Strong regional financial system key to Barbados growth

Governor of the Central Bank of Barbados, Dr. Kevin Greenidge

Barbados doing even more business throughout the Caribbean Community (CARICOM) to help grow the local economy and strengthen the economic output of the bloc is high on the agenda of the new Governor of the Central Bank of Barbados.

Dr. Kevin Greenidge, who started in his role this morning told CBC News at the bank’s headquarters, Tom Adams Financial Centre, Spry Street, Bridgetown that keeping the region’s financial systems healthy is essential for the efficient movement of investments and savings within the Caribbean. 

He gave assurances of maintaining ties with other central bankers in CARICOM to ensure that Barbados and the Central Bank of Barbados continue to play a pivotal role in strengthening the financial system of the region.

Barbados is already doing significant business with countries within the sub-grouping of the Organisation of Eastern Caribbean States (OECS), hence maintaining good relations with the Eastern Caribbean Central Bank (ECCB) is essential, he noted.

“We’re looking at the financial system not just in Barbados, but in the region as a whole. We do a lot of trade with the ECCB and the OECS region and clearly the intertwining in relation to how our baking system works, moving savings and investments between the two.

“So, I will continue to build on what has already been established and continue to strengthen the network in that regard,” Dr. Greenidge said. 

The ECCB covers Antigua and Barbuda, St. Lucia, St. Vincent and the Grenadines, Dominica, Grenada, St. Kitts and Nevis, Anguilla, and Monserrat. (SNR)

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