중남미

In early August 2019, it was revealed that large amounts of currency, upwards of $50 million monthly, are being shipped out of Jamaica. Peter Higgins, who is part of the Bank of Jamaica’s Foreign Exchange Code Working Group, noted that “too much cash is being shipped from Jamaica and to a great extent it cannot be explained.”2 Though the cash is likely worked through the island’s cambios (foreign exchange houses) and not the banks, this movement of cash has heightened the concern of international correspondent banks regarding cash outflows from questionable sources. It also brings back questions concerning the “de-risking” or “de-banking” of global banks from the Caribbean, a development that has caused economic and reputational damage throughout much of the region, as well as being a point of friction between regional governments and the advanced economies in North America and Europe. According to Toussant Boyce, head of the Office of Integrity, Compliance and Accountability at the Caribbean Development Bank, there is a “new normal” in terms of Caribbean finance. But it is questionable whether the new normal is sustainable; if not, it could represent further economic challenges in the region, especially when it comes to access to international finance.