On this point, I am pleased to say that the Central Bank of Barbados recently launched a National Financial Education Programme in August 2009, which will enhance the financial capability of Barbadians and so lend to renewed participation in financial markets. We would like to believe that if consumers in the US were more savvy the sub-prime crisis might have been avoided.
The important question is, to what extent can financial literacy prevent these problems for the consumer? Infrastructure Efforts to find the optimum regulatory architecture are varied in form and pace. As we rebound from the crisis and crystallize the lessons arising, it is important to proceed at a pace that is steady and appropriate to the environment.