Vincent and the Grenadines, and Trinidad and Tobago. Consequently, Antigua and Barbuda signed a Post 98 agreement in September 2003; Belize signed one in December 2003; and Dominica signed one in May 2004. This leaves Barbados, St. Vincent, and Trinidad and Tobago as the three Caribbean nations forgoing U.S. military assistance since of the ASPA sanction. Trinidad and Tobago, which played a leading role in the facility of the ICC, has highly resisted signing an agreement, as has Barbados. (For additional info see CRS Report RL33337, Article 98 Contracts and Sanctions on U.S. Foreign Help to Latin America, by [author name scrubbed]) Because of their geographical location, numerous Caribbean countries are transit countries for cocaine and heroin from South America destined for the U.S.
In addition, two Caribbean countries, Jamaica and St. Vincent and the Grenadinesare big manufacturers and exporters of marijuana. Of the 16 nations in the Caribbean region, President Bush in September 2006 designated 4 of them as significant drug-producing or drug-transit nations pursuant to annual legal drug certification requirements: the Bahamas, the Dominican Republic, Haiti, and Jamaica. The President advised the new government in Haiti to strengthen law enforcement and the judiciary to bring drug trafficking and crime under control. All four designated Caribbean countries are major transit nations for illegal drugs to the U.S. market, and Jamaica is the biggest cannabis manufacturer and exporter in the Caribbean.
The Dominican Republic, a major transit nation for both cocaine and heroin, works together closely with the United States, although the State Department's March 2006 International Narcotics Control Method Report notes that "corruption and weak governmental organizations stayed an impediment to controlling the flow of illegal narcotics" through the country. Jamaican cooperation with U.S. law enforcement companies on counternarcotics efforts is explained by the State Department report as exceptional in many cases, although it preserves that the government requires to additional magnify its police efforts and improve global cooperation. In Haiti, anti-drug efforts have been obstructed throughout the years by weak organizations, poor economic conditions, and political instability.
Many other Caribbean countries, while not designated major transit countries, are still vulnerable to drug trafficking and associated criminal activities because of their geographical place. In specific, the State Department's March 2006 report keeps that such criminal activities have the potential to threaten the stability of the small states of the Eastern Caribbean, and to differing degrees, have actually damaged civil society in a few of these nations. Provided the bad https://beaukgyh748.weebly.com/blog/fascination-about-how-long-should-you-finance-a-car outlook for the banana market in the Caribbean, some observers believe that it will be tough to contain marijuana production unless there is adequate support to diversify these economies far from banana production.
Vincent and the Grenadines is the largest marijuana producer in the Eastern Caribbean. Efforts to crack down on cash laundering help with timeshare likewise make up a significant element of U.S. How long can you finance a used car. anti-drug strategy, and ended up being significantly important as a counter-terrorist method in the consequences of the September 2001 terrorist attacks in the United States. The State Department's list of significant money laundering countries (also classified as "jurisdictions of main issue") consists of six Caribbean countries, Antigua and Barbuda, the Bahamas, Belize, the Dominican Republic, Haiti, and St. Kitts and Nevisand one British Caribbean dependence, the Cayman Islands. The Department of State preserves that although Antigua and Barbuda has comprehensive legislation to regulate its monetary sector, the country remains vulnerable to cash laundering since the sector is loosely managed and because of its Internet gaming market.
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In Belize, cash laundering is believed to take place mostly in the country's growing offshore monetary center. Money laundering in both the Dominican Republic and Haiti come from their roles as major drug transhipment points. In the Dominican Republic, banks participate in transactions with money stemmed from controlled substance sales in the United States, with carrier and wire transfers the main approaches for moving the funds. St. Kitts and Nevis, alternatives to timeshares according to the State Department, is at significant danger for corruption and cash laundering because of the high volume of narcotics being trafficked through the nation and because of the presence of recognized traffickers on the islands.
The FATF evaluative procedure has been a major factor in Caribbean countries enhancing their anti-money laundering regimes. 4 Caribbean countries and one reliant territory were on the first FATF non-cooperative list issued in 2000: the Bahamas, the Cayman Islands, Dominica, St. Kitts and Nevis, and St. Vincent and the Grenadines. Grenada was contributed to the list in September 2001. Subsequent actions by all these nations to enhance their anti-money laundering regimes led to all of them being eliminated from the list by June 2003. The Bahamas and the Cayman Islands were gotten rid of from the list in June 2001; St. Kitts and Nevis in June 2002; Dominica in October 2002; Grenada in February 2003; and St.
Once a nation is gotten rid of from the list, the FATF continues to monitor developments in the country to guarantee compliance. Some Caribbean officials and others have grumbled that pressure to enhance and impose anti-money laundering programs in the region will have a harmful impact on its offshore monetary sectors. They maintain that the anti-money laundering measures needed have been indiscriminate and make up an attack on genuine business carried out in the little financial sectors of the region. In particular, after the U.S. congressional passage of new anti-money laundering provisions in the U.S.A. PATRIOT Act (P.L. 107-56, Title III), approved in the aftermath of the September 11 terrorist attacks, some feared that the more stringent examination of transactions between U.S.
The act's anti-money laundering provisions include a restriction on U.S. reporter accounts with shell banks (banks that have no physical presence in the chartering nation) and tighter bank record keeping requirements. Some observers keep that the fortifying of anti-money laundering routines in the Caribbean will have completion result of increasing the appearance of the area's offshore monetary sectors for genuine service deals. According to this view, such efforts as the FATF evaluative procedure and the more recent anti-money laundering procedures under the PATRIOT Act will help change the reputation of the Caribbean as being a haven for money launderers and tax evaders.
In 1983, Congress enacted the Caribbean Basin Economic Recovery Act (CBERA) (P.L. 98-67), the centerpiece of a broader U.S. diplomacy effort referred to as the Caribbean Basin Effort (CBI) connecting Central America and Caribbean countries together under one preferential trade program. The CBERA enabled duty-free importation of lots of categories of products with specific exceptions. Most garments and fabric products were ineligible under the CBERA, however in the late 1980s imports of garments from CBERA countries that were assembled from U.S. components were qualified for reduced responsibilities. These production-sharing arrangements increased the clothing sectors of a number of Caribbean Basin nations, including most substantially the Dominican Republic.