“Enriching and enlightening”was how Central Bank economist Kester Guy summed up his time in the United States recently for an International Visitor Leadership Programme (IVLP) on the topic of United States-Caribbean Financial Systems and the Federal Banks.
Guy, along with three other finance officials from Trinidad, Jamaica, and The Bahamas, participated in a specialised IVLP which was tailored for Caribbean representatives.
The IVLP, which ran from July 12 to July 23, examined the connections between the United States and Caribbean financial systems, with focus on the impact of the global financial crisis and United States investment in the region.
Different versions
The IVLP is the Department of State’s premier professional exchange programme. While there are different versions of the programme based upon both profession and number of countries involved in a given programme, all have the objective of bringing together emerging leaders in their respective professions to learn how United States experts in this profession operate, and to share best practices with the other programme fellows who hail from either the same world region and often other parts of the globe.
The United States-Caribbean Financial Systems and the Federal Banks’ programme examined the country’s financial markets and institutions in their domestic and global contexts, with the intent of explaining United States perspectives on international economic and monetary issues.
During the 12-day programme, the IVLP fellows also analysed and discussed some of the root causes of the global financial crisis and its implications for United States-Caribbean financial relations.
They also discussed United States investment in the emerging markets of the Caribbean and programmes that assists developing markets in the region.
Holistic view
To get a holistic view of the United States financial system and the crisis that has affected it in the last two years, Guy and the IVLP fellows visited officials in Washington D.C, New York City and Atlanta.
Guy said he was particularly impressed by the level of interaction and genuine exchange which the IVLP trip entailed. He said that the programme was not all one-way communication from United States financial industry officials, but rather that he and the other Caribbean fellows were able to give their input and lay out their own experiences in financial industry regulation and supervision.
