Caribbean Capital, Panama Lessons and the Road Ahead from the OAS General Assembly

PANAMA CITY — Leaders from across the Americas gathered in Panama on June 23 and 24 for the 56th Organization of American States (OAS) General Assembly. At the assembly, regional security, trade, energy, innovation and shared prosperity dominated the agenda. Yet, amid the formal discussions, Haiti remained the issue few could ignore. Venezuela also weighed heavily on the regional conversation.

Private-sector Delegate

I attended as a private-sector delegate. I was invited by the USA House to participate in panel discussions hosted in conjunction with Stromback Global and the Atlantic Council’s Adrienne Arsht Latin America Center.

OAS General Assembly

The gathering brought together senior officials and business leaders. Attendees included Panama’s ministers responsible for Canal affairs, finance and economy, and commerce and industry. Also in attendance were Costa Rica’s Minister of Foreign Affairs and Worship and Argentina’s Minister of Foreign Affairs, International Trade and Worship. The United States Ambassador to Panama and Panama’s Ambassador to the United States were present. Additionally, the Executive Vice President of the Development Bank of Latin America and the Caribbean (CAF), the CEO of Bern Holdings, and other distinguished regional voices attended.

• USA House

While the official OAS meetings brought together government representatives from across the hemisphere, the USA House offered a parallel space for policy, business and civil-society discussions. I spoke with Jamaica’s Minister of Foreign Affairs and Foreign Trade, Hon. Kamina Johnson Smith. I also spoke with Barbados’ Ambassador to the United States and Permanent Representative to the OAS, Victor Fernandes.

Still, the USA House had limited Caribbean representation, and I was pleased to add some Caribbean flavour to the conversation.

Panel: Mobilizing Capital for the Caribbean and Central America

My panel, held Tuesday afternoon, was titled “Mobilizing Capital for the Caribbean and Central America.” I appeared alongside Dovi Eisenman, CEO of Grupo FCI and President of the Colón Free Zone of Commerce. Panamanian journalist Javier Negre served as moderator.

The discussion underscored how much work remains to reshape outside perceptions of Caribbean economies. It also highlighted the need to connect those perceptions with the region’s real opportunities.

Questions from participants reflected familiar concerns: corruption, inefficiency, infrastructure gaps, the availability of skilled labour, continued brain drain, high energy costs and the region’s heavy dependence on tourism.

These perceptions did not arise in a vacuum. Caribbean countries have helped shape their own brand narratives. We must now be more deliberate about presenting a broader and more accurate story.

Several attendees were surprised to hear about Jamaica’s special economic zones and the progress made on debt reduction in The Bahamas, Barbados and Jamaica. They were also surprised by the scale of underfunded opportunities in film, music and sports.

Emerging-market growth stories

In response, I drew on lessons from emerging-market growth stories, including India’s transformation over the past 25 years. I also referenced the rise of the Four Asian Tigers in the 1970s and 1980s. The point was simple: some sectors can grow faster than overall GDP when capital, policy and talent align. For the Caribbean, the Orange Economy offers one of those differentiated opportunities.

On stage, I noted that if I mentioned Bob Marley, many in the room could sing his songs. I also noted that if I mentioned Usain Bolt, many could immediately strike his famous pose. The room responded with laughter and agreement.

The follow-up question was unavoidable: if Caribbean culture and athletic excellence have such global recognition, why is there not more investment in the industries behind them? Even Jamaica’s strategic position drew surprise. As I told the audience, if you exit the Panama Canal and close your eyes, you will run aground in Jamaica.

When I said on the stage that if I mention Bob Marley then they all could sing many of his songs and if I mention Usain Bolt then they could all do the pose, there was lots of laughter and agreement. Then I asked why then isn’t there more investment in film, music and sports?

Changing the Perception of the Caribbean

My mission remains focused on changing perceptions of the Caribbean, promoting greater efficiency and encouraging a larger flow of equity capital into the region. The Caribbean has enough debt. What it needs now is patient capital committed to long-term growth, broader opportunity and development that lifts more than the same narrow group of beneficiaries.

Panama and Costa Rica offer useful case studies for Jamaica and the wider Caribbean, just as the Caribbean has lessons of its own to share. Deeper engagement among civil society, the private sector and government could strengthen regional cooperation. Moreover, it could help build a more competitive Jamaica and Caribbean.

Panama’s Caribbean Connection

Panama’s links to the Caribbean run deep, shaped in part by the workers who helped build the Panama Canal and railroads. Those connections remain visible today in commerce, culture and music.

During taxi rides across the city, I heard reggae and dancehall artists including Sean Paul, T.O.K., Tanto Metro and Devonte, and Vybz Kartel on local radio.

Panama already trades with us, understands parts of our culture and is ahead of us in areas from logistics to investment attraction.

The message from Panama was clear: the Caribbean cannot afford to keep looking backward. We must keep moving, keep pushing and keep rising after every setback, whether hurricane, earthquake or economic shock. The task now is to convert recognition into investment, culture into capital, and resilience into shared prosperity. This is our time.

One Love.