Browsing: Brexit Caribbean impact 2016

One month after the Brexit vote, Caribbean markets are absorbing the sterling weakness and BOT constitutional uncertainty. ExxonMobil’s Payara discovery in Guyana adds another layer of excitement to the emerging oil economy. Caribbean summer tourism continues to perform strongly despite the global political turbulence.

Two landmark events fell within our June coverage period: the UK voted Leave on 23 June, sending shockwaves through Caribbean British Overseas Territories and sterling-funded buyer markets; and ExxonMobil announced the Liza Phase 1 Final Investment Decision on 29 June, a transformative moment for Guyana and the broader Caribbean investment landscape.

The UK votes on Brexit on 23 June — an event that has not yet happened as this edition goes to press, but whose implications for Caribbean British Overseas Territories and investor flows are already being weighed. The Caribbean tourism summer season opens, and Guyana’s Liza Phase 1 FID draws closer.