(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The Committee of Central Bank Governors is to provide to Heads of Government of the Caribbean Community (CARICOM), proposals on how the Community could collaborate to tackle the current international financial and economic crisis. The Committee should present the proposals by the end of March.

The global situation was the premier item of the first business session of the Twentieth Inter-sessional Meeting of the Conference of Heads of Government of CARICOM which was formally opened on 12 March 2009 in Belize City, Belize.

In closed door sessions, the Heads mandated the Committee of Central Bank Governors to provide them with the current regulations to ascertain what could be utilised collectively to confront the challenges.

Under the broad agenda item of the `Global Financial and Economic Crisis (including its particular regional dimension): Projected Effects on the Region and Possible Mitigating Actions’, the Heads of Government dealt with the multifaceted problems including those related to CL Financial, British American Insurance and the Stanford Group of Companies.

Briefing the media Thursday afternoon at the Radisson Fort George Hotel in Belize City, Dr. Edward Greene, Assistant Secretary-General Human and Social Development said it was heartening to see the Heads of Government consider the issue from the basis of protecting the interests of their citizens.

“It is clear that the Heads of Government agree that we must move collectively” with respect to the crisis, Dr Greene said, adding that the urgency in confronting the problem was evident.

Thursday morning, the Heads of Government also discussed matters related to the Fifth Summit of the Americas which Trinidad and Tobago will host next month, and Crime and Security.