The 20-Second Trick For What Is A Consumer Finance Account

The area includes 13 island nations, from the Bahamas in the north to Trinidad and Tobago in the south; Belize, which is geographically located in Central America; and the 2 countries of Guyana and Suriname, situated on the north central coast of South America. Many nations in the area share a common 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 vary from Haiti in 1804 to St. Kitts and Nevis in 1983. The biggest countries in terms of acreage are Guyana and Suriname, while those with the biggest populations are Cuba, the Dominican Republic, and Haiti.

Politically, all Caribbean countries, with the exception of communist Cuba, have actually elected democratic governments. Most of the former British colonies have parliamentary forms of federal government, with the exception of Guyana, the Dominican Republic, Haiti, and Suriname, which are republics headed by presidents. In terms of local combination, 14 of the region's independent countries belong to the Caribbean Neighborhood (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 slow to promote integration, compared to other local economic groupings, but development has been made in moving toward a single economic market and in establishing a Caribbean Court of Justice.

The six OECS countries likewise share a common currency, the Eastern Caribbean dollar, with monetary policy handled by the Eastern Caribbean Central Bank. The Caribbean Development Bank (CDB), headquartered in Barbados, promotes financial advancement and regional combination. With the exception of Cuba and Haiti, regular elections have been the standard, and for the many part have been free and reasonable. In 2005, Dominica and Suriname held elections in Might, and St. Vincent and the Grenadines held elections in December. Haiti was anticipated to hold elections in 2005, but substantial problems and political instability led to those elections being delayed several times, until they were eventually hung on February 7, 2006.

Effective elections ultimately were hung 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 many Caribbean nations have kept long democratic traditions, they are not immune from terrorist and other hazards to their political stability. In 1993, stability on St. Kitts was threatened following violent demonstrations after challenged elections; order was restored with the support of security forces from neighboring states.

Previously in the 1980s, the government of Eugenia Charles in Dominica was threatened by an unusual coup plot involving foreign mercenaries. And naturally, Grenada, under the socialist-oriented federal government of Maurice Bishop, experienced a break from the democratic standard after it presumed power in a nearly bloodless coup in 1979 and installed an individuals's innovative federal government. After the violent overthrow and murder of Bishop in 1983, the United States intervened to restore order and end the Cuban existence on the island. Numerous Caribbean countries experienced a financial depression in 2001-2002 due to declines in the tourist and farming sectors, although most Caribbean economies have actually rebounded considering that 2003.

economic recession and slow recovery. The banana and sugar sectors in the Eastern Caribbean were damaged by a tropical storm in 2002 and a drought in 2003. Both sectors face unpredictable futures in light of the European Union's strategy to phase out favored market access from previous Caribbean colonies for bananas by 2006 and for sugar by 2009. The Haitian economy experienced decrease beginning in 2001, with political instability exacerbating already challenging financial conditions in the hemisphere's poorest nation. The strongest carrying out economies in current years have actually been those of the Dominican Republic, sustained by the clothing sector, and Trinidad and Tobago, with significant energy resources.

In 2004 and 2005, the area's strongest economic performers averaging 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 countries not faring well in 2004 since of devastating typhoons and hurricanes included Haiti, with a 3. 5%% decline in gdp (GDP), and Grenada, with a GDP decline of 3%. For 2005, nevertheless, Grenada's economy rebounded with development over 5%, while Haiti's development was 1. 8%. In Guyana, economic growth has actually been stagnant or minimal over the past numerous years. In 2005, the economy declined 3% because of high oil rates and floods, which early in the year seriously impacted farming and mining activities.

An Unbiased View of How To Finance A Startup Business

Nevertheless, some observers have likewise been worried about the area's high level of public financial obligation, with several Caribbean countries having debt levels that go beyond 100% of their GDP. U.S. interests in the Caribbean vary, and include financial, political, and security concerns. Throughout the Cold War, security concerns 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 dispute in the Caribbean that concentrated on concerns about the Soviet and Cuban hazard. U.S. policy concerns moved from one stressing security concerns to a brand-new concentrate on strengthened financial relations through trade and investment.

interest in chuck mcdowell timeshare the Caribbean. The Administration describes the Caribbean as America's "3rd border," with occasions in the region having a direct impact on the homeland security of the United States. It explains Caribbean nations as "vital partners on security, trade, health, the environment, education, local democracy, and other hemispheric issues." The United States has close relations with the majority of Caribbean countries, with the exception of Cuba under Fidel Castro. The U.S.-Caribbean relationship is defined by extensive financial linkages, cooperation on counter-narcotics efforts and security, and a large U.S. foreign assistance program supporting a range of tasks to enhance democracy, promote economic development and development, reduce poverty, and fight the AIDS epidemic in the area. Customs and Border Protection of the Department of Homeland Security. The CSI program helps guarantee that high-risk containers are recognized and examined at foreign ports before they are positioned on vessels for delivery to the United States. In September 2006, 3 Caribbean ports ended up being operational CSI ports: Caucedo, wesley group 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 required additional foreign help in order to enhance foreign port security worldwide, however no last action was finished before completion of the session.

2279 (Hollings), in September 2004, which would have attended to the Administrator of the Maritime Administration, in coordination with the Secretary of State, to recognize foreign assistance programs that could assist in implementation of port security antiterrorism steps in foreign nations. The act likewise would have required a report on the security of ports in the Caribbean Basin, including an evaluation of the effectiveness of the measures used to improved security at such ports and an evaluation of the resources and program changes required to optimize security at Caribbean Basin ports. In the 109th Congress, two expenses would offer for foreign help programs for Caribbean Basin ports.

744 (Nelson, Bill), introduced April 11, 2005, would develop a Caribbean Basin Port Assistance Program. Under the legal initiative, the Administrator of MARAD in the Department of maintenance fee calculator Transportation, in coordination with the Secretary of State, would recognize foreign support programs that might help with execution of port security antiterrorism steps at Caribbean Basin ports. The Administrator and the Secretary would establish a program for such support in consultation with the Company of American States. In addition, the Secretary of Homeland Security would be required to send a report to Congress on status of port security in Caribbean Basin nations. S. 1052 (Stevens), the Transport Security Improvement Act of 2005, consists of a provision (Section 504) that would develop a program to help with application of port security antiterrorism procedures in foreign nations, with specific emphasis on ports in the Caribbean Basin; this bill was presented May 17, 2005, and reported by the Senate Committee on Commerce, Science, and Transport on February 27, 2006 (S.Rept.

2791 (Stevens), introduced May 11, 2006. Increasing criminal offense is a major security obstacle throughout the Caribbean. The murder rate in Jamaica continues to soar, with 1,445 people eliminated in 2004 and more than 1,600 individuals in 2005. With rate of 60 murders per 100,000 residents in 2005, Jamaica had the greatest murder rate in the world. In late February 2006, Jamaicans were shocked over the brutal killings of six family members, consisting of four young kids in the western part of the country. High levels of violent criminal activity, consisting of murder and kidnaping, likewise have actually afflicted Trinidad and Tobago and Haiti. Even smaller sized Caribbean countries like St.

On April 22, 2006, Guyana's Agriculture minister, along with his 2 brother or sisters and a guard, were shot and killed in an evident burglary. Gangs involved in drug trafficking, extortion, and violence are accountable for much of the criminal offense. Some observers believe that lawbreakers deported from the United States have actually added to the region's surge in violent criminal offense in the last few years, although some preserve that there is no recognized link. Jamaica has actually promoted the advancement of a global procedure concerning the deportation of wrongdoers. A significant concern for Caribbean nationsthe bulk of which are net energy importershas been the rising price of oil and the possible effect of such rising rates on economic development and social stability.

Of these, just Trinidad and Tobago is a significant oil and gas manufacturer, representing 60% of tested oil reserves and 91% of natural gas reserves in the region. The nation is likewise the largest supplier of liquified natural gas (LNG) to the United States, accounting for 75% of all U.S. LNG imports. Apart from Trinidad and Tobago, Cuba likewise produces oil, however still imports a bulk of its consumption needs. Barbados likewise produces a small quantity of oil, which is refined in Trinidad and Tobago, however it imports 90% of its oil usage requirements. Venezuela is now using oil to Caribbean countries on preferential terms in a new program called Petro, Caribe, and there has actually been some U.S.

See This Report about What Does Ach Stand For In Finance

Considering that 1980, Caribbean countries have actually benefitted from preferential oil imports from Venezuela (and Mexico) under the San Jose Pact, and because 2001, Venezuela has actually provided additional assistance for Caribbean oil imports under the Caracas Energy Accord. Petro, Caribe, nevertheless, would go even more with the goal of putting in place a regional supply, refining, and transportation and storage network, and establishing a development fund for those nations participating in the program. How to find the finance charge. Under the program, Venezuela announced that it would provide 190,000 barrels each day of oil to the area, with nations paying market costs for 50% of the oil within 90 days, and the balance paid over 25 years at a yearly rate of 2%.

To date, 14 Caribbean countries are signatories of Petro, Caribe. Barbados, which currently receives discounted petroleum rates from Trinidad, has actually declined to sign the contract, and Trinidad, which has its own considerable 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 among the highest beyond sub-Saharan Africa, has actually currently started to have unfavorable consequences for economic and social advancement in the area. In 2005, an approximated 300,000 grownups and children in the Caribbean were reported to be dealing with HIV, with the epidemic claiming 24,000 lives during the year, making it the leading cause of death amongst adults aged 15-44 years.

This website was created for free with Webme. Would you also like to have your own website?
Sign up for free