While global correspondent banks’ motives for de-risking are unclear, what is clear is the current effect of terminations, restrictions, and sanctions on regional financial payments and settlements systems. The region comprises small, open economies that rely on international payments systems to facilitate trade flows, remittances, foreign direct investments, and credit card … [Read more...] about De-Risking in the Caribbean: Which Solutions Lead to Improved Relations Between Banks?
https://vimeo.com/176445129 In this interview, Allan Wright, Country Economist at the IDB, discusses the impact of de-risking strategies on the Caribbean. Below you will find a short summary of what he discussed: What is the problem? De-risking is the termination of or the restriction of business relationships to avert risk related to anti-money laundering (AML) and … [Read more...] about Surviving the Next Financial Crisis 101: De-Risking in the Caribbean