By: Antonio Dey | HGP Nightly News|
Trinidad: Persad-Bissessar Brands CARICOM ‘Dysfunctional’ Amid Growing Rift
PORT OF SPAIN, TRINIDAD — The political friction between Port of Spain and the CARICOM Secretariat has reached a boiling point. Just two months after questioning the bloc’s reliability, Prime Minister Kamla Persad-Bissessar launched a scathing critique, labeling the regional organization “dysfunctional” and warning of deep internal divisions.
- Accountability Crisis: The Prime Minister cited poor management and a lack of transparency as primary reasons for the bloc’s instability. She further accused the organization of unwarranted interference in the domestic politics of its member states.
- Geopolitical Realignment: In a sharp pivot, Persad-Bissessar accused CARICOM of undermining its relationship with the United States by continuing to support the Maduro regime in Venezuela. She cautioned that the bloc has “lost its direction” and will face significant diplomatic consequences for its current stance.
- A Fragile Union: The comments follow ongoing disputes over the reappointment process of the Secretary General, signaling a potential fracture in Caribbean integration efforts.
Jamaica: PSOJ Demands Urgent Energy Shift as Oil Nears $100/Barrel
KINGSTON, JAMAICA — With global energy markets in a state of high volatility, the Private Sector Organization of Jamaica (PSOJ) is sounding the alarm for a radical transformation of the nation’s energy policy.
- Vulnerability: With oil prices hovering near US$100/barrel, Jamaica remains highly exposed due to its 80% reliance on imported fossil fuels.
- The 2030 Goal: The PSOJ is calling for a “rapid shift” to domestic energy sources, urging the government to clear hurdles for investments that would see 50% of the nation’s energy come from renewables by 2030.
- Economic Forecast: While inflation is expected to rise modestly through 2026, the PSOJ warns that energy security for emerging markets like Jamaica will remain at risk unless “decisive national action” is taken to modernize the grid and stabilize consumer costs.
International: Iran Reopens Strait of Hormuz; Global Oil Prices Plunge
TEHRAN / PARIS — In a major breakthrough for global trade, Iranian Foreign Minister Abbas Araqchi announced today that the Strait of Hormuz is now “completely open” for commercial vessels. The decision aligns with the ongoing ceasefire in Lebanon and follows weeks of intense diplomatic pressure.
- Market Reaction: The announcement triggered a massive sell-off in energy markets. Oil prices plummeted by more than 11%, with Brent crude dropping by more than $11 to settle at $88.27, and U.S. WTI falling to $83.29.
- Diplomatic High-Stakes: The reopening coincides with a high-level summit at the Elysée Palace, co-hosted by French President Macron and UK Prime Minister Starmer. German Chancellor Merz and Italian PM Meloni have also joined the talks, which focus on securing long-term navigation rights in the waterway.
- A Fragile Peace: While the opening is a relief for global supply chains, it is currently tied to the duration of the two-week ceasefire. All eyes remain on Tehran and Washington as the current truce is set to expire this Tuesday.
