This view was also embraced by the originators of the CSME and commitments were given that those Caricom member countries, which still had exchange controls would remove them within a specified time frame. That  2  BIS Review 78/2007  deadline is now January 2008.
Accordingly, with effect from that date, Barbados is expected to honour a commitment to remove all exchange controls in respect of transactions with other CSME member countries. Another aspect of capital account liberalisation is that it places more of the responsibility for managing the country’s foreign assets in the domain of the commercial banks.