Is a Regional Correspondent Bank the Answer to Crisis?

Glen Ysaguirre

During today’s finance meeting, the committee discussed a number of options, including the possibility of establishing a regional correspondent bank by pooling together resources.  While that idea may serve as a long-term solution, the practicality of it is being called to question.

Glen Ysaguirre, Governor, Central Bank of Belize

“There is also other recommendations that will be more long term in consideration and I don’t know how practical some of them might be but for instance there is the idea of maybe combining our resources in the region maybe capitalize a bank that would establish itself as a correspondent bank in the U.S.  That’s kind of long-term and I am not sure how practical that would be but it just shows you the depth of the discussion that was going on, that we are not leaving any stone unturned and we are looking at all the options that may be possible for the region.”

As we said, the opening ceremonies have been delayed so much later in the newscast, we’ll have a snippet of the proceedings. But stay tuned to this station for the official opening after the newscast.