This timetable provided for intensified cooperation on monetary, financial and exchange rate policies by 1990, and the introduction of a scheme for the free movement of capital by 1993. A West Indian Commission, headed by Sir Shridath Ramphal, was established to develop an action agenda.
Global integration has, of course, its drawbacks: the reason for this is that the openness of the financial markets may also serve to spread turbulences. Risks may have their roots in major groups of investors, in the shape of overly credit-financed leverage. Also, to some extent, in the form of an observed tendency towards herding behaviour.