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Guyana Signs Major Offshore Oil Deal With QatarEnergy, TotalEnergies and PETRONAS

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News Americas, GEORGETOWN, Guyana, Weds. Nov. 12, 2025: The Government of Guyana has inked a new Production Sharing Agreement (PSA) for shallow-water Block S4 offshore Guyana with a consortium led by global energy giants QatarEnergy, TotalEnergies, and PETRONAS.

The deal, signed through the Ministry of Natural Resources, marks another milestone in Guyana’s growing oil and gas industry. Under the agreement, TotalEnergies will serve as the operator with a 40% stake, while QatarEnergy and PETRONAS will hold 35% and 25% respectively.

The Government of Guyana has inked a new Production Sharing Agreement (PSA) for shallow-water Block S4 offshore Guyana with a consortium led by global energy giants QatarEnergy, TotalEnergies, and PETRONAS.

Awarded under Guyana’s first-ever licensing round in 2022, the PSA includes a US$15 million signing bonus and underscores continued investor confidence in the country’s hydrocarbon sector.

Minister of Natural Resources, Vickram Bharrat, hailed the signing as a signal of Guyana’s global appeal. “We are pleased to welcome QatarEnergy, TotalEnergies and PETRONAS as new partners in Guyana’s petroleum sector,” Bharrat said. “This investment demonstrates continued international confidence in Guyana’s transparent and robust licensing framework, and it reflects our government’s commitment to ensuring that the development of our natural resources is done sustainably and for the benefit of all Guyanese.”

Block S4 covers roughly 1,788 square kilometers, located between 50 and 100 kilometers off Guyana’s coast, in water depths ranging from 30 to 100 meters. The Ministry said exploration will adhere to both national regulatory standards and international best practices for environmental protection.

TotalEnergies’ Vice President of Exploration for the Americas, Daniel Larrañaga, expressed eagerness to begin operations, saying:

“We want to go fast. We want to explore this basin as soon as we can.”

The Ministry of Natural Resources reaffirmed the government’s commitment to environmental stewardship, transparency, and maximizing local participation in all petroleum activities.

With this latest agreement, Guyana continues to solidify its status as one of the world’s fastest-emerging energy producers—balancing rapid sector growth with a pledge to responsible development and national benefit.

Jamaica: Damage From Hurricane Melissa Nears One-Third of GDP

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By NAN Business Writer

News Americas, KINGSTON, Jamaica, Tues. Nov. 11, 2025: Jamaica Prime Minister Andrew Holness has revealed that the record-breaking storm caused damages equivalent to nearly one-third of Jamaica’s annual GDP.

Holness told Parliament recentkly that initial assessments show losses of between US$6 and $7 billion – or roughly 28% to 32% of Jamaica’s 2024 economic output -making Melissa the most destructive hurricane in the island’s history.

“This was not just another storm,” Holness declared. “Experts say Melissa pushed the physical limits of what’s possible in the Atlantic, fueled by record sea temperatures. Its force was so immense that seismographs hundreds of miles away registered its passage. Hurricane Melissa wasn’t only a tragedy – it was a warning.”

An aerial view shows damaged buildings in the aftermath of Hurricane Melissa, in Westmoreland, Jamaica, on October 31, 2025. At least 19 people in Jamaica have died as a result of Hurricane Melissa which devastated the island nation when it roared ashore this week, a government minister told news outlets late October 31. (Photo by RICARDO MAKYN/AFP via Getty Images)

Fiscal Shock and Recovery Plan

The Prime Minister warned that reconstruction costs will temporarily push up Jamaica’s debt-to-GDP ratio, forcing the government to invoke emergency fiscal provisions. He said the administration will seek support from regional partners, multilateral agencies, and private-sector investors to stabilize the economy.

Preliminary data suggests short-term economic output could shrink by 8% to 13%, a major setback for an economy already strained by Hurricane Beryl last year.

Holness said new measures would focus on climate-resilient rebuilding, including plans to bury sections of the national power grid, upgrade coastal defenses, and waive import taxes on critical relief items such as solar panels and Starlink satellite kits.

“Every repaired bridge, re-roofed home, and rebuilt road must be designed for the storms of tomorrow, not the storms of yesterday,” Holness said.

Regional Impact and Rising Costs of Climate Change

While Jamaica bore the brunt of Melissa’s impact, heavy rains also pummeled Haiti, flooding rivers and destroying nearly 12,000 homes. Haitian officials confirmed 25 deaths, including 10 children.

In Cuba, authorities reported no fatalities after large-scale evacuations near Santiago de Cuba, though they cited massive agricultural and infrastructure losses.

Regionally, AccuWeather estimates total damages from Hurricane Melissa at US $48–52 billion, while Verisk Analytics pegs insured losses in Jamaica alone between US $2.2 billion and $4.2 billion.

Caribbean Leaders Renew Climate Call

The scale of devastation has renewed calls across CARICOM for climate reparations and debt relief from high-emission nations. “This is what climate injustice looks like,” said one regional diplomat. “The Caribbean is paying the price for carbon emissions we didn’t create.”

Holness echoed the sentiment, pledging to champion a regional resilience framework that ties reconstruction to green financing and renewable energy transitions.

“Jamaica will rebuild stronger,” he said. “But the world must listen. Our survival depends on global action, not sympathy.”

Jamaica is set to receive a full $150 million payout under its World Bank backed catastrophe bond following the devastation caused by Hurricane Melissa – marking one of the largest single sovereign insurance redemptions in the Caribbean’s history.

The World Bank, (International Bank for Reconstruction and Development, IBRD AAA/Aaa) confirmed that the payout was automatically triggered after third-party analysis by AIR Worldwide Corporation determined that the hurricane met pre-agreed parametric thresholds based on the storm’s central pressure and path, as reported by the U.S. National Hurricane Center.

And In the wake of Hurricane Melissa’s devastating impact, the Caribbean Catastrophe Risk Insurance Facility, (CCRIF-SPC) has announced a record-breaking US$70.8 million payout to the Government of Jamaica — the largest single payout in the organization’s history.

The Cayman Islands-based Caribbean and Central America Parametric Insurance Facility said the funds will be disbursed within 14 days, pending final model verification, in line with CCRIF’s commitment to speed and transparency.

“This marks the largest single payout in CCRIF’s history and is a powerful demonstration of the organization’s parametric insurance model,” CCRIF said in a statement. This payout is Jamaica’s fourth from CCRIF, bringing the country’s total receipts to US$100.9 million since joining the facility in 2007. Previous payments included US$26.6 million following Hurricane Beryl in 2024 and earlier disbursements after Tropical Cyclones Zeta and Eta in 2020.

Canadian Mining Giant Aris To Build New Airstrip In Guyana

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By News Americas Business Editor

News Americas, GEORGETOWN, Guyana, Mon. Nov. 10, 2025: Canadian mining powerhouse aris-mining-to-build-airstrip-for-14b-toroparu-gold-project-guyana is set to construct a 1,750-metre international-standard airstrip deep in Guyana’s Cuyuni-Mazaruni region, signaling a major step toward full-scale operations at its massive US$14.7 billion Toroparu Gold Project – one of South America’s largest undeveloped gold deposits.

The project, managed through Aris Mining’s local subsidiary, ETK Inc., is expected to deliver an average annual output of 235,000 ounces of gold over a 21-year mine life, along with an estimated 5 million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper.

A Strategic Logistics Hub

According to Aris Mining’s Preliminary Economic Assessment (PEA) reported by Kaiteur News, the new airstrip will replace the existing one that sits within the footprint of the planned main Toroparu pit. The upgraded facility will be capable of handling larger aircraft, serving as a critical logistics and transport hub for personnel, equipment, and supplies.

The airstrip will span 60 metres in width, with a 70-metre safety boundary on both sides, designed in alignment with international aviation standards. It will run parallel to the prevailing southeast wind direction to ensure safe operations year-round.

Aris said the development will include two major security access points — one located along the main access road with truck parking, logistics and security offices, and a temporary aircraft hangar; and another at the processing plant, providing controlled entry between high-security mining zones and general access areas.

Government Partnership and Infrastructure Commitments

The Government of Guyana, through the Ministries of Natural Resources and Public Works, has finalized a road users’ agreement with Aris’ subsidiary, ensuring smooth access to the site. Under the arrangement, ETK will be responsible for maintaining and rehabilitating public roads leading to Toroparu.

The Toroparu project represents one of the largest foreign investments in Guyana’s mining sector and is expected to significantly boost local employment, logistics development, and regional infrastructure.

Billions in Economic Returns

The PEA projects that Guyana stands to earn an estimated US$3.4 billion in taxes and royalties throughout the project’s lifespan. This includes US$2.2 billion in income taxes and US$1.2 billion in royalty payments, based on a base gold price of US$3,000 per ounce.

Financially, the project is forecast to deliver an after-tax Net Present Value (NPV5%) of US$1.8 billion, an Internal Rate of Return (IRR) of 25.2%, and a three-year payback period — underscoring its strong profitability.

Under its Mineral Agreement with the government, Toroparu will pay 8% royalty on gold sales, 1.5% on silver, and 1.5% on copper, all deductible under Guyana’s 30% corporate tax rate.

From Exploration to Expansion

The Toroparu deposit was initially mined by Alfro Alphonso in 1997 and later explored by ETK Inc. under a joint venture with Alphonso starting in 1999. In 2020, ETK acquired full ownership of the property, paying US$20 million to exercise its option, while Alphonso retained rights to alluvial mining and site access.

ETK also holds an investment agreement with GO-Invest, granting tax exemptions on project-related imports — a measure aimed at accelerating development and improving cost efficiency.

A Boost for Guyana’s Gold Industry

Once operational, the Toroparu Gold Project is set to position Guyana as a leading gold producer in the Western Hemisphere, expanding its mining footprint beyond the traditional Omai and Aurora gold belts. The construction of the new airstrip underscores Aris Mining’s long-term commitment to developing Guyana’s resource potential under international environmental and safety standards, the company said.

ExxonMobil Beats Q3 Estimates On Guyana and Permian Output

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BY NAN BUSINESS EDITOR

News Americas, HOUSTON, Fri. Nov. 7, 2025: ExxonMobil, (NYSE: XOM), delivered stronger-than-expected third-quarter earnings, driven by record oil and gas production in Guyana and the Permian Basin that helped offset weaker global crude prices.

The U.S. energy giant reported adjusted earnings of $8.1 billion, or $1.88 per share, for the July–September quarter — surpassing analysts’ consensus estimate of $1.82 per share, according to data from LSEG.

Despite the earnings beat, free cash flow dropped to $6.3 billion, down sharply from $11.3 billion in the same period last year, as ExxonMobil increased capital spending to expand its acreage in the Permian Basin. Shares initially fell by nearly 2% in Friday trading before later recovering to end flat at $114.64.

“Higher expenditures counteracted what was otherwise positive earnings news that included a dividend increase,” noted TPH & Co analyst Jeoffrey Lambujon.

Production Surges in Key Growth Regions

ExxonMobil’s total production rose to 4.8 million barrels of oil equivalent per day (boepd), up from 4.6 million boepd in the prior quarter, marking record output levels from both Guyana’s Stabroek Block and the Permian Basin in Texas and New Mexico.

These two regions remain critical to Exxon’s long-term growth strategy, as Guyana continues to emerge as one of the world’s most prolific new oil provinces. The company, along with its partners Hess Corporation and CNOOC, has made more than 30 discoveries offshore Guyana since 2015.

Global Oil Price Pressures

While operational performance was strong, ExxonMobil faced a challenging pricing environment. Brent crude averaged $68.17 per barrel during the third quarter – down about 13% from a year earlier — as OPEC+ output increases and a U.S.-led tariff dispute weighed on global demand and investor sentiment.

Energy analysts say ExxonMobil’s ability to post profit growth despite lower prices underscores its strategic pivot toward high-margin assets like Guyana, the Permian, and LNG operations.

The company’s results come amid broader industry turbulence, as global oil majors navigate volatile prices, geopolitical headwinds, and accelerating energy transitions.

World Bank To Payout One Of The Largest Single Sovereign Insurance Redemptions To Jamaica

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News Americas, WASHINGTON, Fri. Nov. 7, 2025: Jamaica is set to receive a full $150 million payout under its World Bank backed catastrophe bond following the devastation caused by Hurricane Melissa – marking one of the largest single sovereign insurance redemptions in the Caribbean’s history.

The World Bank, (International Bank for Reconstruction and Development, IBRD AAA/Aaa) confirmed that the payout was automatically triggered after third-party analysis by AIR Worldwide Corporation determined that the hurricane met pre-agreed parametric thresholds based on the storm’s central pressure and path, as reported by the U.S. National Hurricane Center.

An aerial view shows destroyed buildings following the passage of Hurricane Melissa, in Black River, St. Elizabeth, Jamaica on October 29, 2025. (Photo by RICARDO MAKYN/AFP via Getty Images)

The trigger activated the full redemption of Jamaica’s 2024 catastrophe bond, which provides the country with pre-arranged financial protection against major natural disasters such as hurricanes and earthquakes.

Swift Financial Relief Through Innovative Risk Management

The $150 million disbursement underscores the strength of Jamaica’s disaster risk financing strategy, which has been recognized globally for its proactive approach. The country first partnered with the World Bank in 2021 to secure parametric insurance against storm events, later renewing and expanding coverage through a new 2024 catastrophe bond issuance.

“Jamaica’s comprehensive disaster risk management strategy and proactive approach serve as a model for countries facing similar threats,” said Jorge Familiar, World Bank Vice President and Treasurer. “This payout demonstrates how catastrophe bonds can efficiently transfer disaster risks to capital markets and ensure rapid liquidity when it’s needed most.”

Damage from Hurricane Melissa is seen at Sea Garden Beach resort, in Montego Bay, Jamaica on November 3,2025. Storm-ravaged communities in western Jamaica were facing dire straits November 2, 2025, days after record-setting Hurricane Melissa left towns demolished and at least 28 people dead across the island. (Photo by RICARDO MAKYN/AFP via Getty Images)

A Model For Financial Resilience

As one of the most disaster-exposed nations in the world, Jamaica has long championed innovative financial tools to strengthen its resilience. Catastrophe bonds allow governments to shift disaster-related risks from public budgets to global investors, ensuring that funds are available within days rather than months.

The World Bank Group said it is also preparing a broad support package for Jamaica, including emergency financing, reallocation of existing project funds, and targeted private-sector assistance through the International Finance Corporation, (IFC).

“Jamaica’s strong commitment to preparedness is now paying off – enabling the country to move swiftly from recovery to reconstruction,” said Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean. “This is not just about rebuilding what was lost, but about leapfrogging toward a more resilient future.”

Wider Caribbean Support Framework

An aerial view seen October 29, 2025 shows the destroyed Black River Market and surrounding buildings following the passage the previous day of Hurricane Melissa in Black River, St. Elizabeth, Jamaica. (Photo by RICARDO MAKYN/AFP via Getty Images)

The catastrophe bond payout adds to the recent record-breaking US$70.8 million disbursement made to Jamaica by the Caribbean Catastrophe Risk Insurance Facility (CCRIF-SPC), the largest in the facility’s history. Combined, the two mechanisms have now mobilized over US$220 million in disaster insurance support for Jamaica in less than a month.

The Government of Jamaica has estimated that Hurricane Melissa caused between US$6 billion and US$9 billion in total damages, devastating infrastructure, homes, and livelihoods while claiming 32 lives. More than 600 educational institutions sustained damage during the passage of category-five Hurricane Melissa.“In the affected parishes, we have a little bit over 450 schools that have been affected, and that’s across the board – infant schools, primary schools, secondary schools and also eight tertiary schools. So far, we’ve seen estimates of 616 institutions having some kind of damage,” said Minister of Education, Skills, Youth and Information, Senator Dana Morris Dixon.

Jamaica To Receive Record US$70.8 Million Payout From Caribbean Catastrophe Risk Insurance Facility

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By NAN Business Editor

News Americas, KINGSTON, Jamaica, Sat. Nov. 1, 2025: In the wake of Hurricane Melissa’s devastating impact, the Caribbean Catastrophe Risk Insurance Facility, (CCRIF-SPC) has announced a record-breaking US$70.8 million payout to the Government of Jamaica — the largest single payout in the organization’s history.

The Cayman Islands-based Caribbean and Central America Parametric Insurance Facility said the funds will be disbursed within 14 days, pending final model verification, in line with CCRIF’s commitment to speed and transparency.

An aerial view shows damaged buildings in the aftermath of Hurricane Melissa, in Westmoreland, Jamaica, on October 31, 2025. At least 19 people in Jamaica have died as a result of Hurricane Melissa which devastated the island nation when it roared ashore this week, a government minister told news outlets late October 31. (Photo by RICARDO MAKYN/AFP via Getty Images)

“This marks the largest single payout in CCRIF’s history and is a powerful demonstration of the organization’s parametric insurance model,” CCRIF said in a statement. This payout is Jamaica’s fourth from CCRIF, bringing the country’s total receipts to US$100.9 million since joining the facility in 2007. Previous payments included US$26.6 million following Hurricane Beryl in 2024 and earlier disbursements after Tropical Cyclones Zeta and Eta in 2020.

CCRIF Chief Executive Officer Isaac Anthony emphasized the organization’s role as a steadfast partner in the region’s resilience efforts. “This payout to Jamaica is not just a financial transaction – it’s a reaffirmation of CCRIF’s mission to stand with our members in their most difficult moments. We are proud to support the Government’s swift response and recovery efforts, and we remain committed to helping build a more resilient and secure future for all.”

Jamaica may also qualify for a second payout under its excess rainfall policy, pending final verification. CCRIF noted that rainfall assessments typically take longer due to the complexity of localized flooding and storm distribution. The government’s proactive approach to disaster financing has allowed for rapid access to liquidity, with CCRIF’s tropical cyclone policy triggering automatically based on modeled loss values just three days after Hurricane Melissa made landfall.

“Jamaica’s strategic foresight has enabled quick access to funds essential for emergency relief,” CCRIF said, adding that it continues to explore additional coverage options for utilities and fisheries to strengthen Jamaica’s disaster protection framework.

According to Information Minister Dr. Dana Morris Dixon, the official death toll from Hurricane Melissa has climbed to 19, with recovery operations still ongoing across the island.

World Bank Mobilizes Support
The World Bank also pledged broad support for Jamaica, stating that a comprehensive assistance package is ready to be deployed to aid recovery and reconstruction efforts.

“Our thoughts are with the people of Jamaica as they face the devastating impact of Hurricane Melissa,” the World Bank said in a statement. “We are working closely with the Government of Jamaica and international partners, including the Inter-American Development Bank, to carry out a rapid post-disaster damage assessment and help guide immediate relief and recovery efforts.” The Bank lauded Jamaica’s advanced disaster risk financing system, describing it as a model of preparedness and resilience for the Caribbean.

The upcoming assistance package will combine quick-disbursing emergency finance, potential payouts from a World Bank catastrophe bond, redeployment of existing project funds, and private sector support via the International Finance Corporation, (IFC).

“Our teams are prepared to provide technical advice and implementation support to help Jamaica recover and rebuild stronger, ensuring reconstruction contributes to long-term resilience and sustainable growth,” the statement concluded.

A New Luxury Beach Resort Is Coming To Puerto Plata

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By NAN Business Editor

News Americas, PUERTO PLATA, Dominican Republic, Fri. Oct. 24, 2025: Meliá Hotels International and Grupo Puntacana are expanding their footprint in the Dominican Republic with the launch of Meliá Bergantín Beach, a luxury resort that underscores renewed investor confidence in the country’s northern coast.

A new hotel is coming to the DR.

The development forms part of Punta Bergantín, a state-backed tourism and real estate trust designed to revive Puerto Plata as a major destination. The project – supported by Grupo Reservas and the Ministry of Tourism – covers more than 10 million square meters of coastal land and is being structured under a low-density, sustainability-first urban model, aligning with global ESG tourism trends.

At a groundbreaking ceremony on October 21st, Gabriel Escarrer, CEO of Meliá Hotels International, and Frank Elías Rainieri, CEO of Grupo Puntacana, were joined by Banco de Reservas President Leonardo Aguilera, Banco Popular President Christopher Paniagua, and Project Executive Director Andrés Marranzini Grullón.

The two conglomerates – among the Caribbean’s most influential tourism players – aim to leverage the Dominican Republic’s strong post-pandemic recovery and new infrastructure investments to diversify beyond the Punta Cana–Bávaro corridor.

A New Northern Anchor for Dominican Tourism

The Meliá Bergantín Beach will feature 400 rooms, integrating Meliá’s signature hospitality with new MICE (Meetings, Incentives, Conferences, and Exhibitions) infrastructure, multiple dining options, pools, a spa, and family-oriented amenities.

The resort is expected to serve as a flagship for Puerto Plata’s comeback – attracting international travelers, investors, and regional conferences, while generating hundreds of direct and indirect jobs.

“Puerto Plata has enormous potential to reassert itself as a global tourism destination,” Escarrer said in a statement. “With this project, we’re reaffirming our long-term commitment to the Dominican Republic and to sustainable development that benefits local communities.”

Rainieri added that the collaboration with Meliá “extends the vision of Punta Cana’s success story to the country’s north coast,” marking “the beginning of a balanced, nationwide tourism model.”

The Dominican Republic welcomed over 8.5 million visitors in 2024, a record high according to the Ministry of Tourism, and officials expect the Punta Bergantín development to further boost arrivals in 2026 and beyond.

2025’s Freest Caribbean Economies: The Region’s Bright Spots and Challenges

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By NAN Business Editor

News Americas, TORONTO, Canada, Fri. Oct. 11, 2025: The Caribbean’s 2025 Index of Economic Freedom paints a complex picture of progress and persistence – where fiscal health and innovation are rising, but corruption and weak institutions continue to hold some nations back from freer Caribbean economies.

The Washington-DC-based, Heritage Foundation’s Index of Economic Freedom, now in its 31st edition, evaluates 184 economies worldwide annually, using four key pillars: Rule of Law, Government Size, Regulatory Efficiency, and Open Markets. Each pillar includes 12 indicators — from property rights and judicial integrity to labor freedom and fiscal health – measured on a scale from 0 to 100.

The Freest and Most Repressed Caribbean Economies in 2025

No Caribbean economy ranks as “free” in the 2025 report. Instead, most fall within the “moderately free” category, while others remain “mostly unfree” or “repressed.” The data, drawn from the first half of 2023 through the second half of 2024, reveals that while fiscal discipline is improving in several countries, challenges such as public debt, corruption, and unemployment continue to shape the region’s economic landscape.

The Freest Caribbean Economies For 2025

1️⃣ Barbados (Score: 68.9 | Global Rank: 36)
Barbados tops the region for 2025, earning a “moderately free” status with strong scores in judicial effectiveness and tax policy. However, its growing public debt remains a looming concern for long-term stability.

2️⃣ Jamaica (Score: 68.7 | Global Rank: 38)
Jamaica continues to attract investment and ranks among the world’s top 40 economies for freedom. While it benefits from an open business environment, corruption and high government spending still hinder deeper reforms.

3️⃣ Saint Lucia (Score: 67.0 | Global Rank: 47)
Saint Lucia’s ease of doing business and moderate regulatory efficiency secure its place among the top three. Yet, high unemployment and fiscal pressures continue to slow its progress toward greater economic independence.

4️⃣ Dominican Republic (Score: 64.3 | Global Rank: 65)
With a diverse economy and consistent growth, the Dominican Republic’s strong tax management boosts its standing. However, government integrity and inefficient regulations remain key areas for improvement.

5️⃣ Belize (Score: 64.2 | Global Rank: 66)
Belize’s fiscal health and moderate inflation levels reflect steady economic management. Persistent issues like corruption and weak property rights, however, undermine investor confidence.

6️⃣ Trinidad and Tobago (Score: 63.6 | Global Rank: 69)
Rich in energy resources, Trinidad and Tobago enjoys solid fiscal health but struggles with corruption and limited property rights. Diversification remains essential for sustainable growth.

7️⃣ The Bahamas (Score: 63.2 | Global Rank: 72)
The Bahamas boasts strong property rights and no income tax, giving it a competitive edge. Still, high debt and trade barriers restrain its full potential.

8️⃣ Saint Vincent & the Grenadines (Score: 60.1 | Global Rank: 87)
Moderately free but weighed down by limited financing access and unemployment, St. Vincent and the Grenadines remains on the cusp of greater freedom if reforms deepen.

The Somewhat Repressed Caribbean Economies

Guyana (Score: 58.2 | Global Rank: 99)
Despite its booming oil sector, Guyana remains “mostly unfree.” Weak rule of law, corruption, and governance gaps continue to overshadow fiscal progress and rapid GDP growth.

Dominica (Score: 55.3 | Global Rank: 116)
Dominica maintains judicial stability but suffers from inefficient spending and rigid labor policies that restrict competitiveness.

Suriname (Score: 50.9 | Global Rank: 144)
Suriname remains “mostly unfree” with high inflation, corruption, and weak rule of law undermining public trust and investment.

The Repressed Caribbean Economies

Haiti (Score: 48.8 | Global Rank: 153)
At the bottom of the regional list, Haiti ranks among the world’s most repressed economies. Endemic corruption, insecurity, and weak institutions continue to paralyze progress and repel investment.

Cuba (Score: 25.4 | Global Rank: 175th)

Cuba remains classified as “repressed,” with pervasive state control over markets, severely restricted property rights, and limited financial freedom. Structural barriers to private enterprise and foreign investment keep its overall score among the lowest worldwide.

The Big Picture

Across the Caribbean, economic freedom ranges from moderately free to repressed, reflecting both the gains of reform and the drag of persistent challenges. Fiscal responsibility and openness to trade are improving, yet issues of governance, transparency, and institutional weakness remain the biggest barriers to unlocking regional prosperity.

As the Heritage Foundation’s Index reminds policymakers, sustainable growth depends not only on attracting investment but on building trustworthy institutions that support fairness, accountability, and opportunity for all.

(Ramotsamai Itumeleng Khunyeli contributed to this story.)

Is ExxonMobil Operating At A $6 Billion Or $3.4 Billion “Loss” In Guyana?

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Analysis By NAN Business Editor

News Americas, Georgetown, Guyana, Tues. Oct. 14, 2025: ExxonMobil’s Guyana President, Alistair Routledge on Monday claimed the company is “still operating in the red to the tune of around US$6 billion” in Guyana, as he retorted over to a question by three U.S. senators on the company’s tax breaks. So which number is closer to reality: $6 billion or $3.4 billion in losses?

The ExxonMobil Guyana offices at 86 Duke Street in Georgetown, Guyana. Photographer: Jose A. Alvarado Jr./Bloomberg via Getty Images

What Routledge Said

Speaking at Exxon’s Ogle, East Coast Demerara headquarters, Routledge told reporters that the NGO Oil and Gas Governance Network, (OGGN) may have misled U.S. senators about the company’s tax filings. He said that ExxonMobil Guyana is still operating with a negative cash flow of around six billion US dollars.

“We continue to be actually cash flow negative on an accumulative basis… we are probably still around six billion US dollars in negative cash flow as we look at the cumulative expenditures and cumulative revenues that we’ve seen from the Stabroek Block,” he told reporters.

Routledge asserted that in ExxonMobil Corporation’s 2023 and 2024 tax filings, there were no Guyanese tax credits included in either of those filings, “and you would recall that prior to 2023, we were not making profits here in Guyana, so there were no tax credits from that. Up until this point, there have been no Guyana tax credits used by ExxonMobil.”

The Alternative Figure: $3.4 Billion

But Exxon’s own Guyana website identifies a different figure: US$3.4 billion in red ink — even while acknowledging an accounting profit in 2024. According to Exxon’s 2024 financials:

Gross production rose sharply with the Prosperity FPSO, boosting revenue for all partners

Despite posting an accounting profit, the company said it remains “in the red” by US$3.4 billion

Exxon and its co-venturers have invested a cumulative US$55 billion in Guyana to date. This divergence begs the question: how can a company be both profitable on paper and yet claim to be billions in losses?

The Contractual Context

Under the 2016 Production Sharing Agreement (PSA), Exxon’s Guyana deal allows it to recover up to 75% of its share of oil revenue for cost recovery before profit payments begin. In practice, this means a large portion of early revenue goes to recovering the developer’s costs- capital, exploration, infrastructure – leaving little net profit early on.

Furthermore, financials for 2024 show:

Operating expenditures of GYD 477.6 billion

Depreciation/amortization at GYD 301.8 billion

Exploration, production, royalties also eat into margins

These mechanics help explain how Exxon could legitimately claim negative cash flow despite strong revenues.

Why It Matters for Guyana

The optics of a $6B loss vs $3.4B matters deeply for public trust, fiscal policy, and future licensing. Guyana has collected over US$6.2 billion in oil profits and royalties since 2020 – so when Exxon claims it’s in the red, critics say the narrative raises concerns about transparency and fairness. If Exxon can delay or reduce profit sharing through cost recovery claims, that changes the magnitude and timing of what Guyana as a partner actually realizes.

Bottom Line

Both $6 billion and $3.4 billion claims could contain grains of truth, depending on accounting methods, timing, amortization and recovery policies.

Routledge emphasized cash flow negativity and absence of Guyanese tax credits in filings.

Exxon’s public data insists on a lower loss figure despite profits.

The discrepancy boils down to methodology, timing, and cost recovery mechanics.

So, while the $6B figure commands headlines, the $3.4B estimate rooted in Exxon’s own reporting asks where did the almost three additional billion come from?. It’s really a question of how loss and profit are really defined.

Senator Bernie Sanders’ AI Warning: Shaping a Human Future For The Caribbean

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By Dr. Isaac Newton

News Americas, NEW YORK, NY, MON. Oct. 13, 2025: What does it mean to be human when machines can think, work, and create faster than we ever could? Senator Bernie Sanders has raised the alarm, warning that up to 100 million jobs in the United States could disappear in the next decade because of artificial intelligence and robotics. His warning is not just for the United States. It applies to the Caribbean as well, asking us a critical question: How can we use new technology without losing the value of human work, dignity, and the spirit that holds our communities together?

The Caribbean stands on the edge of profound change. AI and robotics can reimagine farming with smart systems, transform tourism with personalized experiences, and modernize manufacturing through automation. But progress without careful thought can harm as much as it helps. Picture a farmer watching machines harvest land once tilled by his family or a call center worker in Kingston replaced by an algorithm. Technology can create wealth, but it can also leave people behind if we are not deliberate about how we use it.

Senator Bernie Sanders, an Independent from Vermont, during a vote at the US Capitol in Washington, DC, US, on Friday, Oct. 3, 2025. Photographer: Graeme Sloan/Bloomberg via Getty Images

Policy must guide this transformation. Inspired by Sanders’ idea of a robot tax, Caribbean governments could require companies that replace human workers with machines to invest in retraining programs and digital skills education. A Caribbean Digital Skills Fund could train people in coding, cybersecurity, AI management, and robotics maintenance. A hotel clerk replaced by a kiosk could retrain as a data technician. A factory worker could become a robotics supervisor. These solutions are practical, not abstract. Policies like shorter workweeks with full pay could give workers more time for family, rest, and personal growth while maintaining productivity.

Education is key. Dr. Nadine Bryce, Associate Professor of Literacy Education at Hunter College, City University of New York, currently on a Fulbright in Jamaica, explains: “In schools, this translates to being critical consumers of AI. The Ministry of Education reported efforts to use AI to reshape teaching, assessment, and learning. AI tools helped students work at their own pace, and teachers could use the results to improve instruction. This raises important questions about how teachers can translate AI results into real classroom practice. Education is still a human activity. Teaching must remain meaningful, challenging, and tailored to the students in front of us. We cannot lose sight of the big picture.”

Her insight shows that the Caribbean must prepare not just skilled workers but wise citizens who can use technology responsibly. From preschool to university, education must blend digital literacy, creative problem-solving, ethical reasoning, and cultural knowledge. Coding classes and AI labs should exist alongside philosophy, art, and social responsibility. Learning should inspire judgment and creativity, not just teach machines to replace humans.

Fairness must guide the distribution of wealth. Profits generated by AI cannot go only to executives or global companies. Profit-sharing, employee ownership, and cooperatives ensure technology benefits everyone. Sanders in businessinsider.com emphasizes that workers must gain from the tools they help operate. Caribbean governments could require companies to invest a portion of AI profits in pensions, reskilling, and community projects. Imagine a factory in Trinidad funding small businesses or a tech company in St. Lucia building housing for displaced workers. This is not charity; it is fairness in action.

The Caribbean is at a threshold where technology and humanity meet. We cannot simply adapt; we must shape a future where machines enhance life rather than drain it. The urgency is real, and the choice is ours. Either we allow automation to hollow our societies, or we build a region where technology strengthens communities, protects human dignity, and helps people flourish. This choice will define our economies, our communities, and the kind of people we become.

EDITOR’S NOTE: Dr. Isaac Newton is a strategist and scholar trained at Harvard, Princeton, and Columbia. He advises governments and international institutions on governance, public transformation, and global justice. His work blends visionary thinking with practical insight, helping Global South nations address historical injustice, advance human dignity, and engage global issues of peace, sovereignty, and shared prosperity. Dr. Newton envisions societies where innovation and responsibility evolve together to promote human flourishing.