FATCA awaiting proclamation in Trinidad & Tobago
Thursday, October 05 2017 @ 01:05 PM AST
Contributed by: AleemKhan
Trinidad and Tobago appears not to be terribly affected by the loss of correspondent banking relationships in the Caribbean with the introduction of FATCA.
Trinidad and Tobago does not get income from remittances and tourism like many of its Caribbean neighbours.
Foreign Direct Investment (FDI) into Trinidad and Tobago has fallen below the Caribbean average.
SOURCE: Loss of Correspondent Banking Relationships in the Caribbean: Trends, Impact, and Policy Options
Trevor Alleyne, Jacques Bouhga-Hagbe, Thomas Dowling, Dmitriy Kovtun, Alla Myrvoda, Joel Okwuokei and Jarkko Turunen
IMF Working Paper