Local banks still seriously affected by de-risking – Jordan

With Guyana still feeling the effects of the bank de-risking phenomenon, Finance Minister Winston Jordan said yesterday that in the new year, government will continue to work with its international partners to find ways to alleviate the effects here.

At the time he was making his 2018 National Budget presentation to the National Assembly.

He told the House that the de-risking phenomenon, which has resulted in foreign-owned banks terminating correspondent banking relationships with locally-owned banks, continues to affect Guyana’s economy.