Caribbean Times 2nd Issue - Tuesday 21st February 2017

Informative, reliable, enriching!
Tuesday 21st February 2017 A n t i g u a a n d B a r b u d a
Vol.9 No.2 $2.00
MASSIAH PREPARES
TO LAUNCH PARTY
By Joanna Paris
gressive party for some time now.
Preparations are currently being made She said the official name, motto and
for the launch and unveiling of the slate he colours that will be associated with the
of candidates who will contest the 2019 alternative option will also form part of
General Elections as part of the “new, the press launch.
fresh and dynamic” party.
“We are in this for this long haul, we
The woman behind the move, Member
of Parliament for the All Saints East because we believe that both parties have
are not in this for ourselves, we are in this
and St. Luke Constituency, the Hon. Joanne
Massiah said that the new organi-
are poised with the sincerity and patrio-
failed the country and we believe that we
zation will be revealed “in a matter of tism to answer the call of the people of
weeks”.
Antigua and Barbuda and to finally make
Speaking on Against the Backdrop on the country a participatory democracy,
Monday on state media, MP Massiah said where we live and embrace our motto
that eh country definitely has something “Each endeavouring, all achieving”, she
to look forward to.
said.
“It is an opportunity for me to rebirth She also advocated for the support of
in a new fresh and dynamic entity”, she the public in the new initiative.
expressed.
“Our new, fresh and dynamic party
Massiah has been the centre of a battle
with the hierarchy of the United Pro-
democratic franchise”, she expressed. Hon., Joanne
will be depending on you to exercise your MP for All Saints East and St. Luke, the
Massiah.
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2 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
Senate amends Proceeds of Crime Bill 2017
By Joanna Paris
The Upper House of
Parliament last make made
amendments o the Proceeds
of Crime Bill 2017, which
was passed in the Lower
House a week earlier.
The Proceeds of Crime
Act provides for the establishment
of a Proceeds of
Crime Fund into which the
proceeds from a confiscation
order or forfeiture order can
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be paid and distributed to
the agencies involved in the
fight of crime or for public
education.
While outlining the bill,
the Leader of Government
Business in the Senate, Lennox
Weston, voiced a number
of concerns as it related
to the use of the balance of
the fund.
He expressed the view
that the monies should be
used wisely for the overall
development of the country.
“I don’t think that it
makes much sense just to
divide the money here and
there. For such a small country
as hours, you cannot just
be dividing up money like
that.
“There is no way that I
will be in the Ministry of Finance
and we have millions
of dollars to spend properly
and I will be like Santa
Clause. No body spends
money that way”, he said
sternly.
In a rare occasion, Senate
Minority Leader, Harold
Lovell, echoed similar sentiments.
He indicated that the
Consolidate Fund was created
to hold monies belonging
to Central Government.
He noted that the proceeds
should be under the control
of the Ministry of Finance.
“I do not support this
bill. I think it takes us in
the wrong direction Madam
Speaker and I have not seen
one like this before”, Senator
Lovell established.
During the committee
stage, the Senate agreed to
make the amendment indicating
that after the required
payments from the proceeds
of crime have been met, the
balance should be placed in
the Consolidated Fund.
PM addresses CARICOM First Ladies
In his first engagement of the 28th Inter-Sessional
Meeting of CARICOM Heads
of Government, PM Gaston Browne addressed
a Forum of CARICOM First Ladies
and Spouses of CARICOM Heads of Government
in Georgetown, Guyana.
Present at the Forum were the First Ladies/Spouses
of Guyana, Belize, Jamaica,
Trinidad and Tobago and Haiti who began
a two-day meeting aimed at identifying and
addressing issues that present particular
challenges to women in the Caribbean.
Speaking at the Forum, PM Browne
looked at the issues at the top of the meeting’s
agenda, including domestic violence,
teenage pregnancy, cervical cancer, motherto-child
transmission of HIV/AIDS and trafficking
in persons.
He commended the first Ladies/Spouses
on their action, which seeks to implement
the ‘Every Caribbean Woman, Every Caribbean
Child’ initiative.
‘The women of the Caribbean have more
than shown their worth, especially in the
fields of small-business entrepreneurship
and social responsibility,’ Mr. Browne said,
‘and I consider it the duty of every Government
in the Caribbean to give the ECWECC
Initiative its full support.’
The Prime Minister went on to outline
some of the initiatives taken by his Government
to support entrepreneurial activity by
young women including the establishment
of a venture capital fund available to young
women who are in need of seed-money to
establish or expand a small business.
He pointed out that the UN Sustainable
Development Goals Agenda 2030, to which
all the CARICOM members were committed,
would be impossible to implement without
the full integration of women into the
economy and society on an equitable basis.
Also present at the Forum were a number
of international organizations and agencies
such as the UN Food and Agriculture Organization
(FAO) and the Pan-American health
Organization (PAHO), examining ways in
which technical and administrative support
could be given to the Initiative.
As the only Head of Government present,
PM Browne had the responsibility to report
to the plenary on the outcome of the Forum
and to recommend that CARICOM provide
its full support.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 3
CIBC FirstCaribbean assists start-up entrepreneurs
A number of start-up companies
and young people with
great business ideas will soon
get an additional avenue to
bring their plans to fruition.
Ten Habitat, a non-profit
organisation which focuses
on developing investor-ready
start-up Caribbean entrepreneurs
and regional bank CIBC
FirstCaribbean have partnered
in a venture to support local
and regional start-ups.
Gary Brown, Chief Executive
Officer of CIBC First-
Caribbean and Chairman of
CIBC FirstCaribbean’s charitable
foundation, and Selwyn
Cambridge, Founder of
Ten Habitat, recently signed a
Memorandum of Understanding
at the bank’s Warrens, St.
Michael offices which will
see the bank supporting the
work of Ten Habitat with a
yearly grant of USD$15 000
for the next three years.
“At CIBC FirstCaribbean,
we recognise the need for
young entrepreneurs to get
that grounding in starting their
businesses and so we support
the work of Ten Habitat and
organisations like it that will
hold the hands of young startups
to guide them on the way
to successful businesses,”
Mr. Brown said following the
signing.
Ten Habitat will work
with young entrepreneurs,
by exposing them to a range
of hands-on support that will
assist them in building their
businesses. The organisation
boasts a global network of
experts, mentors and coaches
who help the start-ups move
their ideas from concept to
reality and then further facilitate
them by mobilising the
Caribbean Diaspora to invest
in those businesses.
CIBC FirstCaribbean is
one of the first corporate entities
to support Ten Habitat in
their quest to assist the young
entrepreneurs as part of a programme
which will be rolled
out in Barbados first and then
to the rest of the Caribbean.
Ten Habitat supplies mentorship,
guidance, funding
and a co-working space for
the businesses and stages a
number of key events annually
aimed at strengthening their
various skills.
Gary Brown, CEO of CIBC FirstCaribbean International Barbados
and Selwyn Cambridge, Founder of Ten Habitat, sign the agreement
signifying the partnership between the two organisations.
Witnessing the signing is Debra King, CIBC FirstCaribbean’s Director
of Corporate Communications and a Director of the bank’s
ComTrust Foundation.
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4 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
Senator Weston urges US-based
businesses and citizens to pay their taxes
SALE!
By Joanna Paris
The Foreign Accounts
Tax Compliance Act
United States of America
implementation and
enforcement of the Inter-governmental
agreement
Bill 2017 was given
the approval of the Upper
House of Parliament last
week.
There was no debate
on the bill, indicating
that the senators were in
agreement with the contents
of the bill.
Leader of Government
Business, Senator
Lennox Weston, indicated
that the tax obligations
of persons who have US
based businesses or are
in the possession of a US
passport or Permanent
Residence Card will have
to be met with the passage
of the bill.
He added that it will
also increase the cost of
compliance for financial
institutions.
He noted that the Inland
Revenue Department
(IRD) will have a
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you.
critical part to play in the
process.
“The Inland Revenue
Commissioner is now the
official person and we
will need to hire persons
to ensure that we are in
fact complying.
“If we do not comply,
then the lucrative
offshore sector that we
are looking to invest in
will come under the hammer”,
Senator Weston
emphasized.
Senator Lennox Weston.
Massiah pleased
with gender parity
in the Senate
By Joanna Paris
Female politician and Member of Parliament for the All
Saints East and St. Luke Constituency, the Hon. Joanne
Massiah has expressed happiness with the fact that gender
parity has been achieved in the Senate with the appointment
of Senator Aziza Lake.
Senator Lake, who sits on the government’s bench, made
her maiden presentation last week Thursday, where she
highlighted the concerns of youth, women and men among
other areas of social development.
MP Massiah said that she was “very pleased and excited
about the news of the appointed of Senator Lake” and has
offered the young, female Senator congratulatory words.
She indicated that Senator Lake is a true advocate, who
not only speaks on behalf of women and girls but also the
youth.
“She must never be afraid to speak to the issues because
we are in this together and she has my full support”, MP
Massiah declared.
MP Massiah was a guest on ABS’s Against the Backdrop
on Monday.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 5
The American blockade of Cuba: Its
economic impact
By Everton Barnes
For many Antiguans and
Barbudans the United States
economic blockade of Cuba
is something that may have
been taught in the schools or
what they may have heard in
the media.
What has life been like
living in the shadow of
this unprecedented and
far-reaching blockade and
how has it impacted on the
country as a whole?
That was the gist of a discussion
held with Professor
Marlen Sanchez, who made
a stop-over visit to Antigua
on her way to attend a
University of the West Indies-sponsored
symposium
on the life of the late Cuban
leader, Fidel Castro. The
symposium is being organized
as a tribute to Castro,
and Prof. Sanchez will speak
on the social achievements
in Cuba and the Fidel Castro
Legacy. Prof. Sanchez heads
of the Caribbean Studies
Masters programme in the
Department of International
and Economic Research at
the University of Havana.
She told Caribbean
Times that to understand the
full impact of the economic
and financial blockade of
Cuba one has to understand
the scope of the U.S initiative.
“Firstly, it is important
to understand that the blockade
is not merely a problem
between the U.S and Cuba;
it is an extra-territorial matter
as it affects not just people
in Cuba and the U.S, but
also people and institutions
in other countries who may
wish to invest in Cuba,” she
explained.
Prof. Sanchez said Cuba
was cut off from the world
financial institutions and
forbidden to trade in the U.S
dollar, the lifeblood of the
world’s financial system.
“For example, if Cuba had
any US currency in any bank
to do a particular transaction
then that money is frozen.
Additionally, banks may be
forced to pay huge amounts
in fines for violating the
law,” she noted.
Because of this, she said
Cuba has been forced to
pay commissions to agents
and others to provide ‘middle-men’
roles to enable the
island to trade even for necessities.
“Cuba has to develop
alternate routes to get
around the U.S barriers. It’s
Associate of Prof. Sanchez, Sen. Mary Clare Hurst, Prof. Marlen
Sanchez and Cuban Ambassador, Gustavo Veliz Olivares.
difficult for some to understand,
but that is our reality,”
Prof. Sanchez stated.
Another way that the
Americans have sought to
cripple the Spanish-island is
with its exercise of its enormous
influence to bar Cuba
from becoming members of
the International Monetary
Fund (IMF) the World Bank
and the Inter-American Development
Bank.
“The U.S has threatened
to withhold funding for these
institutions should they give
the green-light to Cuban
membership. The U.S said
it would without its subvention
if the institutions do not
comply,” she declared.
According to the visiting
professor, there have
been some slacking of the
grip as the U.S has allowed
some trade in medicine
and agricultural products.
However, she noted that the
goods have to be paid for in
advance in cash. “Nobody
pays for anything in advance
in cash! Payments are usually
arranged through lines of
credit; that how the international
trade takes place,” she
declared.
Prof. Sanchez said other
benefits from what she
termed ‘the beginning of the
process of normalisation’,
has been the removal of limits
placed on remittances to
Cuba. She described this as
a major step as remittances
are an important source of
income for many Cubans.
Despite the nearly six decades
of the blockade, Prof.
Sanchez said Cuba has been
able to survive because of
the resilience, strength and
nationalism of the Cuban
people.
She added that Cubans
have been forced to innovate,
create and invent as
part of its strategy to maintain
its independence.

6 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
GARD Center celebrates 27
years of technical, vocational
and entrepreneurship training
GARD Center celebrates its 27th year as a technical
vocational and entrepreneurship training institution for
at-risk youth.
As a grassroots nongovernment organization under
the auspices of the Methodist Church in the Caribbean
and the Americas, plans are well underway for the next
3rd Annual Farm to Table Benefit Luncheon to raise
funds for the important work of the Center. Saturday,
April 22, 2017 from 12:00 noon to 4:00 p.m. is that
special date to put on your calendars.
Farm to Table is a movement to educate the consumer
about the linkages amongst agricultural producers,
the farming communities and the value of local natural
food that we eat.
The Center is pleased to once again celebrate our
producers and the chefs who will be creating some
unique and delicious recipes for all to enjoy.
Here’s an example of one of the dishes that was
served at last year’s Farm to Table.
Spiced Plantain &
Peppers Stuffed
Chicken w/ a hint of
mint
Presented by Chef Mario
Colindres of Goddard
Catering
Yield: 10 chicken breasts (4
Oz each)
Ingredients:
Chicken Breast 4 oz
Plantain
Cream cheese
Qty.
UOM
1290 grams
1344 grams
300 grams
50 grams
Nutmeg
2 grams
Pickled ginger
20 grams
Onions
50 grams
Garlic
20 grams
Salt
1 gram
White Pepper
1 gram
Vegetable Oil
2 grams
Lime Juice
100 grams
Fresh Parsley
30 grams
Thyme
20 grams
Diced Sweet Peppers
20 grams
Coconut Milk
14 Oz.
mint
20 grams
Method:
Marinate chicken in lime, salt,
pepper, parsley and thyme.
Cook plantain, crush with nutmeg and chopped
mint and set aside. In sauce pan sauté onions,
diced sweet peppers, ginger, garlic. Now add the
crushed plantain, cream cheese, coconut milk and
adjust seasonings to taste.
Stuff chicken breast 40g of stuffing. Place on
cross grill and finish in oven until chicken is
cooked.
Chef Mario studied at the ITCA Culinary Institute
in Central America and graduated in Production Administration
from M&M University in Texas. He also
trained and worked with chefs from France, Germany,
Switzerland, Spain, Mexico, Colombia, Chile and Asia
to get a rounded experience.
Born in El Salvador and has worked in several
restaurants, hotels, airline and industrial catering in El
Salvador, Venezuela, Guatemala, St. Maarten, Barbados
and St. Lucia.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 7
Cable & Wireless reports preliminary results
for the period ending December 2016
MIAMI, FL – Cable & Wireless
Communications Limited (“CWC”) is
the leading telecommunications operator
in substantially all of its consumer
markets, which are predominantly
located in the Caribbean and Latin
America, providing entertainment, information
and communication services
to 3.5 million mobile, 0.4 million television,
0.6 million internet and 0.8 million
fixed-line telephony subscribers. In
addition, CWC delivers B2B services
and provides wholesale services over
its sub-sea and terrestrial networks that
connect over 30 markets across the region.
On May 16, 2016, a subsidiary of
Liberty Global plc (“Liberty Global”)
acquired CWC (the “Liberty Global
Transaction”). Revenue, Adjusted Segment
EBITDA and subscriber statistics
have been presented herein using Liberty
Global’s definitions for all periods
presented unless otherwise noted.
Further adjustments to these metrics
are possible as the integration process
continues. The results for the three and
nine months ended December 31, 2016
(“QTD” and “YTD”, respectively) have
also been aligned to Liberty Global’s
IASB-IFRS 2 accounting policies and estimates.
Significant policy adjustments
have been considered in our calculation
of rebased growth rates for revenue and
Adjusted Segment EBITDA. For additional
information on Liberty Global’s
definition of Adjusted Segment EBIT-
DA and rebased growth rates, see footnotes
1 and 3, respectively. A reconciliation
of net earnings (loss) to Adjusted
Segment EBITDA is included in the
Financial Results, Adjusted Segment
EBITDA Reconciliation & Property,
Equipment and Intangible Asset Additions
section below. In addition, effective
for the 2016 fiscal year, CWC has
changed its fiscal year end from March
31 to December 31 to conform with
Liberty Global.
Operating highlights:
Organic increase (decrease) in
RGUs of 2,000 YTD and (20,000) QTD
were impacted by an adjustment that
we recorded in Q4 to eliminate 30,000
non-paying subscribers from our subscriber
counts
Internet and telephony subscribers
were up 7,000 and 2,000, respectively,
YTD on an organic basis, as we
increased penetration across our high
speed networks and sold more bundled
packages, particularly in Jamaica and
Trinidad
At December 31, 2016, 11% of our
customers subscribed to a triple-play
product, 33% to a double-play product,
and 56% took only one product from us.
While continuing to improve, our bundling
ratio of 1.54 RGUs per customer
remains relatively low, which provides
ample runway for continued RGU
growth as we seek to sell additional
products to our customers
Mobile subscribers grew by 11,000
on an organic basis YTD, and by 50,000
QTD as promotions drove increased
sales during the holiday period, particularly
in Jamaica and the Bahamas
Highlights across our largest markets
were as follows:
In Panama, enhanced video subscriber
growth accelerated QTD following
the launch of our new “Mast3r” bundles
during September 2016, and we added
14,000 video subscribers on an organic
basis YTD. Of the customers taking our
Mast3r products in December, 62% and
13% subscribed to a double-play or triple-play
bundle, respectively. Telephony
and internet subscribers fell due to
continued fixed to mobile substitution
as well as churn from our copper network.
Our postpaid mobile subscriber
base continued to grow, driven by the
strength of our network and service
quality, but was more than offset by prepaid
subscriber losses due to the continued
competitive intensity
Jamaica continued its mobile subscriber
momentum with particularly
strong growth QTD as mobile subscribers
rose by 56,000, moving above
900,000 in total for the first time. We
posted 21,000 organic RGU additions
with growth across our internet and telephony
services driven by improved
bundling propositions
In the Bahamas we grew subscribers
across mobile, video and internet
products YTD. Momentum is steadily
building in our video RGU base through
penetration of our newly constructed
Fiber-to-the-Home (FttH) network.
Despite the entrance into the market of
our first mobile competitor in November
2016, we were able to grow our
subscriber base by 6,000 QTD through
increased data-led promotional activity
Barbados mobile subscribers were
broadly stable YTD with an improving
trend QTD whereby our base grew
by 3,000 following successful data-led
promotions during the holiday period.
Fixed-line telephony RGUs fell YTD
due to a heightened competitive environment
combined with customer experience
challenges during our ongoing
program to upgrade customers from our
legacy copper to nationwide fiber based
network
Trinidad RGUs were broadly flat
YTD on an organic basis as a video
decline of 12,000 resulting from increased
competition was largely offset
by growth in telephony and broadband

8 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
The Future of Financial Services in the
Caribbean: International Tax Competition,
Globalization and Fiscal Sovereignty
A presentation by Sir Ronald
Sanders On Friday 17 February 2017
At a Conference organised by Goethals
Consulting Corp In Panama On
“Widening the Pathways to Open Societies”
Continued from yesterday’s issue
CARIBBEAN COUNTRIES
COMPLY WITH RULES
All Caribbean countries have had
to make themselves compliant with
the demands of the countries of the
OECD as a group and individually.
In this regard, every Caribbean
country is compliant with the rules
of the Financial Action Task Force
(FATF) on money laundering and
counter terrorism financing.
They are also subject to regular reviews.
In fact, they are more compliant
than the US, which the FATF found to
be non-compliant with ‘entity transparency’
and ‘gatekeeper rules’ in
2006, and which the FATF has chosen
not to evaluate since.
And, as far as the OECD Global
Forum rules on Transparency and
Exchange of Information for Tax Purposes
are concerned, the majority of
Caribbean countries are on their way
to full compliance.
Notably, my own small country,
Antigua and Barbuda, is fully compliant
with the requirement for Common
Reporting Standards (CRS), while the
US has not signed-up to it.
And the US has been the beneficiary
as Trust structures move there to
avoid disclosure.
States in the United States, such
as Delaware, South Dakota, Wisconsin,
Colorado and Arizona, disregard
OECD rules – and are practical tax
havens, demonstrating why the US
has not signed-up to the CRS.
But, it is clear that the doctrine of
‘might is right’ continues; the principle
of transparency applies only to the
weak; and the notion of a level playing
field for competition is a myth.
US NOT ENFORCING TIEA’s
IN THE US
Incidentally, it is worth pointing
out that, in 2015, a number of individual
States of the US adopted legislation
naming Caribbean countries,
including my own, as ‘tax havens’.
When, as Ambassador of my
country to the US, I pointed out to
the Commissioner of the US Inland
Revenue Service that under the Tax
Information Exchange Agreement
(TIEA) which my country signed with
the US in 2000, the US – and all its
States – had access to automatic tax
information and, therefore, the legislation
adopted by Maine, Montana,
Oregon and the District of Columbia
was ill-informed and wrong, and that
he should so advise them, the reply I
received in writing was that “the IRS
plays no role in the legislative process”
of these States.
Nothing was done.
It makes one wonder what is the
point of a TIEA with the Federal
Government of the US, and whether,
instead, we should have negotiated
individually with all 50 States of the
United States.
What is clear is that, though the
IRS won’t enforce the terms of the
TIEA with its own States, it demands
By Sir Ronald Sanders
enforcement, upon pain of penalties,
by Caribbean countries.
Added to all this, over the last two
years, Caribbean countries have been
facing a huge new threat not only to
their financial services, but to their
sustainable development and their
ability to participate in the global financial
and trading system.
THE NEW THREAT – WITH-
DRAWL OF CBR’s
This new threat comes from a decision
by banks in the US and the UK
to withdraw correspondent banking
relations from respondent banks in
the Caribbean.
As Christine Lagarde, the Managing
Director of the IMF, points out:
“Correspondent banking is like the
blood that delivers nutrients to different
parts of the body. It is core to
the business of over 3,700 banking
groups in 200 countries”.
Without correspondent banking
relations, Caribbean countries cannot
cont’d on pg 9

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 9
cont’d from pg 8
pay for the goods and services that
they buy from the US and the UK,
including medical and education services.
They also cannot receive payments
for tourism or remittances from their
diaspora that sustain the well-being
of the poorest and most vulnerable in
their societies.
The consequences of this should
be obvious, since the US and the UK
are the Caribbean’s biggest trading
partners.
As I speak, the majority of banks
across the Caribbean have lost their
correspondent banking relations with
US and UK banks.
They have had to find expensive
alternatives that have pushed up the
price of bank transactions and the cost
of doing business.
Already heavily-burdened, open
economies in the Caribbean are now
faced with additional costs to import
goods and services from the US and
UK, and to receive payments for their
own goods and services.
It is not clear how long these alternative
arrangements will last before
US and UK banks shut them down
under the present dispensation.
And what is the present dispensation?
Frightened by the huge fines and
forfeitures with which they are threatened,
particularly by regulators in the
US, and conscious of the branding
of the Caribbean as a ‘high risk area’
for financial services, banks that have
done business and made profits in the
region for over a century, are taking
the view that the risk is not worth the
rewards of the business.
But what is the risk?
No bank or other financial institution
in the Caribbean has been a party
in any of the cases of money laundering
or tax evasion prosecuted in the
US or the UK.
It should be patently clear that the
withdrawal of correspondent banking
relations from the Caribbean is not
due to any lack of compliance with
the anti-money laundering, counter
terrorism financing or tax evasion
rules of the OECD countries, including
the US.
One is left to speculate, therefore,
as to the real reason.
An incongruous side note to this is
that the World Bank has warned that
around 50% of adults in the world’s
poorest households are unbanked – in
other words, they have no access to
financial institutions.
The World Bank says that it is
“scaling up support to reach an additional
billion people”.
But, while it is doing that, 15 million
people in the Caribbean are at risk
of being unbanked by the withdrawal
of correspondent banking relations.
And, the response of the pre-Donald
Trump administration to what
should be an obvious wrong was that
the Caribbean – already more compliant
than the US with FATF and
OECD rules – must strengthen their
anti-money laundering and counter
terrorism financing regimes.
That response demonstrates that
the playing field is anything but level,
and redress for injustice is not a matter
of morality; it is a matter of might.
LOOKING TO TRUMP
It would be helpful if, committed
as it says it is to less regulation, the
Donald Trump government will be
more open to the Caribbean’s argument
that US regulators and correspondent
banks should mitigate rather
than avoid risk, and that, therefore,
US banks should only terminate correspondent
banking relations where
money laundering and terrorism financing
risks cannot be mitigated.
But that is a mere hope; it is not an
expectation.
Nonetheless, it is a proposition
that Caribbean countries collectively
should explore with the Trump administration
as soon as they are able
to do so at all levels.
So, what the future holds for correspondent
banking relations for the
Caribbean is very uncertain.
What is clear is that if the present
trends continue, the region will be in
danger of losing even more sovereignty
over its fiscal and banking affairs.
If the indigenous onshore banks
and offshore banks of the Caribbean
are all deprived of correspondent
banking relations, the region will
be left with only the foreign-owned
banks (mainly Canadian) that may be
prepared to remain because they have
their own headquarters correspondent
relations.
A NEW COLONIALISM
But those banks can then form
cartels that control the means of exchange
in the Caribbean and determine
interest rates, lending policies,
and sectoral investment.
The region will be gripped by a
new form of colonialism and control
– this time by foreign banks.
A responsible international community
should help the Caribbean to
resist this growing cancer; other developing
countries should be in the
forefront of support, for the cancer
can spread to them, as it has already
started in Central America, including
Panama, and Africa.
Incidentally, nothing that I have
said here should imply or suggest
that Caribbean countries ought not to
comply with the rules against money
laundering, counter terrorism financing
and tax evasion that are being set
– albeit not by globally-represented
bodies.
They have to do so, and are doing
cont’d on pg 10

10 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
cont’d from pg 9
so, at very high cost.
For instance, in my own
country, here is a list of the
obligations that we have to
finance:
• The FATF’s rules
on anti-money laundering
and counter terrorism financing;
• The OECD’s common
reporting standards;
• The US FATCA
• Operation of Tax
Information Exchange
Agreements with over 25
countries;
• Operation of Mutual
Legal Assistance Treaties
with almost 90 countries.
In the case of the US
FATCA, small countries in
the Caribbean are paying
for the dubious privilege of
being policemen for the US
Inland Revenue Service.
And, incidentally, the
US has only promised to
provide reciprocal information;
it has not done so and
shows no sign of doing so.
But Caribbean nations –
and all other affected countries
– should strengthen
their advocacy worldwide,
enhance such representation
as they have in the
OECD Global Forum and
at the FATF, and demand
that every OECD country
implements the same rules
they impose on others.
SUMMARY
So, to summarise the
themes of this presentation.
In relation to Globalisation,
the only global rules
are those set by powerful
countries in their own interest.
Fiscal sovereignty as a
right of individual States is
largely ignored and up-ended
by the doctrine of might
is right.
Tax competition has
survived in part so far; but
the OECD countries are unrelenting
in their efforts to
coerce other nations into
mirroring the areas of their
taxation, even though the
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economic imperatives of
nations are vastly different.
WHAT SHOULD CA-
RIBBEAN NATIONS
DO?
What then for the future
of Financial Services in the
Caribbean?
The prospects would be
best served by the formation
of alliances in every
global forum to wrest control
of financial services
matters from the OECD
which represents only a
handful of nations in the
world community.
In the late 1990s, it was
an alliance of Caribbean
nations with Austria, Switzerland,
Luxembourg, the
Isle of Man and Jersey, that
held back the OECD over
its so-called ‘harmful tax
competition initiative’; and
it was the decisive intervention
of the new Republican
government of George W
Bush, before 9/11 and the
Patriot Act, that eventually
pushed back the OECD.
But, since then, the European
jurisdictions retreated
into the fold of the
OECD, and the Obama
administration in the US
strengthened the heavyhand
of regulation and extra-territorial
laws such as
FATCA.
The Caribbean should
now look elsewhere – to
the countries of South and
Central America, including
Panama, and to Africa and
the Pacific where nations
are also subject to coercion,
erosion of fiscal sovereignty
and loss of competitiveness
- to build alliances to
counter the domination of
global rules on tax matters
by a few self-serving nations.
A TRULY REPRE-
SENTATIVE WORLD
BODY NEEDED
The Ecuadorian government
is right - a UN body
is needed.
But not to chase after
imaginary windmills of
falsely-labelled tax havens.
It is needed to create
standards created by representatives
of the entire
world and not by a handful
of elite countries; it is needed
to establish rules that tax
competition, like all other
competition, is good for
global growth; it is needed
to enshrine the principle
that setting levels of taxation
is the sovereign right
of each nation in the context
of its own economic
and fiscal imperatives.
Alliances should also be
sought with groups within
OECD countries that recognise
that high taxation and
coercion of other nations do
not make for a prosperous
world or a peaceful one.
That, to paraphrase
Abraham Lincoln, the
world will not survive halffree,
and half-enslaved.
There would be good
reason for other developing
nations and groups within
OECD countries to join the
Caribbean in such an undertaking.
For, the small are
the bully’s first victim; they
are seldom the last.
Thank you.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 11
Monday’s Sudoku Solution
S U D O K U
CROSSWORD
Across
1. Roof support
5. Entertain
10. Love god
14. Boundary
15. Buffalo
16. Negative reply
17. Young adult
18. Not condensed
20. Moderately slow, in music
22. Guarantee
23. Cooking fuel
24. Endorse
26. Pitcher handle
27. Internet access device
30. Distressed
31. Worship
32. Scottish loch
33. Group of players
37. Compact
38. ____ de toilette
39. Taunt
40. Sycamore or oak
41. Concern
42. Blacksmith’s block
43. Stationed
44. Work dough
45. Chef’s unit (abbr.)
48. Previously owned
49. Goodness!
50. Makes into law
52. Nervous strain
56. Perceived character
59. Flatfish
60. Trickle
61. Courage
62. Lambs’ moms
63. Messes up
64. Leg joint
65. Toward the sunrise
Down
1. Phi ____ Kappa
2. Eve’s home
3. Ripened
4. Zoo
5. Borders on
6. Coal source
7. Neighbor of Mex.
8. Cry loudly
9. Angers
10. Concludes
11. Scoundrel
12. “Phantom of the ____”
13. Passover meal
19. Contradictive contraction
21. Appointed
24. Harpooned
25. Published
27. Sail support
28. Aroma
29. Mete (out)
30. Discomfort
33. Nashville’s state
34. Icicle’s spot
35. China’s continent
36. Join together
39. Captured
41. Tapioca source
43. Cigar stub
45. Concise
46. Scornful expression
47. Document
49. Category
51. Drinking vessels
52. Hammer or screwdriver
53. Dubuque’s locale
54. Bullring cries
55. Treetop abode
57. Hosiery shade
58. Sort

12 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
HOROSCOPE
PISCES (Feb. 19-March 20).
It’s too easy to pass the blame,
and also it takes too long. It
doesn’t matter that it’s not
your fault. Soon after you take
charge and fix it, miraculous
good luck will befall you.
VIRGO (Aug. 23-Sept. 22).
Today’s happening is something
akin to going to a party
and after a long while finally
stumbling upon the most interesting
person in the room,
the unassuming one standing
in the corner for most of the
time.
Today’s weather forecast
Antigua and Barbuda
Overcast with rain showers at
times.
High - 77ºF
Low - 70ºF
Wind: West South West 11 mph
Sunrise 6.29 am; Sunset 6.11 pm
Monday’s Crossword Solution
ARIES (March 21-April 19).
You’ll be reminded that everything
in life is a trade-off.
Nothing comes from nothing.
Each result has origins. Assuming
that you won’t be able
to have it all, what will you
trade for the result you want?
TAURUS (April 20-May 20).
Healthy habits help you find
balance so you can do your
best and be your best. But
when you’re trying to establish
those habits, improvement
may feel very far away. A Pisces
will help you have faith.
GEMINI (May 21-June 21).
Today life is a maintenance
project. To invite future good
fortune, get the oil change,
buy a new air filter for the
home or give some flowers to
your beloved.
CANCER (June 22-July 22).
You will be entranced by
someone’s quirks today. Like
Elizabeth Bennet in Jane Austen’s
“Pride and Prejudice,”
you’ll find that “intricate characters
are the most amusing.”
LEO (July 23-Aug. 22). It’s
the recurring theme of the
week: Patience is power. You
want it now, but it’s going to
happen later — and only if
you commit to doing something
each day toward the goal
(and then keep that commitment).
LIBRA (Sept. 23-Oct. 23).
Living life in the moment can
lead to being joyous. However,
you’ll often find this
much easier when the moment
is something you projected,
planned and endeavored to
make happen.
SCORPIO (Oct. 24-Nov. 21).
The thing you forgot about
will soon catch up with you.
Therefore, don’t worry about
racking your brain to remember
everything you’re supposed
to do. When it’s really
important, it will show itself.
SAGITTARIUS (Nov. 22-
Dec. 21). Move forward. Go
with enthusiasm. If it feels
fake, keep acting it out until
you can wear it more comfortably.
Today the excellent attitude
is required. If you don’t
bring it, you might as well stay
home.
CAPRICORN (Dec. 22-Jan.
19). Friction polishes the gem.
Even so, you’ve had enough
friction lately. You’re ready
to step back from it for a moment;
you’re ready to temper
these character-building trials
with a little perspective and
self-care.
AQUARIUS (Jan. 20-Feb.
18). In order to be totally effective,
you need more facts
and you need more truth. In
other words, don’t let lies and
misinformation keep you from
achieving all the success you
desire.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 13
All members of the Executive of the Antigua and Barbuda
Ex-Servicemen Association are reminded of the monthly meeting,
to be held on Tuesday 21 February 2017 at 5 pm, at the
Association`s Headquarters "Leah House" on Prime Minister`s
Drive. Please be on time or notify the Chairman on 720-0058,
PRO on 721-1970 or the Secretary on 723-3452.
Bring along your picnic blankets and folding chairs and enjoy
a relaxing evening on the lawn watching a movie or just
mingling with a bowl of delicious hot soup at the South Zone
Planning Committee of the Anglican Church's Pre-Lenten
Water Night and Movie on Friday, February 24, 2017 from
6 pm to 9 pm at All Saints Anglican Rectory Grounds, Matthews
Road, All Saints. The contribution is only $10. Patrons
will have a choice of various types of soups. There will
be Hot Dogs, Cupcakes, Popcorn and a bounce castle. Beverages
will also be on sale. Tickets are available from Parish
Priests and members of South Zone Planning Committee.
All registered members of the Antigua Barbuda Amateur
Bodybuilding & Weightlifting Federation please take note
that Election for the post of Vice President will be held on
4th March, 2017 at the ABI Financial Building, 2nd Floor,
Redcliffe Street, St John's, Antigua at 6:00 p.m. sharp.
TO ALL MEMBERS OF THE ANTIGUA AND BARBU-
DA SCOUT ASSOCIATION Notice is hereby given, in
accordance with Section IV(4)(b) of the Constitution, that
the ANNUAL GENERAL MEETING of the Antigua and
Barbuda Branch of the Scout Association will be held at
Government House (located on Independence Avenue) on
Thursday 23rd February 2017 at 5:00 p.m. All Members are
invited to attend and to be punctual. Members are reminded
that subscriptions for 2017 are now due and payable.
All Saints Anglican Church Mothers Unions invites everyone
to its annual Shrove Tuesday Pancake Sale on February
28, 2017 from 3-6pm at the parish hall of All Saints Anglican
Church at the All Saints. The variety of pancakes includes
Dumps Pancakes, Sweet Potato Fritters, Vegetable
Pancakes, Pumpkin Fritters, Plantain Fritters and Sweet Potatoes
& Carrot Fritters. Pancake diiners will also be on sale.
Please be informed that the Sons & Daughters of Willikies, Inc.
will be having a general meeting on Tuesday 21st February,
2017 at 7:30 p.m. at the St Barts Centre. All Sons & Daughters
of Willikies are invited to attend. Do come and participate in the
2017 Reunion discussions.
Do you want to improve your posing techniques? The ABA-
BWF invites all athletes & prospective athletes to a posing
workshop on Saturday 25th February 2017 from 12-4pm at the
Xtreme Health & Fitness Gym. For more details contact us at
268 7640102/7285909.
Event: Breakfast Forum
Date: Thursday 26th January, 2017
Time: 8:30 a.m. – 10:30 a.m.
Venue: Grand Royal Antigua
Speaker: Dr. Didacus Jules, Director General of OECS
Topic: “The Survival of the OCES and Developing
Countries in a Global Economy” to include: 1The effects of
Cuba on the OCES, and 2The de-risking of correspondent
banking services in the OECS and the wider Caribbean by
U.S. Correspondent Banks.
Price: E$150.00
Please contact the Federation’s Secretariat at (268) 462-0247
to register.
Specially invited guest: The Hon. Prime Minister of Antigua
& Barbuda or his Designate from the Ministry of Finance.

14 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
Under 20 Benna Boys to bounce
back in CONCAF Championships
By Marver Woodley
The Antigua and Barbuda
Under 20 Boys will be
looking to bounce back in
the CONCACAF Under 20
Championships after a dismal
start.
The young Benna Boys
who had a rough start with a
3-nil loss to Group A defending
Champions, Mexico on
Friday will look to regroup
and start a fresh.
The squad, fully assembled
only Sunday 12th February,
look a keen bunch and
have been responding well
to the Coaches instructions,
according to the reports and
are eager to make that historic
first eleven to represent
Antigua and Barbuda at this
level.
Technical Director
Rolston ‘Debu’ Williams,
who leads the Coaching staff,
also continues to emphasize
the focus and discipline required
to produce positive
results in this tournament.
They had another opportunity
to show their worth
yesterday afternoon when
they played against Honduras,
with their next match
up slated for Thursday 23rd
against Canada.
The list of players who
will be taking to the field
once again will be Christian
Suttie-Corbett, Kahendi
Jackson, Kenduka Challenger,
Leroy Graham, Denie
Henry, Matthew Hall,
Shalon Knight, Vashami Allen,
Benedict Bowers, Mohammad
Hakeem, Jarmarlie
Stevens, Javorn “Bozo” Stevens,
Luther Wilden, and Jacob
Blackstock.
Along with some new
faces to include DJ Buffonge
of Manchester United/
England, Elliot Webber of
Leicester City/ England, Kalis
Gore of Leicester County/
England and Elijah Jarvis of
Rochester University/USA,
as oversees representatives
while Andre Brown is the
lone national player from
Old Road FC, along with
Minister Max Fernandez’s
son Christian Fernandez of
Oklahoma Wesleyan University/USA
to round off the
roster.
Other members of the
travling team are Rolston
Debu Williams as Technical
Director, George Kajawawa
Warner as Head Coach,
Vorne Pop T James as Assistant
Coach, Malcolm Challenger
and Courtney Francis
as Equipment Managers, Julio
Gonzalez as Physiotherapist,
William Richards as
Trainer, along Cedric Joseph
as Team Manage.
Hoppers prepare for CFU
Club Championships
By Marver Woodley
Green Bay Hoppers will look to continue their efforts of
progression when they begin their 2017 campaign in the Caribbean
Football Union Club Championships
The newly crowned second place winners in the Antigua
and Barbuda Premier Division will be competing in Group A
starting this Wednesday at the Antigua Recreation Grounds.
Hoppers who were Premier Division champions last season
are set to gain some assistance form Cuban coach Dorian
Diaz who has been working along with the Five Islands
Football club along with coach Rolston Felix.
Hoppers will play against Bequia United of St Vincent
and the Grenadines, Racing FC of Haiti and a team from Suriname
form the 22nd to the 26th, with their first encounter
against Bequia United starting at 7:00 p.m.
While in the opener Suriname will face Haiti at 5:00 p.m.
Admissions for the tournament is $10 for adults and $5
for children under the age of 12.

Tuesday 21st February 2017 c a r i b b e a n t i m e s . a g 15
Beach Benna Boys begin their
CONCACAF beach soccer campaign
By Marver Woodley
As the local football season coming
to a close the Antigua and Barbuda
team participating in the CONCAF
Beach Soccer Championships will
look to give it their all as the games
begin.
The team arrived in Bahamas over
West Indies allrounder
Marlon Samuels has been
cleared to resume bowling in
international cricket by the
ICC. Samuels was banned
from bowling at the international
level for 12 months in
December 2015, after his action
was found to be illegal for
a second time in 24 months.
The offspinner’s action
could be reassessed by the
ICC only after the 12-month
period ended, and Samuels
underwent tests on January 29
at the ICC-accredited testing
centre in Loughborough. According
to an ICC release, the
tests revealed the elbow flex
for his offspin deliveries was
within the permitted 15-degree
limit.
If the umpires find issues
with his action going forward,
they can report him again, and
then he will require further
analysis of his action by the
ICC. Umpires will be provided
with images and video
footage of his reworked bowling
action, the ICC said, to
help them judge his action in
games.
Samuels was reported
the weekend following a five-day
camp in Miami to hone their skills
ahead of the games which began yesterday,
following a losing streak in
Barbados at the Barbados Invitational
Beach Soccer Tournament.
The competition which started last
night gave the players an opportunity
ENGLAND - Ben Stokes and Tymal
Mills both believe that their lives have been
changed overnight, after being signed for
record-breaking fees by Rising Pune Supergiants
and Royal Challengers Bangalore respectively
during a dramatic day’s bidding at
the IPL auction.
Mills, who feared his career was over two
years ago when he was diagnosed with a congenital
back condition, has instead been catapulted
to T20 stardom after attracting a bid
of INR 12 crore (USD 1.8 million), the most
ever paid to a specialist bowler, and a remarkable
24 times his base price of USD 74,000.
Stokes, meanwhile, sent the franchises
into a more anticipated frenzy, having been
earmarked as one of the marquee players in
this year’s auction. Nevertheless, his eventual
fee was still a eye-popping 14.5 crore (USD
during the Galle Test against
Sri Lanka in October 2015,
and subsequent tests revealed
he was breaching the 15-degree
limit. That was the third
time Samuels’ action had been
reported; the first instance was
in 2008, when he was called
for a suspect faster ball after
the third Test against South
Africa in Durban. He was later
suspended from bowling
in international cricket but
after remedial work on his action,
was permitted to bowl in
September 2011. Then, once
again, he was reported during
the Mumbai Test against India
in November 2013. Following
tests, he was allowed to bowl
the offbreak delivery but not
his quicker ball.
to begin their campaign on a winning
noted as when they faced Trinidad and
Tobago at the Malcom Beach Soccer
Facility in Nassau Bahamas
The traveling team is currently in
Group C where they will face Trinidad
and Tobago, Guyana and USA in the
competition.
Samuels cleared to bowl in internationals
Samuels last played for
West Indies against Pakistan
on the tour of the UAE in
September-November 2016.
He was left out of the squad
for the tri-series in Zimbabwe
that followed. West Indies’
next assignment is the home
ODI series against England,
starting from March 3. (ES-
PNcricinfo)
Stokes and Mills in shock after
‘life-changing’ IPL auction
2.16 million), the most ever paid to an overseas
signing. It completed an eventful few
days for the Durham allrounder, who was last
week named as vice-captain to Joe Root in
England’s Test side.
“It’s been a pretty incredible week and,
considering you normally have your most
exciting times when you’re playing, it’s been
an amazing and interesting few days,” Stokes
said.
“I set my alarm for 3.30am, got up and
waited about 40 minutes for my turn in the
auction. I was anxious, not really knowing
what would happen.
“I was following it on Twitter, I didn’t
actually see it live. I kept on refreshing my
notifications, I saw people were tweeting and
then I realised that Pune had got me.” (ES-
PNcricinfo)

16 c a r i b b e a n t i m e s . a g
Tuesday 21st February 2017
New horse steals Post-Valentine’s Day Meet
By Marver Woodley filled with joy and excitement
Scrum Pum had been as they proved that other competitors
have what it takes to
dubbed “the new face” following
the recently held post defeat the show stopper Chief
Valentine’s day Meet at the of Staff who has been on a
Cassada Garden Race Track. losing streak recently.
The horse was on magnificent
display stealing the were the First Lady who won
The other show stoppers
crowd following its capture the Norma Prudhom Filly
of the main race of the day Classic with Clair Wilkins
over 5.5 fur longs in a time of in the saddle with a time of
1:05:00 with veteran Jeff Jacobs
in the saddle.
In the other winners were
1:40:58.
With a great turn, out on Ouch who won the 4-furlong
Sunday the newly imported race in a time of 52:33, Boobe
Ally in the F1 and Lower
tall breed dashed across the
distance in all its glory to win 6 furlongs’ category in a time
the A1 and Lower event leaving
Chief of Staff and Mova-
Believe It in the A3 and Low-
of 1:20:85, U Better Better
do in his dust.
er 6.5 furlongs’ category in a
Representatives from time of 1:18:52.
God’s Grace Stable who The next Meet is slated for
Scrum Pum represents was the Easter Monday.
Hoppers secure runners up as ABFA
Premier Division 2016/2017 season ends
By Marver Woodley
Cool & Smooth-AC Delco Glenn’s
Pet Paradise Green Bay Hoppers made
good on their attempts to cinch the
second top spot in the Antigua and
Barbuda Football Association Premier
Division.
Hoppers made the successful journey
following stiff competition from
Sandals INET IMOBILE Grenades
in the last round of Premier Division
matches on Sunday at the Antigua
Recreation Grounds.
Last season’s champions did so by
defeating current title holders Asot’s
Arcade Parham 2-1 at the end of the
allotted 90 playing minutes. With successful
attacks coming from Novelle
Francis Jr. in the 40th minute and
teammate Janiel Marquez in the 72nd
minute.
The win helped propel Hoppers
just one point ahead of Grenades in order
to secure the runners up position.
The lone goal for Parham was from
Hakeem Joseph in first half of the
game at the 24th minute mark.
The Green Bay men ended their
campaign just seven points below
champions Parham with 44 points and
just a point ahead of their nearest rivals
Grenades with 36.
The match up was the final game of
the season to bring the curtains down
on the Associations top local competition
The day begun hours earlier with a
match up against with Tryum and SAP
playing down to the wire to both avoid
the play offs, sadly both teams played
to a nil all draw.
As a result, SAP’s season, has been
extended while Tryum stayed afloat in
the 7th position with 19 points just a
point and a position ahead of SAP.
In the other game of the day, Old
Road defeated Empire 3-2 with successful
double attacks from Stefan
Smith and a single shot from Steve
Broderick the other two goals for Empire
where compliments of Kadeem
Lewis.