Caribbean Regional Financial Stability Report

The Caribbean Regional Financial Stability Report represents the culmination of a long process of development and enhancement of the architecture for financial stability in CARICOM. This necessarily involved the upgrading of national financial stability systems, since the regional financial stability architecture is built on national structures. This report complements the national financial stability reports and its purpose is to sensitize the main regional financial stability stakeholders, including the regional public, of issues relevant to the stability of the financial system in the region. By reviewing the main sources of risks to the stability of the regional financial system, as well as the policy measures being used to deal with emerging risks, the report seeks to help build confidence and provide policymakers with guidance on the building blocks to defuse any financial tensions in the system.

This report is a product of a truly collaborative regional effort. The CARICOM Group of Central Bank Governors played a leading role with the close involvement of regional regulatory associations such as the Caribbean Group of Banking Supervisors (CGBS), Caribbean Association of Insurance Regulators (CAIR) and the Caribbean Group of Securities Regulators (CGSR). Additionally, the International Monetary Fund (IMF) made a significant contribution by collaborating with participating central banks on the interconnectedness map component of the project. The report also benefited from training organized with the assistance of the Caribbean Technical Assistance Centre (CARTAC). Very importantly, these developments were facilitated by funding from the Inter-American Development Bank (IADB) through a project on Financial Risk Assessment in the Caribbean, managed by the Caribbean Centre for Money and Finance (CCMF), a research institution funded by regional central banks and the University of the West Indies.

The Regional Financial Stability Coordinating Council (RFSCC) is in the initial stage of work to have a second edition of the Caribbean Regional Financial Stability Report. It is expected that the production of this report will become an annual exercise, forming a permanent part of modern Caribbean financial stability architecture.

Adlith Brown Memorial Lecture

The Adlith Brown Memorial Lecture honours the memory of Dr. Adlith Stephanna Brown, Co-ordinator of the then Regional Programme of Monetary Studies from 1980 to 1984. Although born in Jamaica, Dr. Brown could truly have been described as a Caribbean woman. Her sense of regionalism was nurtured on the Mona Campus of The University of the West Indies where she did her undergraduate work for the B.Sc. (Economics). She subsequently completed her Master's (with distinction) as well as her Doctorate from McGill University.

Adlith returned to teach at the University (St. Augustine Campus) in 1969 and in 1971 was transferred to the Mona Campus where she taught Monetary Economics in 1976 and was one of the main anchors of its research programmes. She co-ordinated, firstly, the Caribbean Public Enterprise Project and secondly, in 1980, the Regional Programme of Monetary Studies. In this period, she was also promoted to the position of Senior Research Fellow and in 1982 to the position of Acting Deputy Director - a position which she held until her death. These latter years demonstrated most her capacity for intellectual leadership and for creative management.

Adlith revelled in the realm of ideas. It is therefore understandable that she was fast developing a reputation for being an outstanding economic theorist as her writings attest. Indeed, she was an ideal person to coordinate the Regional Programme of Monetary Studies, given her passion for regionalism, her intellectual standing and her understanding of the process and problems of policy-making with which her colleagues in the regional central banks had to cope.

Since its inception in 1985, each year an eminent Caribbean scholar is invited to deliver the Memorial Lecture, during our Annual Monetary Studies Conference, in tribute to the life and work of Adlith Stephanna Brown.

Working Papers

The Working Papers highlight research work commissioned by the CARICOM Central Bank Governors. These papers aid in the understanding of the issues on a regional level and can be used to inform regional policy.

Regional Reports and Presentations


Past Publications