Financial Interconnectedness and Financial Sector Reforms in the Caribbean

Subject The fallout from the 'Panama Papers'. Significance The release of the so-called 'Panama Papers' has highlighted once again the role played in the offshore financial sector by UK Overseas Territories in the Caribbean, along with Bermuda. The leak of 11.5 million files from the database of Mossack Fonseca, the world's fourth-largest offshore law firm, placed the British Virgin Islands (BVI) into particularly sharp focus. Impacts The offshore sector will be allowed to continue as London seeks to avoid a return to budgetary aid. The strength of public opinion on the issue will dwindle as the Panama Papers' impact fades. The BVI may push successfully for greater autonomy as a result of the scandal.

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Financial Sector Reform in Jamaica During 1985-1992, Possible Lessons for the Caribbean

IMF Working Papers ◽

10.5089/9781451851366.001 ◽

1995 ◽

Vol 95 (90) ◽

pp. 1 ◽

Cited By ~ 5

Author(s):

David Marston ◽

Keyword(s):

Financial Sector ◽

Sector Reform ◽

Financial Sector Reform ◽

The Caribbean

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Understanding Financial Interconnectedness

Policy Papers ◽

10.5089/9781498336758.007 ◽

2010 ◽

Vol 2010 (23) ◽

Cited By ~ 5

Author(s):

Keyword(s):

Systemic Risk ◽

Financial Stability ◽

Financial Sector ◽

Executive Board ◽

Global Finance ◽

Systemic Risks ◽

Fault Lines ◽

Financial Interconnectedness ◽

Critical Fault

This paper seeks to advance our understanding of global financial interconnectedness by (i) mapping aspects of the architecture of global finance and (ii) investigating critical fault lines related to interconnectedness along which systemic risks were built up and shocks transmitted in the crisis. It thus takes initial steps toward operationalizing enhanced financial sector and macro-financial surveillance called for by the IMF’s Executive Board and by experts such as de Larosiere et al. (2009). Getting a better handle on interconnectedness would strengthen the Fund‘s ability, together with the Financial Stability Board, to track systemic risk concentrations. It would also inform spillover and vulnerability analyses, and sharpen bilateral and multilateral surveillance.

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Caribbean Quarterly Bulletin: Volume 10: Issue 2, August 2021

10.18235/0003573 ◽

2021 ◽

Author(s):

Henry Mooney ◽

David Rosenblatt ◽

Cloe Ortiz de Mendívil ◽

Gralyn Frazier ◽

Ariel McCaskie ◽

...

Keyword(s):

Financial Sector ◽

Regional Economies ◽

Development Bank ◽

Medium Term ◽

Vaccination Programs ◽

Macroeconomic Variables ◽

Key Sectors ◽

Local Services ◽

Containment Measures ◽

The Caribbean

For more than a year, the Caribbean economics team at the Inter-American Development Bank (IDB) has focused on the potential implications of the COVID-19 pandemic for lives and livelihoods across the region. The pandemic is still with us, but there is hope that the cycles of lockdowns and containment measures will eventually come to an end as vaccination programs progress, even if unevenly, across the region. However, the availability of vaccine supply remains a concern, and the pandemic continues to pose a constraint for the recovery of key sectors such as tourism and local services sectors. This edition of the Caribbean Quarterly Bulletin focuses on two topics: (1) forecasts of key macroeconomic variables, based on the April 2021 WEO, and (2) financial sector risks. In general, regional economies are embarking on a fragile path to recovery. Continued progress with vaccination programs, credible medium-term fiscal programs, and continued attention to financial vulnerabilities will be needed to push that path to recovery forward.

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