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Vincent and the Grenadines, and Trinidad and Tobago. Subsequently, Antigua and Barbuda signed a Short article 98 contract 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 countries forgoing U.S. military support due to the fact that of the ASPA sanction. Trinidad and Tobago, which played a leading role in the establishment of the ICC, has strongly resisted signing a contract, as has Barbados. (For extra info see CRS Report RL33337, Short Article 98 Agreements and Sanctions on U.S. Foreign Aid to Latin America, by [author name scrubbed]) Since of their geographical place, many Caribbean nations are transit countries for drug and heroin from South America predestined for the U.S.

In addition, two Caribbean nations, Jamaica and St. Vincent and the Grenadinesare large producers and exporters of marijuana. Of the 16 countries in the Caribbean region, President Bush in September 2006 designated 4 of them as major drug-producing or drug-transit countries pursuant to annual legislative drug certification requirements: the Bahamas, the Dominican Republic, Haiti, and Jamaica. The President advised the new government in Haiti to enhance law enforcement and the judiciary to bring drug trafficking and criminal activity under control. All 4 designated Caribbean countries are significant transit countries for illicit drugs to the U.S. market, and Jamaica is the largest cannabis manufacturer and exporter in the Caribbean.

The Dominican Republic, a major transit country for both cocaine and heroin, complies carefully with the United States, although the State Department's March 2006 International Narcotics Control Technique Report notes that "corruption and weak governmental institutions stayed an obstacle to controlling the flow of prohibited narcotics" through the country. Jamaican cooperation with U.S. law enforcement companies on counternarcotics efforts is described by the State Department report as excellent in a lot of cases, although it keeps that the federal government needs to more intensify its police efforts and enhance worldwide cooperation. In Haiti, anti-drug efforts have actually been obstructed over the years by weak organizations, poor financial conditions, and political instability.

Lots of other Caribbean countries, while not designated major transit nations, are still vulnerable to drug trafficking and associated criminal activities due to the fact that of their geographic place. In specific, the State Department's March 2006 report maintains that such crimes have the potential to threaten the stability of the small states of the Eastern Caribbean, and to differing degrees, have damaged civil society in some of these nations. Offered the bad outlook for the banana market in the Caribbean, some observers believe that it will be hard to consist of marijuana production unless there is sufficient assistance to diversify these economies far from banana production.

Vincent and the Grenadines is the largest cannabis producer in the Eastern Caribbean. Efforts to punish money laundering likewise constitute a significant part of U.S. How to finance a franchise with no money. anti-drug technique, and ended up being increasingly essential as a counter-terrorist technique in the after-effects of the September 2001 terrorist attacks in the United States. The State Department's list of significant cash laundering countries (also categorized 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 maintains that although Antigua and Barbuda has thorough legislation to manage its financial sector, the nation remains vulnerable to cash laundering due to the fact that the sector is loosely regulated and because of its Internet gaming industry.

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In Belize, cash laundering is thought to happen primarily in the nation's growing offshore financial center. Cash laundering in both the Dominican Republic and Haiti originate from their functions as major drug transhipment points. In the Dominican Republic, financial institutions engage in transactions with cash originated from illegal drug sales in the United States, with carrier and wire transfers the primary techniques for moving the funds. St. Kitts and Nevis, according to the State Department, is at major risk for corruption and money laundering because of the Click here for info high volume of narcotics being trafficked through the nation and since of the existence of Check over here recognized traffickers on the islands.

The FATF evaluative procedure has actually been a major element in Caribbean countries enhancing their anti-money laundering routines. 4 Caribbean nations and one dependent area were on the very first FATF non-cooperative list released 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 countries to enhance their anti-money laundering routines resulted in all of them being gotten rid of from the list by June 2003. The Bahamas and the Cayman Islands were removed 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 country is removed from the list, the FATF continues to keep track of developments in the country to make sure compliance. Some Caribbean officials and others have grumbled that pressure to strengthen and enforce anti-money laundering regimes in the area will have a harmful effect on its overseas monetary sectors. They maintain that the anti-money laundering measures needed have been indiscriminate and constitute an attack on legitimate service carried out in the small monetary sectors of the area. In particular, after the U.S. congressional passage of new anti-money laundering arrangements in the USA PATRIOT Act (P.L. 107-56, Title III), approved in the consequences of the September 11 terrorist attacks, some feared that the more stringent scrutiny of transactions between U.S.

The act's anti-money laundering provisions consist of a prohibition on U.S. reporter accounts with shell banks (banks that have no physical presence Extra resources in the chartering country) and tighter bank record keeping requirements. Some observers preserve that the fortifying of anti-money laundering programs in the Caribbean will have the end outcome of increasing the appearance of the area's overseas financial 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 track record of the Caribbean as being a sanctuary for cash launderers and tax evaders.

In 1983, Congress enacted the Caribbean Basin Economic Recovery Act (CBERA) (P.L. 98-67), the focal point of a more comprehensive U.S. foreign policy initiative called the Caribbean Basin Initiative (CBI) linking Central America and Caribbean countries together under one preferential trade program. The CBERA permitted duty-free importation of lots of categories of products with particular exceptions. The majority of garments and textile products were ineligible under the CBERA, but in the late 1980s imports of garments from CBERA countries that were put together from U.S. elements were eligible for minimized duties. These production-sharing arrangements improved the clothing sectors of several Caribbean Basin nations, consisting of most significantly the Dominican Republic.