De-Risking in the Barbados Context
Peer Reviewed
Date issued
Feb 2017
Subject
De-Risking;
Financial System;
Economic Development;
Money Laundering;
Financial Risk
JEL code
G20 - Financial Institutions and Services: General;
G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages;
G28 - Government Policy and Regulation
Country
Barbados
Category
Policy Briefs
De-risking has the potential to develop into a threat to Barbados posing a challenge to the country's continued development and economic stability if left unchecked. Early indications are that the de-risking phenomenon may have already begun to erode Barbados' competitive position as a leading IFC in the Caribbean region. Any sustained loss of IBC business for Barbados will undoubtedly lower government tax receipts, negatively impact employment, and could impact the level of FX availability in the domestic financial system.
