The future of the FATCA legislation which is yet to be passed in the parliament, remains a focal point in this country’s politics.
On Thursday, the Opposition and government will meet on the matter again. Opposition Chairman, David Lee, in an interview with News Power Now this morning, noted recent efforts by CARICOM leaders to persuade the international powers that be, as it relates to FATCA.
He said the Opposition is prepared to go back to parliament this week.
On February 17th, Prime Minister, Dr. Keith Rowley told reporters that CARICOM countries had jointly contributed some US$240,000 to lobbyists to act on behalf of Caribbean-based banks to avoid censure and loss of correspondent banking access in the face FATCA. He had met with other CARICOM leaders at the 28th Intercessional Meeting of the Conference of Heads of Government of Caricom in Guyana. Dr. Rowley had made it clear that the banking sector of the Caricom countries could be denied access to correspondent international banks if the FATCA legislation is not passed in time.