04 Sep 2009Blog

Financial downturn provides both positive and negatives for Barbados – JamaicaObserver.com

by Jonathan

The global economic downturn has had some positive spin-offs for Barbados’ international business sector, despite a noticeable decline in the number of new entrants.John HowardWord of this came from Director of International Business, Francoise Hendy, who has described the impact as “quite ironic”.

“I would say the effect of the recession on the economy and the country in respect of international business has been quite positive. Positive in the sense that the reason for the global meltdown has been a less than robust application of regulation and the importance of regulation when it comes to the financial services sector, in particular. As a result of that there has been this rush to see how we can improve and rebuild what has been really a collapse of the financial market,” she explained.

Full article: Financial downturn provides both positive and negatives for Barbados – JamaicaObserver.com. Thanks to Barbados News.