Prime Minister John Briceno is in Bridgetown, Barbados. PM Briceno departed the country on Tuesday to attend the Caribbean Financial Access Roundtable meetings as the CARICOM Chair. The Roundtable meeting, which started today, was co-hosted by the Government of Barbados and Maxine Waters, Chair of the US House of Representatives Financial Services Committee. The event follows discussions that took place in Washington, DC in 2019 before the pandemic to tackle the challenges that small island states are facing with correspondent banking due to de-risking activities of US banks. In addition to de-risking, matters being discussed include the scope and impact of EU listing initiatives and actions to address the changing international standards to combat money laundering and terrorist financing. Barbados Prime Minister Mia Motley underscored the importance of the meetings.
Congresswomen Waters expressed willingness on behalf of the United States to work with CARICOM counties to address concerns raised.
Also, in attendance at the financial summit are senior representatives of US and Canadian Banks, CARICOM Heads of Government, the CARICOM and OECS Secretaries-General and the President of the Caribbean Development Bank.