As part of the foreign relations of Suriname, the country is a participant in numerous international organizations.
The Caribbean Community is an intergovernmental organisation that is a political and economic union of 15 member states throughout the Americas and Atlantic Ocean. They have primary objectives to promote economic integration and cooperation among its members, ensure that the benefits of integration are equitably shared, and coordinate foreign policy. The organisation was established in 1973, with its four founding members signing the Treaty of Chaguaramas. Its primary activities involve:
Since the island country's independence in 1966, the economy of Barbados has been transformed from a low-income economy dependent upon sugar production into a high-income economy based on tourism and the offshore sector. Barbados went into a deep recession in the 1990s after 3 years of steady decline brought on by fundamental macroeconomic imbalances. After a painful re-adjustment process, the economy began to grow again in 1993. Growth rates have averaged between 3%–5% since then. The country's three main economic drivers are: tourism, the international business sector, and foreign direct-investment. These are supported in part by Barbados operating as a service-driven economy and an international business centre.
The Eastern Caribbean Central Bank (ECCB) is a supranational central bank that serves Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines, all members of the Organisation of Eastern Caribbean States (OECS) that use the ECCB-issued Eastern Caribbean Dollar as their currency. The ECCB was established in 1983, succeeding the British Caribbean Currency Board (1950–1965) and the Eastern Caribbean Currency Authority (1965–1983). It is also in charge of bank supervision within its geographical remit.
The Inter-American Development Bank is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribbean. Established in 1959, the IDB supports Latin American and Caribbean economic development, social development and regional integration by lending to governments and government agencies, including State corporations.
The British West Indies dollar (BWI$) was the currency of British Guiana and the Eastern Caribbean territories of the British West Indies from 1949 to 1965, when it was largely replaced by the East Caribbean dollar, and was one of the currencies used in Jamaica from 1954 to 1964. The monetary policy of the currency was overseen by the British Caribbean Currency Board (BCCB). It was the official currency used by the West Indies Federation The British West Indies dollar was never used in British Honduras, the Cayman Islands, the Turks and Caicos Islands, the Bahamas, or Bermuda.
Petrocaribe was a regional oil procurement agreement between Venezuela and Caribbean member states. The trade organization was founded on 29 June 2005 in Puerto La Cruz, Venezuela during Hugo Chavez' presidency. Venezuela offered member states oil supplies on a concessionary financial agreement. Petrocaribe has been part of the "pink tide" in Latin America seeking to achieve post-neoliberal development in the region. In 2013 Petrocaribe established links with the Bolivarian Alliance for the Americas (ALBA) aiming to go beyond oil trade and promoting economic cooperation. The deal fell apart by 2019 after dwindling oil production, corruption, and oil price fluctuations took their toll.
CIBC FirstCaribbean International Bank (FCIB) is a financial services company based in Barbados and the Caribbean subsidiary of the Canadian Imperial Bank of Commerce (CIBC). The bank was founded in 2002 as FirstCaribbean International Bank through the merger of the Caribbean operations of Barclays Bank and CIBC, and in March 2006 both CIBC and Barclays announced that Barclays wished to exercise their option to exit the Caribbean venture completely resulting in CIBC gaining majority-control of the bank. In June 2011, it was announced the bank would be renamed CIBC FirstCaribbean Bank "to be more closely aligned to the CIBC brand, while still maintaining the FirstCaribbean name and local identity." The majority of the bank's revenues are generated by its operations in Barbados, the Bahamas and the Cayman Islands.
The 'Economy of the Caribbean' is varied, but depends heavily on natural resources, agriculture and travel and tourism.
The CARICOM Single Market and Economy, also known as the Caribbean Single Market and Economy (CSME), is an integrated development strategy envisioned at the 10th Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) which took place in July 1989 in Grand Anse, Grenada. The Grand Anse Declaration had three key Features:
- Deepening economic integration by advancing beyond a common market towards a Single Market and Economy.
- Widening the membership and thereby expanding the economic mass of the Caribbean Community.
- Progressive insertion of the region into the global trading and economic system by strengthening trading links with non-traditional partners.
Sir Courtney Newlands McLaurin Blackman, KA was a Barbadian economist, international business consultant, and diplomat. He served as the first Governor of the Central Bank of Barbados from 1972 to 1987. At the time of his appointment, he was the youngest central bank governor in the world.
Canada–Caribbean relations are the long established relationships between Canada and the many states of the Caribbean or West Indies. These ties have been on-going throughout the history of both regions. Initially these relations were based on the policies of European colonial powers in the Americas. More recently, both Canada and most of the Caribbean islands have achieved self-government, putting their relations into a different phase. CARICOM diplomats have referred to Canada as a '"special friend" of the Caribbean at the regional and bilateral levels.' Ties exist in such plurality of organs such as: the Commonwealth of Nations, the Organisation internationale de la Francophonie, Organization of American States, ParlAmericas, the United Nations, and the World Trade Organization.
The Caribbean Free Trade Association (CARIFTA) was organised on 1 May 1968, to provide a continued economic linkage between the English-speaking countries of the Caribbean. The agreements establishing it came following the dissolution of the West Indies Federation which lasted from 1958 to 1962.
CAF - development bank of Latin America and the Caribbean, formerly the Andean Development Corporation, is a development bank whose mission is to promote sustainable development and regional integration in Latin America and the Caribbean, through the financing of projects of the public and private sectors, the provision of technical cooperation and other specialized services.
Relations between Barbados and China began on 4 September 1967 with Barbados recognizing the People's Republic of China from 30 May 1977, just over one decade after the eastern Caribbean island nation's independence from the United Kingdom.
Barbadian–German relations are foreign relations between Barbados and Germany. Barbados is represented in Germany through its embassy in Brussels, (Belgium) and Germany is represented in Barbados from its regional embassy for the Eastern Caribbean in Port of Spain, and an Honorary Consul in Christ Church. Barbados and Germany formally established diplomatic relations on 14 March 1967.
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa). According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank."
Paul Barnaby "PB" Scott is a prominent Caribbean businessman, investor, and philanthropist. He currently serves as Chairman, and CEO, and is the principal shareholder of the Musson Group of Companies, a diversified Group with controlling stakes in public and private companies operating in more than 30 countries throughout the Caribbean, Central American region, and the Pacific.
Jamaica first joined The World Bank Group (WBG) on the 21st of February, 1963, when the island nation became a member of The International Bank for Reconstruction and Development (IBRD), which lends to middle and low income nations. This occurred the same month as Jamaica joining the International Monetary Fund (IMF), and one year after declaring political independence. Since joining The World Bank, Jamaica has received in excess of $3 billion US Dollars in loans and grants. Jamaican Minister of Finance, Donald Sangster, led the Jamaican delegations to World Bank and International monetary Fund meetings between 1963 and 1966, while also serving as Governor of the World Bank and IMF. Sangster would go on to serve briefly as the Prime Minister of Jamaica.
Canada is one of the original members of the International Monetary Fund, having joined it on December 27, 1945. It has a quota of 11,023.9 million SDRs and 11,698 votes, 2.31% of the total IMF quota and votes, ranking the 9th of all. Canada has been represented on the IMF Board of Governors by Minister of Finance Chrystia Freeland since 2020. Canada elects an executive director on the fund's Executive Board with Antigua and Barbuda, Barbados, Ireland, Bahamas, Belize, Dominica, Grenada, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines. Philip John Jennings is the elected alternate director. Canada is the only G7 country that represents both lenders and borrowers at the IMF.
