2019 was the year of two consequential free-trade agreements involving Latin American and Caribbean countries: USMCA and EU-Mercosur. How much of a positive impact these South-North agreements will have on especially countries in Latin America and the Caribbean, which have been languishing after the commodity boom, is yet to be seen. But they are likely to be more effectual than the South-South agreements that are in place in the region.
New Oil and Gas Discoveries Set to Fundamentally Transform the Economies of Guyana, Suriname and the Wider Caribbean Region
On January 20, reports emerged that the Caribbean nation of Guyana had officially exported its first-ever shipment of crude oil. The one million barrels of sweet crude that were sent to the United States had been produced at the Stabroek Block’s Liza oil field, which thanks to operator ExxonMobil had made history in December by producing the first crude oil in Guyana’s history.
The oil price affects all of us, so its movements are a popular target of speculation. So far in 2019, the oil price has been tracking upward, and oil-market watchers are asking themselves if it could hit $100 per barrel soon. The definitive answer remains elusive, as the multiple and at times conflicting elements that determine the price of oil are in a word: complicated. Stay tuned as OPEC meets in June.
“The 21st century has arrived.” This was the assessment from Venezuelan President Nicolás Maduro in early December, as he officially announced his campaign to launch a national cryptocurrency.
On July 30, Venezuelan President Nicolás Maduro followed through on previously made promises with an election for a new “constituent assembly” that would rewrite the country’s Constitution.
Venezuela isn’t the place to be if you enjoy peace and calm. With daily protests against a government many view as a dictatorship keeping the military on the streets fulltime, and economic metrics such as soaring inflation sending prices through the roof, this oil-rich nation’s central bank has become a master of juggling the few resources it does have to stay afloat.