Guyana is working closely with its regional and international partners in response to banking threats and the possibility of de-risking, Minister of Finance Winston Jordan said on Monday.
This issue was addressed during his presentation on the proposed 2017 national budget on Monday, where he addressed financial sector reform. Jordan said that like other Caribbean economies, Guyana faces a potentially damaging correspondent banking crisis.
The local banks and financial institutions of small Caribbean economies, he said, rely heavily on correspondent banking relationships with global banks to connect with the international financial network.