The Cayman Islands is the most financially secretive territory in the Caribbean and Montserrat is the least, according to the latest issue of Market Dynamics Caribbean containing the latest report from the Tax Justice Network which publishes under the slogan, “illuminating shady practice”.
The fortnightly digest of Caribbean business and finance developments also ponders the ripple effect of the S&P downgrading of the French government debt.
Melissa Marchand, publisher of Global News Matters which produces the comprehensive Market Dynamics Caribbean newsletter, said the publication follows the effects, “not only on the francophone territories in the region but also how the downgrade would affect economic activity in the English-speaking islands of the Caribbean.”
The region’s major oil and gas producer Trinidad and Tobago is feeling the pressure of increasing sales of cheaper shale gas in the U.S.
“When production and sales were booming, there was little to worry about, but Petrotrin, the oil and gas company, fears the cheap U.S. gas will deflate its own refinery output. It has also seen declining profits but Petrotin still pumps TT$2 billion a year into the economy,” she said.
Of the other major developments covered in the current issue is the tension generated in Guyana when an important piece of legislation was not adopted.
“The Anti-Money Laundering Bill was voted down in Parliament and it will be interesting to see what the international community will do, and how the Caribbean Financial Action Task Force will respond,” asserted Marchand.
Published every two weeks, Market Dynamics Caribbean covers more than 30 economies in the Caribbean region, including the Dutch, French, Spanish and English Caribbean.
The newsletter provides up-to-date information on politics, the electoral landscape, regulatory outlook, legislation, public investment, and economic and industrial developments.
Working with more than 350 regional sources per week, Market Dynamics Caribbean saves thousands of hours of research and analysis per year.