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FSC worried about effect of debt strategy


FSC worried about effect of debt strategy

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As Government rolls out its debt restructuring programme, the Financial Service Commission (FSC) says it has some concerns about the possible impact on the insurance and pensions sectors.

Chief Executive Officer Kester Guy told The Nation on Thursday that “these two sectors would probably be the areas that the restructuring will have the impact on immediately”.

He said, as a result, the commission was working directly with some stakeholders to determine possible areas of impact.

Guy was speaking on the sidelines of a seminar titled Investment Policy Review For Pension Plans at the Lloyd Erskine Sandiford Centre, where he also revealed that the FSC had recognised that the debt restructuring exercise would reduce statutory benchmarks across the sector and that it was an external shock to the industry. (ROG)