in the last few years have actually been those of the Dominican timeshare foreclosures Republic, sustained by the apparel sector, and Trinidad https://www.bloomberg.com/press-releases/2019-08-06/wesley-financial-group-provides-nearly-6-million-in-timeshare-debt-relief-in-july and Tobago, with significant energy resources.
In 2004 and 2005, the region's strongest financial performers balancing development rates over 5% for those 2 years, were Antigua and Barbuda, Cuba, the Dominican Republic, St. Kitts, St. Lucia, Suriname, and Trinidad and Tobago. Those nations not faring well in 2004 due to the fact that of ravaging cyclones and hurricanes included Haiti, with a 3. 5%% decrease in gdp (GDP), and Grenada, with a GDP decrease of 3%. For 2005, however, Grenada's economy rebounded with growth over 5%, while Haiti's growth was 1. 8%. In Guyana, financial growth has been stagnant or very little over the previous numerous years. In 2005, the economy decreased 3% since of high oil costs and floods, which early in the year significantly impacted farming and mining activities.
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Nevertheless, some observers have actually also been worried about the region's high level of public financial obligation, with numerous Caribbean countries having debt levels that surpass 100% of their GDP. U.S. interests in the Caribbean vary, and include economic, political, and security concerns. During the Cold War, security issues tended to eclipse other policy interests. In the after-effects of the Cold War, other U.S. policy interests emerged from the shadow of the East-West conflict in the Caribbean that concentrated on concerns about the Soviet and Cuban threat. U.S. policy concerns shifted from one stressing security issues to a new focus on strengthened economic relations through trade and investment.
interest in the Caribbean. The Administration describes the Caribbean as America's "third border," with events in the area having a direct effect on the homeland security of the United States. It describes Caribbean countries as "vital partners on security, trade, health, the environment, education, local democracy, and other hemispheric concerns." The United States has close relations with most Caribbean nations, with the exception of Cuba under Fidel Castro. The U.S.-Caribbean relationship is defined by extensive economic linkages, cooperation on counter-narcotics efforts and security, and a significant U.S. foreign support program supporting a variety of projects to strengthen democracy, promote financial development and advancement, ease poverty, and combat the AIDS epidemic in the region. Customs and Border Protection of the Department of Homeland Security. The CSI program assists guarantee that high-risk containers are determined and checked at foreign ports before they are positioned on vessels for delivery to the United States. In September 2006, three Caribbean ports became operational CSI ports: Caucedo, Dominican Republic; Kingston, Jamaica; and Freeport, Bahamas. Other Latin American ports in the CSI program are the Central American port of Puerto Cortes, Honduras, and the South American ports of Buenos Aires, Argentina, and Santos, Brazil. In the 108th Congress, a legal initiative called for additional foreign help in order to improve foreign port security worldwide, however no last action was finished prior to the end of the session.
2279 (Hollings), in September 2004, which would have provided for the Administrator of the Maritime Administration, in coordination with the Secretary of State, to recognize foreign assistance programs that might facilitate implementation of port security antiterrorism measures in foreign countries. The act likewise would have required a report on the security of ports in the Caribbean Basin, consisting of an assessment of the efficiency of the measures employed to improved security at such ports and an evaluation of the resources and program modifications required to maximize security at Caribbean Basin ports. In the 109th Congress, two bills would offer foreign help programs for Caribbean Basin ports.
744 (Nelson, Bill), introduced April 11, 2005, would establish a Caribbean Basin Port Assistance Program. Under the legal effort, the Administrator of MARAD in the Department of Transportation, in coordination with the Secretary of State, would determine foreign assistance programs that might facilitate application of port security antiterrorism procedures at Caribbean Basin ports. The Administrator and the Secretary would establish a program for such help in assessment with the Company of American States. In addition, the Secretary of Homeland Security would be needed to send a report to Congress on status of port security in Caribbean Basin countries. S. 1052 (Stevens), the Transport Security Enhancement Act of 2005, includes an arrangement (Area 504) that would develop a program to help with implementation of port security antiterrorism procedures in foreign countries, with specific emphasis on ports in the Caribbean Basin; this costs was presented May 17, 2005, and reported by the Senate Committee on Commerce, Science, and Transport on February 27, 2006 (S.Rept.
2791 (Stevens), presented May 11, 2006. Increasing criminal activity is a significant security challenge throughout the Caribbean. The murder rate in Jamaica continues to skyrocket, with 1,445 individuals killed in 2004 and more than 1,600 individuals in 2005. With rate of 60 murders per 100,000 inhabitants in 2005, Jamaica had the greatest murder rate in the world. In late February 2006, Jamaicans were surprised over the ruthless killings of six relative, consisting of four kids in the western part of timeshare unit the nation. High levels of violent criminal offense, including murder and kidnaping, likewise have actually plagued Trinidad and Tobago and Haiti. Even smaller sized Caribbean countries like St.
On April 22, 2006, Guyana's Farming minister, along with his 2 siblings and a security guard, were shot and killed in an apparent break-in. Gangs associated with drug trafficking, extortion, and violence are accountable for much of the crime. Some observers think that lawbreakers deported from the United States have actually added to the area's surge in violent criminal offense recently, although some maintain that there is no recognized link. Jamaica has advocated the advancement of an international procedure regarding the deportation of crooks. A major concern for Caribbean nationsthe majority of which are net energy importershas been the increasing price of oil and the potential result of such increasing costs on financial growth and social stability.
Of these, only Trinidad and Tobago is a major oil and gas manufacturer, representing 60% of proven oil reserves and 91% of natural gas reserves in the region. The country is also the largest provider of liquified natural gas (LNG) to the United States, representing 75% of all U.S. LNG imports. Apart from Trinidad and Tobago, Cuba also produces oil, however still imports a bulk of its consumption requires. Barbados also produces a percentage of oil, which is refined in Trinidad and Tobago, but it imports 90% of its oil usage requirements. Venezuela is now using oil to Caribbean countries on preferential terms in a brand-new program understood as Petro, Caribe, and there has actually been some U.S.
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Considering that 1980, Caribbean nations have actually benefitted from preferential oil imports from Venezuela (and Mexico) under the San Jose Pact, and since 2001, Venezuela has offered additional support for Caribbean oil imports under the Caracas Energy Accord. Petro, Caribe, however, would go further with the goal of putting in place a local supply, refining, and transport and storage network, and establishing a development fund for those nations participating in the program. What jobs can i get with a finance degree. Under the program, Venezuela announced that it would provide 190,000 barrels daily of oil to the area, with countries paying market value for 50% of the oil within 90 days, and the balance paid over 25 years at an annual rate of 2%.
To date, 14 Caribbean nations are signatories of Petro, Caribe. Barbados, which currently gets discounted petroleum rates from Trinidad, has actually decreased to sign the agreement, and Trinidad, which has its own substantial energy resources, has actually declined to sign. (For extra info, see CRS Report RL33693, Latin America: Energy Supply, Political Developments, and U.S. Policy Approaches, by [author name scrubbed], [author name scrubbed], and [author name scrubbed]) The AIDS epidemic in the Caribbean, where infection rates are amongst the greatest outside of sub-Saharan Africa, has currently started to have unfavorable consequences for economic and social development in the region. In 2005, an estimated 300,000 grownups and kids in the Caribbean were reported to be dealing with HIV, with the epidemic declaring 24,000 lives throughout the year, making it the leading cause of death amongst adults aged 15-44 years.