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St Kitts National Bank reports Net Income of EC$45 million after tax in 2011

Basseterre - Feb. 9, 2012 - Ahead of its 41st Annual General Meeting next week, the St. Kitts-Nevis-Anguilla National Bank is reporting that total assets grew from EC$2.27 billion as at 30th June 2010 to EC$2.48 billion as at the 30th June 2011.

Trinidad: Govt gets $134m from EU for sugar revamp

Port-of-Spain - Feb. 9, 2012 - The European Union (EU) handed over a cheque for 16.585 million euros (TT$134.2 million) to the Government yesterday to aid in restructuring the country's sugar industry.

Trinidad: Inflation Ends 2011 at 5.3 percent: Central Bank Maintains Repo Rate at 3%

Port-of-Spain -- Feb. 1, 2012 - The final figures released by the Central Statistical Office for 2011 indicate that headline inflation slowed to 5.3 percent on a year-­‐on-­‐year basis in December from 5.7 percent in the previous month. On a monthly basis, headline inflation increased by just 0.1 percent in December compared to an increase of 1.2 percent in November.

Barbados Launches Financial Stability Report

Bridgetown - Jan. 29, 2012 - The Report identifies and assesses risks to the domestic financial system. Its primary goal is to promote financial stability by providing insights that allow the domestic regulators - the Bank and the Financial Services Commission (FSC ) - to better anticipate systemic problems and design effective policy responses.

Foreign Account Tax Compliance Act (FATCA) to Affect Region

St John’s, Antigua - Jan. 24, 2012 - With less than a year remaining before a US law relating to offshore accounts goes into effect, a Caribbean accounting firm has embarked on a region-wide sensitisation programme to alert businesses about the potential impact.

Bahamas and Malta sign Tax Information Exchange Agreement

London, UK - Jan. 19, 2012 - An Agreement for the Exchange of Information Relating to Tax Matters was signed between the Governments of the Commonwealth of The Bahamas and Malta in London on Wednesday, January 18, 2012.

ECCU looking at debt management strategy

Basseterre - Jan. 19, 2012 - Formulation of a debt management strategy for member nations of the eastern Caribbean currency Union (ECCU) was among challenging and pressing issues discussed at a one-day meeting of the Eastern Caribbean Monetary Council in Antigua on Saturday 14th January.


Trinidad: Inflation Rises to 5.7% Nov. 2011: Central Bank Maintains Repo Rate at 3%

Jan. 1, 2012 - The latest data released by the Central Statistical Office show that inflation continued to creep up in November. Headline inflation, measured by the 12 month increase in the Index of Retail Prices rose to 5.7 per cent in November, up from 3.7 per cent in the previous month. On a monthly basis the general price level rose by 1.2 percent in November, following a decline of 0.1 percent in October.

Jamaica and China Exchange Tax Agreement to Strengthen Tax Improvement Measures

Kingston - Nov. 24, 2011 -  Cabinet has approved a Tax Information Exchange Agreement between Jamaica and Macao, China. This agreement will strengthen administrative cooperation on taxes between both parties and improve the capacity to monitor taxpayers and the appropriate revenue owed to each jurisdiction.

S&P Lowers Outlook On Barbados, Citing Stubborn Debt

Nov. 22, 2011 - Standard & Poor's Ratings Services lowered its outlook on Barbados, raising the likelihood of a downgrade to junk-grade status, as the Caribbean nation's debt burden continued to widen.

Central Bank relinquishes control of ECAB

St John's, Antigua - Nov. 14, 2011 - The Eastern Caribbean Central Bank (ECCB) has relinquished control of the Eastern Caribbean Amalgamated Bank (ECAB), formerly Bank of Antigua after more than two years.

Barbados-Canada Tax Agreement Amended

Bridgetown -- Nov. 9, 2011 - Barbados and Canada today amended its 30-year old Double Taxation Agreement (DTA) to bring it in line with standards set by the Organisation for Economic Co-operation and Development (OECD) and improve the mechanism for the exchange of tax information between the two countries.

Bahamas: Finance Ministry Responds to Standard and Poor's Downgrade of Country's Credit Rating

Nassau - Nov. 1, 2011 -- The Ministry of Finance acknowledges the decision of Standard and Poors to lower The Bahamas’ Credit Rating from BBB+/A-2, to BBB/A-3 and its transfer and currency convertibility assessment from A- to BBB+.

Trinidad: Inflation Rises to 2.5%: Central Bank Maintains Repo Rate at 3%

Port-of-Spain -- Oct. 29, 2011 - Recent data released by the Central Statistical Office indicate that there was a slight pick--up in domestic inflation in September. Headline Inflation, measured by the 12--month increase in the Index of Retail  Prices, rose to 2.5 per cent in September 2011 after having slowed to an historic low of 0.6 percent in August 2011.

Grenada: Finance Minister announces investigation into Taiwan loans

St. George's, Grenada, CMC - Oct. 27, 2011 - Finance Minister Nazim Burke says he has ordered an investigation to determine whether or not  the EC$76 million (US$28.1 million) in loans given to Grenada before it broke off diplomatic relations in 2005, had been approved by Parliament.

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