Finance

A former chief economist with the government of Montserrat suggests that the island has a long policy road to travel given the shifting in global development trends. Canadian Raja Kadri says the elements of development are visible but Montserrat must chart a course that has a climate finance element in its mix of policy-making, and a clear path to get out of dependency from UK fiscal support. Mr Kadri says he has been keeping a keen eye on Montserrat, especially as it prepares to move from the Foreign Commonwealth and Development Office (FCDO) to the Treasury in January 2026. The former chief economist states that Premier Meade and the government of Montserrat has a tough road ahead but must remain focused. He urges Montserrat’s leader of government business to challenge conventional wisdom whenever he can, making a deal when the elements are aligned, and walking away when it serves no purpose. Mr Kadri calls on Premier Meade to be specific in his asking, but must also make sure that government is willing to cooperate when it serves the interest of Montserrat. The former chief economist advises that Premier Meade must keep an eye on the proverbial “sharks” that circle his government stating that this was, as he puts it, “Ceasar’s biggest blind spot.” Mr Kadri is impressing on the government to communicate as often as possible because people do not like secrecy. The former chief economist calls on the government to be consistent when communicating it vision, emphasizing that the opposite argument must be cut in half through lethal logic and response. Mr Kadri said government must keep an eye on the big picture while making sure that small things are also being done. He calls for a reaching across the aisle when needed, and involving others in the “One Montserrat Project.” Mr. Kadri’s main role in Montserrat was to provide economic advice and analysis to the Premier and the Cabinet as well as to oversee the development of an economic growth strategy for the government of Montserrat. His two-year tenure with the Government of Montserrat, spanned 2017 to 2019.

Senior officials from the Bank of Montserrat Limited recently joined regional financial leaders at the 2025 Annual General Meeting and Conference of the Caribbean Association of Banks (CAB), held from October 28 to November 1 in Trinidad. Representing the Bank were General Manager Mrs. Josephine George; IT Manager Mr. Winston Lewis; and Montserrat’s representative on the CAB Board, Mr. Cheddie Dulep, who serves as Director for the Eastern Caribbean and Barbados. The conference opened with a Sustainable Banking Roundtable, focusing on the sector’s evolving role in tackling climate change, advancing ESG principles, and promoting regulatory transformation. Concurrently, Republic Bank hosted a Small Business Workshop and Marketplace, where over 30 participants explored strategies to access finance, enhance digital capacity, and scale their businesses. On October 29, members convened for CAB’s Annual General Meeting, reviewing achievements, setting priorities for the new term, and electing the 2025–2026 Board of Directors. The day concluded with a Grand Opening Ceremony celebrating Caribbean banking excellence and innovation. Subsequent plenary sessions explored key themes shaping the financial landscape, including Banking as a Service, Cybersecurity, Relationship Banking, and Trade Finance Guarantees Later discussions examined digital transformation and sustainability, covering topics such as AI and low-code systems, intra-regional payments (CAPSS), sustainability standards (S1 and S2), and cybersecurity in the Caribbean banking industry. The event provided invaluable insights into emerging technologies, disclosure standards, and ESG integration, reinforcing CAB’s commitment to innovation and resilience in the region’s financial sector. The Caribbean Association of Banks Incorporated remains the collective voice of the Caribbean’s financial services industry, fostering collaboration, capacity building, and competitiveness across the region.