* * * Firstly, I would like to warmly thank the organizers of this forum for inviting the Central Bank of Barbados to give a few remarks on the rapidly evolving world of Fintech. It is not often that central banks are immersed in what can be considered as ‘ground-breaking’ or ‘evolutionary’ financial developments.
Policy challenges The draft approach paper for the Twelfth Five Year Plan (2012–17) released in August 2011 targets an annual GDP growth rate of 9 per cent. This is challenging but not unattainable. Why? Because India has already achieved an average growth rate of about 9 per cent during 2004–08 which was interrupted by the global financial crisis.