Caribbean round-up: regional payments plan, Guyana Development Bank, Kenscoff massacre report
Also: Jamaica's finance minister says the economy is recovering from Hurricane Melissa, and Trinidad and Tobago signs air services deals with Panama and Ghana.
CARICOM
Regional central banks are advancing plans for the Caricom Payment and Settlement System (CAPSS), which would allow instant cross-border payments in local currencies, reducing costs and reliance on foreign currencies. Representatives of Africa's Pan-African Payment and Settlement System visited Trinidad and Tobago to share their experience at a meeting hosted by Central Bank Governor Larry Howai.
"A modern and efficient cross-border payments infrastructure is critical to deepening regional integration," said Dr Dorian Noel, adding that "considerable work remains ahead".
Guyana
President Irfaan Ali said the Guyana Development Bank, due to open on October 5 with US$100 million in initial capital, will offer loans of up to G$3 million, including zero-interest and zero-collateral options, with a focus on hinterland and riverine communities. "This is not a grant. This is your opportunity to earn," he said, adding that it would not compete with commercial banks.
Haiti
A Haitian human rights group said at least 164 people were killed, more than 70 kidnapped and dozens remain missing after gang attacks in Kenscoff. The report, based on interviews with officials and more than 100 victims and relatives, said security in the area was cut by 60% before the attack, an armoured vehicle was withdrawn for lack of personnel, and requests for two more vehicles were ignored. Government officials said they were unaware of attack plans but had noticed drones.
Jamaica
Finance Minister Fayval Williams said the economy was recovering almost a year after Hurricane Melissa, which caused 45 deaths and an estimated US$12.2 billion in losses. She said Jamaica had avoided an IMF programme, a run on the currency and prolonged austerity, though the deficit would be Ja$2.5 billion wider than planned. "Not everyone is back to where they were just yet," she said, rejecting suggestions of a recession.
Trinidad and Tobago
Prime Minister Kamla Persad-Bissessar held talks at the UN General Assembly with Ghanaian President John Dramani Mahama, covering trade, investment, air transport and reparations, and with India's External Affairs Minister Dr S. Jaishankar on economic cooperation and Exim Bank financing. Trinidad and Tobago signed air services agreements with Panama and Ghana on September 21, which Minister Eli Zakour said would improve connectivity with Latin America and Africa.
