Antigua PM Calls to Create Caribbean Bank for Regional Development

Saint John - The prime minister of Antigua and Barbuda, Gaston Browne, on Wednesday called to create a Caribbean bank that will allow overcoming the obstacles to commercialization imposed by international financial institutions.

The Caribbean countries claim that the threats by banks based on developed nations to withdraw transaction services would exclude the region from the world financial and commercial system.

That would result in serious consequences to maintain financial stability, economic growth, remittances and the relief of poverty.

Browne, who leads the region's response to the problem, told the Caribbean Media Corporation (CMC) that the Caribbean community has been 'making progress slowly' in dealing with the issue.

It can be a good idea to have a Caribbean bank, with branches in other parts of the world; that is, we will also include 'the diaspora in this process of growth and development,' Browne concluded.

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