FINANCIAL SERVICE INDUSTRY UNDER STRESS - FOCUS OF MIAMI CONFERENCE PLENARY

Washington, DC — Caribbean Central American Action (CCAA) announced today that the state of global banking and access to capital will be a key focus of the Annual Miami Conference on the Caribbean and Central America, taking place at the InterContinental Hotel in Miami, Florida, November 30 to December 2, 2009.

The turmoil in the global financial services industry has led to bank collapse, bailouts and weak investor confidence, all of which have had a significant effect on key productive sectors in the Caribbean and Central America, and on the countries they trade with. The economies of the Caribbean Basin have been further impacted by the collapse of regional financial conglomerates and there is concern that others will fall. These events have shaken regional government and private sector leaders alike, and trouble in the offshore arena has negatively impacted the whole region's reputation and has resulted in increased pressures being brought to bear on the offshore banking industry.

The 2009 Miami Conference will feature a Plenary Session on "Financial Services: Strengthening our Emerging Markets" on Tuesday, December 1, from 2:00-3:30 p.m., where senior level representatives and government officials will address a range of issues surrounding the future of this industry. Invited speakers will address the new international regulatory policies adopted to increase transparency in offshore banking services; the ability and willingness of international banks to finance development projects once spearheaded by the private sector; and the measures that regional leaders must adopt to strengthen the region's markets via transnational partnerships.

CCAA's Miami Conference on the Caribbean and Central America continues to be the premiere trade and policy forum for the countries of the Caribbean Basin. Titled "Responding to Global Challenges: Surviving and Prospering in Today's Economy," the 2009 Conference will highlight how the governments and the private sector of the Caribbean and Central America are addressing the multiple economic and political events that have dominated the past year and how the region's international partners are working through the challenges with them. To access the current Miami Conference Agenda, please click here. To register for the conference, please click here.

2009 CONFERENCE SPONSORS

Currently, our 2009 Miami Conference sponsors include: Exxon Mobil, Inter-American Development Bank, Scotiabank, The Sol Group, and Tropical Shipping.

Media Sponsors include: Caribbean Update and Business Monitor International.

2009 Collaborating Organizations include: the Association of American Chambers of Commerce in Latin America (AACCLA), the Bahamas Chamber of Commerce and Industry, Enterprise Florida, Florida Association for Volunteer Action in the Caribbean and the Americas (FAVACA), the Florida International Bankers Association (FIBA), the Haitian Manufacturers' Association (ADIH), and the Inter-American Dialogue.

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