The Cyprus CIP Reforms and the Caribbean

THE STAR Businessweek JUNE 8, 2019

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in this edition of

The Cyprus CIP Reforms and the Caribbean Many Caribbean nations maintain that Citizenship by Investment Programmes (CIPs) are a leading example of a truly global industry serving a truly global audience. While specifics surrounding a programme will vary from country to country, all have in common the opportunity for foreigners to invest money within a nation in return for a passport.

Just as in any marketplace with many providers, changes in one CIP can impact the others, for better or worse, as global citizens search among CIP offerings for one that benefits them the most.

By ED Kennedy, STAR Businessweek Correspondent Continued on page 4

SBW THE STAR Businessweek

St. Lucia Embraces Alternative Dispute Resolution Warring companies in dispute over contracts; business partners ironing out the terms of a deal; suppliers pressing for their rights after an unsatisfactory transaction — all these scenarios would usually mean a timeconsuming, expensive and arduous journey through the courts.

Pages 3 & 6

Youth in Crisis Youth unemployment rates in the Caribbean are among the highest in the world, according to the Caribbean Development Bank (CDB).

Page 7

Daniel Best, Director of Projects at the Caribbean Development Bank presenting the bank’s strategy to address high youth unemployment in the region.

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JUNE 8, 2019

NATURAL RESOURCES

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The STAR Businessweek Christian Wayne Publisher & EDITOR of STAR Businessweek

Canada Firm Makes New Gold Find And Plans To Drill

By Steven Jackson

Jamaica has a history of mining, going back to the Spanish in the 16th century, the British in the 19th century and the modern Bauxite industry through to the 21st century. Mineral exploration in Jamaica is a large contributor to the country’s GDP. New mineral exploration and development is welcome and encouraged by the Jamaican Government.

C

arube Copper Corporation made new gold and copper finds in Jamaica and wants to drill for the metals, according to the Canadian company’s latest market filings .

There are strong levels of gold in the soil and rocks, and the Main Ridge project will “rapidly advance to drilling stage”, said Carube.

The Main Ridge project covers 30 square kilometres in central Jamaica and is one of seven exploration zones held by the Canadian company under licence.

Carube said there were “new gold discoveries” in Donkey Hill and Mango Valley, and that the soils returned up to 2.5 grammes per ton (g/t) of gold.

However, the level climbs as high as 6.1 g/t gold in some areas of Donkey Hill, and to 13.9 g/t at Mango Valley.

The company described the finding as “strong”. It added that gold in the soil extends for 5.5 kilometres away from the Pennants gold mine held by AusJam, which shut down in 2004 due to low productivity.

“Results to date validate the exploration team’s interpretation that the gold-bearing quartz (veins) extend northwest and southeast of the former Pennants gold mine. Mapping, sampling and trenching will continue west and east of the former Pennants mine, to define the structural controls on gold mineralisation and define the source of high copper in soils within the project area,” Carube said.

Carube, which trades on the Toronto Stock Exchange, is held 67.2 per cent

by the public, 14.7 per cent by officers and directors, 11.5 per cent by Wallbridge Mining Company, and 6.6 per cent by Tigers Realm Group.

In August 2018 Carube created small open pit gold mine adjacent to Pennants gold mine to test 1990s exploration datasets.

In October the company results showed “high-grade gold rock chip results” in Main Ridge. And in November Carube announced additional results found in the soil, 5.5 kilometres parallel to Pennants gold mine.

In regard to copper mining, Carube also made solid leads and finds in a zone in proximity to Main Ridge called Authur’s Seat. In April 2019 market filings, Carube said it would prioritise three zones within Authur’s Seat, led by Old Woman’ s Hill.

That hill offers strong copper prospects, with 500 particles per million (ppm) of copper in the soil. It added that the presence of copper-rich ferns on the hill should translate to strong results.

“Copper-rich ferns will only grow in soil that contains above 500 ppm copper,” said Carube in presentation in January.

The company holds a portfolio of assets in Jamaica valued at US$ 14mn. It now has 100 per cent ownership of 11 licences covering 535 square kilometres.

In 2015 Carube entered into a definitive agreement with OZ Minerals from Australia related to an earn-in and potential joint venture with respect to its Jamaican assets.

In 2016 OZ Minerals elected not to proceed with exploration and ceded the assets to Carube.

Efforts at comment from Jamaican mining officials and Carube CEO Stephen Hughes were unsuccessful.

DISPUTE RESOLUTION

The star businessweek

St. Lucia Embraces Alternative Dispute Resolution

By Catherine Morris, STAR Businessweek Correspondent

W

arring companies in dispute over contracts; business partners ironing out the terms of a deal; suppliers pressing for their rights after an unsatisfactory transaction — all these scenarios would usually mean a time-consuming, expensive and arduous journey through the courts. But there’s another option when it comes to corporate conflict.

Alternative Dispute Resolution (ADR), better known as arbitration or mediation, can help parties avoid a legal battle. Now, thanks to recent efforts by governments, institutions and industry groups, there is growing awareness of ADR’s scope and benefits in Saint Lucia and throughout the wider Caribbean.

What is ADR? ADR covers both arbitration and mediation. Although the two are sometimes used interchangeably, they are different processes. In arbitration, one party brings a claim against another, both produce supporting evidence to bolster their case and, after a period of analysis and consideration, the arbitrator makes a decision that is legally binding on both participants.

Mediation is a more informal process designed to find a mutually agreeable compromise. Decisions are not binding and generally reached by the participants themselves who are chaperoned by a mediator skilled in resolving conflict. These councillors are there as advocates and guides to allow the parties to air their grievances and reach an understanding.

ADR is used in both civil and commercial cases but has proved particularly popular in labour

Mediation and arbitration are two methods for settling disputes without resorting to expensive lawsuits. They are often lumped together under the term “alternative dispute resolution” or ADR. People often confuse the two, but they are in fact very different.

disputes, construction, the maritime industry, intellectual property and those cases where the participants need confidentiality, impartiality and independence.

It’s easy to see why many parties choose ADR. Dragging disputes out in the courtroom is a time-consuming business, especially in Saint Lucia where the justice system is hampered by lack of resources and facilities. In the corporate world, where time is money, a long court case is a daunting proposition. “There is a misconception that arbitration is more expensive than going to court because you don’t pay for a judge but you pay for an arbitrator,” explains Shan Greer, consultant for Saint Lucian law firm Floissac Fleming & Associates and chair

of the Caribbean branch of the Chartered Institute of Arbitrators (CIArb). “People look at it as a dollar for dollar thing, and fail to consider the cost to a business when you have a dispute that is not resolved quickly. Courts take years and that can cause significant problems.

A simple arbitration can take just six months.”

ADR can also lead to better outcomes.

A situation where both parties come together to reach a compromise is often preferable to a judge handing down a verdict that may not satisfy either the claimant or the respondent. With ADR, both sides feel like they have contributed to the outcome and reached a new level of understanding. This, in turn, makes them more likely to uphold the result.

JUNE 8, 2019

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Reform and Modernisation Government announced in May that it would make ADR more accessible under Saint Lucia’s legal framework. Although details were scarce at press time, many stakeholders are hoping this signals a move to upgrading the legislative framework. Currently, arbitration in Saint Lucia falls under legislation based on the English Arbitration Act of 1950.

And Saint Lucia is not alone in relying on an outdated ADR regime; many countries in the Caribbean have failed to keep up with the changing times and standards, in particular the UNCITRAL Model Law on International Commercial Arbitration which has been adopted by the United Nations.

Updating the Caribbean’s arbitration agenda is a priority for the Improved Access to Justice in the Caribbean (IMPACT Justice) project, which launched in 2014.

IMPACT Justice drafted a new model legislation intended to bring the region up to speed and on a footing with the international community. In 2018 the Model Arbitration Bill was sent to CARICOM and is currently being reviewed and fine-tuned by the community.

For Greer, it’s a step forward and one that she hopes will bring about a shift in focus. “There has been a failure in the region as a whole to appreciate the value of arbitration.

Most people cannot identify with it so there is not that push towards it.

There’s a lack of awareness but once people understand the process they are more likely to buy into it.

“It takes time but we are seeing that changing mindset. Each country that gets onboard makes it easier to reach out to other countries who have not reached that stage.”

Jamaica, Barbados and the Continued on page 6

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JUNE 8, 2019

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The Cyprus CIP Reforms and the Caribbean Continued from page 1

A passport to the Eastern Mediterranean island of Cyprus

T

hat’s why recent changes to the CIP offered by Cyprus are important, not just for the future of the Eastern Mediterranean island, but all nations that offer CIPs. Now is a good time to recap changes made across the seas, and what it could mean for the Caribbean family.

The Unique Appeal of a Cypriot CIP For many years the Cypriot CIP was among the most desirable in the world: a stable democratic nation, averaging over 300 days of sunshine a year, with a CIP passport acquirable in just 90 days that would give a newly minted Cypriot resident immediate access to the European Union. The price tag of Euros 2 million was expensive by CIP standards, but offered terrific value for money for those needing easy and speedy access to the EU. However, it was this speed and accessibility that saw the Cypriot government come under intense pressure from the European Union. For Brussels, such a rapid turnaround for such farreaching access represented a security issue, as well as a lightning rod for criticism surrounding money laundering, corruption and other criminal activity.

Previously called the Cyprus Citizenship

by Investment, the rebranded Cyprus Investment Programme comes with a number of new restrictions. Now, wouldbe citizens must maintain an investment in Cyprus for five years since the date of their naturalisation, an increase from three. Any applicant who has previously been rejected for a CIP by another EU nation will be ineligible to take part in the Cyprus Investment Programme.

And finally, even if they are granted a passport, non-EU nationals will require a valid Schengen visa for travel throughout EU member states. With these greater restrictions, an increase in global citizens shopping around is sure to follow.

The Cyprus Experience in the Caribbean For local nations there’s the opportunity to respond to Cyprus’ decision in two main ways. For those with CIPs who also retain strong economic and cultural links to Europe (including, for now, the UK), such as Antigua and Barbuda, Dominica, Saint Kitts and Nevis, and Saint Lucia, the new restrictions on the Cyprus Investment Programme offer an avenue to reframe their current offerings as an easier path to obtaining another passport.

By having to make reforms, Cyprus may leave prospective applicants fearful of future revisions to its CIP. Local nations could highlight that, by comparison, they can offer greater stability and predictability with their CIPs. Cyprus is not alone as a nation that has reformed its CIP, and the pressure placed upon it by the EU was interwoven with in-country concerns that the CIP was being utilised for money laundering and corruption, alongside lowering defences against foreigners of poor character who would see a Cypriot passport as a pathway to new criminal activity.

Earlier this year the Cypriot government addressed this by allocating Euros 1.4 million to investigate and carry out due diligence on CIP applicants.

Here in the Caribbean, many nativeborn citizens have expressed concern surrounding the security of CIPs. While not everyone may be happy with the existence of CIPs, all should agree that upgrading security to ensure that all applicants are of good character is a wise move.

Global Citizens Responding to Global Events Alongside Cyprus’ reforms, there are numerous global trends that will continue to impact CIPs in the near term. The first and most obvious is Brexit. While it’s known that the UK will retain a strong trading relationship with the EU, no matter what, whether this also includes Freedom of Movement for Britons to work and travel in Europe, as it does today, remains uncertain. For those with the ways and means to hedge their bets, there’s every reason in this period to acquire an EU passport via a CIP. Second is the increasing control of capital and its citizens generally by the Chinese government. With China among the biggest markets for CIPs globally, a passport from another nation offers a new flexibility when it comes to movement in and out of the country. There’s even the possibility for a Chinese citizen to renounce their native citizenship and thereafter rely exclusively on the passport acquired via a CIP as their means of national identity and citizenship.

Finally, there’s the new flirtation with protectionism generally. The push to have ‘local goods made by local workers for a local market’ helped propel Donald

CITIZENSHIP BY INVESTMENT Trump into the White House in 2016.

Today it also accounts for many countries wanting multinational companies that earn locally, to be taxed locally. For those resistant to such changes, a CIP offers another tool in the arsenal.

Securing a Future for CIPs Many beneficiaries of CIPs and CIPadvocates may point to the relatively few scandals surrounding successful applicants as a sign that the schemes work. Of course, CIPs can hold substantial security risks if managed incorrectly, and ultimately the nature of serious organised crime often means a huge scandal exists only in rumours and whispers for a long time, until it is totally blown open with devastating and farreaching consequences.

This is a particularly important consideration given the relative youth of most CIPs in the region. This is no suggestion that CIPs have no place, nor that they can’t offer real positives for applicants and their desired nation.

Those who seek to simply dismiss Cyprus’ latest reforms as a speed bump on the road to ongoing profits with CIPs would do well to recall the old adage: ‘Where there is smoke, there’s fire.’

Now that Cyprus has made its CIP tougher, those with criminal intent who once may have looked to Nicosia for a passport, may now have their sights set on a Caribbean nation. In response, all governments need to re-examine security for the benefit of all their citizens — good citizens — whether native-born, naturalised, or seeking to arrive in the future.

Comments from unverified Saint Lucia CIP applicants penned to a Youtube video published by popular CIP advisor Andrew Henderson, CEO of Nomad Capitalist. Certainity and consistency are important attributes to consumers in the CIP industry.

REPUBLIC OF CUBA

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JUNE 8, 2019

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Cuba’s New Leadership in 2019

By ED Kennedy, STAR Businessweek Correspondent

R

ecent months have seen Cuba’s new president, Miguel Diaz-Canel, busy establishing the framework for what he hopes Cuban historians will one day call the Diaz-Canel Era. Central to this has been the adoption of a new constitution for Cuba. In some respects the document is ‘business as usual’, reaffirming socialism as ‘irrevocable’ in the Communist Party of Cuba’s platform for the island nation. However, it also offers some notable changes — ones which signify a shift in mindset by Cuba’s authoritarian rulers, as well as, potentially, a new opportunity for the people of Cuba and their economy. Let’s detail this now in-depth.

Cuba Throughout the Decades In the three decades since the conclusion of the Cold War, the Cuban government has experienced an era of stagnation at home, and isolation on the world stage.

With the collapse of the USSR, Havana lost its closest and most powerful ally and, as the Soviet Union collapsed, the curtains fell on any chance that a communist revolution would remake the world.

The Cuban government remained largely stubborn in its global view, with little to no interest in mending bridges or opening up its economy; but that changed when the February 24 referendum saw a new constitution enacted. The outcome of the vote came as no surprise given that Diaz-Canel wanted it — and therefore got it! This updated constitution sets Cuba’s economy on a new path, one where even the current occupant of the president’s office and other senior officials of the Communist Party of Cuba cannot know all of the outcomes ahead.

Free to Do Business Central to the new constitution is the recognition of private business, nonfarming co-operatives and the free market. Recognition is not the same as embrace, with the new document reaffirming the one-party state, and the right of government to wield its power over the economy at will.

Just as the fall of the Berlin Wall showed in 1989, once an opening is

President Miguel Díaz-Canel Bermúdez, 17th president of the Republic of Cuba. President Díaz-Canel assumed office on April 19, 2018.

established, it can be hard to shut it, especially against the popular will of the people. The Cuban government must also contend with a future where not only are economies globalising, but the individual freedom that people enjoy in working, investing and travelling is increasing.

Cuba’s government may point to China as a great example of economic growth with centralised control, and take inspiration from it, but China is also home to a robust, virtual private network that citizens use to get around internet censorship. So, although Beijing may have attempted to build, with the Great Firewall of China, something in the digital age that replicates its famous landmark, the reality is that the current penalty for using a VPN in China can be as low as a simple fine of US$145. Even those with proven form in building an authoritarian state, know that keeping a free internet under wraps is all but impossible.

Given that Cubans see, with the internet, a capacity to communicate online, do business online, and even park funds in a foreign country online, then the Cuban government, ultimately, will have to change its economy to be receptive to this new economic understanding, or continually lose out to the underground economy as a result.

With the past year seeing private wi-fi legalised in Cuba, and the 3G mobile network arriving in December 2018, it appears that the Cuban government recognises it must open its economy more. This is to be commended but the pace of this change should be criticised; a satisfaction with incremental domestic steps in a decade of rapid global innovation does a disservice to the Cuban

The Cuban government, ultimately, will have to change its economy to be receptive to this new economic understanding, or continually lose out to the underground economy

people, especially those in most need of new economic pathways.

Beyond the Constitution Few countries can cite such an eventful few years in their national story as can Cuba. Recent history saw revolutionary hero Fidel Castro resign, his brother Raul ascend, Raul thereafter resign; and throughout this period the establishment and then revocation of normalised USCuba diplomatic relations by Washington.

Looking to the future, Cuba’s government faces two inescapable problems. Firstly, for all the flaws that do exist in the free market economy (and recent years have shown some of those flaws in substantial ways), it remains a system that has lifted more people out of poverty than any other. One need not look to a democratic nation for an example of this, but to China. When it comes to foreign and social policy, the Communist Party of China has sought to retain an iron grip on its people but, over forty years ago, the Deng Reforms brought a shift to a free market economic system, and thereafter millions were lifted out of poverty as a result.

Continued on page 8

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DISPUTE RESOLUTION / COMPANIES OFFICE

Corporate Conflict - St. Lucia embraces Alternative Dispute Resolution Continued from page 3

Bahamas have been making progress in arbitration, strengthening their regimes to attract overseas business. Foreign companies will often seek out neutral ground for their arbitration processes and this creates an opportunity for jurisdictions in the Caribbean who are aligned with international standards.

Greer warns, however, that the market may quickly become too crowded and she would like to see a more regional approach, saying: “A lot of Caribbean islands are trying to tap into that market [but] one of the dangers is that if we create too many centres in the region, we are going to unwittingly unravel the process and it will be a race to the bottom. It’s not necessary to have an arbitration centre in every jurisdiction.

There is scope for them to work together so there is fair distribution and unity across the region.”

Preparing for the future The Caribbean branch of CIArb is optimistic about the future of ADR in the region, according to Greer who says the association has been

working on ‘sensitizing’ the public to its benefits, training arbitrators and reaching out to get more nonlawyers involved. She says: “We are hoping to see more co-ordination and collaboration throughout the various Caribbean states. We are seeing it now with a lot of regional institutions like CARICOM participating. There is a lot of capacity building. Arbitration is coming and if [countries] are not prepared they will not be able to reap the benefits.”

In Saint Lucia, the Dispute Resolution Association (DRA) is focusing on domestic arbitration. With the majority of the island’s business community being small or mediumsized enterprises, the DRA has introduced fast-track arbitration rules specifically for small disputes (those up to EC$150,000). Greer, who is President of the DRA, explains: “We try to get smaller business onboard.

They are very anxious about things they do not know about and things they think will cost them money.

Every penny counts for them.”

Shan Greer, Attorney at Law, chair of the Caribbean branch of the Chartered Institute of Arbitrators

There are currently around 50 trained arbitrators in Saint Lucia. Greer advises those wanting to avoid court and explore ADR not to be intimidated by the process but to reach out to established practitioners such as the DRA, or consult their lawyers to see if ADR is a good fit for their particular problem. “People always struggle with

In Saint Lucia, the Dispute Resolution Association (DRA) is focusing on domestic arbitration. With the majority of the island’s business community being small or mediumsized enterprises, the DRA has introduced fast track arbitration rules specifically for small disputes (those up to EC$150,000) something new and trying to adapt to it [but] you are going to see value. It is not just about how much you pay to start [arbitration], it is about how much it will save SBW your business overall.”

The Saint Lucia Registry of Companies & Intellectual Property Company Incorporations Name: BDS Logistics Inc.

Name: Green Packaging Company Ltd.

Description: Customs clearance

Description: Wholesale/retail of

and brokerage

packagaing material

Directors: Bertlan Shepherd,

Directors: Marcia Dupre, Ruth Lionel,

Dernelle Shepherd, Adjoiva Best

Deale Lee, Brendan Lee

Date Incorporated 5/15/19

Date Incorporated: 5/22/19

Chamber: The Law Offices of

Chamber: McNamara & Co., Chambers

Gerard R. Williams Name: Solutions Plus Inc. Description: Construction Directors: Kernie Emmanuel, Lousie Emmanuel Date Incorporated: 5/16/19 Chamber: SEDU Name: NC Construction Plus Inc. Description: Construction Directors: Cuthbert Nathoniel Date Incorporated: 5/17/19 Chamber: SEDU

Name: Westmoreland and Hills 41 Limited Description: Real estate investment Directors: PIF Corporate Services Inc., Tyler St. Brice-Cazaubon Date Incorporated: 5/24/19 Chamber: Fosters Chambers Name: Squeeze Cash Limited Description: Mobile payment service Directors: Ashley Mc Lean, Sunal Fontinelle Date Incorporated: 5/24/19 Chamber: Kenrick D. Quashie

Name: Multy CAP (N.E.) Inc.

Name: New Horizon Medical Practice Inc.

Description: Property development

Description: Healthcare

Directors: Xavier Ribot, Nick Forsberg

Directors: Ruben Volson

Date Incorporated: 5/22/19

Date Incorporated: 5/24/19

Chamber: Chong & CO.

Chamber: SEDU

YOUTH UNEMPLOYMENT

The star businessweek

Youth in Crisis

By Catherine Morris, STAR Businessweek Correspondent

Y

outh unemployment rates in the Caribbean are among the highest in the world, according to the Caribbean Development Bank (CDB). In 2015 the bank released the most comprehensive and wide-ranging report on the employment crisis to date, finding that young people (defined as 15-24 years old) are being failed by government, industry and other stakeholders. Lack of opportunities, skills, training and social alienation are holding the next generation back in a big way, with serious socio-economic consequences for all Caribbean nations.

Underlying issues According to the Central Statistics Office, the youth unemployment rate in Saint Lucia last year was 36.3 per cent. But 2019 is shaping up to be a better year for the country’s young people as youth unemployment dropped by 12 per cent in the first quarter of 2019, dipping to 25.9 per cent. This puts it on a par with the rest of the Caribbean where the regional average hovers around 25 per cent, according to the CDB. Getting kids into work means giving them a glimpse of the future. Whether further education, vocational study or creating their own business, the more options available to young people, the better. Vocational and technical training has been pushed across the region, but governments have tended to relegate the issue to social and educational departments rather than relating it to the labour market or the economy. This has led to a gap between the skills taught, and the skills needed. Greater collaboration with industry can help the public sector identify what opportunities exist in the market and better prepare students for meeting those needs. A haphazard, one-size-fits-all approach does not recognise the changing needs of the business community and the differing capabilities of individual young people.

Lack of skills is one hurdle, but there

17-year old Arnold Joseph was killed by police on May 22, 2019. Joseph was a Form 5 student at the Entrepot Secondary School.

is also a deeper problem: many young people are simply unable, or unwilling, to work. Some may be prevented by health issues such as disabilities or pregnancy, others by family concerns or their inability to get to a job as they have no access to transport. There is also a worrying amount of young people actively turning their backs on employment as they are lured into crime or succumb to pressure from their peer group, believing themselves too alienated from the system to participate in the workforce.

Engagement and entrepreneurs The transition from the classroom to the workplace is where a lot of young people drop out and disappear — into crime or poverty. There are a lot of ways governments and the private sector can make this leap less intimidating for young people just starting out on their career trajectory. And the work can begin in schools, targeting students in their final years with career counselling, vocational

training and visits to institutes of higher education.

Partnerships with the private sector can generate opportunities for internships or apprenticeships. Industry leaders can get involved with mentoring programmes to show school leavers that they can follow in their footsteps. Exposure to entrepreneurs and access to training or other support systems gives kids the option of branching out and creating their own businesses.

Young people are natural entrepreneurs.

Curious, engaged and forward-thinking, Caribbean youth have a lot to offer the region’s economy but are frequently thwarted by lack of access to finance, limited technical support and social pressures. Following your dreams can be rewarding and lucrative beyond the startup stage, but getting there is difficult for even the most dedicated and motivated entrepreneur.

In March, the Caribbean Development Bank launched its ‘Strengthening the Entrepreneurial Spirit of Caribbean Youth’ project. The initiative will give at least 350 young people from five Caribbean countries, including Saint Lucia, training and mentoring and is being jointly financed by the CDB and the InterAmerican Development Bank.

Introducing the programme, Director of Projects Daniel Best said: “Harnassing the entrepreneurial talents of the region’s young people and easing the constraints of the labour market are vital ingredients for creating inclusive and sustainable growth.

“Enhancing youth entrepreneurship development must be a regional priority as that will contribute to countering youth unemployment which, in turn, helps mitigate social degradation and builds economic resilience. With young people making up such a large proportion of our population, they are a group that is too big to fail.”

To qualify, entrants must be aged 18-35.

The work will be done through face-toface training at Youth Business Trusts and includes an e-learning platform and business after-care services for fledgling enterprises.

Action The cost of high youth unemployment is staggering, and affects every member of society. Out-of-work young people are more likely to turn to crime, develop habits such as substance abuse and violence, have poor mental health and spiral into long-term

JUNE 8, 2019

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unemployability. And it’s not just felt at the individual level — households are affected with diminished income, more incidences of abuse and stigmatisation of the entire family.

The typical unemployed young person will also place a heavy burden on the state, requiring social support programmes, health benefits, welfare and, in extreme cases, the cost of imprisonment and/or rehabilitation. The CDB estimates that the average cost to a country is 1.5 per cent of its GDP. The Bank isn’t just focusing on encouraging entrepreneurs, it also wants to see a multi-faceted approach involving job creation, national youth policies at the country level, social protection and skills development. In terms of jobs, an emphasis on emerging fields is welcome. Innovative new niches such as ICT, green technologies and the creative and cultural industries, can be a means of harnassing the next generation’s interests and skills.

Practical support and help can come from many sources including development agencies, governments, trade unions, non-profit organisations and advocacy groups, but it’s important not to forget the power of positivity and the importance of role models. While the high youth unemployment rate can give rise to the image of young, disempowered and demotivated youngsters, there are plenty of go-getting innovators among the next generation, and these young professionals have a part to play in encouraging their peers.

The Organisation of Eastern Caribbean States (OECS) is working to inspire and encourage young people across the Eastern Caribbean islands with its Youth Empowered Society (YES) programme.

Last year, the OECS launched YES In Action, which showcases success stories from the region and encourages networking and information sharing between young up-and-comers. Young Saint Lucians highlighted by the OECS include musician Marvelon ‘Stixx’ Mitchell, businesswoman Heidi St Clair and agri-tech pioneer Johanan Dujon.

OECS Director General Dr Didacus Jules said: “We cannot underestimate the power of these positive narratives on the future aspirations of our young people.

We are committed to doing everything in our power to inspire SBW and support the region’s youth.”

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REPUBLIC OF CUBA

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Cuba’s New Leadership in 2019 Continued from page 5

Nearly half of Cuba’s 11.2 million residents have cell devices, but it’s unclear how many of them will actually be able to afford internet service. A standard monthly wage is US$30, and the cheapest package is set to cost $7.

The Trump administration is setting out to crush free markets in Cuba and is simultaneously turning out the lights on a new class of cosmopolitan entrepreneur.

Secondly, while Cuba may have enjoyed a warmth in relations with the United States under Obama, in the Trump era, it is not so fortunate. The Cuban government may be content to wait until 2020 or 2024, or even beyond, for a Democratic party president to return and normalise relations, but it’s unlikely that the United States will oscillate back and forth.

Consider the experience of a number of foreign diplomats in Cuba who have fallen ill since opening up an embassy.

Even if a Democratic president were to be more receptive to warmer relations, the apparent attempts to make foreign diplomats in Havana unwell via poison gas and targeted microwaves, will leave

While Cuba may have enjoyed a warmth in relations with the United States under Obama, in the Trump era, it is not so fortunate

a president of any party ready to put down the Obama-era restoration as a ‘trial run’ that will not be replicated.

Real Power to The People The Cuban government may indeed aspire to mirror China’s path to greater economic growth but beyond some new window dressing emerging from the presidential palace, this is by and large still the same old Cuban government. A decade ago, as Fidel Castro’s era ended, many nations were ready to work in good faith to see a new path; this time, expectations that good faith will be followed by real change, will be higher.

In this vein, Diaz-Canel may be laying the groundwork for many changes that he plans to make as president. Given that 1959 is increasingly a long time ago, this generation of Cubans — the children of the revolution — may not be so patient about real freedom long denied them. It’s here that DiazCanel will need to decide whether he wishes a legacy as a hero of the Cuban government, or the Cuban people — as it appears the nation’s future will only let him pick one.

The Cuban Embassy of Saint Lucia was contacted for comment on this story but despite multiple enquiries did not respond in time for publication.

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