AGP Executive Report
Last update: 36 minutes agoDigital Payments Milestone: Barbados officially launched BiMPay, the national instant payment system, with PM Mia Amor Mottley completing the first transaction; the Central Bank says it will cut delays in interbank transfers and support a more digital economy, while early rollout figures show about 12,000 transactions worth roughly $4m and ongoing fixes to email code delivery for some Gmail users. Public Services Integration: The National Insurance and Social Security Service (NISSS) is set to join BiMPay in the second phase, enabling pensioners and contributors to access funds digitally via lodgement and a web-based sign-up process. Tax Compliance Guidance: The Barbados Revenue Authority issued five guidance notes for multinational groups facing the June 30 top-up tax compliance deadline, warning of penalties and 1% monthly interest for late payment. Local Economy & Jobs: Barbados’ tourism sector hit record highs, with 727,310 long-stay visitors and 817,950 cruise arrivals reported for the year, and the “Tourism 3.0” strategy shifting toward higher visitor spend and greater local participation. Regional Tech & Investment: Sixteen Caribbean tech ventures were selected for the Caribbean STEM Startup Challenge, with Barbados’ Ministry of Innovation backing the event, while the IFC confirmed a US$15m investment in a Caribbean debt fund targeting SME financing. Energy & Industry: Barbados Light and Power marked 115 years with community and staff events, and the fisheries sector mourned the sudden death of Chief Fisheries Officer Dr Shelly-Ann Cox, a key figure in the blue economy.
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