Two babies were among nine children and six adults who were rendered homeless yesterday after a fire gutted three homes in the railway line community in Ste Madeleine around noon yesterday.
You are here
Caricom looks at threat to finance sector
PLACENCIA, Belize—Ahead of last night’s opening of the Caricom Heads of Government Inter-Sessional meeting in Belize, Finance Ministers met yesterday morning to discuss a regional response to a threat to the banking sector in member states.
The issue is the threat to correspondent banking relationships, or the possible loss of access to the international financial markets by regional indigenous banks.
Several international banks, mainly in the United States and Europe, have signalled to client banks in the region an unwillingness to continue carrying their business. The so-called “de-risking” by the global banks threatens to impact several critical services, including remittance transfers.
Caricom Heads have established a Committee of Ministers of Finance on Correspondent Banking, chaired by Antigua and Barbuda’s Prime Minister and Minister of Finance Gaston Browne, to lead the response to this issue. The Committee is supported by leading regional institutions including the Committee of Central Bank Governors (CCBG), the Caribbean Association of Banks (CAB) and the Caribbean Financial Action Task Force (CFATF).
Recommendations from the Committee’s meeting are expected to go before the Heads during their deliberations today and tomorrow.
User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff.
Guardian Media Limited accepts no liability and will not be held accountable for user comments.
Guardian Media Limited reserves the right to remove, to edit or to censor any comments.
Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.
User profiles registered through fake social media accounts may be deleted without notice.