WHERE HAVE THE BANKS GONE? CURBING FINANCIAL DE-RISKING IN THE CARIBBEAN - Financial inclusion is the backbone of economic development in the Caribbean. Access to international trade, finance, and remittances promotes economic stability and creates growth opportunities for governments and citizens alike. But the medium that makes this possible – correspondent banking relationships – is consistently restricted or terminated. No region is more affected by these restrictions than the Caribbean.
How can the US government and the banking community work with Caribbean partners to strengthen financial inclusion? What are the implications of continued financial de-risking on US-Caribbean relations? How can the Caribbean and its partners ensure that all citizens have secure access to the global financial system?
ORIGINAL AIRDATE: 09/07/23