May 2009


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3rd Biennial International Conference on Business, Banking & Finance

The Financial Meltdown

The current global economic crisis has begun to affect the Caribbean region as well. We have already seen a few alarming symptoms manifest in our financial circles. Production in the energy sector has been declining, there have been news of layoffs by several firms (especially in the energy, construction and service sectors), the CL Financial Group, among the largest of financial conglomerates in the region, encountered serious problems with its asset management and had to be rescued by a Government bailout, and retail sales have declined sharply, to name a few warning signs.

As a leader in tertiary education and research, The University of the West Indies (UWI) has a central role to play in responding to the crisis. We are hosting the Third Biennial Conference on Business, Banking and Finance from May 27-29, 2009 with the theme: Financial Services in Emerging Economies: Surviving the Global Economic Meltdown. Various departments: Caribbean Centre for Money and Finance, Sir Arthur Institute of Social and Economic Studies, Management Depar tment and the Economics Department are staging the forum to facilitate those vital discussions.

This conference will focus on the opportunities and challenges arising from the current international financial order, its functioning and maladies as well as explore the concept of business competitiveness and financial stability. A wide range of speakers and participants will address the conference. The Honourable Prime Minister Patrick Manning will provide the initial impetus followed by panel discussions and paper presentations by an assembly of experts including Mr Marlon V. Williams, Governor of the Central Bank of Barbados, Dr Kenny Anthony, Former Prime Minister of St Lucia, Mr Eric-Vincent Guichard from GRAVITAS Capital and Mr Ron Allerby from the Bank of Canada

The University of the West Indies, along with its sponsors, CMMB/ First Citizens , Scotiabank and RBTT, has attempted to ensure that we provide a comprehensive, innovative—perhaps even radical—approach to the issues identified for the Conference. This is critical if we are to deal with the issues that confront this country and region as we face the challenges of an economic downturn, our survival as small economies and our ability to ensure that our populations are provided with the business and financial services that will help ensure their prosperity.

It is imperative that the wider community benefits from the proceedings of this Conference. We encourage members of the public to actively participate in the event and share ideas on issues on regulatory framework, economic stimulus and how the civic society is and can be a vital part of the recovery process.

As a leader in tertiary education and research, The University of the West Indies (UWI) has a central role to play in responding to the crisis.