Bankers’ Association Meets with Government

On Thursday, 2 April 2015, Prime Minister and Minister of Finance and Energy, Dr the Rt Hon. Keith Mitchell, together with senior officials of the Ministry of Finance and Energy, held a very constructive meeting with the Grenada Bankers’ Association. The Bankers were led by their president Mr Elie Bendaly of Scotiabank.

The issues discussed were Legislative Reform, including the new Banking Bill, as well as new Public Finance Management Act; the Expected Impact of Lowering the Minimum Savings Deposit Rate; the Progress made with Grenada’s Debt Restructuring; Tax Administration Reforms; FATCA and Economic Prospects for Grenada.

The Bankers expressed increased optimism about Grenada’s economic prospects and are looking forward to further economic recovery. They cited more interest in the real estate and mortgage market as well as increased construction activity as encouraging signs.

For his part, Prime Minister Mitchell noted that the Private Sector, including the Banking Sector, has a critical role in this economic recovery. He also recognized the work of the Social Partners.

The Prime Minister expressed satisfaction with the progress made by his Government over the 2 years and is very optimistic about Grenada’s economic prospects including the commencement of some major private sector projects.

The next meeting of the Prime Minister and the Bankers will be held in late June 2015.

Ministry of Finance

Netherlands Insurance

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