Caribbean round-up: Barbados launches BiMPay, Haiti official kidnapped, St Lucia extends tax amnesty
Also: the Caribbean Development Bank signs a US$25 million trade finance guarantee with IDB Invest.
Barbados
The Central Bank of Barbados has launched BiMPay, an instant payment system that lets individuals and businesses send and receive money within seconds, 24 hours a day, including weekends and public holidays. Prime Minister Mia Amor Mottley made the first transaction, sending money to a local vendor.
“A modern economy needs a modern payment system,” said Central Bank Governor Kevin Greenidge. Six commercial banks and the island’s three largest credit unions are connected, and seven institutions are linked to the BiMPay e-wallet, which allows payments using phone numbers, email addresses or QR codes.
Caribbean Development Bank
The Barbados-based Caribbean Development Bank has signed a US$25 million guarantee facility with IDB Invest to expand access to trade finance in smaller Caribbean markets, under IDB Invest’s Trade Finance Facilitation Programme. The bank said access to reliable trade finance remains a major constraint for many businesses in the region.
Haiti
James Boyard, cabinet director of Haiti’s Defence Ministry and inspector general of the national police, has been abducted by armed men, authorities said. He was taken in Bourdon, a Port-au-Prince neighbourhood still considered relatively secure.
About 70 per cent of the capital is believed to be under the influence of the Viv Ansanm gang alliance, which the United States designated a foreign terrorist organisation last year. Diego Da Rin of the International Crisis Group said the abduction appeared carefully planned. A UN report said at least 267 people were kidnapped between December 2025 and February 2026.
St Lucia
The St Lucia government has extended its tax amnesty until the end of December next year, waiving interest and penalties on qualifying overdue taxes. Prime Minister Philip J. Pierre described it as one of the most generous tax relief measures ever introduced by a government.
“What is important to note is that all interest and penalties due on taxes up to December 2025 will be waived,” he said. The amnesty, originally due to end in May 2026, covers VAT, income tax, property tax and other statutory payments.
