What does this list of countries represent?
Afghanistan
The Bahamas
Barbados
Botswana
Cambodia
Democratic People's Republic of Korea
Ghana
Iran
Iraq
Jamaica
Mauritius
Mongolia
Myanmar
Nicaragua
Pakistan
Panama
Syria
Trinidad and Tobago
Uganda
Vanuatu
Yemen
Zimbabwe
Pfizer rollout for 12-18 began yesterday. All d Bajan kids stay quiet & took it with minimal complaints. Mine?? These Trini bacchanalists? One start to hyperventilate when she see d needle ‘I need a minute!!’ & d next one end up on d floor bawling he gonna faint 😭 why me Lord??!
Corruption and money laundering exists in every country on earth but the global North has employed its powerful propaganda machinery to brand those problems as unique to the global South. See Blacklisting.
She did an excellent job pushing back and correcting the narrative.
My mom has Alzheimer’s but she’s hella hilarious
1. Allyuh feel I chupid? Dis is water. (It was coffee 😫)
2. What kinda shit movie is dis??? (we took her to see transformers 🫠)
2. Why I must go to the zoo? I have allyuh to watch whole day.
Please stop with your “tax the rich” propaganda
@Oxfam
when you know very well that the
@OECD
countries are responsible for 2/3 of global tax losses, EU accounts for 36% of tax havens, but are never held accountable.
We get blacklisted & this RAISES POVERTY & INEQUALITY!
Sir Hilary Beckles once pointed out to me that countries which produce(d) sugar & where slavery existed, developed the poorest eating habits over generations based on unhealthy choices available - salted fish, pickled meats, sugary drinks & treats, and almost unlimited alcohol
St Lucia, Barbados, T&T, Jamaica ranked among 20 most ‘unhealthy countries’ in world. The ranking is based on life expectancy; blood pressure; diabetes risk; obesity; depression; happiness; alcohol use; tobacco use; inactivity; govt spending on healthcare.
Working on a paper to show that tourism is a net drain on FX as we saw during the pandemic. It mostly creates low wage jobs which we shouldn’t consider a priority IMHO, & waste/pollution that we’re increasingly unable to handle. We don’t need big properties for successful tourism
I *feel* like the whole idea of tourism “helping” the economy of a country is actually a big ass scam but I need one the economist babes to talk about it
But look more closely and you will see something else:
Every single country on this list was at some point in its history, colonized or otherwise exploited by Europeans.
And every single one of these countries is predominantly NON-WHITE.
I hope all Jamaicans realize that this is NOT the norm - there are maybe 2 countries in the Caribbean who can boast this kind of economic performance alongside declining debt, lowest poverty & unemployment ever, stable inflation, larger private sector & > ease of doing business
The Jamaican economy grew for 18 consecutive quarters, 14 of which were under this government; that was the longest consecutive stretch of quarterly economic growth since we started measuring quarterly growth in 1997.
I not trying to make anyone feel bad or inadequate or anything but my brother just made me a WHOLE jar of seasoning for Valentine’s and there really ain’t anything that could top this 😭❤️🙏
There are few things I enjoy quite as much as watching indoctrinated Western virtue signallers get epically destroyed by people from developing countries who are willing to be honest.
And despite the fact that the
#FinCENLeaks
showed that London is the most prolific money laundering destination in the world, the UK does not appear on this list. How is that possible?
Memo to non-west Indians : when you come to the Caribbean, note that we will say mawnin mawnin to you and expect at least a smile if not a mawnin mawnin back. And this time of year we also say all d best and expect the same in return. Please and thank you 🙏
#MannersMakethMan
Cuba’s economy is in its worst state since the collapse of the Soviet Union. The biggest problem is the enduring reluctance of its rulers to allow the private sector to thrive 👇
The EU and its allies never appear on their “Blacklist” or list of “high risk third countries” despite mounting evidence that the (non-white former European colonies)most named & shamed are NOT the ones responsible for the majority of money laundered
This is the right answer to the wrong questions. T&T was/is NOT in a recession. T&T is in a STAGNATION which is worse than a recession. T&T has averaged ZERO growth for 10 years. One quarter or one year of growth does NOT signal a reversal of a trend that has lasted 10 years.
The EU has excluded certain countries because it’s criteria for inclusion go well beyond standard legal definitions of money laundering & terrorist financing. In other words, the EU makes up its own rules, & applies them selectively to certain countries:
I would add with all due respect
@MPKamla
that what’s more harmful & shocking than the current Hon PM’s misrepresentation of the fiscal numbers, is the fact that you & your Gov’t presided over the highest level of fiscal revenue T&T EVER earned, yet you never balanced the budget
This institutionalized discrimination, bullying and economic warfare by the EU has to stop. But there is no know recourse, no mechanism for us to seek redress. The EU is the accuser, the expert witness, the judge, jury AND executioner. The system is rigged to ensure our failure.
These rules & criteria in the first place WILL NEVER apply to EU countries, despite studies which have found that, for example, €13 billion is laundered through the Netherlands each year
Unusual for me, but I got dressed up last night, even allowing my daughter to put on some makeup (she owns more than I ever have) for me. Pleased with herself, she declared “ok NOWWW you look smexy, mummy”
And for those of you, like me, who didn’t know:
Smart + sexy = smexy 😃
The sad reality is some Govts in this region, I am told, have the data to calculate the total net fiscal and FX contribution of the hospitality sector. But not one of them publishes it. Why?
Without data we don’t know if tourism is a net gain or a net transfer of wealth outward.
So the EU makes up its own rules on what constitutes a crime as it relates to money laundering & terrorism financing, and it then WEAPONIZES these rules by applying them selectively to countries other than its own members & their powerful allies :
How is it that in 2020, the EU is allowed to appoint itself an authority on AML/CFT compliance, create its own rules which they change constantly as convenient, apply these rules only to small, non-white, former European colonies, and unilaterally punish us, and get away with it?
A whole town in Jamaica has free WiFi??!! Is this a first in the Caribbean?
P.S. I am SO gonna steal ‘mi gladbag buss!’ I was today years old when I saw for the first time, such perfectly beautiful and complete expression of joy, and of course it HAD to be from Jamaica ❤️
It was such a joy to do this podcast with you, David.
Here is the article I was discussing … which I co-authored with Damian Edghill.
It seems nobody in Europe had any idea that the EU could have behaved in such an unconscionable manner.
A current account surplus demonstrates that your country is internationally competitive.
Inbound remittances must have contributed to this surplus.
Well done Jamaica 🇯🇲
This is an impressive recovery in the past decade (and with a pandemic thrown in!)
Meaning that even though money laundering does in fact take place in these & every country on earth, the quantum of money laundered could not be anywhere near what is laundered through the EU itself or through it’s powerful allies. Our balance of payments accounts would show this
So any ‘compliance’ that we are able to secure, is at best temporary. We are therefore perpetually on the EU’s list of ‘high risk’ countries, which makes it much more difficult for us to trade, to conduct business, and to compete internationally. Perhaps this is the intention?
Have you ever wondered why it’s hardest to get foreign currency in T&T, despite being one of the few countries in the Caribbean (usually) with a current account surplus, and which abandoned FX controls years ago? Makes no sense, right? Well, here I explain
Frightening criticism from the Opposition Leader suggesting that she would have ‘given away’ more than this administration did 😳
She presided over the highest level of fiscal revenue T&T ever saw, yet failed to balance the budget.
God help us. God truly help us.
Good quotes from Opposition leader
The economy is dead. They've read the last rites.
The brightest thing in this budget is the bulbs.
Hansel and Gretel Budget, they giving crumbs
It was great to talk with participants of the ECB scholarship for women yesterday. We had a lively discussion about topics related to central banking.
I encourage all young female economists pursuing a Master’s degree to take a look at the scholarship.
For the 1st time, to my knowledge, the Min of Fin of T&T delivered the budget for the next fiscal year, without mentioning the actual numbers for the last fiscal year.
No actual revenue, expenditure, or deficit.
ZERO accountability for $ collected, borrowed, & spent last year.
Here’s my last monthly report for 2023.
What. A. Year!
Jamaica is on faya! 🔥with its highest credit rating & lowest unemployment ever.
Suriname is stabilizing. Barbados has a new Corp tax structure & is recovering. Dom Rep is growing strongly.
Appeal to
@Oxfam
:
Please remove all tropical images from your reports re tax havens. You identified that we are not the problem.
Please reframe “tax the rich” to “put in progressive taxes”
The problem is not the rich. The real problem is the countries who don’t tax them.
How does it now feel to know that you come from a country which has been producing oil for >100 years, and nobody, no Govt in your history, has ever made economic diversification a priority, to the extent that over 80% of your FX earnings in 2018 came from energy exports?
#OOTT
The European Union has unilaterally blacklisted small & less developed non-white (former) colonies, many in the Caribbean. But they don’t Blacklist their own money launderers like the Netherlands.
This discriminatory & disproportionate action HAS TO STOP
Had some fun (and anxiety!) doing my latest video discussing the EU’s Blacklists, and the devastating effects they are having on the world’s single most vulnerable nation to natural disasters - Vanuatu. Stay tuned!
I’ll be speaking at RF Holdings in Bahamas on March 14 & Cayman on the 16 - on the Caribbean economy & those countries, & also on a panel on global tax developments.
Also, I’ll be giving the keynote address at
@Princeton
on April 20th. So honoured and excited! 🤩
Furthermore, the countries which fall victim to the EU’s conveniently designed methodology, are relatively small & disadvantaged. We represent less than 3% of global GDP, while the EU is the world’s largest trade bloc, the world’s largest exporter of manufactured goods & services
No where in this report does it say “T&T is an exercise in 4 years of no management”.
Misquoting a credible and respected analyst in a lazy and sloppy attempt to score political points is sure to achieve just the opposite.
Do better.
We have to learn to live with this virus, and get on with life. The higher a country’s vaccination rate, the lower the adverse socio-economic implications of waves/spikes, which are likely to continue.
It is as simple as that.
Has the world paid attention to how the Cayman Islands has been handling its Covid-19 response? Mandatory testing & minimum 14 day quarantine/isolation period for all incoming travelers. Arrests for breaches. >60k tested. Vaccines on the way.
Has any country done a better job?
Is an average revenue per tourist of USD2,000 worth it?
Worth the high number of infected locals? The amount the Govt has to spend testing, quarantining, policing positive cases, curfew, etc? And now refunds too?
This is not adding up, in my estimation.
Congratulations Jamaica, on electing so many young people & women!
Now more than ever I feel Jamaica could become a cross between Dom Rep & Cayman -Big, strong, stable, fiscally responsible, dynamic, progressive, sustainable. Fix crime & inequality as a matter of priority please
3 million deaths. Tragic.
Also tragic : every year, about 3.1 million children die of malnutrition.
Every year.
But malnutrition only affects ‘those people’ / the poor / the voiceless.
And malnutrition is not contagious.
And not much money can be made solving malnutrition.
Since when is a VAT refund classified as ‘assistance’ given by the state to businesses?! It is an OBLIGATION! It is what is OWED to taxpayers! And the fact that it is paid in ‘cash’ is by no means a favour.
A state that cannot meet its current obligations in cash is bankrupt.
I am so excited and honoured to be delivering the keynote address :
Law, Identity, and Economic Development in the Post-Colonial Era: The Case of the Northern Atlantic and Larger Caribbean Regions | Princeton School of Public and International Affairs
What’s the latest poverty statistic in your country? How old is it? What’s your country doing to address poverty?
The only policymaker in this region that I see discussing the poverty level & citing recent (record low) statistics is the Hon
@NigelClarkeJa
Well done Jamaica 🇯🇲
I live in Barbados where corporations are taxed at a maximum of 5.5% but individuals are taxed close to 29% maximum and we pay a VAT of 17.5% on most items and 22% on mobile services. I don’t have the data but I feel like this must be a very regressive tax structure
I’m not a cricketer but I’m a citizen of T&T. Will I be allowed to travel to T&T and quarantine in the Hilton hotel? I would really like to come home to vote. Thanks 🙏
Here is my Caribbean Economic Report for June 2020. I have included an editorial on the EU Blacklist - hope you find it useful! Would love to hear your thoughts thank you 🙏❤️
When the country is losing almost USD1 billion per annum in ‘errors and omissions’ which means outflows of USD that we can’t account for, I think highlighting this TTD78 million is another attempt at distraction.
Let’s focus on the real issues. Food imports isn’t the real issue.
TRADE and Industry Minister Paula Gopee-Scoon has said Trinidad and Tobago spent approximately $78 million a year over the last three years on the importation of luxury food items.
Even though the EU is not the global authority on these matters, we are bullied by the EU into complying with their unique standards on money laundering & terrorism financing. But then they keep changing the rules! There were 2016, 2017, 2018, and now 2020 revisions for example
The Govt of TT was really unaware of the sanctions placed on several Venezuelan Govt officials by the USA...???!!! If that’s the honest truth, our problems are much more severe and worrying than I ever imagined.
Dear
@NigelClarkeJa
& Governor
@CentralBankJA
, I would be honoured if you would kindly agree to a webinar with me to discuss the fiscal council & the independence of the Central Bank, please. I feel these are important institutional reforms that the Caribbean should know about.
PLEASE
@FT
, remove “the Caribbean” from this headline - no Caribbean country is mentioned in your article, we have Covid largely under control in most countries, and this unjust and misleading headline is potentially very damaging for the Caribbean.
Please help
@katie_martin_fx
In much the same way that 9/11 changed things forever (air travel & AML/CFT) I believe
#COVID19
will also change certain things forever, such as hand washing, avoiding unnecessary travel & / or meetings, less handshaking, flexible work arrangements, building financial buffers etc
“Even if you are exercising regularly & eating healthfully, bottling up your feelings may increase your stroke risk...Women who silence their negative thoughts had greater buildup of plaque in their carotid arteries”
So the next time anyone tells me to stop yelling & cussing...
What exactly is the point of having a public procurement framework if Govt - Govt deals and Govt - Private sector deals are exempt?
How exactly does this framework support transparency and accountability around the Govt’s spending of taxpayers / citizens’ money?
Chatting with
@davidmcw
is always one of my life’s greatest joys. Thanks David!
Discussing the EU’s neo-colonialism via Blacklisting of only non-white developing states - Vanuatu in particular - is maddening & heartbreaking though.
This has to stop now.
It’s not every day you see a gorgeous photo like this of two of the world’s most inspiring people to me...took my breath away! ❤️
@EliudKipchoge
@paulocoelho
😍
I think women are the Caribbean’s (if not the world’s) most underutilized resource, and have to potential to unlock tremendous socio-economic transformation and progress, if only there was
#GenderEquality
The
#FutureIsFemale
So these strange pigeon / dove birds keep destroying my plants, trying to live in them. Just spotted one again bedding down in my chives, so I opened the glass door to the patio to chase the bird, flailing and shouting...and then I realize...
I’m naked.
“A recent study in the United States found that mothers with a husband or live-in male partner sleep less and do more housework than single mothers. Another study reported that husbands create about seven hours of extra housework a week for their wives”
The glorious return of FT(AV) Jamaicawatch. After a nasty Covid setback, Jamaica is back on track for the most miraculous economic turnaround story of the decade (century?).
Me : can you come between noon - 2pm please?
Plumber : ent you work from home?
Me : yes but I am in meetings from 10-noon and can’t be disturbed.
Plumber : ok I will come bout 11
Me : please come between noon - 2pm
Plumber : ok call mih when yuh meeting finish
2:20pm. No plumber
Think about someone you love, or someone whose love & attention you want. What value do you add to their lives? How do you make their lives better? Easier? And if you struggle to answer that honestly, or if you struggle to find time/energy to add value to their lives, rethink.
This gentleman, most renowned for his cricket skills before being elected Prime Minister of Pakistan, explains the socio-economic challenges facing developing countries with a deeper & more compassionate understanding than I’ve seen/heard from some of the most learned economists
My appeal to the international community, the UNSG & international financial institutions to respond positively to the dilemma confronting developing countries in the face of the COVID19 pandemic.
#Global_Initiative_Debt_Relief
When you get a call from someone you love, admire, & respect as a patriot, as an experienced & learned economist, as a former finance minister & stellar policy maker, an absolute gentleman, sweeter & more humble than any other - to discuss your thoughts on economic policy 🔥🔥🔥
I got together with a few friends to have a chat about what’s REALLY happening with the T&T economy.
I hope you find this useful and that it brings clarity, especially with all the misinformation and noise, distraction and downright madness taking place
“There is a barrier that every small islander inherits, especially after colonialism. It is a barrier of self contempt. You are a little island, so you are born into a situation where you feel lesser than other people. But...the things that we do best, are worthy of HALLELUJAHS!”