Barbados
In Barbados, authorities have introduced BiMPay, a new instant payment system that allows individuals and businesses to send and receive money within seconds. The system, launched by the Central Bank of Barbados, operates 24/7, including weekends and public holidays.
Prime Minister Mia Amor Mottley made the first transaction, sending money to a local vendor. Officials say the system is expected to modernize Barbados’ financial sector by replacing slower interbank payment processes that previously took hours or days.
“A modern economy needs a modern payment system,” said Central Bank Governor Kevin Greenidge.
“People need to be able to send money quickly. Businesses need to be able to receive funds and have them available to spend. Vendors want to get their funds and access their money immediately…. We need a space to innovate to compete and to build the fintech industry that needs to be built.”
The launch follows months of testing with financial institutions and stakeholders. Six commercial banks and Barbados’ three largest credit unions are now connected to the BiMPay system.
Seven institutions are also linked to the BiMPay e-wallet, allowing users to make payments, request money and complete transactions using phone numbers, email addresses or QR codes.
Officials say BiMPay will make payments faster, more efficient and more convenient, while helping to modernize Barbados’ financial system.
Caribbean
The Caribbean Development Bank, based in Barbados, has signed a US$25 million guarantee facility with IDB Invest to expand access to trade finance in smaller Caribbean markets.
The agreement allows the Caribbean Development Bank to provide partial guarantees under IDB Invest’s Trade Finance Facilitation Programme, a long-running initiative that has supported trade financing across Latin America and the Caribbean for two decades.
According to the Caribbean Development Bank, the arrangement allows institutions to share risk and use capital more efficiently, with the goal of increasing trade activity and supporting private-sector growth through pooled resources.
The bank said access to reliable trade finance remains a major constraint for many businesses across Latin America and the Caribbean, despite its importance to economic growth.
Trade finance supports roughly 80% of global trade, yet a worldwide funding gap of about US$2.5 trillion continues to affect developing and emerging economies the most.
Haiti
In Haiti, James Boyard, cabinet director of the Defence Ministry and inspector general of the national police, was abducted by armed men, authorities said.
Boyard’s kidnapping marks the highest-profile abduction of a senior government official in recent years, underscoring an ongoing security crisis driven by powerful criminal gangs.
Local reports said Boyard was taken in Bourdon, a neighborhood in Port-au-Prince that is still considered relatively secure. About 70% of the capital is believed to be under the influence of the Viv Ansanm gang alliance, which the United States designated as a foreign terrorist organization last year.
Boyard, a political scientist, has played a key role in efforts to rebuild Haiti’s military and reform the national police force. Authorities have not identified the abductors, and it remains unclear whether a ransom has been demanded.
“A person of this rank clearly has a fairly important security detail,” said Diego Da Rin of the International Crisis Group.
Da Rin said the abduction appeared carefully planned and may have involved someone familiar with Boyard’s security arrangements. He added that kidnappings are increasingly common in parts of Port-au-Prince, with some attackers reportedly disguising themselves as police officers to intercept victims.
He also said criminal groups are increasingly targeting dual nationals and government officials, possibly seeking larger ransom payments and aiming to deter security operations in gang-controlled areas where hostages are believed to be held.
High-profile kidnappings in recent years have included journalists and foreign missionaries. A UN report said at least 267 people were kidnapped between December 2025 and February 2026.
Saint Lucia
The government of Saint Lucia has extended its tax amnesty programme until the end of December next year, giving taxpayers more time to clear outstanding debts while receiving full waivers of interest and penalties on qualifying taxes.
Prime Minister Philip J. Pierre described the initiative as one of the most generous tax relief measures ever introduced by a government.
“What is important to note is that all interest and penalties due on taxes up to December 2025 will be waived,” Pierre said.
Originally set to end in May 2026, the amnesty offers full waivers of penalties and interest on overdue tax debts from earlier periods.
Officials said the measure covers a wide range of taxes, including value-added tax (VAT), income tax, property tax and other statutory payments.
Pierre also confirmed the extension applies across all tax categories, including VAT collected by businesses on behalf of the state but not yet remitted.
“VAT collected by businesses ought to be paid immediately to the government. We understand sometimes there are going to be issues, so we will be waiving these interests and penalties.”
St Kitts and Nevis
The government of Saint Kitts and Nevis announced that its current customs relief measures, including waivers on bunker and shipper surcharges used in calculating import duties, will remain in place until the end of July.
Officials said the policy is intended to ease cost-of-living pressures by shielding consumers from rising global fuel and freight prices that have driven up the cost of imported goods.
“By excluding bunker surcharges associated with sea and air freight from the Customs Value (CIF) used to calculate customs duties and taxes, the government has taken deliberate action to prevent consumers from bearing additional costs generated outside the Federation’s control,” the government said.
The statement said rising shipping and transport costs, driven largely by global fuel prices and supply chain pressures, have increased costs worldwide.
“These developments have contributed to higher costs worldwide and have intensified cost-of-living concerns in many countries, including St Kitts and Nevis,” the statement said, adding that removing these surcharges lowers import taxes and may reduce consumer prices.
“The measure forms part of a broader strategy aimed at reducing cost-of-living pressures, cushioning households and businesses from international economic shocks, and helping to stabilise prices within the local economy.”
The government said the customs surcharge waiver is part of a broader set of temporary relief measures, including a 50% cut in excise tax on gasoline, a reduction in the Customs Service Charge on fuel from 6% to 3%, and the removal of VAT on eligible alternative energy equipment.
“Together, these measures demonstrate the government’s commitment to tackling the cost of living through practical and targeted interventions that provide meaningful relief to families and businesses while strengthening national economic resilience,” the government said.
