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Caribbean & Central America - February 2006 (ISSN 1741-4458)
REGION: Confusion over PetroCaribe deal
On 10 February Caricom leaders ended their two-day informal summit in Port-of-Spain with a show of unity on two critical issues over which they had been divided: the PetroCaribe oil agreement with Venezuela and the creation of a Regional Development Fund (RDF). Trinidad & Tobago has completed an about-turn and embraced the deal to accept Venezuelan oil, which would offset its current high price with low-cost financing; but the agreement now appears in jeopardy following the breakdown in Caricom negotiations with Venezuela.
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