Prime Minister Mia Mottley will on Wednesday present a case for authorities in Washington to take decisive action to fix the damage caused to Caribbean economies by the loss of correspondent banking.In a historic appearance before the full committee of the United States House Committee on Financial Services, Mottley will become the first Prime Minister in near four decades to testify before the American Congress at a hearing entitled, When Banks Leave: The Impact of De-Risking on the Caribbean and Strategies for Ensuring Financial Access.The hearing stems from The Roundtable Discussion on De-Risking held in Barbados in April this year, which brought together Caribbean leaders, other regional high-level officials, and US representatives led by Congresswoman Maxine Waters who heads the US House Committee on Financial Services.In recent years, Caribbean countries have been grappling to cope with large foreign financial institutions scaling back or terminating their relationships with banks in the region, thus making it significantly more difficult to do business and obtain financial services.
