In recent years, many of the world’s global banks have reevaluated their relationships with respondent banks in a number of countries around the world, making it harder for certain categories of customers and businesses to move money across borders. One of the regions that has been most affected is the Caribbean. This session will present the main drivers leading to pressure on CBRs. It will also discuss the joint initiative between the IMF and the Caribbean to develop regional approaches to address the withdrawal of CBRs. And, it will use Belize and Jamaica as case studies to highlight the main drivers for the loss of CBRs and the solutions that Fund Staff is proposing to tackle this problem.
