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In the Philippines, food security is going digital

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In the Philippines, food security is going digital
    • The Philippines’ Walang Gutom Program is using electronic vouchers to reduce hunger, improve diets and support local economies.

MANILA, Philippines – The Philippines reached an important development milestone on July 1, when the World Bank reclassified it as an upper-middle-income country. Its economy has doubled in size since 2010, while reforms have created millions of jobs, reduced poverty and increased fiscal capacity.

Yet the benefits remain uneven. Around 17.5 million Filipinos still live below the national poverty line, while an estimated 55.6 million cannot regularly afford a healthy and varied diet. Rural communities dependent on low-productivity agriculture are among those most at risk of being left behind.

The government’s Walang Gutom – Filipino for Zero Hunger – Program is responding by combining direct food support with nutritional education and livelihood training. Eligible low-income households receive electronic cards loaded each month with ₱3,000 in food credits, equivalent to around USD 50.

The OPEC Fund was among the program’s earliest supporters, providing a USD 500,000 technical assistance grant for the pilot implemented by the Philippines Department of Social Welfare and Development.

OPEC Fund country manager Driss Belamine said: “This is a highly important and impactful project that tackles the twin challenge of food poverty and healthy nutrition. It is a prime example of what sustainable development means, combining quantity – the provision of sufficient food – with quality by helping secure a healthy diet.”

The vouchers are designed to encourage balanced purchases. Beneficiaries may spend up to half of their credits on carbohydrates, up to 30 percent on protein and no more than 20 percent on dietary fibre. Participating vendors record purchases, helping the program assess nutritional compliance and respond to consumer demand.

Households must also attend monthly social and behavioural communication sessions covering nutrition and livelihood skills. The aim is to help families sustain improvements in their diets and food security beyond the period of direct assistance.

The program began with a pilot reaching almost 2,500 households between December 2023 and July 2024. Coverage expanded to 300,000 households by mid-2025 and reached 600,000 in February 2026. The government plans to support 750,000 households by 2027.

An impact analysis co-financed through an OPEC Fund grant found that the incidence of frequent hunger among beneficiaries fell by 20 percent. Nutrition advice delivered through text messages and social media also helped influence shopping and cooking choices, contributing to a 36 percent increase in fruit and vegetable consumption and a 21 percent increase in protein consumption.

The benefits extended beyond participating households. More than 1,300 local retailers and agricultural cooperatives gained from increased demand for their products.

The Asian Development Bank is the program’s lead development partner. Other contributors include Agence Française de Développement, the Japan Fund for Prosperous and Resilient Asia and the Pacific, and the United Nations World Food Programme.

Preparations are now in their final stages for a proposed USD150 million OPEC Fund loan supporting the Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project, known as REFUEL.

The wider rollout will also accelerate the use of digital payment systems in the Philippines. By combining social protection, better nutrition, local economic activity and digital delivery, the program supports both immediate household needs and longer-term development.

Seven OPEC+ countries – JMMC review global market conditions and outlook

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Seven OPEC+ countries – JMMC review global market conditions and outlook

VIENNA, Austria – The seven OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 2 August 2026 to review global market conditions and outlook.

In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in September 2026 as detailed in the table below.

The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024.

The seven OPEC+ countries will continue to hold monthly meetings to review market conditions.

  • The next meeting will be held on 6 September 2026.

Meanwhile, JMMC, comprising Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Nigeria, Algeria and Venezuela held its 67th Meeting via videoconference.

The JMMC reviewed current market conditions and emphasised the essential role of the Declaration of Cooperation (DoC) in supporting the stability of global energy markets. In this context, the Committee highlighted the critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy.

It also expressed concern regarding attacks on energy infrastructure, noting that restoring damaged energy assets to full capacity is both costly and takes a long time, thereby, affecting overall supply availability. Accordingly, the Committee stressed that any actions undermining energy supply security, whether through attacks on infrastructure or disruption of international maritime routes, increase market volatility and weaken the collective efforts under the DoC to support market stability for the benefit of producers, consumers, and the global economy.

The JMMC reviewed the crude oil production data for the months of May and June 2026 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).

The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.

The JMMC will continue to closely monitor market conditions and retains the authority to convene additional meetings or request an OPEC and non-OPEC ministerial meeting, as established at the 38th ONOMM held on 5 December 2024.

  • The next meeting of the JMMC (68th) is scheduled for 4 October 2026.

How Santander Brasil and Eco Invest mobilise private capital at scale

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How Santander Brasil and Eco Invest mobilise private capital at scale
    • IDB Invest provides financing to Banco Santander Brasil to support sustainable agriculture, land restoration efforts, and resilient infrastructure.

By Marcia Groszmann

WASHINGTON, USA – The Eco Invest Brasil Program recognises a simple reality: public capital alone is insufficient to finance Brazil’s resilient development. What is required is an environment that allows private investors to participate on reasonable terms – reducing risk, aligning incentives, and creating scale.

Eco Invest combines blended finance, currency hedging mechanisms, and competitive auctions to attract long-term private investment for sustainable agriculture, land restoration, and resilient infrastructure. Banks and other financial institutions compete for access to public funds, with bids evaluated primarily on their ability to mobilise the largest volume of private capital.

Banco Santander Brasil, one of the largest financial institutions in the country, participated in the first two Eco Invest auctions. While the bank has broad access to funding, the challenge lies in mobilising long-term foreign capital at scale for Eco Invest’s priority sectors.

To address this challenge, IDB Invest provided a loan to Banco Santander Brasil, with a tenor of up to five years and a maximum amount of $150 million, while mobilising an additional $400 million from international B-lenders with shorter tenors. By acting as Lender of Record, IDB Invest extends its preferred-creditor status and contractual framework to private investors – thereby significantly enhancing risk mitigation and investor confidence.

How Eco Invest auctions channel capital through banks to projects  

Eco Invest’s blended finance auctions operationalise a simple mechanism: public catalytic capital is allocated competitively to local financial institutions, which then mobilise private capital (including external funding) and on-lend to eligible projects, subject to defined eligibility, safeguards, monitoring, and reporting requirements.

Mobilising additional private capital, not replacing it

Santander’s funding profile is robust, supported by a large deposit base and diversified market access. As such, the value of this transaction lies not in providing access to capital but in mobilising additional private investment and extending tenors.

The A/B loan enables Santander  

  • Secure longer-term funding aligned with the cash-flow profile of resilient assets;
  • Mobilise private international capital at scale under Eco Invest requirements;
  • Strengthen its participation in Eco Invest auctions, where mobilisation ratios are a key success metric.

In practice, the transaction demonstrates how multilateral capital can be used not to crowd out private funding, but to catalyse it – bridging the gap between investor appetite and project needs.

Aligning finance with impact

The proceeds of the A/B loan will support financing for projects eligible under Eco Invest, including:

    • Sustainable agriculture and livestock;
    • Restoration and productive use of degraded land;
    • Resilient infrastructure aligned with national development priorities.

At a higher level, the transaction contributes to:

    • Mobilising private capital for aligned investments;
    • Supporting Brazil’s land restoration goals across multiple biomes;
    • Demonstrating a replicable model for scaling sustainable finance in emerging markets.

A model for emerging markets

As highlighted by the OECD, Eco Invest offers a replicable model for emerging economies seeking to mobilise foreign capital while managing currency risk. The Santander A/B loan shows how this framework can be operationalised through well-designed financial intermediation that combines public and private resources in a disciplined, market-oriented way.

For IDB Invest, this transaction reflects our Originate-to-Share approach: originating complex, high-impact transactions, structuring them to meet market requirements, and then bringing in private investors to scale impact.

In doing so, we help turn investment priorities into bankable projects – and demonstrate that with the right structures, private capital can play a decisive role in financing resilient growth.

IDB Invest – PBS supports digital services in Latin America and the Caribbean

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IDB Invest – PBS supports digital services in Latin America and the Caribbean

BRIDGETOWN, Barbados – IDB Invest announced a financing of up to USD 30 million for Productive Business Solutions Limited (PBS), a leading technology solutions provider headquartered in Barbados, to expand access to digital services and support the adoption of technology across Latin America and the Caribbean.

PBS operates in 24 countries, delivering integrated engineering and technology solutions that enable organizations to accelerate digital transformation. Its portfolio spans information technology, networking and communications, security systems, print and imaging, managed services, and AI-enabled solutions.

The financing will support PBS’s growth strategy and help expand access to innovative solutions that enable businesses and public institutions across the region to improve efficiency, modernise operations, and strengthen service delivery.

“The Caribbean has companies with the experience and ambition to scale across the region, and this is a clear example,” said Darryl White, managing director for the Caribbean region at IDB Invest. “Our role is to provide the financing and partnership they need to expand their reach, strengthen their operations and deliver greater impact across the markets they serve.”

“This financing agreement reinforces our long-term strategy of investing in the capabilities, expertise and partnerships needed to meet the evolving technology needs of the region. It strengthens our ability to better serve our customers and partners, broaden access to innovative technology solutions, deliver long-term value, and create lasting impact in the communities we serve,” said Pedro M. Paris, Group CEO of PBS.

Digital transformation is essential to improving competitiveness and productivity across the region. By supporting PBS’s expansion, the project is expected to help more companies and institutions participate in the digital economy, while contributing to productivity gains, job creation, and greater access to technology in Caribbean and Central American markets.

The financing consists of up to USD 30 million through a secured loan and committed revolving credit facility. The financing will provide flexible funding to support working capital needs and growth investments.

Young Indian ‘cockroaches’ reclaim democratic space

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Young Indian ‘cockroaches’ reclaim democratic space

By K.S. Dakshina Murthy

Widespread agitation by Indian students against exam corruption and mismanagement since 6 June 2026 has tested the limits of the country’s receding democratic space. Satirically calling themselves the ‘Cockroach Janata Party’ after a Supreme Court judge disdainfully referred to them as ‘cockroaches’, tens of thousands of mainly college and school age youngsters and young professionals took to the streets. Some went on hunger strike for several weeks at the high-profile protest platform, Jantar Mantar, in Delhi.

Their main demand was the resignation of Human Resources Minister Dharmendra Pradhan, who managed the Education portfolio. He eventually had to resign. The protesters held him accountable for the leak of exam papers, which resulted in the suicides of 27 students, deeply distressed by the way the exams were mismanaged. These protests were against the backdrop of the rapid substantial expansion of tertiary education in India, but opportunities for graduates in quality, well-paid jobs have failed to keep pace. (Approximately 370 million of India’s population are aged between 15-29. Of these, nearly 40 percent of 15-25-year-olds are unemployed; for 25- 29-year-olds the unemployment figure is approximately 20 percent; and, only a small percentage manage to secure stable paid jobs within a year of graduation.) The series of test paper leaks across various prestigious exams, including NEET (for entrance into medical colleges) and CUET (for admission into the various universities), challenged prime minister Narendra Modi’s government in a rare show of spontaneous outrage against the inability of education officials to hold entrance exams.

In democratic societies, nationwide agitation like that of the students is not unusual. What has made the current protests stand out as a test case is because the protests are occurring at a time when Indian state institutions are under pressure to conform to the wishes of the Hindu nationalist Bharatiya Janata Party (BJP) government; public dissent is frowned upon – with sometimes serious consequences, including incarceration.

At the same time, many of those who criticise the government have been pressured by enforcement agencies; critics have been jailed pending trial for extended periods, underlining the process is the punishment for dissent. Many have, in fact, been acquitted of all charges after languishing in jail for months, if not years. Top opposition leaders, such as the former chief minister of Delhi, Arvind Kejriwal, have been arrested and jailed before being freed after the courts found no misdemeanour against them. Another oft-quoted case is of Umar Khalid, a student at Jawaharlal Nehru University, who played an active role in opposing the government’s move to amend the Citizenship Act (CAA) that discriminated against giving citizenship to undocumented Muslim migrants from neighbouring countries. Khalid was arrested for his alleged involvement in the Delhi riots in September 2020, and has since languished in jail, waiting for trial.

For many in India, the way elections have been conducted since independence in 1947 have been a source of pride. Despite issues with governance,  corruption and increasingly constrained freedom of media, elections were always regarded as above board – free and fair. However, the latest round of elections to state Assemblies, including in Bihar, West Bengal, have raised profound doubts over the fairness of polling. Under the Special Intensive Revision (SIR) of electoral rolls hurriedly undertaken in Bihar and then in West Bengal in 2025-6, over 4.5 million – particularly Muslim minorities  – were disenfranchised on various grounds. While it is obvious that the names of the dead, those who have changed their addresses, registered in multiple places or migrated from their homes need to be delisted, many others who have voted in the past and who have appropriate documentation, were removed the electoral list. The numbers were large enough to affect the outcome of the elections.

Since the start of SIR, in the last year alone, approximately 60 million names have been removed from the voters’ list across ten states. Such a mass disenfranchisement is unprecedented in the 79-year history of independent India. In past decades, the Election Commission (EC), originally designed as an autonomous institution, had largely been free from governmental interference. This appears to be no longer the case. There are scores of instances showing that the current EC has complied with the Modi government’s wishes. In July 2026, in an unusual move, the opposition parties approached the Supreme Court, alleging manipulation of elections and the partisan conduct of the Election Commission on the grounds that ‘democracy was in jeopardy’.

Given these extraordinary developments, one would have expected the media in India to call out the BJP government to halt the steady march towards autocracy. Barring exceptions in legacy print and digital media who seem to be maintaining editorial independence, the rest – in the electronic media – by and large appear to follow government diktat. Pejoratively termed the ‘godi’ media (‘lapdog media’), mainstream television channels unabashedly support the government. It is therefore no surprise that India’s ranking in the World Freedom Index has dropped sharply from 151/180 in 2025 to 157/180 in 2026. There are structural and financial reasons for this decline: historically the Indian media has been dependent on government and corporate advertising. Criticism of the government risks advertising revenue. The same is true for corporate sponsorship. Smaller, independent media outlets are reliant on reader/viewer subscription to avoid government or corporate control. Some succeed for a time, but these are far and few. As a consequence, in the post-2026 poll narrative, aided by a compliant media, the failings of the BJP have been ignored and instead a glowing picture of victory is headlined. Meanwhile, the massive delisting of eligible Indian citizens from the electoral process has been overlooked. The Supreme Court’s advice to the currently disenfranchised voters is to re-register to vote in the next elections.

This is the context of the Cockroach Janta Party’s agitation against blatant corruption and an increasingly repressive government which treats political opposition and criticism as enemies of the state.

Where is the Commonwealth, given the evident backsliding of democracy? India is a prominent member, and the supposed ‘largest democracy’ in the association. But India should not be immune to being held to the standards of the Commonwealth Charter.

– K. S. Dakshina Murthy is Consulting Editor for The Federal, India.

[This article was shared with the Round Table by the author. Views expressed in articles do not reflect the position of the editorial board.]

The struggle for justice, dignity, and equality remains unfinished

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The struggle for justice, dignity, and equality remains unfinished

“As we honour the sacrifices of those who resisted enslavement and relentlessly demanded emancipation, we draw inspiration from their vision of freedom rooted in justice, human dignity and equality.”

By CARICOM Reparations Commission

On Emancipation Day 2026, the CARICOM Reparations Commission joins the people of the Caribbean, Africa and the global African diaspora in honouring the courage, resistance and unyielding determination of our ancestors, who fought for freedom against one of history’s most pernicious and enduring systems of oppression. As we come together to celebrate their triumph over racialised chattel enslavement, we are reminded that the struggle for justice, dignity, and equality remains unfinished.

This year’s observance has particular significance as it comes in the wake of the adoption by the United Nations General Assembly on 25 March 2026, of the landmark Declaration of the Trafficking of Enslaved Africans and Racialised Chattel Enslavement of Africans as the Gravest Crime Against Humanity.  This historic recognition affirms what descendants of the victims of enslavement, scholars and advocates have long asserted: that the transatlantic trafficking of Africans and the system of racialised chattel enslavement was a brutal dehumanising crime whose devastating consequences continue to shape the social, economic, political, and developmental realities of nations and peoples across the Caribbean and the African diaspora. The Resolution strengthens the moral and political foundation for reparatory justice and marks an important milestone in the international community’s acknowledgement of historical truth.

This Emancipation Day also heralds the 25 Anniversary of the Durban Declaration and Programme of Action, adopted at the 2001 World Conference Against Racism, Racial Discrimination, Xenophobia and Related Intolerance. The Durban Declaration remains the most comprehensive international framework for confronting the enduring legacies of enslavement, colonialism and systemic racism.  As the international community prepares to commemorate this important anniversary, the CARICOM Reparations Commission calls upon all states to renew their commitment to the full implementation of the Durban Declaration and Programme of Action and to resist efforts to diminish its enduring relevance.

For the Caribbean Community, Emancipation Day is inextricably linked with the movement for reparatory justice. Political freedom, though hard won, did not erase the profound structural inequalities created by centuries of exploitation. The wealth extracted from enslaved African labour financed the development of European empires while leaving Caribbean societies to contend with underdevelopment, economic dependency, and persistent racial disparities. These historical injustices continue to impede sustainable development and demand meaningful redress.

The CARICOM Reparations Commission has therefore relaunched the expanded CARICOM Ten Point Plan for Reparatory Justice: A Manifesto for the Coming Enlightenment, to serve as a framework for former colonizing states, private corporations, academia, the church, civil society and all people of goodwill, to engage in honest dialogue, acknowledge historical responsibility and embrace reparatory justice as an essential pillar of reconciliation, shared human progress and the coming enlightenment.

As we honour the sacrifices of those who resisted enslavement and relentlessly demanded emancipation, we draw inspiration from their vision of freedom rooted in justice, human dignity and equality. Their struggle compels us to continue building societies free from racism, discrimination, and exclusion. Together, let us transform remembrance into resolve and justice into reality for present and future generations.

Why Caribbean households remain under pressure after oil prices ease

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Why Caribbean households remain under pressure after oil prices ease
    • Caribbean households are paying more for fuel and electricity even as oil markets calm, signaling that the effects of a supply shock outlast the disruption that caused it.

GENEVA, Switzerland – Oil prices have returned to near pre-Hormuz Strait crisis levels. But for economies importing both fuel and food, the disruption does not end when markets settle. It persists through freight and energy costs that weigh most on small and vulnerable importers.

“Resilience to these shocks is unevenly distributed; small, import-dependent economies face the highest costs and the fewest alternatives,” said Pedro Manuel Moreno, acting secretary-general of UNCTAD.

UNCTAD’s latest monitor shows oil shocks

Fuel-importing economies with limited fiscal space are hit hardest, with small island developing states among the most exposed. Of 75 vulnerable economies analyzed, 65 are net oil importers, home to nearly 1 billion people.

With as much as 50% of food being imported through fuel-dependent logistics in some of the Caribbean islands, energy costs can rapidly feed into the price of essentials. As food prices are already up from 55 to 60 percent since 2018, households have little room to absorb another rise.

How pressures hit households

UNCTAD draws on WFP/CARICOM 2024-2026 survey of 13,686 people across ten Caribbean countries.

Initially, effects appear limited. Reports of “not having enough food” rose from 22.1 to 22.9 percent , while “going to bed hungry” increased from 21.0 to 21.6 percent . These modest increases warrant caution rather than reassurance as food-security indicators lag that of prices.

Household costs, however, rose sharply after April 2026, spreading across electricity, food, gas and transport.

Reports of perceived higher electricity prices increased from 41 to 55 percent  and that of gas prices jumped from 38 to 57percent . Reports on perceived food prices also increased by 7percent , while that of transport increased by 4 percent . These combined increases in essential goods affect household budgets which will limit disposable income for food security.

Burden falls unevenly across the region

Jamaica reports the largest perceived increases, then Suriname and Saint Vincent and the Grenadines, while Guyana and Grenada are more muted. As exposure reflects each country’s food and energy system, not household circumstances, the most affected economies can be targeted for support ahead of future shocks.

CARICOM heads of government have linked regional food security to the Middle East crisis and are addressing fuel, freight and energy costs under Vision 25 by 2025+5.

Measures introduced now, while the shock is felt through higher costs, are more effective than those taken once food insecurity rises. The timing of the support should consider the lag time to avoid leaving households exposed at the point of greatest strain.

Commonwealth dialogue brings generations together to inspire the next generation of leaders

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Commonwealth dialogue brings generations together to inspire the next generation of leaders

LONDON, England – More than 40 young leaders from across the Commonwealth gathered in London for a special edition of the Commonwealth Leadership Series last week to explore what leadership should look like in a rapidly changing world.

The event, hosted by the Commonwealth Youth Council on 24 July 2026, in partnership with the John A. Kufuor Foundation, at the Commonwealth Secretariat’s headquarters in London, also brought together leaders from different generations to promote effective leadership as a catalyst for good governance and socio-economic development.

At the centre of the conversation was H.E. John Agyekum Kufuor, former president of Ghana, who drew on his experience in public office to share practical lessons with young leaders as they shape their own leadership journeys. Speaking to the young leaders in the room, he urged them to embrace technology and change while keeping people at the heart of their purpose.

“In an era defined by artificial intelligence, climate disruption, democratic pressure and economic uncertainty, leadership is no longer measured only by title or office. It is measured by judgment, service and the ability to hold ambition together with empathy”.

Youth leadership in action

For the Commonwealth, the President’s message comes at an important moment. More than 60 percent of the Commonwealth’s 2.7 billion people are under 30. Across the 56 Commonwealth countries, young people are building businesses, defending democracy, responding to climate shocks and using digital tools to solve local problems. In her welcome remarks, deputy Commonwealth Secretary-General (Corporate) Tania Baumann spoke about the value of bringing young people into decision-making spaces early, linking youth leadership directly to the Commonwealth’s work on democratic, economic and environmental resilience.

She said: “Young people are central to our Strategic Plan. Our responsibility is to create the conditions in which their leadership, ideas and action can grow — through access, opportunity, practical support and genuine influence on the choices we make together.”

Building on the call for greater youth participation, Joshua Opey, chairperson of the Commonwealth Youth Council, said:

“Young people must take a front seat, building on the experiences of those who have led before us, and making the most of the connections and opportunities the Commonwealth creates.”

Building tomorrow’s leaders today

The event also featured remarks from former prime minister, Gordon Brown of the United Kingdom and a leadership masterclass led by John Mark Williams, CEO of The Institute of Leadership, alongside Dr Pascal Brenya, director of the Kufuor Scholars Program at the John A. Kufuor Foundation.

Designed as a practical capacity-building session, the speakers challenged participants to move from discussion to action. Young leaders were invited to identify a real leadership challenge, reflect on the skills needed to address it, and consider how networks, mentorship and structured support could help turn ideas into meaningful impact.

Looking ahead

Participants reflected on the event in different ways, but a common message emerged: meaningful leadership grows when experience and ambition meet in genuine conversation.

Some young leaders said the dialogue showed the value of intergenerational exchange, while others said their biggest takeaway was that youth leadership is not a promise for the future but a force already shaping the present.

Later this year, the Commonwealth Youth Forum (CYF) will take place from 2 to 4 November 2026 at the University of the West Indies Five Islands Campus in St John’s, Antigua and Barbuda alongside the 2026 Commonwealth Heads of Government Meeting (CHOGM).  Under the theme ‘Investing in Youth Agency – Co-Creating Pathways Towards Shared Prosperity’, young leaders will explore how they can contribute as partners in building a resilient Commonwealth.

Outlook for Barbados’ economy – updated July 2026

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Outlook for Barbados’ economy – updated July 2026

By Central Bank of Barbados

BRIDGETOWN, Barbados – The bank expects the economy to grow by approximately 2 percent in 2026, at the lower end of the 2 to 3 percent range published at the end of the first quarter. Growth of 1.4 percent in the first half came in below the pace that range assumed. Tourism, construction, and transportation each fell short of projection, and together they account for the difference.

External conditions weighed on activity during the first half, with the effects concentrated in the second quarter. The war raised freight and energy costs, disrupted shipping routes, and lifted the cost of capital. Sharply higher airfares and reduced seat capacity weighed on the United States market in particular, and long-stay arrivals held broadly level rather than expanding as projected.

Reaching approximately 2 percent for the year requires second half output to expand by approximately 2.5 percent relative to the second half of 2025. The forward indicators support an acceleration of that order. Forward bookings for the July to December period stand approximately 3.7 percent ahead of the same period of 2025, with the United Kingdom pacing 10 percent ahead and Caribbean and European markets also higher, while the United States market remains slightly behind. Planned seat capacity for July to December stands 3 percent above the corresponding period of 2025, with increases of 13 percent from Canada, 9 percent from the United Kingdom and Ire land, and 5 percent from both Europe and the Caribbean, partly offset by an 8 percent decline from the United States.

Ongoing work at the Pierhead Development, Coverley Residences, Atlantic Breeze, and Vistara Residences, together with the planned start of several new projects such as One Carlisle and the Afreximbank Trade Centre, should strengthen construction activity during the second half. The resulting increase in investment should support business and other services, wholesale and retail trade, transportation, and employment. Improved rainfall and the Ministry of Agriculture, Food and Nutritional Security’s crop escalation programme should also support selected food crops, although weather conditions, planting decisions, and the availability of quality planting material remain risks.

External pressures nevertheless temper the pace of that recovery. Freight, energy, and capital costs remain elevated, and further softening in the United States market or slower delivery of planned investment would hold the acceleration below the level this projection assumes.

The global outlook remains subject to elevated uncertainty amid persistent geopolitical tensions and trade policy shifts. The IMF’s July 2026 World Economic Outlook projects global growth of 3 percent in 2026 before recovering to 3.4 percent in 2027. For Barbados, external developments influence economic activity through tourism demand, commodity prices, freight costs, and supply chain reliability. A further escalation in geopolitical tensions or trade restrictions could weaken external demand for tourism, raise imported costs, disrupt supply chains, dampen business confidence and investment, and increase uncertainty around external financing.

Domestic inflation should rise modestly as global input costs strengthen, although targeted Government measures should contain the pass through. The Bank projects the 12-month moving average inflation rate within a range of 2 to 3 percent in the near term. Higher food, energy, and freight costs create the upward pressure. Targeted Government measures should limit the domestic effect, particularly on energy prices. Further geopolitical escalation presents the main upside risk to this projection.

Tourism earnings and other external inflows should keep international reserves strong and adequate. The first-half increase in current transfers reflected corporate tax receipts, including flows associated with the global minimum tax regime, which may not recur at the same pace. Higher fuel imports, weaker tourism demand, delays to investment inflows, and geopolitical disruption present the principal risks to the external position.

BERT 2026 and the precautionary Stand-By Arrangement provide a framework for maintaining fiscal discipline, protecting external buffers, and advancing reforms that support investment and productivity. The arrangement offers insurance against external shocks without drawing on Fund resources, while the programme anchors the primary balance path required to continue reducing public debt. Continued progress on tax administration and public sector governance reforms should support that path.

Continued economic growth should support lending and asset quality, while strong capital and liquidity protect the system against shocks. Improvements in borrower repayment performance should preserve loan quality, and capital and liquidity positions provide the capacity to absorb shocks. The recent rollout of BiMPay should improve payment efficiency, broaden access to electronic payments, and support financial inclusion over-time.

Strong buffers give Barbados the capacity to withstand shocks, but the full-year growth outcome will depend on faster investment execution, stronger productivity, and improved traded performance sector. Prudent fiscal management and the timely delivery of public and private investment will determine how much of the projected acceleration materialises.

Lovely Coffee

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Lovely Coffee

By Tony Deyal

Drinking coffee with caffeine has been linked with improved mood and a lower risk of depression in some groups. Drinking 3 to 4 cups of coffee a day is linked to a lower risk of stroke in some studies. And coffee may help protect against cancers of the mouth, throat and digestive system. I didn’t know that, but when I was three, I was drinking it. What happened was that my mother took me to her parents’ place to spend a few weeks with the family and their two other children, each of whom had their little ones. My boor Grandma had to do all the work while her children were taking care of theirs. While the food was simple, coffee was different. Grandma had to provide three types for the family: hot chocolate, green tea and coffee. However, they looked the same- lots of milk. I never liked chocolate at home. I hated green tea. So, I drank coffee because it had more milk than the other two, the chocolate and green tea. And since then, even though I, like my father and other family, had coffee every morning with milk, I had mine with only a little sugar and even less milk.

Over the many years, as I am close to 81 on August 10, and I have lived in many places, especially in the Caribbean, US, and Canada, I have learnt, read and sometimes joked about coffee. Some seen as wild history. For example, the great Pope Clement VIII blessed coffee in 1,600 after priests called it “Satan’s drink.” Then the Ancient Turkish law allowed women to divorce husbands who failed to provide daily coffee. Brazil’s coffee empire began in 1727 via seeds smuggled inside a hidden bouquet. Then Mecca, Italy and Sweden all banned coffee at various points throughout history and, worse of all, King Charles 11 banned coffeehouses in 1675, fearing citizens were plotting a revolution! There were and are others like, “Drinking roughly 70 to 100 cups of coffee rapidly can cause a fatal overdose! Fortunately, I’m still more like underdosed. Better than that, while a lot of people drinking roughly 70 to 100 cups of coffee rapidly can cause a fatal overdose, I sometimes, especially in weddings, can ask for more.

What I learnt was that coffee is the second most traded commodity on Earth, trailing only crude oil. I tried but at my age I can’t go after crude oil. Worse, I have no intention of bothering with Cambridge scientists who invented the first webcam just to check if their coffee pot was full. I can understand, though, that over 125 million people globally depend on the coffee industry for their livelihood. Then I heard that the oldest cat on record, Creme Puff (38 years), drank coffee every morning. Obviously, I would hide mine if my home cat tried to grab mine. Or worse, honeybees get addicted to caffeine in flower nectars, which improves their pollination efficiency. In my house, I have three dogs, and that is why there are no honey or any other kind of bees around. What made me feel good was that, “Coffee drinkers have up to a 65% lower risk of developing Alzheimer’s disease.” I actually grabbed a coffee to celebrate.

More than that, I went and looked for jokes to make us laugh to support our coffee. Actually, I heard some of them when I was three, like when my Mother told me if I continued to drink coffee they would send me to jail. What I read a few years later was, “Why did the coffee file a police report?” It got mugged! Then there was, “Why don’t coffee beans ever get into trouble?” Because they are always grounded; “What do you call sad coffee?” Depresso.; “How does Moses make his coffee?” He-brews it. “Why don’t coffee beans ever get into trouble?” Because they are always grounded. What we learnt over the years was that Coffee is not a bean; it’s a seed! Europe coffee isn’t from Europe but comes from Central and South America, East and West Africa and even parts of Asia and the Pacific. Then dark roasts don’t have more coffee; Starkduks coffee is not burned, Decaf is good, coffee does not stunt your growth, coffee doesn’t sober you up. This last one ends the rest and puts you to sleep sometimes on the road.

On the other hand, those who feel even better when they share and laugh loudly with jokes like one by AJ Lee, “”Never trust anyone who doesn’t drink coffee.” As one of the others said: “I will drink to that!” Then American writer, Cassandra Clare said, “As long as there was coffee in the world, how bad could things be?” and Terri Guillemets, an American quotation anthologist, responded, “Coffee is the best thing to douse the sunrise with.” She also made it clear, “I appreciate my mornings to the tune of coffee.” And from far away from an Australian actor and singer, “To me, the smell of fresh-made coffee is one of the greatest inventions.” Most like he took another one from the guys who liked what he said. There were others like Hanoré de Balzac. “As soon as coffee is in your stomach, there is a general commotion. Ideas begin to move…” Then  Charles Maurice de Talleyrand, the former president of the council of ministers of France, made it clear, “Black as the devil, hot as hell, pure as an angel, sweet as love.” To end it at that level was Louisa May Alcott, an American novelist best known for writing the Little Women, and perhaps she needed it with, “I’d rather take coffee than compliments just now.”

I suppose that from my early days and in other places where I worked in the World Bank, PAHO and the West Indies cricket, I also liked writing and joking, especially language. This is why I loved T.S. Eliot, the poet and essayist, and his comment, “I have measured out my life with coffee spoons.” Then there was the renowned Islamic scholar and preacher, Sheikh Abd al-Qabor, making it clear, “No one can understand the truth until he drinks coffee’s frothy goodness.” The great Napoleon Bonaparte, Former Emperor of the French, clearly needed support with, “Strong coffee, much strong coffee, is what awakens me. Coffee gives me warmth, waking, an unusual force and a pain that is not without very great pleasure.” Johann Sebastian Bach (1685-1750) put it in a brilliant comment for himself, “Without my morning coffee I’m just like a dried up piece of roast goat.” And to end it with Star Trek: Voyager, “Coffee, the finest organic suspension ever devised.”

*Tony Deyal loved Abraham Lincoln, 16th US president, who said, “If this is coffee, please bring me some tea; but if this is tea, please bring me some coffee.”

Strong El Niño ahead, UN weather agency warns

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Strong El Niño ahead, UN weather agency warns

NEW YORK, USA – As much of the world faces grapples with above normal temperatures and major rainfall changes, the UN Meteorological Organization (WMO) warned on Friday that El Niño, a powerful climate pattern shaping global weather, will intensify starting next month.

Why it matters

  • A strong El Niño is developing and expected to strengthen during August through October, bringing powerful weather events around the world, according to WMO’s latest monthly global seasonal climate update;
  • Above-normal temperatures expected worldwide;
  • Wetter conditions expected in some regions while drought risk increases in others;
  • Tropical Atlantic sea surface temperatures projected to remain warmer than average;
  • Forecasts provide a window for early action and support decision-making.

Scorching heat domes, record hot seas

Multi-model forecasts indicate expected anomalies related to seasonal-average sea-surface temperature to exceed 2.9°C in key monitoring regions, according to WMO.

“El Niño is strengthening, adding fuel to a planet already on fire with scorching heat domes, apocalyptic wildfires and record hot seas,” UN Secretary-General António Guterres said.

“El Niño is not just on our doorstep; it is inside the house and turning up the heat, and this is only a warm-up act.”

Flames fanned by fossil fuels

He said fossil fuels are “fanning the flames of this crisis”, and expansion must stop. “More coal, oil and gas will lead to a more combustible future,” he warned.

“Unless we act to protect people and tackle the root cause of the crisis, the dangers will become deadlier still. The warm-up act is over. We cannot afford to wait for the main event.”

Mobilising to save lives

The WMO is stepping up coordination, climate information services and early warning to help those affected prepare for potential impacts, including governments, humanitarian agencies, such climate-sensitive sectors as agriculture and health as well as vulnerable communities.

“El Niño is one of the most closely monitored climate phenomena in the world, but forecasts in themselves do not prevent hazards, people do,” said WMO secretary-general Celeste Saulo.

She said this El Niño is developing against the backdrop of unprecedented ocean heat and rising temperatures, but governments and communities have a window of opportunity to anticipate risks and act before impacts unfold.

“The decisions we make today will shape the impacts we experience tomorrow,” she said, adding that WMO and its members are committed to ensuring that credible and relevant climate information reaches those that need it most.

Trinidad and Tobago becomes first Caribbean country to advance a national roadmap for communicable disease elimination

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Trinidad and Tobago becomes first Caribbean country to advance a national roadmap for communicable disease elimination

WASHINGTON, USA, (PAHO) – Trinidad and Tobago has become the first country in the Caribbean to begin developing a national roadmap to accelerate the elimination of communicable diseases, supporting the country’s efforts to strengthen health systems, protect public health, and advance toward the elimination of more than 30 communicable diseases and related conditions.

Developed with technical support from the Pan American Health Organization (PAHO), the roadmap brings together government leaders, health professionals, technical experts and development partners around a shared strategy to sustain past achievements while accelerating progress against diseases that continue to affect the population, including HIV, viral hepatitis, tuberculosis, syphilis, leprosy and cervical cancer.

“The development of this national road map provides us with an opportunity to critically examine where we are, identify gaps, strengthen existing systems and determine the actions required to accelerate progress. This process will allow us to better understand our current capacities address bottlenecks and define strategic priorities that align with international best practices while responding to the unique needs of Trinidad and Tobago,” said Dr Lackram Bodoe, minister of health, Trinidad and Tobago.

The roadmap is part of PAHO’s Disease Elimination Initiative, which aims to eliminate more than 30 communicable diseases and related conditions in the Americas by 2030. Rather than addressing diseases individually, the Initiative promotes an integrated approach by strengthening health systems, improving health information and surveillance systems and laboratory capacity, expanding access to quality health services, addressing social and environmental determinants of health, and reinforcing governance and sustainable financing.

Trinidad and Tobago enters this new phase from a position of strength. The country has maintained its malaria-free status since 1965 and has also sustained the elimination of poliomyelitis, measles, rubella, congenital rubella syndrome, neonatal tetanus and lymphatic filariasis through strong immunisation programs, robust surveillance systems and sustained public health leadership.

The new roadmap seeks to build on these achievements by strengthening synergies across disease programs, integrating surveillance and laboratory systems, improving case detection and management, and identifying shared solutions to accelerate progress toward multiple elimination targets simultaneously.

“Trinidad and Tobago is building on its public health achievements and choosing to move forward with an integrated vision for the future,” said Dr Rhonda Sealey-Thomas, assistant director of PAHO. “This roadmap reflects a national commitment to accelerate disease elimination through stronger health systems, coordinated action and sustained partnerships. PAHO is proud to support the country in translating that commitment into lasting public health impact.”

The key components of the roadmap were developed during a two-day high-level workshop convened by the ministry of health with support from PAHO. The workshop brought together representatives from the ministry of health, regional health authorities, technical experts, academia, international partners, and other stakeholders to identify priority diseases for elimination, define timelines for achieving additional elimination milestones, analyze barriers slowing progress, and agree on practical interventions to overcome these challenges.

These actions will focus on four strategic areas: integrated service delivery, stronger surveillance and health information systems, addressing the social and environmental determinants of health, and improving governance and sustainable financing.

The initiative also comes at a critical time for the region. Recent measles outbreaks have highlighted the need to sustain high vaccination coverage, strong laboratory networks and rapid response capacities to protect the Americas’ hard-won disease elimination achievements.

“Trinidad and Tobago has demonstrated leadership in communicable disease elimination for decades,” said Dr Gabriel Vivas Francesconi, PAHO/WHO representative for Trinidad and Tobago. “By becoming the first Caribbean country to develop a national disease elimination roadmap, the country is once again leading by example. This roadmap provides a clear, integrated and evidence-based framework that will help translate today’s commitments into measurable improvements in people’s health.”

PAHO will continue supporting the implementation of the roadmap through technical cooperation focused on strengthening surveillance and laboratory systems, enhancing clinical capacity, developing national guidelines and facilitating access to regional expertise and best practices.

IMF – Guyana 2026 Article IV Mission

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IMF – Guyana 2026 Article IV Mission

GEORGETOWN, Guyana – An International Monetary Fund (IMF) staff team, led by Lusine Lusinyan, held discussions virtually and in Georgetown for the 2026 Article IV Consultation during July 20–31, 2026. The team met with finance minister Dr Ashni Singh, Central Bank Governor Dr Gobind Ganga, minister of parliamentary affairs and governance Gail Teixeira, attorney-general and ninister of legal affairs Mohabir Anil Nandlall, and other senior officials, representatives from the private sector, banks, labor unions, and other stakeholders.

At the conclusion of the visit, Lusinyan issued the following statement:

Strong growth

Guyana’s economy continues to expand at a very rapid pace, supported by robust oil and non-oil activity. Real GDP grew by over 19 percent in 2025, following average growth of nearly 40 percent during 2023–24. Oil production exceeded expectations and surpassed 900,000 barrels per day by the end of 2025—an impressive 35 percent increase over one year, with similar volumes recorded in the first half of 2026. Encouragingly, broad-based growth in the non-oil economy continued at about 14 percent, with construction remaining the largest driver, and agriculture, mining, and manufacturing also contributing meaningfully. These trends broadly continued in the first half of 2026 though some sectors were affected by heavy rainfall. Robust growth was also reflected in a stronger labor market, with unemployment down at 6.2 percent by the end of 2025. Average inflation was contained to 3.3 percent in 2025 but edged up by mid-2026, reflecting higher global energy and food prices.

The fiscal and external positions improved in 2025, and credit growth remained strong. The overall fiscal deficit narrowed by nearly two percentage points to 5.5 percent of GDP in 2025. Large public investment continued, and oil revenue more than offset the decline in non-oil revenue. The non-oil primary deficit amounted to one-third of non-oil GDP. Public sector credit helped finance the fiscal deficit, and private credit supported economic activity, especially through household credit and business lending across the real sector. Strong foreign exchange (FX) demand, especially from private investment with heavy import content, kept the FX market tight. At the same time, rising oil production and a decline in oil-related service imports strengthened the external position, which is assessed to be broadly in line with the level implied by fundamentals and desirable policies in 2025.

Prudent macroeconomic policies continue to support growth. Building on the Low Carbon Development Strategy 2030, the government’s five-year development plan maintains a welcome focus on economic diversification, resilience, and sustainability. Continued accumulation of oil revenue in the Natural Resource Fund (NRF) is helping build external and fiscal buffers, while large investments in physical and human capital are supporting non-oil growth and improving outcomes, especially in health and education. Tight monetary conditions have helped maintain price and exchange rate stability, while fiscal measures have cushioned near-term price pressures. These policies, together with continued strengthening of governance frameworks, have helped sustain macroeconomic stability, support growth, and advance national development priorities. Available indicators do not point to clear signs of overheating or resource-driven competitiveness pressures. But strong wage growth and wage-based real exchange rate indicators warrant close monitoring.

Outlook and risks

The economic outlook remains highly favourable. Oil production is expected to continue expanding, and the non-oil economy is projected to grow by about 7 percent on average over the next five years as the government continues its ambitious plans to address infrastructure and developmental needs. The external position is expected to remain strong over the medium term, supported by higher oil production as new fields come onstream and existing projects mature. High oil prices strengthen the outlook for export earnings and the fiscal position going forward. As oil operators complete cost recovery, a larger share of oil revenues will accrue to Guyana through higher NRF inflows.

Risks around the near-term outlook are broadly balanced in the context of elevated global uncertainty. On the upside, further oil discoveries would continue to improve growth prospects, and construction growth and strong public investment may support higher-than-expected short-term non-oil growth. Higher oil prices would further improve fiscal and external accounts but could also intensify overheating pressures, leading to real exchange rate appreciation beyond the level consistent with a balanced expansion of the economy, with oil price volatility adding to fiscal risks. Adverse climate shocks may also negatively impact the economy.

Fiscal policy

Staff commends the authorities for sustained prudent fiscal policies. The fiscal deficit is expected to widen somewhat in 2026 due to social transfers and electricity subsidies but improve in 2027 given the one-year lag in the NRF withdrawal rule. If oil prices remain persistently high, a larger share of additional oil revenue should be saved, in line with the economy’s absorptive capacity. Public spending should continue to prioritise productivity-enhancing projects and support the most vulnerable. Policy efforts should remain focused on strengthening monitoring of spending outcomes and oversight of public enterprises. Staff urged that consideration be given to improving the targeting of subsidies. Over time, broad price-mitigating measures should be gradually phased out, as they can weaken price signals. The authorities’ prudent borrowing strategy continues to support debt sustainability, with the risk of debt distress assessed as low, as in the previous assessment.

Reflecting strong commitment to fiscal responsibility, policies have supported rapid accumulation of substantial NRF balances and one of the lowest debt-to-GDP ratios in the hemisphere. The budget documents already provide detailed medium-term projections, performance indicators, and macroeconomic assumptions, offering a robust foundation for further developing medium- and long-term fiscal guideposts as the economy continues to transform. To help guide the balance between spending now and the needs of future generations, the non-oil primary balance could serve as the main operational target, strengthening gradually over the next decade to a level consistent with a chosen long-run anchor. During the transition period, public spending should continue to be aligned with peer-country levels of Sustainable Development Goal-related expenditure—taking into account the higher cost of public service delivery in a low population density country such as Guyana. Staff will continue to engage with the authorities on how best to calibrate medium- and long-term fiscal guideposts to Guyana’s development needs and absorptive capacity.

Monetary and exchange rate policy

Monetary policy should remain consistent with the stabilised exchange rate arrangement and price stability. Policy continues to operate within a reserve money targeting regime, with liquidity management—primarily through FX operations—helping moderate base money growth. Broad money growth should remain broadly aligned with nominal non-oil GDP, with liquidity managed through FX operations, as needed, in addition to greater use of treasury bills and reserve requirements. Additional tightening would be warranted if demand pressures intensify, credit accelerates, or exchange rate pressures emerge.

Over time, as Guyana’s economy expands and diversifies, incomes rise, and FX demand persists, the monetary framework should be strengthened by activating the interest rate channel, deepening financial markets, improving macroprudential tools, and gradually scaling back broad price-mitigating measures. These steps would enhance monetary transmission and further support macroeconomic stability. The current stabilized exchange rate regime remains appropriate, and over the medium term, as policy frameworks mature and the economy diversifies further, consideration could be given to allowing greater exchange rate flexibility to facilitate macroeconomic adjustment and enhance resilience to shocks.

Financial stability

The banking sector remains well capitalised, with robust liquidity buffers and improving asset quality. Stress tests continue to suggest that banks remain resilient under reasonable adverse scenarios. Staff welcomes the authorities’ continued vigilance in safeguarding financial stability, including concentration risks. Developing a comprehensive macroprudential framework, including through technical assistance, would further help safeguard financial stability, and enhance policy formulation and implementation. Rapid growth in the housing market, largely supported by public housing investment, warrants continued close monitoring, and developing a real estate price index would strengthen the financial stability toolkit. Data collection on corporate and household balance sheets would further support risk monitoring and banking supervision, and cybersecurity standards should be further enhanced as digitalisation of services expands.

Governance

Staff welcomes ongoing efforts to further enhance public sector transparency and service delivery, supported by digitalisation. The authorities are advancing digital solutions across key public services, including interoperability of management information systems. Timely audits of available financial accounts continue, supported also by efforts to strengthen internal audit practices. Staff acknowledges the authorities’ efforts to resolve outstanding cost-oil audits, including through arbitration. Given their fiscal and governance implications, resolving these audits in a timely manner remains important. Improving timeliness of financial accounts of public enterprises and agencies also remains a priority. The authorities are encouraged to continue strengthening audit capacity, especially in oil and gas sector. As public expenditure expands rapidly, ongoing efforts to further strengthen public procurement practices and ensure consistent compliance with the procurement framework will help safeguard spending quality, supported by the new centralised digital platform.

Staff welcomes the authorities’ strong commitment to strengthening AML/CFT and anti-corruption frameworks. The authorities are pursuing a comprehensive approach to AML/CFT, including steps to address vulnerabilities identified in Guyana’s 2024 Mutual Evaluation Report by the Caribbean Financial Action Task Force and preparing new AML legislation along with modernising the relevant legislative frameworks. Staff commends the authorities’ efforts to strengthen oversight and transparency of the gold mining sector, with the planned risk assessment of extractive industries expected to contribute to identifying remaining gaps and informing further reforms. While some beneficial ownership information is already publicly available, facilitating public access and enhancing monitoring and enforcement of reporting requirements would further support transparency. Continued strengthening of the Integrity Commission, including compliance with and enforcement of asset declaration requirements, will also reinforce the broader anti-corruption framework.

Climate, energy, and diversification

Guyana remains at the forefront of market-based forest conservation while advancing its transition to a cleaner and more cost-effective energy mix. Staff welcomes the authorities’ strong commitment to strengthening resilience to climate-related risks and protecting biodiversity. Efforts to bolster resilience to natural disasters are advancing through investments in sea defenses and drainage infrastructure alongside investments in more climate-resilient agriculture. The Gas-to-Energy project is expected to significantly reduce reliance on fuel-based power generation by 2027, with limited use subsequently as demand expands, lowering energy costs and supporting long-term competitiveness.

Efforts to strengthen human capital, expand job opportunities, and enhance food security remain central to the authorities’ broader diversification strategy. The Local Content framework continues to support private sector development, while higher personal income tax thresholds are helping to encourage labor force participation. Reforms to address labor shortages should continue, including to strengthen skills and better align the workforce with the needs of a rapidly expanding economy. Ongoing initiatives to boost agricultural production and reduce regional food import dependence will support export diversification and enhance food security.

Economic statistics

Staff welcomes the authorities’ continued efforts to strengthen official statistics to better reflect the economy’s transformation. These efforts include enhancing external and real sector statistics, including with technical assistance, as well as resuming regular labor force surveys and publishing preliminary census results. While progress continues in these areas, advancing work on updating national accounts, price, and external sector statistics remains a key priority. Together with maintaining regular updates to the labor force survey and the planned rollout of a new household budget survey, these efforts are important to strengthen the information base for policymaking and assess the impact of policies on economic growth and living standards.

University of Guyana announces transitional management arrangements following completion of vice-chancellor’s term

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University of Guyana announces transitional management arrangements following completion of vice-chancellor’s term

GEORGETOWN, Guyana – The University of Guyana today announced that the contractual term of Professor Paloma Mohamed-Martin as Vice-Chancellor concluded on 31 July 2026, bringing to a close seven years of service as the University’s principal academic and administrative officer.

On behalf of the University Council, Chancellor and Chair of Council, Sir Ronald Sanders, expressed appreciation to Professor Mohamed-Martin for her service and commitment to the University during her tenure. “The University Council thanks Professor Mohamed-Martin for her seven years of stewardship of the University of Guyana and wishes her every success in her future endeavours,” Sir Ronald said.

To ensure continuity of leadership and the uninterrupted conduct of the University’s academic, administrative and financial affairs, the University Council has established a Transitional Management Team to oversee the day-to-day operations of the University until a new vice-chancellor is appointed.

The Transitional Management Team will be chaired by Professor Stafford Griffith, Professor at the University of Guyana and Professor Emeritus of the University of the West Indies. Professor Griffith has had a distinguished career in higher education across the Caribbean, having served in a number of senior leadership positions at The University of the West Indies, including Interim Pro Vice-Chancellor and Principal of the Five Islands Campus, regional director of the office for online learning, director of the school of education, and deputy dean of the Mona Campus. He has also held senior regional appointments with the Caribbean Examinations Council (CXC) and has served on numerous national and regional commissions, committees and boards.

Joining him on the Transitional Management Team is Dr Diana Devika Gobin, deputy vice-chancellor (finance and administration) of the University of Guyana. Dr Gobin has more than 18 years of experience in higher education and has served in a range of academic and administrative leadership positions, including assistant dean of the faculty of social sciences.

She has played a significant role in the University’s financial administration, academic development and institutional governance, and holds a doctor of education in leadership and innovation, an international MBA in innovation and entrepreneurship, and a Bachelor of social science in management.

The third member of the Transitional Management Team will be the incoming chair of the Committee of Deans, who is expected to be elected next week.

The Transitional Management Team will manage the University’s day-to-day affairs under the oversight of the Chancellor and the University Council until the appointment of a new vice-chancellor.

The search for the University’s next vice-chancellor is continuing. Following a comprehensive and rigorous international search process, four candidates have been shortlisted and are proceeding through the final stages of consideration by the University Council.

Sir Ronald Sanders said: “The Council is committed to ensuring a smooth and orderly transition in the leadership of the University while maintaining continuity in its academic mission, governance and administration. I have every confidence that Professor Griffith, Dr Gobin and the incoming chair of the Committee of Deans will provide the steady and experienced leadership necessary during this interim period. At the same time, the Council remains fully engaged in completing the search for the University’s next vice-chancellor through a rigorous and transparent process.”

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