Caribbean Times 100th Issue - Friday 17th February 2017
Caribbean Times 100th Issue - Friday 17th February 2017
Caribbean Times 100th Issue - Friday 17th February 2017
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<strong>Friday</strong> <strong>17th</strong> <strong>February</strong> <strong>2017</strong> c a r i b b e a n t i m e s . a g 5<br />
cont’d from pg 4<br />
The source said Browne<br />
expressed the view that the<br />
region has been successful<br />
in getting the attention of<br />
the global community to the<br />
issue of de-risking including<br />
both the IMF and the<br />
World Bank.<br />
Browne has also expressed<br />
confidence that<br />
through its efforts the <strong>Caribbean</strong><br />
countries have been<br />
able to obtain a halt in further<br />
de-risking, although<br />
he concedes that it is still a<br />
threat going forward.<br />
Additionally, he noted<br />
that both the Finance Stability<br />
Board and the US<br />
Comptroller of Currency<br />
have issued guidelines to<br />
ensure that large international<br />
banks do not ‘willi<br />
nilli’ introduce policies on<br />
de-risking.<br />
The source also reported<br />
that the <strong>Caribbean</strong> Development<br />
Bank will convene<br />
a meeting in Barbados next<br />
week with U.S, Canada and<br />
the United Kingdom bank<br />
representatives to discuss<br />
what they expect from <strong>Caribbean</strong><br />
banks.<br />
In his report, PM Browne<br />
also recommended that the<br />
region pool its resources as<br />
it seeks ‘push-back’ on the<br />
de-risking issue. He also announced<br />
that the region has<br />
received the commitment<br />
from the European Union<br />
(EU) to provide resources<br />
to help strengthen CAR-<br />
ICOM’s ‘technical capacity’<br />
on this matter.<br />
“We must continue to<br />
insist on compliance; we<br />
cannot afford any <strong>Caribbean</strong><br />
country to be listed as<br />
non-compliant on global<br />
standards,” Browne told his<br />
colleagues.