Caribbean Community (CARICOM) finance minister and central bank governors will meet next week ahead of the annual heads of government meeting in Grenada in July to discuss using Afreximbank’s Pan-African Payment and Settlement System (PAPSS) to make trade payments in the region.
CARICOM Chairman and Guyana’s President Dr Irfaan Ali told the 31st Afreximbank Annual Meeting and the Third AfriCaribbean Trade and Investment Forum (ACTIF2024) that ended on Friday that every CARICOM country has complained about the payment settlement system.
“We have an opportunity now that you are vested with a payment settlement system and that is why as Chair of CARICOM, I have asked the Chair of the CSME (CARICOM Single Market and Economy) Prime Minister [Mia] Motley and she has agreed to convene a meeting with ministers of finance and governors next week so that we can take to the next heads of government meeting in CARICOM a proposal where we can use your system to implement a regional system for payment settlement,” Ali said.
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Source Caribbean Loop News
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Guyana Puts Afreximbank’s Payment System on CARICOM’s Agenda added by Caribbean American Weekly on
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