By NAN Business Editor

News Americas, NEW YORK, NY, Mon. Dec. 15, 2025: China has signaled a renewed and expanded commitment to the Caribbean with new China – Caribbean Policy, positioning small island states as strategic partners in its evolving Global South diplomacy, according to its newly released Policy Paper on Latin America and the Caribbean.

Chinese President Xi Jinping (L-2) speaks during a meeting with Dominica’s President Sylvanie Burton (R-2) at the Great Hall of the People on October 14, 2025 in Beijing, China. (Photo by Ichiro Banno – Pool/Getty Images)

While much global attention has focused on China’s ties with major Latin American economies, the policy document makes clear that Caribbean nations are central beneficiaries of Beijing’s long-term development, climate, and infrastructure agenda – particularly in areas where island states face acute vulnerability and capital constraints.

A Strategic Shift Toward Small Island States

China explicitly acknowledges the Caribbean’s unique status as Small Island Developing States, (SIDS), committing to tailor cooperation frameworks that reflect climate exposure, limited fiscal space, and reliance on external trade and tourism.

Rather than a one-size-fits-all approach, the policy outlines support mechanisms designed to accommodate smaller economies, including concessional financing, development assistance without political conditionality, and targeted infrastructure investment.

This positioning signals an effort by China to distinguish its engagement from traditional Western development models, which Caribbean leaders have often criticized as restrictive or slow-moving.

Climate Resilience and Disaster Response Take Center Stage

One of the most consequential pledges for the Caribbean lies in climate adaptation and disaster resilience.

China commits to expanded cooperation in:

Disaster prevention, early warning systems, and post-disaster reconstruction

Climate-resilient infrastructure

Coastal and marine ecosystem protection

Renewable energy development, including solar, wind, and hydropower

For hurricane-prone Caribbean states facing mounting reconstruction costs and insurance gaps, these pledges could translate into tangible relief if executed at scale.

China also signals openness to supporting Caribbean climate initiatives within global frameworks, reinforcing SIDS advocacy on climate finance and loss-and-damage mechanisms.

Infrastructure, Ports and Digital Connectivity

China’s policy reinforces its interest in Caribbean infrastructure — not only roads and utilities, but also ports, logistics, digital networks, and smart city development.

The document highlights cooperation in:

Transportation and port logistics

Telecommunications and digital infrastructure

Energy grids and water systems

Housing and urban development

For Caribbean economies seeking to modernize ports, reduce shipping costs, and improve regional connectivity, Chinese-backed infrastructure could play a transformative role – particularly where traditional financing remains limited.

Trade, Investment and Market Access

On the economic front, China pledges to expand trade with Caribbean nations, especially in:

Agricultural products

Specialty goods

Energy and resource-related exports

Beijing also encourages Caribbean participation in major Chinese trade expos and investment forums, offering potential market access for Caribbean exporters seeking diversification beyond North America and Europe.

Additionally, China expresses interest in expanding financial cooperation, including local currency settlements and partnerships with regional financial institutions – a move that could reduce foreign exchange pressures for Caribbean economies.

Education, Training and People-to-People Exchanges

China’s commitments extend beyond economics into human capital development.

The policy outlines:

Scholarships and training programs for Caribbean students and professionals

Cooperation in vocational education and digital skills

Media, cultural, and academic exchanges

Support for tourism cooperation and two-way travel facilitation

For Caribbean states grappling with skills shortages and youth unemployment, these programs may offer long-term workforce benefits.

Geo-political Implications for the Caribbean

China’s expanded engagement comes as Caribbean nations navigate a shifting global order, balancing longstanding ties with the United States and Europe while exploring South-South partnerships.

By emphasizing sovereignty, non-interference, and unconditional development assistance, China positions itself as an alternative partner at a time when Caribbean governments are seeking greater diplomatic and economic autonomy.

However, the scale and impact of these pledges will depend on implementation — a point regional analysts note will be critical in distinguishing policy ambition from practical outcomes.

What Comes Next

The policy paper signals intent, not timelines. For Caribbean governments, the next phase will involve translating these pledges into:

Project-level agreements

Financing structures

Transparent procurement frameworks

Sustainable debt management

If executed effectively, China’s commitments could reshape Caribbean development pathways over the next decade, particularly in climate resilience, infrastructure modernization, and economic diversification.

For now, the message from Beijing is clear: the Caribbean is no longer peripheral in China’s Global South strategy — it is firmly on the map.

An Analysis By NAN BUSINESS EDITOR

News Americas, NEW YORK, NY, Fri. Nov. 21, 2025: Jamaica now has a clearer picture of the devastation left behind by Hurricane Melissa. According to a new joint assessment by the World Bank and the Inter-American Development Bank, (IDB), the storm caused US$8.8 billion in physical damage – equal to 41% of Jamaica’s 2024 GDP and the costliest hurricane in Jamaica’s recorded history.

An aerial view shows damaged buildings in the aftermath of Hurricane Melissa in Lewis Town, St Elizabeth, Jamaica, on October 31, 2025. (Photo by RICARDO MAKYN/AFP via Getty Images)

This preliminary estimate comes from the Global Rapid Damage Estimation (GRADE) methodology, which analyzes sector-by-sector destruction. The figures do not include broader economic losses, which are expected to be substantial. That means Jamaica’s total recovery need may still approach — or exceed — the US$10 billion figure cited by Jamaican Finance Minister Dr. Nigel Clarke.

The breakdown of physical damage shows the scale of the crisis:

41% — Residential buildings

33% — Infrastructure (roads, bridges, ports, utilities)

21% — Non-residential buildings (businesses, schools, hospitals)

5% — Agriculture (though losses to farms and livestock are likely to surge over the long term)

“This disaster demands a fast, coordinated, and evidence-based response,” said IDB Vice President Anabel González. The World Bank echoed that sentiment, reaffirming its readiness to “mobilize its full range of support.”

But even with multilateral assistance, Jamaica faces a difficult truth: the country cannot rebuild its economy on the same fragile foundation that climate change is repeatedly destroying.

Climate Reality: Jamaica Cannot Depend on Tourism Alone

State Minister Alando Terrelonge, during field assessments in St. James and St. Elizabeth, stated bluntly that Hurricane Melissa “reflects the growing climate vulnerability of Small Island Developing States, (SIDS),” warning that climate-related disasters pose a “direct threat to life, property, and economic and national security.”

Tourism — Jamaica’s largest foreign exchange earner — is also its most exposed industry:

Hotels are built on vulnerable coastlines

Insurance premiums have soared beyond affordability

Storms wipe out years of investment in hours

Airline disruptions reduce arrivals

Tourism jobs vanish instantly after disasters

U.S. economic uncertainty affects visitor spending

Cruise lines dominate arrivals but deliver minimal local revenue

Jamaica, like the wider Caribbean, cannot keep rebuilding the same tourism-centric model that collapses every hurricane season.

Melissa proves: Economic diversification is no longer optional — it is a survival strategy.

So How Can Jamaica Potentially Mobilize the Funds It Needs?

Given the updated GRADE findings, Jamaica will need a layered, multi-year financing strategy. Below are realistic, responsible pathways — not guarantees — based on global best practices for SIDS and the instruments the World Bank, IDB, CDB, and partners already use.

1. Additional Multilateral Financing (Possible US$2–3B Over 3–5 Years)

The World Bank and IDB have already activated some disaster-response instruments, but the agencies publicly confirmed:

“We are ready to mobilize our full range of support.”

This could include:

expanded IDB resilience loans

new World Bank climate-resilient infrastructure windows

targeted CDB emergency programs

Green Climate Fund adaptation financing

Japan-funded disaster-risk programs (already tied to GRADE)

These would require new negotiation rounds and multi-year programming.

2. Diaspora Bonds & Investment Notes (US$500M–1B Potential)

Jamaica’s diaspora is powerful, high-earning, and deeply connected. A “Rebuild Jamaica 2030 Diaspora Bond” series is one of the most viable tools available. Even modest uptake could raise hundreds of millions.

3. Catastrophe & Resilience Bonds (US$250M–500M)

Beyond CCRIF, Jamaica could structure its own cat or resilience bonds — instruments increasingly used by climate-vulnerable countries to pre-finance future risk.

4. Public–Private Partnerships (US$500M–1B)

PPPs can accelerate funding for:

hospitals

roads and bridges

renewable energy

water and wastewater infrastructure

coastal protection

telecom upgrades

This eases fiscal pressure while modernizing infrastructure.

5. Sector-Specific Donor Windows (US$500M–1B)

Especially strong opportunities exist in:

Resilient housing reconstruction

Climate-smart agriculture and agri-tech

Tourism resilience retrofitting

Digital and creative services

Renewable energy and microgrid expansion

These areas align perfectly with donor priorities for SIDS.

Total Possible Funding Pathway: US$4–7 Billion

Not guaranteed — but achievable with coordination, diplomacy, and clear investment frameworks. The remaining gap could be covered through domestic reprioritization, private capital, and phased rebuilding.

Rebuilding Better: What Jamaica Must Do Now

Here is where we fold in the “look beyond tourism” message grounded in the official climate vulnerability framing:

1. Climate-Resilient Housing & Infrastructure

Elevated homes, stronger building codes, underground utilities, seawalls, river training, mangrove restoration.

2. Climate-Smart Agriculture & Agri-Tech

Greenhouses, aquaculture, drought-resistant crops, digital farming — reducing Jamaica’s food-import vulnerability.

3. Digital & Modern Services (Low Climate Exposure)

Animation, fintech, creative industries, remote services — sectors that continue operating even after storms.

4. Renewable Energy Independence

Solar microgrids, wind, storage, resilient energy hubs — reducing reliance on imported fuel.

5. Nearshoring & Light Manufacturing

ECLAC’s new data shows Jamaica now faces lower U.S. tariffs than Asia — a strategic opening for exports.

The Road Ahead

Hurricane Melissa marks a turning point. Jamaica must rebuild — but not back to what it was. The Government’s early damage assessments and calls from Minister Terrelonge make the message clear: Jamaica must rebuild safer, stronger, and more climate-resilient — and it must diversify beyond tourism to survive the next generation of storms.

RELATED: Jamaican Global Diaspora Pitches In: Here Are The Credible Organizations To Support Hurricane Melissa Victims

BY NAN BUSINESS EDITOR

News Americas, GEORGETOWN, Guyana, Weds. Nov. 12, 2025: Guyana’s oil juggernaut, ExxonMobil, has hit another major milestone – 900,000 barrels of oil per day – solidifying the South American nation’s position as one of the fastest-growing petroleum producers in the world.

The announcement from ExxonMobil Guyana and its Stabroek block partners – Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Ltd. – marks a symbolic moment just six years after Guyana’s first commercial oil production began.

Yellowtail Boosts Output

The surge comes on the heels of the Yellowtail project’s successful ramp-up to its designed capacity of 250,000 barrels per day, joining the already robust operations at Liza Phase 1, Liza Phase 2, and Payara.

Together, the four projects have propelled Guyana to output levels that rival OPEC producers such as Ecuador and surpass every other Caribbean nation combined.

“Guyana’s story is one of continuous achievements,” said ExxonMobil Guyana President Alistair Routledge. “Through close collaboration with the Government of Guyana, our co-venturers, suppliers, contractors, and employees, we are building a world-class energy sector that delivers significant value for the people of Guyana.”

A $60 Billion Energy Bet

The Stabroek block consortium has now committed more than US$60 billion in development investments — a staggering sum that underscores long-term confidence in Guyana’s offshore reserves.

Six additional government-approved projects are in the pipeline, including Uaru and Whiptail, both expected to deliver 250,000 barrels per day each by 2026 and 2027. The Hammerhead project will follow in 2029 with another 150,000 barrels per day, while Longtail – now under regulatory review – could push Guyana’s total capacity to 1.7 million barrels per day across eight developments.

Guyana’s Global Moment

This exponential growth is transforming Guyana’s economy and geopolitical relevance. Once one of the poorest countries in the hemisphere, it now boasts one of the world’s highest GDP growth rates and has become a central player in global energy markets.

But as production scales, so do expectations – from managing environmental risks and fiscal transparency to ensuring oil wealth benefits the broader population.

Still, ExxonMobil’s rapid progress signals an undeniable reality: Guyana’s oil era is no longer an emerging story – it’s a global force in motion.

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.

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.