CARICOM SG asks Sweden’s help on blacklisting issue

CARICOM SG with the new Ambassador

Secretary-General of the Caribbean Community (CARICOM) Ambassador Irwin LaRocque has urged Sweden to use its position in two major international organisations to highlight the unfair labelling of some of the Community’s Member States as “non-cooperative tax jurisdictions”.

Speaking at the CARICOM Secretariat’s Turkeyen, Guyana headquarters during the accreditation ceremony of Sweden’s news Ambassador to the Community, the Secretary-General said, “as we seek to diversify our economies and build our services sector, some of our Member States, engaged in financial services, have been labelled as “non-cooperative tax jurisdictions”. This is despite the fact that the countries in question are not so designated by the relevant global authorities, such as the Financial Action Task Force and the OECD Global Forum.”

“As a member of the EU and the OECD, Sweden can assist in encouraging these bodies to be guided by the informed position of the relevant global regulatory authorities and desist from their unnecessary seemingly punitive actions,” he added.

The Secretary-General called attention to the decision earlier this year by the European Union Council to screen some CARICOM Member States to determine whether they were co-operative tax jurisdictions using new criteria. “The stated criteria go beyond the generally accepted international tax transparency and accountability standards which our countries have been meeting over the past several years,” he pointed out.

It was extremely onerous for small countries to address different international initiatives which dealt with the same, similar or related subject matter yet stipulated different sets of criteria, he observed. “There appears almost to be a predisposition to blacklisting our countries,” Ambassador LaRocque stated.

He said a major consequence of this blacklisting was the “de-risking” strategies being employed by certain international banks which had resulted in the withdrawal of crucial correspondent banking relationships.

“This particularly affects our indigenous banks and other financial services entities and could lead to the disconnection of our small economies from the global economy and international trade. It’s socio-economic impact would be disastrous, given that remittances which are the main source of income for many of our poorest citizens will be affected,” the Secretary-General said.

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18 Comments

  1. August 19, 2017

    The assumption is that policymakers at the OECD/FATF care about the truth. They do not. They are a cartel of high tax countries that seek only to squash competition in international financial services from small jurisdictions like those in the Caribbean.

  2. Francisco Etienne-Dods Telemaque
    August 18, 2017

    ” the slave mentality exists in many of out people; sad to La Rocque is displaying the slave mentality. ”

    The slave mentality exists in many of our people; sad to say LaRocque is displaying the slave mentality.

  3. Jonathan St jean
    August 18, 2017

    So much for CARICOM leaders pouting out their chests and espousing soverignety of Nations.

  4. UDOHREADYET
    August 17, 2017

    wow Mr doh have face… he’s looking right at them hahahahahahaha

  5. CARICOM passports selling big problem
    August 17, 2017

    SG of CARICOM has said nothing concerning the wanton sale of CARICOM’S passports to all kinds of foreigners. even worse, he has yet to condemn the giving of CARICOM’s DIPLOMATIC passports to criminals and crooks, who have either been arrested, jailed or facing justice for money-laundering, fraud or embezzlement of millions of dollars. The facts and evidence are overwhelming.

    There are several off-shore companies in a few CARICOM countries, Dominica included, that have been doing business quite suspiciously. That must be the reasons why those said countries are closely watched. It is known for a fact that some off-shore companies are set up to conduct all kinds of secret dealings. So Larocque should first monitor and take action against those politicians and bogus firms that establish in some CARICOM countries to carry out illegal acts like money-laundering and so on. But the biggest problem has to do with the Sales of CARICOM passports , ordinary and diplomatic.

  6. Shat Mamaw
    August 17, 2017

    We not on it.. Labourrrrrrrrrrrrrrrrr Labour ka twavay

  7. Anonymous
    August 17, 2017

    Why can’t we check which Caricom countries do not have this problem and must be doing something right. Why can’t we jus emulate them? If they can do it why not we?

  8. Proud Dominican
    August 17, 2017

    Linton the demagogue and damage you are causing our nation is irreversible! Your arrogant, dispecable, and selfish ways is beyond humidity. Your quest for power has blinded your vision. Love the land of your birth and you will be loved in return. The majority of Dominicans have renounce your demagogue. I visited DA last month and you are just an illusion. Living in in VIRGIN ISLANDS for the past 50 years I am proud to call DOMINICA HOME. M

  9. Fake News
    August 17, 2017

    DNO seems to be talking about everything except the breaking news regarding our citizen Francisco Corallo boarding a jet plaine to Rome.

    http://curacaochronicle.com/judicial/francesco-corallo-catania-italy-1960-was-extradited-today-to-italy/

  10. As For ME
    August 17, 2017

    First of all Mr. LaRoque must learn to look people in the eye especially when dealing with ladies. The photo above shows him looking at the breast area to me, and that’s bad. Secondly, which are the two countries that are not in compliance and got unfair labeling? Thirdly, I hope Dominica is not one of them. If, so, why not turn to Russia for help since Skerrit told us that he built a bridge between Russia and the CARICOM countries https://dominicanewsonline.com/news/homepage/news/international-relations/dominica-described-as-russias-very-promising-caribbean-partner/

  11. My brother Ali
    August 17, 2017

    But y didn’t Mr. Laroque use his influence as a Dominican and dlp, to convince Me. Skerrit to not sell / give Passport to the likes of Ng Lap-Seng, Monfared, and Madueke since there was enough information to suggest these people were either wanted or, on the verge of being wanted by international law agencies and that would affect our standing?

    • Missie
      August 17, 2017

      Eat your heart out !

    • August 18, 2017

      You apparently commented on the wrong article because there is not a connection with what you are saying and the thrust of the article. Please find the approoriate article for this comment. :lol:

  12. August 17, 2017

    The so-called Exemplar developed nations have to this day don’t feel that they have any responsibility to deal with undeveloped aspiring nations honestly, their MANTRA continues to be DO AS I SAY , NOT AS I DO, while they exploit and put oppressive measures in place to stifle our development. While we continue to fight among ourselves, these former slave holding developed industrial nations, are sometimes 5 to 10 steps ahead into how we perceive .Bob.D.

  13. anon
    August 17, 2017

    Good move, thanks Irwin.

  14. Malgraysa
    August 17, 2017

    Can the Secretary General be more specific please. His observations intimate that while some of the Caricom member states are “unfairly labelled non-cooperative tax jurisdiction”, others are. Can he please spell out the countries in each category, so we may examine, and if possible remedy any obstacles in order to make them all compliant? I trust he would not be braking any state secrets to mention the countries by name.

  15. IN-Land
    August 17, 2017

    Is the secretary general watching the ambassadors chest instead of her eye? that photo does no justice for the integrity of the SG.

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