CARICOM Seeks Solutions to De-risking and Unfair Labeling of Region as a Tax Haven

 On October 28, 2016, Antiguan & Barbudan Prime Minister Gaston Browne set forth the outcomes and conclusions of the two-day conference on correspondent banking, de-risking and the labeling of the Caribbean as a tax haven. “Senior representatives of international financial institutions, including the International Monetary Fund and the World Bank, regulatory bodies, the European Union Commission, the OECD Global Forum, commercial banks, central banks, governments, the Caribbean Community (CARICOM) Secretariat and the Caribbean Development Bank met in Antigua and Barbuda on 27 and 28 October 2016, under the Chairmanship of the Prime Minister of Antigua and Barbuda, the Honorable Gaston Browne, to seek solutions to the troubling issues of the withdrawal of correspondent banking relations from Caribbean respondent banks, de-risking and the labelling of the Caribbean as a tax haven.