Business
729 articles
Antigua and Barbuda Economy Projected to Grow Five Percent in 2026
Director General of Communications Maurice Merchant announced Thursday that Antigua and Barbuda's economy is projected to grow by five percent in 2026, fuelled by construction activity, rising consumer spending and record customs revenues. The government says growing surpluses have already enabled immediate investments, including a EC$2.5 million CT scanner for the Sir Lester Bird Medical Centre.
Government Calls High-Income Status 'Bittersweet' as Antigua Loses Access to Development Funds
The government has welcomed Antigua and Barbuda's classification as a high-income economy by the World Bank, but warns the designation cuts off the small island nation from critical concessional financing and development grants. Director General of Communications Maurice Merchant described the milestone as "bittersweet" at Thursday's post-Cabinet briefing.
Antigua's First LNG Shipment on Track Within 30 Days, Government Confirms
The Antiguan government has confirmed that the country's first liquefied natural gas shipment is expected within 30 days, with an agreement reached between APUA and LNG suppliers and dredging works at Crabs Harbour progressing rapidly. Director General of Communications Maurice Merchant delivered the update at Thursday's post-Cabinet media briefing.
Antigua and Barbuda's Debt-to-GDP Ratio Approaches 60% After Major Chinese Loan Reduction
Antigua and Barbuda's debt-to-GDP ratio has dropped to approximately 60 percent after the government reduced its Chinese loan obligations from over US$300 million to roughly US$120 million, according to Antigua News Room. Director General of Communications Maurice Merchant says the achievement improves the country's ability to secure international financing for future development projects.
Cabinet Freezes Fuel Prices, Reports Sharp Drop in Chinese Debt and Revenue Surge
Cabinet has frozen retail fuel prices, held gasoline at EC$14.50 and diesel at EC$14.25 per gallon, while reporting a sharp reduction in Chinese-funded debt from over US$300 million to roughly US$120 million and a record customs revenue haul of EC$276.85 million for the first half of 2026.
Cabinet Backs Mixed-Use Perry Bay Development and Darkwood Beach Park
Cabinet has endorsed plans to develop the Perry Bay and Keeling Point area into a mixed-use residential, marina, and commercial hub, alongside a public recreational park at Darkwood Beach. Environmental Impact Assessments will be required before either project proceeds.
Customs Revenue Hits EC$276.9M as Antigua Keeps Fuel Prices Among ECCU's Lowest
Antigua and Barbuda's Customs and Excise Division collected EC$276.85 million in the first half of 2026, surpassing the same period last year, as the Government also reported a sharp reduction in Chinese-financed debt and confirmed fuel prices remain among the lowest in the ECCU.
World Bank Classifies Antigua and Barbuda as High-Income Economy
The World Bank has officially classified Antigua and Barbuda as a high-income economy in its July 1 Country Income Classification update, citing a GNI per capita of approximately US$21,380 for 2024. The designation places the twin-island nation among 87 high-income economies worldwide, alongside several Caribbean neighbours.
Antigua and Barbuda Achieves High-Income Status in World Bank Classification
The World Bank has officially classified Antigua and Barbuda as a high-income economy in its latest annual update, with the country's GNI per capita estimated at approximately US$21,380 — well above the qualifying threshold of US$14,375.
ACTIF2026 Postponed Over African Public Health Concerns, Antigua Delegation Affected
The Fifth Annual AfriCaribbean Trade and Investment Forum, which had been scheduled for Basseterre in July 2026, has been postponed due to public health concerns in parts of Africa. Antigua and Barbuda, whose delegation was expected to include Prime Minister Gaston Browne, is among those affected by the delay.
Government Plans Marina, Housing and Commercial Hub at Perry Bay-Keeling Point
The Antiguan government has announced plans to develop the Perry Bay-Keeling Point area into a mixed-use hub featuring a marina, residential housing, and commercial lots. Cabinet has endorsed the vision but requires environmental impact assessments and detailed concept designs before work can proceed.
Antigua and Barbuda Has Lowest Urban Population Share in CARICOM, Report Shows
Antigua and Barbuda holds the lowest urban population share among CARICOM member states at just 24.3%, according to new data from the UN World Urbanization Prospects. The figures reveal wide variation across the region, with The Bahamas recording the highest share at 81.3%.
Antigua and Barbuda Slashes Chinese Debt by More Than Half to US$120 Million
Antigua and Barbuda has reduced its debt to China from more than US$300 million to approximately US$120 million, with the loan for the Sir Lester Bird Medical Centre now fully repaid. The Cabinet credited the achievement to prudent fiscal management, stronger revenue collection and a disciplined approach to debt servicing.
ECAB Ends Aspiring Leaders Scholarship as UWI Five Islands Tuition Goes Free
ECAB is discontinuing its Aspiring Leaders Scholarship after the Government of Antigua and Barbuda announced that tuition at UWI Five Islands Campus will be free for most first-degree programmes. The bank says it will continue to honour its obligations to current scholarship recipient Tajhere Browne.
ABTA Opens Call for Artists as Antigua and Barbuda Art Week Returns in 2026
The Antigua and Barbuda Tourism Authority has launched a call for artists and creatives to participate in the fourth edition of Antigua and Barbuda Art Week, set for November 11–18, 2026. Expressions of interest from exhibitors, venues and event hosts must be submitted by July 30, 2026.
WhatsApp Set to Allow Users to Connect via Usernames, Dropping Phone Number Requirement
WhatsApp is developing a feature that will allow users to connect via unique usernames instead of phone numbers, marking one of the platform's most significant privacy updates to date. According to Antigua.news, the feature is still under development with no official release date announced.
ECCB: Eastern Caribbean Banks Stay Resilient Amid Global Economic Turbulence
The Eastern Caribbean Central Bank reports that commercial banks across the Currency Union remained well capitalised and resilient during the 2025-2026 financial year, with regional economic growth estimated at 2.5% despite significant global uncertainty. The findings are detailed in the ECCB's latest Annual Report, which also outlines key financial reforms and inclusion initiatives planned for the period ahead.
EIA Approves Pearns Point Luxury Villa With Strict Coastal Safeguards
An Environmental Impact Assessment has approved a proposed multi-million-dollar luxury villa at Pearns Point, finding the development environmentally feasible provided strict coastal engineering safeguards, drainage controls and erosion management measures are fully implemented. The 538-page report, prepared by EcoUrban Planning Ltd. on behalf of Ariadine Ltd., identifies storm surge, cliff-edge geology and stormwater management as the project's key challenges.
World Bank Names Achim Fock as New Caribbean Division Director
The World Bank has appointed Achim Fock as Division Director for the Caribbean, where he will oversee the institution's lending, advisory work, and development programs across the region. Fock brings over 25 years of World Bank experience to the role.
LIAT Air Apologises for Flight Delays and Cancellations Caused by Technical Issues
LIAT Air has apologised after technical issues forced aircraft out of service over two days, causing widespread flight delays and cancellations across its regional network. The airline says recovery measures are underway and affected passengers are being rebooked on available services.