Reform in the banking sector is the only way to realize sustained economic growth, Governor of the Eastern Caribbean Central Bank Sir Dwight Venner has said.
According to the Antigua Observer, he told the fourth International Monetary Fund (IMF) High Level Forum in St. Kitts that the global financial crisis which started in 2007 has had a major impact on regional economies and banking systems “and we have not resolved that problem yet.”
Calling the resolution of the banking sector “a difficult task”, Sir Dwight said before economic growth can take place in the Caribbean “the underlying and structural issues must be dealt with as well”.
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