De-Risking: The ‘Perfect Hurricane’ Threatening Caribbean IFCs
My latest publication is an article entitled “De-Risking: The ‘Perfect Hurricane’ Threatening Caribbean IFCs” in the forthcoming IFC Review 2017. It discusses the implications of the de-risking phenomenon for Caribbean international financial centres (IFCs) and some of the steps they have been taking to fight it. An excerpt from the article is as follows:
“Caribbean offshore international financial centres (IFCs) are adept at navigating turbulent global waters. The de-risking practices by global banks, manifested most damagingly by the restriction or termination of correspondent banking relationships (CBRs), can be likened to a hurricane threatening to churn already rough seas into a maelstrom, with implications for Caribbean IFCs’ long-term viability. In this article, I will discuss the impact of de-risking on Caribbean IFCs and what is being done so far to address the impact.”
The full version of the article is available online on IFC Review’s website and may be viewed here.
To read more of my work, please also see the Papers & Articles section of this blog.
Alicia Nicholls, B.Sc., M.Sc., LL.B., is a trade and development consultant with a keen interest in sustainable development, international law and trade. You can also read more of her commentaries and follow her on Twitter @LicyLaw.