The Rasheed Griffith Show

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Can you imagine the catastrophic consequences of your country being blacklisted internationally? Join Rasheed as he chats with Marla Dukharan, a top Caribbean economic advisor, as we unpack the intricacies of this reality many Caribbean nations face. They dare to question the motives and fairness of international entities like the Financial Action Task Force and the OECD and how their blacklisting practices have devastatingly derailed these countries' reputation and development targets.

Their discussion is not all gloom; they thoroughly examine the negative impacts of such blacklisting and brainstorm potential strategies that small countries can adopt to fight back. They look closely at how blacklisting has crippled insurance companies, led to the removal of the Schengen visa exemption, and interfered with the functioning of aid and concessionary financing. An intriguing section of our discussion uncovers a hopeful UN resolution spearheaded by the African Union. The resolution aims to empower low and middle-income countries with decision-making power over global tax affairs. As our conversation concludes, Marla and Rasheed reflect on the vitality of financial stability, economic growth, and the necessity for global collaboration.

Please note the abbreviations used in the episode:

• EU - European Union
• OECD - Organisation for Economic Co-operation and Development
• FATF - Financial Action Task Force
• AML - Anti-Money Laundering
• CFT - Criminal Financing of Terrorism
• FT - Financial Times
• FIU - Financial Intelligence Units
• CARICOM - Caribbean Community
• Bajan is a commonly used term for Barbadian 

Resources
OECD pressed Australia to drop plan to reveal where multinationals pay tax by Financial Times
EU Blacklisting of Vanuatu: History, Analysis, and Socio-Economic Implications by Marla Dukharan
When A Blacklist Is, Unfortunately, Just That by Marla Dukharan


Contact Info: Marla Dukharan
Website: marladukharan.com
Twitter: @Marladukharan

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In this episode of Caribbean Progress, Rasheed speaks with Humberto Macias, who previously served as the Deputy General Counsel of Honduras PrósperaThe promoter behind Próspera ZEDE. Being one of the first team members to relocate to Honduras for this tremendous project, Rasheed and Humberto discuss the growth of Próspera thus far and Honduras’ varying demographics. They dive into the details of the recent repeal of the ZEDE laws by the Castro administration and the effects this might have on foreign direct investment to Honduras. They also discuss why Próspera will remain resilient even amidst the changing political environment.

Note:
ICSID - International Centre for Settlement of Investment Disputes
ZEDE - Zonas de Empleo y Desarrollo Económico [Spanish] (Zone for Employment and Economic Development)

Resources
Próspera

Key Points
[05:46] Próspera’s Target Market
[07:05] The Diverse Population of Honduras
[09:31] The Legal Foundation of Próspera (The ZEDE Law)
[14:07] Dissecting the Views on the ZEDE Law and its Repeal
[18:50] The Implications of the Repealed ZEDE Law
[21:59] Explaining the Double Repeal of the ZEDE Law
[23:24] International Trade Treaties / The Kuwait Bilateral Treaty with Honduras
[26:03] Politicians Awareness Towards the Effects of a Repeal
[27:26] International Assumptions on The Próspera Project
[30:24] Reinstatement of the ZEDE Law

Contact Info: Humberto Macias
X (Twitter): @HumbertoNMacias

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In this experimental episode of Caribbean Progress with Rasheed Griffith, Rasheed reviews three Caribbean songs with two long-time friends, Kenidi Prescod and Akil Walton. These songs fall under the genre of social commentary calypso, referencing political decisions throughout the Caribbean. This episode was fun, and we hope you enjoy it.

Note: Bajan means Barbadian.

The lyrics of the songs discussed in the episode are in the transcription section.

Resources
Gypsy - Sinking Ship
Ras Iley - IMF Take Over
Mighty Sparrow - Federation
Caribbean Progress Podcast episode with Anton Howes
Notes Towards Caribbean Dollarization (Part 1) by Rasheed Griffith
What Should A Caribbean Think Tank Do? by Rasheed Griffith

Contact Info: CPSI
X (Twitter): @cpsi_org

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In this episode of Caribbean Progress, Rasheed interviews Anton Howes, a historian of innovation. This conversation had no bounds as they speculated what the world could have been if we had utilized water for power in the industrial revolution instead of coal. What if the Caribbean countries remained under British rule? They examined the abolitionist movement in light of the oft-quoted Williams thesis and how economists can better theorize the modern world. The overriding theme is how we can think about progress in an historical context. 

Key Points

1. [04:14] Japan Improvement Mentality
2. [07:00] Suspicious Formation of Government Policy
3. [08:22] The Western Design of Progress
4. [15:18] The Water Counterfactual 
5. [21:55] Can Economist Explain the Modern World? 
6. [28:06] The unfortunate endurance of the Eric Williams thesis
7. [35:35] Could the Caribbean have outpaced Britain?
8. [40:29] The Decline Caribbean Federation
9. [44:18] The Caribbean was Created in London
10. [46:29] Why did the Baltic States fail as Colonial powers?

References
Arts and Minds: How the Royal Society of Arts Changed a Nation

Contact Info: Anton Howes
Website: www.antonhowes.com
X (Twitter): @antonhowes

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In this episode of Caribbean Progress, Rasheed chats with Tianyu Fang, a Fellow of CPSI and a well-known tech journalist. This was a far-reaching conversation, from philosophizing on the ideological limits of selling citizenship to the practicality of fiscal policy constraints from reductions in passport demand. They explained why some Caribbean countries have become overly reliant on their Citizenship-by-Investment (CBI) sectors. They also get into the weeds about why so many Caribbean passports are purchased by Chinese citizens.  Rasheed and Tianyu are working on a detailed report about Caribbean CBIs for the Caribbean Progress Studies Institute.

Resources
Ius Doni: The Acquisition of Citizenship by Investment by Dr. Christian H. Kälin

Key Points

1. [01:43] What are Citizenship by Investment Programs (CBI)
2. [04:00] Creation of CBI in the Caribbean
3. [07:22] The False Sanctity of Citizenship
4. [09:53] Gentrification through CBI Fallacy
5. [12:31] Non-Caribbean Citizenship and Residency Programs
6. [16:32] An Unspoken Dependence on Passport Sales
7. [17:34] Is The Revocation of Citizenship Possible?
8. [20:14] The US Misconception of Caribbean Reliance on CBIs
9. [22:28] Counter Arguments to CBI in the Caribbean by US organizations
10. [23:47] Alleged Involvement in Caribbean CBI Programs by the CCP
11. [26:18] Do Chinese CBI Applicants Move to the Caribbean?
12. [27:34] Why are Caribbean Citizenships such a Hot Commodity?
13. [33:25] Bad Due Diligence as an Argument Against CBI in the Caribbean
14. [40:34] CBI as an Economic Scapegoat 

Contact Info: Tianyu Fang
Website: www.tianyufang.net
X (Twitter): @tianyuf

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In this episode of Caribbean Progress, Rasheed speaks with Dr. DeLisle Worrell, a renowned economist and former Governor of the Central Bank of Barbados. They discuss many policy topics, including why the standard macroeconomic models of the foreign exchange constraint in open economies should be revised.  How dollarization brings fiscal credibility to consolidation policies. They also explore the economic dislocation that occurred in the Caribbean post-independence. 

Resources
Development and Stabilization in Small Open Economies: Theories and Evidence from the Caribbean Experience by Dr. DeLisle Worrell


Key Points

1. [07:08] Against Foreign Currency Constraints 
2. [10:46] How to Measure Productivity and Competitiveness
3. [12:23] Prudent Management of a Small Economy 
4. [17:31] Faulty IMF and Caribbean Government Models
5. [26:34] Optimal Government Fiscal Consolidation
6. [27:28] Difficulty for Barbados  to Have a Good Fiscal Consolidation Policy
7. [28:43] The Better Economic Model for Caribbean Central Bankers
8. [31:16] What it Means to Import Inflation
9. [32:08] Understanding Currency Substitution in the Caribbean
10. [40:21] Barbados 2013 Fiscal Crisis
11. [43:54] How a Government Borrows from the Central Bank
12. [45:57] How Sovereign Are Caribbean Countries After Independence

Contact Info: Dr. DeLisle Worrell
Website: www.delisleworrell.com

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In our first episode, Rasheed invited Craig Palsson to discuss the current state of Haiti. They delve into its past, from pre-independence rivalry to the turbulent period of US occupation, up to the most recent presidential assassination. Next, they analyze Haiti's lack of institutional credibility as a significant factor in perpetuating its decline. Compared to other countries in the region, Haiti's persistent failure leaves us wondering what’s next. Can anything be done?

Resources
Apocalypse - There are no natural disasters, only social ones. By Junot Diaz
Haiti's Paper War: Post-Independence Writing, Civil War, and the Making of the Republic, 1804–1954 by Chelsea Stieber
Why We Fight: The Roots of War and the Paths to Peace by Christopher Blattman
We Dream Together: Dominican Independence, Haiti, and the Fight for Caribbean Freedom by Anne Eller
A Whirligig of Revolutionary Presidents: State Capacity, Political Stability, and Business in Haiti, 1910-1922 by Craig Palsson
American Imperialism's Undead: The Occupation of Haiti and the Rise of Caribbean Anticolonialism by Raphael Dalleo

Contact Info: Craig Palsson
Website: https://www.craigpalsson.com/
YouTube: https://www.youtube.com/MarketPowerYT

Email us: [email protected]