Pulse of the Caribbean

#68 Caribbean News Round Up Episode 1 Week of June 30

• Pulse of the Caribbean

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The Caribbean is witnessing a wave of economic innovation and regional collaboration that promises to reshape its future, as highlighted in the latest Pulse of the Caribbean News Roundup. 

  • Caribbean Payment and Settlement System card unveiled, enabling trade payments unveiled at Afreximbank 32nd Annual Meeting in Abuja, Nigeria.
  • Dominican leads Caribbean egg exports along with the lowest average prices in Latin America
  • Trinidad and Tobago continuing collaboration with Grenada on oil and gas exploration
  • Guyana positioning itself as "a dynamic new frontier for global tourism" 
  • Proposed Taino demonstration village near Megan's Bay in St. Thomas would showcase indigenous heritage 

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This podcast is brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and Half Marathon. August 30th, labor Day weekend. St Thomas, us Virgin Islands, and Diamond Key. Marina, yosvendike, british Virgin Islands, home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Welcome to the Pulse of the Caribbean. News Roundup, episode 1 for the week of June 30th. Here's a look at what's making Caribbean headlines. We start our report.

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At the African Export-Import Bank's 32nd Annual Meeting, the Pan-African Payment and Settlement System unveiled its new debit card, which is set to revolutionize the way trade payments are made across Africa. At the unveiling event, the payment scheme's head, mike Obula, said that the card for the Caribbean Payment and Settlement System is not far behind. The Caribbean payment and settlement system card was revealed on Friday during the African Export-Import Bank's 32nd annual meeting at the Transcorp Hilton in Abuja, nigeria. The Pan-African payment and settlement system presently enables trade payments to be made easily across 16 African countries that have integrated the system across 160 commercial banks, with payments settled in each country's national currency. The African Export-Import Bank saw the need to develop the system in order to allow increased trade between countries. Similarly, it saw the need when it admitted the Caribbean governments into its system and promptly began developing the Caribbean Payment and Settlement System card. Both the Bahamas and Barbados participated in a pilot Caribbean Payment and Settlement Card System process, which was described as a resounding success by the chief operating officer of the African Export-Import Bank Caribbean branch.

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Our next stop is the Dominican Republic. The Agricultural Bank of the Dominican Republic and the National Irrigation Technology Directorate are offering up to 35 percent non-reimbursable cash to update irrigation systems for agricultural farmers in the San Juan province of the Dominican Republic. The fund for the promotion of the modernization of the National Irrigation Systems Southern Area implementation is included in this effort. $100 million will be utilized to improve irrigation for 470,000 acres over four years. A launch event was held at the Autonomous University of Santo Domingo, headed by the National Irrigation Technology Director and Director and the Agricultural Bank of the Dominican Republic Technical Deputy Administrator. They stated that the promotion of the modernization of the National Irrigation System Fund will cover up to 35 percent of irrigation modernization projects to include training, water conduction, filtration, fertilization and drainage. Small and medium-sized producers, individuals or legal entities are eligible for the promotion. Proposals will be based or scored on financial contribution and project cost efficiency.

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According to the 2024 report by Latin America Egg Institute and the Latin America Poultry Association, the Dominican Republic exports 20.73% of its egg production, that's 820 million units, making it the Caribbean leader in proportional egg exports. The Dominican Republic Poultry Association President Pavel Casimcion, noted that the country exports 45.77 percent of Caribbean eggs, exceeding larger Latin American economies. The Dominican Republic has the lowest average egg price in Latin America at $1.87 per dozen, resulting in a strong domestic consumption of 293 eggs per person, ranking sixth. Concepcion also noted that the poultry business is growing, with 22.5 million eggs per month, one million more than in 2024, meeting national demand with quality standards. The industry intends to invest around $7 billion by 2025. A chicken refrigeration factory that can hold 8 million pounds and an egg processing plant that makes liquid and powdered egg products for local and global markets are being planned.

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Now on to Trinidad and Tobago. Minister of Energy and Energy Industries, dr Rudol Munilal, has confirmed that the government of Trinidad and Tobago will continue to work with Grenada to explore oil and gas in its waters. He also announced that the National Gas Company and the Global Petroleum Group will work together. Again On June 23, 2025, a meeting was held. The ministry said that the relationship came about because of the Energy Sectors Development Framework Agreement that the government of Trinidad and Tobago and Grenada signed in 2012. The deal was considered a big step forward in CARICOM's work together on energy, which would help the region expand its economy. Minister Mounalal said that the government of Trinidad and Tobago is committed to working with Grenada and would aggressively seek out talks that would help develop the country's relations in a strategic way and renew partnership agreements between the National Gas Company and the Global Petroleum Group.

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Next up, guyana plans expansion of its tourism product after this. This is the Pulse of the Caribbean News Roundup, episode 1, for the week of June 30th. Guyana's President, dr Mohamed Ifram Ali, said that Guyana will no longer be South America's best-kept secret secret. President Ali remarked on Friday at the opening of the King's Hotel and Residence in Georgetown that the country is now ready to become a dynamic new frontier for global tourism. He said that Guyana is actively going for specialty and high value markets, including medical tourism, wellness and spa retreats, agro-tourism, sports and entertainment. A report from its Department of Public Information says that Guyana is becoming a tourist destination that is closely linked to its nature. This includes luxury eco-lodges in Pakuri, marina developments along the Demerara River and a port at Parika. Plans are in the works to build a world-class indoor stadium that can hold up to 15,000 people. It will be able to host boxing events, concerts and even mixed martial arts championships.

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And here's our final note. The Virgin Islands Consortium reports that the OP, taino International President, maquipan Phillips, proposed a Taino demonstration village on St Thomas near the Megan's Bay. Taino tribe in the Virgin Islands requested permission from the Megan's Bay Authority to construct three-style Taino cottages which would be used to teach the community about Taino heritage. Heritage officials in the Virgin Islands. According to the state Heritage officials in the Virgin Islands. According to the state, according to the Virgin Islands State Historic Preservation Office director, sean Kriger, megan's Bay on St Thomas is a major Native American site. He said that there are several documented villages at the site. Therefore, a demonstration village would be a fit for the location.

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This podcast has been brought to you by Victory Run Walk, sponsored by the US Virgin Islands Department of Tourism. Register now for the 5K, 10k and Half Marathon. August 30th, labor Day weekend. St Thomas, us Virgin Islands and Diamond Key, marina, yosvendike, british Virgin Islands. Home of Foxy's Taboo and Gateway to the Bubbly Pool, a natural jacuzzi and hidden gem. Have news and information you'd like to share with us? Send news releases to news at pulseofthecaribbeancom. This has been your Pulse of the Caribbean News Roundup, episode 1, for the week of June 30th. Here's a shout-out to our listeners in the US Virgin Islands and in. Thank you.