In both Trinidad and Tobago, and Haiti, adults with at least a secondary education are more likely to report having an account at a formal financial institution than those with a primary education or less. In Haiti, older adults ages 25–64 are five times more likely to report having an account at a formal financial institution than young adults ages 15–24.
Increased market orientation of the domestic economy and deregulation of interest rates introduced since the early 1990s also enabled a shift from direct to indirect instruments of monetary policy. There was, therefore, greater emphasis on rate channels relative to quantity instruments for monetary policy formulation. Accordingly, short-term interest rates became instruments to signal monetary policy stance of RBI. 14.