ICB at the IMF CARTAC Climate Workshop on Financial Stability

Last week, members of the Insurance Commission of The Bahamas attended the IMF Caribbean Regional Technical Assistance Centre (CARTAC) Climate Workshop on Finacial Stability in Panama City, Panama, February 20 – 22, 2024.

The workshop had speakers from International Monetary Fund, Central Bank of Barbados, Centrale Bank van Curaçao en Sint Maarten, European Central Bank, Financial Services Commission Barbados, De Nederlandsche Bank, European Insurance and Occupational Pensions Authority (EIOPA), Bermuda Monetary Authority, Caribbean Community Climate Change Centre (CCCCC), Banque de France, Central Bank of Trinidad and Tobago, Eastern Caribbean Central Bank, Bank of Jamaica, TCI Financial Services Commission and Cayman Islands Monetary Authority.

The conference and participation of all 23 CARTAC countries highlighted the importance of climate change risk in the Caribbean context.

The Caribbean Regional Technical Assistance Centre (CARTAC), established by the CARICOM Council of Ministers of Finance and Planning (COFAP) in September 1999 and became operational in November 2001, is one of eight IMF Regional Technical Assistance Centers (RTACs) located around the world in the Pacific, the Caribbean, in Africa, the Middle East, and Central America. These RTACs help countries strengthen human and institutional capacity to design and implement sound macroeconomic policies that promote growth and reduce poverty.