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No concerns over international banking sector issues

March 23, 2023

The new Governor of the Central Bank Dr. Kevin Greenidge has sought to calm any nerves locally surrounding turmoil in the international banking sector following the recent collapse of one of Switzerland’s biggest and oldest banks, Credit Suisse, and Silicon Valley Bank in the US.

The collapse forced the Swiss government to broker a deal that saw rival, UBS buy the bank.

Credit Suisse was founded in 1856 and has been a pillar of the Swiss financial sector ever since.

Dr. Greenidge says a thorough analysis was conducted on the potential impact from the recent collapse of the two on our banking systems, and has told Barbadians there is nothing to worry about.

The Central Bank Governor was among the panel for last evening’s Caribbean Economic Forum where the topic “Managing Caribbean Economies in an Era of Many Crises” was discussed.

Meanwhile as Barbados leads the charge in pushing for climate resilience funding, Dr. Greenidge wants countries in the region to develop national policies that will assist in building resilience.

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